Residual Income Podcast
By: Mike & Matt
Residual and Passive Income are some of the hottest topics online right now. So many people are tired of the rat race and are looking to build a true continuity income. We teach you how to build your own online 7 figure business regardless of what your current business produces and regardless of your experience level.
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In this podcast, we explore the difference between doing what you have been doing and actually starting a business online ... You may be brand new to online marketing or you may have already built an existing brand. We are here to walk you through the steps that you actually need to start from scratch or skyrocket your existing business through "online marketing"
Mike discusses the benefits of traveling to China with the Amazon Secrets Group. What you will experience in real-time by finding the right products that make the most sense and analyzing each product in the live training conducted each evening during the event. irnay2ph
The next China trip is fully booked and set for July 26, 2017. It’s getting to the point where Mike just keeps a bag packed for the quarterly trip. He says that going to China isn’t a must, you can succeed without ever stepping foot in the country, as many of his students have. Right now, is a perfect time to set up your Amazon Store. Then you’ll be all ready for the peak Christmas selling season. However, there’s a lot more products that aren’t seasonal than are. Going to China does have the advantage that you’ll see thousands of products up close and personal. You’ll also get many more leads on pricing and sourcing. So, it never hurts to go where the products are manufactured.
How do you take your business from $100,000 to $1,000,000? It’s called Scaling up your business and it’s a process. First you’ve got to successfully market a product on Amazon. Set a goal of $10k per month. Once you’ve achieved that goal then it’s time to start adding more products. Add another 2 products, then 5 and make your way to 10 products. If they’re good products with excellent trend potential, you’ll hit your goals. But don’t forget that you’re going to have rank on the search engines. And there’s a lot of other things you’ll have to do. Once you have 10 products selling, you’re going to need put systems in place for running your business, but that’s another lesson for another day.
Before getting involved with Amazon and online marketing, Mike was a dedicated real estate investor. He made a fortune purchasing foreclosures at auction, flipping them and then repeating the process. Finally, he accumulated a portfolio of rental properties. The problem with rental properties, management issues aside, is that the returns while respectable aren’t stellar. That’s why he jumped at the Amazon opportunities. His returns are multiples higher than what he achieved in very successful real estate investing. And that’s why he’s teaching you how to do it too. There’s plenty of opportunity for everyone.
Many of you have asked about FBA – fulfillment by Amazon. Amazon has effectively opened their retail platform to third party sellers. You as a seller send your product directly to Amazon’s fulfillment centers. You prepare the product listing on Amazon’s site and they do all the rest. You don’t need a warehouse, customer service staff, return processing or any of the other departments a non-FBA seller would require. This allows you to concentrate on finding the right products and effectively marketing them. You get all the benefits of having your own online business with none of the burdens. That’s what makes it so great and potentially very profitable.
Using AmazonProductFinder.com to identify product opportunities, you’ll find a product and be able to tell if it’s selling well, competitive situation and profitability. Now that you’ve found your product, assuming you have, what’s next? First identify the successful sellers. Product pioneers get arrows in their back. First, does the product sell well? Assuming it does, then you need to figure out if you can compete? Finally, is there an adequate margin that will insure your profitability. The goal is to get to $1000 per day. Just focus on the system and you’ll be sure to succeed.
Mike notes that many first time Amazon sellers have zero digital marketing experience. The key is to follow Mike’s system and learn how to use the tools available to master the digital marketing experience. Using keywords, understanding the search engine and then going on to buy the best searches at the most affordable rates. Properly framing your listing titles can be your key to amazing sales. Mike shares application resources that will help you identify the keywords that work.
Mike is back to help you succeed. You’ve decided you want to sell on Amazon, but now the question is what to sell? Mike helps to take the guess work out of that process with AmazonProductFinder.com. Using this tool you can find big selling products with high margins. There’s several other ways to find these products and Mike goes through them. The upshot is that before you even think of selling a product, you must do your research. You can do it manually, but why not pay a small price for the software and let it do the grunt work for you? Mike lays it all out for you in very easy to understand terms.
Mike knows that a major cost in doing an Amazon Store is shipping, the cost of getting the product from Asian Factory to Amazon. Nearly 50% of our product’s total all-in cost, went to shipping. Now, Mike is chartering containers monthly from Shanghai to the US. From there the container goes to a customs clearing agent. The agent then forwards it to Amazon’s facility. The cost savings is remarkable, coming in at least 70% below current costs. For our products, we could realize savings of over $2,000 per shipment. This savings goes right to the bottom line, pure profit. He discussed using influencers to promote products. Also, we discussed the importance of packaging; just like clothes can make the man, so too can packaging make the product. In the past 18 months, Mike has truly become a merchandising dynamo.
In this episode, Mike teaches one of the "fan favorite" topics all about how to separate yourself from all the other people looking to make money online. The process is quite simple. Mike breaks down everything about getting started in making money online and shows you how to rise to the top through 3 basic steps he shows on this particular episode. This episode is value packed with some of the rarely taught stuff. Kerry Lutz joins us once again after starting his own online business and also shares some of the keys to success in less than 30 days. If you want to check out the free video report go to amazonsecrets.net and enter just your name and email address. No credit card required for our free video report.