I'm a 7 figure eCommerce Seller and Here's My 2 Cents

[Argin Gerigorian]

Hey all, I found out about MJ DeMarco through another fellow eCommerce seller and it was the best decision of the year. I've gone through TMF twice now and recommend it to ANYONE who asks me about entrepreneurship and gone through Unscripted once and listening to it again now

My name is Argin Gerigorian, I'm 25 years old and I've been grinding since 20 years old. I started my business then and lost it at 21 and then started again and broke 7 figures 2 years ago.

The sales come mostly through Amazon and the reason I lost the business the first time was because Amazon shut down my store. (Something MJ hearkens in his book Unscripted )

Since then I've been able to wholesale to other accounts on Amazon and create multiple accounts to have some kind of control over the business, I've also been adding value to the brand and creating repeat customers who buy from us.

Thank God, this year business is looking great and we're looking to break $10m. We're also expanding into 3rd party logistics for other eCom sellers and using our warehouse as space for storage for other sellers and sending their products to customers. Another couple of ventures (in marketing and consulting) but mostly focusing on taking the eCommerce brand from 7 figures to 8, 9 figures and I think this group will help!

I also want to help anyone here who needs eCommerce, logistics, marketing info.

I want to start a discussion on my favorite topic in TMF about Systems/Solutions and see how we can help each other.

1. Product System (A+)
a. We are sourcing great unique products and patenting some of them to create long term value and get long term money as a result
2. Computer System (A)
a. We have a system for our wholesalers that pay us monthly to sell products
3. Distribution System (A-/B)
a. We provide full logistics for our wholesalers and move their products to their customers
4. Marketing System (B)
a. We lack in marketing but started to work with 3 big social media influencers this year who are taking care of the marketing (This side is sort of a partnership so it has its own trouble)
5. Human Resources System (C)
a. We also lack in HRS simply because it's hard to deal with employees but we know we'll need the man power as the business starts demanding more important work from us.

PLEASE discuss and let me know your thoughts! MJ mentions that having one of these down to the T is a million dollar business, our business falls under all of them and we want to capitalize.

I'm willing to help anyone who has any legit questions and needs help with their business as well!

-Argin Gerigorian

 

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[Walter Hay]

So where can I get products to sell from if not from China? I got everything started legally for my business but I can't seem to find a product worth investing in, Items in China might be cheap but shipping kills the profits, not too mention the competition on Amazon is fierce now, I never pulled the trigger on any item because I felt like it was just gonna sit at the warehouse.

You can look outside of China. For years I have been advising people to look for products in other countries. In fact my book has links to sourcing sites in over 20 countries and I will be adding more to the 2018 edition.

Not only can you find unique products that have not been imported into the US, but you can find better quality products at prices comparable to those from China.

By way of example, an international retail chain sells products made in Italy, and they are so superior in quality that they eclipse Chinese equivalents - but they retail at prices equivalent to Chinese products

Another major retail chain that I know sells quality batteries made in Germany at prices similar to the cheap and nasty Chinese items.

In many areas China is losing its price competitive advantage, and that is why they are setting up factories in other low cost labor countries. If they are doing that, why not look at those countries and buy from established manufacturers there?

Walter

 

[Argin Gerigorian]

What would your advice be for newbies on Amazon who are looking to differentiate themselves from the competition and sell their products?

If you're a newbie start by selling anything you can so you can understand the fee structure and how FBA works. Don't order 1000 units of something without knowing your bottom line and making sure it'll sell.

There are way too many people promoting this Guru game of bring anything from China and sell it! Those days are gone!

 

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[Walter Hay]

What would your advice be for newbies on Amazon who are looking to differentiate themselves from the competition and sell their products?

The key to differentiating is branding. @Envision posted a very concise summary of this here: Amazon is ruthless... and you might find this post helpful too: Amazon is Going to Slaughter Your Brand

There is more to branding than these two posts will teach you, but they are food for thought.

Walter

 

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[biophase]

I don't understand why anyone would want to build a viable business around these softwares...Eventually, everyone will be using the same software (if not already) and they get shut down, phased out, algos change - amazon is always a step ahead.

Why not go against the grain and find another way?

@biophase are you using any of these types of softwares in your business and would you recommend them to your students in your hands on course?

I do not use any software to pick products. I sometimes use them to confirm the product.

It's ok to build a business around that type of software. It's the same as launching the Snuggie.

You understand that there is a limited lifespan so you aren't going to get a 30yr mortgage based on the business. But, if you launch a business that does $1m a year for 2-3 years and then goes under, isn't that pretty good too? It's all about being aware of what you are doing.

 

[DamienRoche]

Any advice for actually finding that niche you mention? I know it's a broad question, but any tips even if just one would be awesome

Honestly, sell anything and everything. Don't get stuck shopping for niches. You can spin your wheels for years and not get anywhere. The stars will never align and you'll never find a perfect opportunity. Just dive in and start learning.

