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

[Yussef]

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

Awesome post man. Fellow FBA'r here. I focus mostly on my own Private Label and Trademarked brands (as opposed to wholesale) these days but your numbers are pretty impressive. I am just curious about something regarding whole selling if you don't mind sharing.

I know of a few other people that do pretty impressive numbers as well and their margins were pretty low for the amount of work they were doing. There's ranged from 5% net to 15% on the exceptional high end. Another thing that turned me off was if you don't have brand exclusivity on AMZ there is nothing to guarantee that other sellers won't start panicking and sell outside of the MAP. Just curious about how you deal with these issues at the level you're on.

Much success.

 

[MJoo]

Sounds great! If I read correctly you also have your own e-commerce website. Which software platform do you use for that?

 

[Ayanle Farah]

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

 

[Logan P]

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

 

[Ayanle Farah]

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!

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

 

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[Argin Gerigorian]

What do you think about b2b e-commerce/helping businesses buy in bulk or connect with a certain vendor?

I'm wanting to leverage some of my sales/outbound emailing skills into this space, but I'm also trying to be realistic. E-commerce has always peaked my interest and I'm starting to look into it now.

Good idea, execute it. Let me know if you need help

 

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[Midas]

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

Hey! Appreciate the info. What are your thoughts on non-subscription giftbox bundling? Not particularly in a certain niche but general gift boxes with a purpose ie baby shower giftbox, wedding, birthday etc.

Thanks!

 

[Logan P]

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.

 

[Logan P]

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

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

 

[Ernesto Arrieta]

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!

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!

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.

 

[Sloba]

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

 

[Van Halen]

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...

I went away and looked into this and you're pretty much right. When applying for a patent in the UK it takes YEARS. I mean, of course its in patent pending at that point but still a painful process for small little Amazon Products.

 

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[Tammyanne]

how many peop

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!

How many people do you have on your team?

 

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[Tom Coffee]

how many peop

How many people do you have on your team?

2

 

[Xolorr]

Man, impressive thread bro!

I'd like to ask if you run sales outside of amazon at all, like a brand ecommerce site or something?

I'm starting out in ecommerce and have no way to sell through amazon, so I'm working on marketing and brand awareness as the sales will be driven through a private site, and not amazon or a similar platform.

Any advice on getting the ball moving? At the moment I'm working with a bunch of micro influencers in my space.

 

[ZorbingBallz com]

Very nice. We would like know more how to expand online business

 

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[Yussef]

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 don't think the idea is to "build your business around a tool."

Tools like Viral Launch are used as sort of a market indicator check point.

I wouldn't say a business that uses Quickbooks is "building their business" around Quickbooks. If Quickbooks shut it's doors you would still have a business. It just might take a little work to learn a new process.

I look at it this way. Either you can be Blockbusters and put your money on things working out by doing things the way you have been doing them. Or you can be Netflix and respond to the data and trends that the markets say they want. But you have to have the correct data in order to do that. Viral Launch are the guys with the data right now.

 

[MJ DeMarco]

Moved this out of the INTRO forum...

 

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[Walter Hay]

Can anyone simplify the branding process into laymans terms and not have to buy an ebook to get a grasp of it? Example: If I am interested in a product to buy and sell, and seems that many others are selling it as well. How do you make that product look like yours?

You don't have to buy my book to at least get some ideas that might help. See this post so that at least you know what subjects are covered: PUBLISHING - Forum Members and Their Books!?

Walter

 

[Van Halen]

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.

 

[SV25]

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 ?

 

[Logan P]

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!

Much appreciated! I'll follow-up on this and see what Jungle Scout is all about. Looking forward to finding out more Thanks again!

Logan

 

[Ayanle Farah]

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

Thanks for your reply, this is my final question, is there anything I can help you with?

 

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[MrYoshi]

What do you think about b2b e-commerce/helping businesses buy in bulk or connect with a certain vendor?

I'm wanting to leverage some of my sales/outbound emailing skills into this space, but I'm also trying to be realistic. E-commerce has always peaked my interest and I'm starting to look into it now.

 

[Argin Gerigorian]

Thanks for your reply, this is my final question, is there anything I can help you with?

Anytime bro! What are some of your skills?

 

[MrYoshi]

Good idea, execute it. Let me know if you need help

Will do. Right now, I'm still trying to read more into the e-commerce space and learn the basics from a few threads on this forum.

 

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[Argin Gerigorian]

Why did your account get banned the first time?

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

 

[Argin Gerigorian]

Hey! Appreciate the info. What are your thoughts on non-subscription giftbox bundling? Not particularly in a certain niche but general gift boxes with a purpose ie baby shower giftbox, wedding, birthday etc.

Thanks!

Is there an audience who will need it? Does it solve a problem that's not being solved now?

 

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[Midas]

Is there an audience who will need it? Does it solve a problem that's not being solved now?

Just the simple fact that people hate gift shopping. A nicely packaged bundle of complimentary gifts that's below retail or maybe right at retail. Packaged with perhaps supplementary info-material, delivered directly to the recipient. Then build a brand round it while finding ways to drive down costs. The majority of the subscription boxes are garbage. I can't believe people are actually buying this crap.

 

[natyms]

Logistics is the part I still need to learn. I am building my online shop and sending out the products is the hardest part for me at the moment.
What would be your recommendation for someone who is starting small and will need to send out small packages to buyers? Do you know of any good service? At the moment I was planning to use DHL. I would like to avoid Amazon for the moment.