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  1. Young-Gun
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    Young-Gun Silver Contributor Read The Millionaire Fastlane Speedway Pass

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    Had to say thanks for this incredible post. Sometimes we are motivated by desire, other times by fear.
    When desire weakens, fear can take up the slack.

    I don't think it's healthy to work entirely out of fear... but a big dose of respect for the ticking of time... that's important.

    Making time for loved ones is big. I hate the feeling of financial concerns getting in the way of sharing my love with family and friends.

    I have the coolest daydream of traveling with friends and family, being able to pay for their expenses and treat them to a grand tour of the world together. But I also fear not making this happen before I'm old and tired.

    Rep transferred, thanks again. Gonna try and get some more work done tonight :)

    Memento mori...
     
  2. Envision
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    Envision Gold Contributor Read The Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Im not @biophase but I've learnt a shit ton from him and here's my 2C

    It's doable. Its just the fact that fewer than 1% of people are going to do all the work required to create the foundation and brand that would get you to that point. You cant white label or throw up some BS product/supplement in an attempt to create that sort of income anymore. You need to create a BUSINESS that sells on Amazon. You shouldnt view it as owning an Amazon business - instead view it as you owning a business that sells on amazon.

    How do you do that? You create a brand, mission, and high quality products that serve a target demographic.

    When you can tap into a specific markets needs and continuously serve that market with similar products that work off of each other, are better than the competitions products, and work great - you will increase the value you give to your customer and they will choose you. In turn your average cart value will increase and your sales will scale... Normally the distribution of your sales across products wont be like you picture it by having 10 products doing 3k/mo instead you'll most likely have a couple products doing 5-20k+/mo and others that do 1-5k/mo and others that dont break 1k. But you arent chasing a specific dollar amount on your products your finding all the products your customers would want and you provide those to them through a business that is within a specific niche.

    Once you get a solid foundation on Amazon you should continue to scale and maintain stock on there but you should also operate your physical products business like a legitimate business and work on driving traffic through your own store/funnel, acquire influencers to represent your brand, grow your social media followings, reach out to retail and other large retailers to sell through and look at generating other income streams. Amazon's a great launching pad but its not where your journey ends.

    Edit: And in terms of actually getting to your goal of making 30k/mo it's all going to come down to cash flow/supply chain management (and no you wont be putting that money in your pocket). You need to launch and create successful products, continue launching other products, maintain the increasing stock levels of your original successful products, and continuing doing so with your products until you've stabilized your inventory cycles, processes, and sales which is going to take time.

    What that means is that when you are making 30k/mo and your net profit on that is 40% which comes out to ~12k you need to put that 12k back into your company to sustain your inventory of products, fund new products, or pay off debt you acquired to fund the products you sold.

    Hope that all makes sense... Not bad for a 1AM work bender. Oh yeah and dont be worried about being made fun of. You dont know what you dont know until you ask.
     
    Last edited: Feb 17, 2017
    Sanctified, T Khan, ZF Lee and 2 others like this.
  3. Nicoknowsbest
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    Nicoknowsbest "Next time, there will be no next time" - Eminem Read The Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Know thyself and act accordingly.


    There is so little respect in this world nowadays that the one showing respect will stand out big time.

    Most people don't respect themselves and this is where it all starts.


    There is no trying.

    Do it!


    Lost money can be made back.

    Wasted time?

    Carpe that f*****g diem.
     
  4. Nicoknowsbest
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    Nicoknowsbest "Next time, there will be no next time" - Eminem Read The Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I usually don't consume any news anymore.

    But a few days ago, I was browsing a local news website and saw the following headline (translated):

    "Study Reveals: 12-Hour-Workdays Are Unhealthy."

    I'd say, debts are unhealthy.

    Oh, and regret is too.

    Not everybody agrees though, I guess...