 

[biophase]

They thought I had two accounts but I logged in from another sellers account. :/

Do you mean you logged into another sellers account from your home computer?

Why couldn’t you get that account back and running after you explained it to them?

Curious because my home computer has probably been used to log into at least 10 different seller accounts.

 

[Argin Gerigorian]

Whats a method you use for product research?
Inventing new products/completely changing is the best route since you're not playing catch-up. You're the first to the race.

Exactly, we're bringing brand new products on the scene and patenting them

If you don't have the capital for that, I would recommend niches, bundling items that people frequently buy together (Amazon provides this info on every page) and things people tell you to stay away from.

 

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[amp0193]

Wait so you broke 1M 2 years into your building your amazon amazon business? That trajectory sounds pretty amazing. Can you verify with MJ?

Really not that unusual of a trajectory for Amazon, unless you're only starting with $500.

if serious sellers doubt the numbers some form of verification is needed.

Needed why? If you read his posts, he clearly knows what he's talking about. The advice is generally good whether he's making 10M or not.

 

[Argin Gerigorian]

Wait you’re patenting new products every day? You make it seem like patent law is all sweet and dandy - just apply and we will send over the patent 1.2.3. I’m finding this hard to believe - with all due respect. There are a thousands of amazon sellers on this forum that don’t do this because it’s not necessary. It not only cost a ton of money, but it cost a time and a lot of it.

I apologize. I’m not looking to call you out on it by any means but we have some of the most successful amazon sellers on this forum and not many of them are doing 10M numbers. Sounds a little fishy if you ask me but god bless if you are.

Also, people share what’s worked for them on the forum all day. That’s what you’re here for and that’s why you started the thread, no? Not saying to share your whole business but you mention combating 1 star reviews...

1. We're not patenting everyday. I hope I didn't say that

2. My goal is $10m with other businesses I have set in place (not only Amazon FBA). I only know 2 other sellers personally who do $10m ALONE on Amazon. Read the TUNEF scetion.

3. As far as combating 1 star reviews, it's pretty simple. Have GREAT customer service and make a good product. I will never cut myself and business short on that end.

 

[Argin Gerigorian]

Any advice for actually finding that niche you mention? I know it's a broad question, but any tips even if just one would be awesome

One good app is Jungle Scout web page

But don't do it the way everyone else teaches.

You can narrow it down to estimated sales per month and maximum reviews of whatever your comfortable with to launch and an average rating of 4 starts or lower.

See screen shot

On the bottom you can see a result of 4,000 products! If you can't find one to sell within those 4,000 to brand and build something with, you need to take a step back and evaluate if the business is for you

All the best!

 

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[biophase]

Before following this thread any further or listening to your advice I’m going to have to wait for an answer to biophase’s question too. He’s the local ecommerce superstar from my understanding and if he isn’t having what you’re putting out then I can’t say i am either. There’s proof of his accomplishment but not of yours.

I’m not doubting what he is saying. I’m just wondering what the reason was that Amazon banned his account.

 

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[Argin Gerigorian]

True, but that’s because his life is verified lol

Bud, you want me to upload 3 years income statement, tax returns and show sales?

 

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[Merging Left]

Isn't Jungle Scout kinda useless by the fact that everyone is already using it?

Not if you use it in a way that nobody else uses it!

Jungle Scout is a tool for estimating potential sales and competition. It's up to you to tweak your filters and searches to find things that other people aren't finding.

Nobody said it would be as easy as clicking a button. In his example above, he has up to 4,000 products to filter through and analyze. Many of those won't make sense.

 

[Argin Gerigorian]

Thanks for all the good info man ! I'm a newbie as well and very interested in selling on Amazon, any other tips on how to start ?

Yes, focus! Are you really interested in eCommerce or you just want to do it because you've seen others successes? Remember behind every success story are a dozen failed ones.

What are you currently good at? What skills do you have? Double down on those and find a niche.

Cheers

 

[Argin Gerigorian]

Misunderstood what you were referencing. I thought you were saying he got banned off this forum so I took it more meaningfully as opposed to being banned off amazon. Still though, some verifiable information would be nice to back what he is saying!

Like MJ says your wanting of "verification" doesn't change my life.

 

[Argin Gerigorian]

Do you mean you logged into another sellers account from your home computer?

Why couldn’t you get that account back and running after you explained it to them?

Curious because my home computer has probably been used to log into at least 10 different seller accounts.

Yes, exactly.

They apparently thought it was a second account and we were trying to game the system!

I did get the account back after 1 month with going back and forth with lawyers and SC, but after ALL my inventory (6,000 units+) we're shipped back to me :/

It was a nightmare.

 

[jpanarra]

Awesome start! Looking forward to your postings.

 

[Argin Gerigorian]

Isn't Jungle Scout kinda useless by the fact that everyone is already using it?

Not at all. There could be people using it but there aren't a lot of people taking action.

Plus that's one method.

Combine that with bundling and getting product ideas and off you go. Your research by no means ends at Jungle Scout, use it to see market demand and adjust for your business

 

[biophase]

Why did your account get banned the first time?

 

[JAJT]

Curious because my home computer has probably been used to log into at least 10 different seller accounts.

While I've never known anyone personally who has had this happen to them, I have absolutely heard of it happening to some unfortunate users.

Although usually the story goes something more like "my roomate was banned for breaking Amazon rules and my totally above-board account on the same IP was then also banned".

For my own part I can say I've certainly logged into other Amazon seller accounts and had my seller account logged into by other sellers without issue.

But this is amazon. Some stuff happens sometimes. Sometimes it doesn't. They really are horrible at clarifying this stuff on the seller side of the equation.

 

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[ZeroTo100]

Exactly, we're bringing brand new products on the scene and patenting them

If you don't have the capital for that, I would recommend niches, bundling items that people frequently buy together (Amazon provides this info on every page) and things people tell you to stay away from.

Wait you’re patenting new products every day? You make it seem like patent law is all sweet and dandy - just apply and we will send over the patent 1.2.3. I’m finding this hard to believe - with all due respect. There are a thousands of amazon sellers on this forum that don’t do this because it’s not necessary. It not only cost a ton of money, but it cost a time and a lot of it.

I apologize. I’m not looking to call you out on it by any means but we have some of the most successful amazon sellers on this forum and not many of them are doing 10M numbers. Sounds a little fishy if you ask me but god bless if you are.

Also, people share what’s worked for them on the forum all day. That’s what you’re here for and that’s why you started the thread, no? Not saying to share your whole business but you mention combating 1 star reviews...

 

[ZeroTo100]

I've heard ViralLaunch is also good.. do you prefer JungleScout over ViralLaunch?

Also how to you go about thinking through how to mitigate risk in your first product launch as well as figuring out how much you'll need to budget for startup costs? (presume in the first few months you will be losing money)

I don't understand why anyone would want to build a viable business around these softwares...Eventually, everyone will be using the same software (if not already) and they get shut down, phased out, algos change - amazon is always a step ahead.

Why not go against the grain and find another way?

@biophase are you using any of these types of softwares in your business and would you recommend them to your students in your hands on course?

 

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[Ayanle Farah]

Anytime bro! What are some of your skills?

That's the thing, I'm pretty much a newbie all around. You said though you had trouble marketing. I could put up some facebook ads for your products, no strings attached.

 

[Logan P]

I’m not doubting what he is saying. I’m just wondering what the reason was that Amazon banned his account.

Misunderstood what you were referencing. I thought you were saying he got banned off this forum so I took it more meaningfully as opposed to being banned off amazon. Still though, some verifiable information would be nice to back what he is saying!

 

[hughjasle]

What's your go to method to get good reviews? And on the flip side, what do you do to combat 1 star reviews?

 

[CareCPA]

Bud, you want me to upload 3 years income statement, tax returns and show sales?

That would be fun!

 

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[Argin Gerigorian]

What's your go to method to get good reviews? And on the flip side, what do you do to combat 1 star reviews?

That's one of the places I've differentiated from competitors and since that information is not out on the web I got creative with it, with my team.

Unfortunately I can't give that information out. We have a system (a couple of ways) that's working for us and we're not going to give that out since it's a competitive advantage.

Just remember, stop doing what other people are doing and BE CREATIVE!

 

[Ernesto Arrieta]

You can look outside of China. For years I have been advising people to look for products in other countries. In fact my book has links to sourcing sites in over 20 countries and I will be adding more to the 2018 edition.

Not only can you find unique products that have not been imported into the US, but you can find better quality products at prices comparable to those from China.

By way of example, an international retail chain sells products made in Italy, and they are so superior in quality that they eclipse Chinese equivalents - but they retail at prices equivalent to Chinese products

Another major retail chain that I know sells quality batteries made in Germany at prices similar to the cheap and nasty Chinese items.

In many areas China is losing its price competitive advantage, and that is why they are setting up factories in other low cost labor countries. If they are doing that, why not look at those countries and buy from established manufacturers there?

Walter

Wow I was just mind blown..You're awesome I gotta get this book!

 

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[ZeroTo100]

My name is Argin Gerigorian, I'm 25 years old and I've been grinding since 20 years old. I started my business then and lost it at 21 and then started again and broke 7 figures 2 years ago.

-Argin Gerigorian

Wait so you broke 1M 2 years into your building your amazon amazon business? That trajectory sounds pretty amazing. Can you verify with MJ?

 

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