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[Music] good afternoon everyone and welcome to another video on the freedom seekers Channel the place where I am sharing my freedom journey and where you can learn to become your own boss by using Amazon as your launching pad today's video I'm so excited to share with you how I was able to growth nearly two hundred and seventy thousand dollars my very first year selling on Amazon so in this video today I'll just be giving a summary of my overall journey into Amazon FBA such as how I got started when I got started how much money I started with and what the future looks like for my journey in this realm so let's get to it so how did I get started now I've always aspired to be my own boss and I've tried many different ways to make money in this digital age I remember when I was in college I made mobile apps on the side and I would make money from them by anybody ads in them I also there was one time when a friend well friend and I tried to start our own software company which which didn't quite work out to say the least we didn't even get to a beta so really for a long time I have been a hustler always trying to do things to earn a side income whether it be when I was in college or outside of my nine-to-five job but the one thing that I have had the most success with and which has come the closest to replacing my nine-to-five job is selling on Amazon so how exactly did I get started with Amazon FBA as usual I was on the hunt for ways to make money online and coincidentally or not on Facebook I saw an ad for a webinar which teaches you about selling on Amazon and I said coincidentally or not because Facebook knows so much about us you would be surprised anyway I watched the entire webinar about two hours long and got inspired to give their course a try I think I paid maybe about three hundred and ninety seven dollars for it now of course I had my doubts about the 60-day money-back guarantee they offered for their course was really a no-brainer I knew that if my product did not sell I could liquidate them somehow and get my money back for the course so I I took that plunge and and gave it a try [Music] another question that people might ask me is when did I start selling now having bought the course in September of 2016 I actually did not follow the teachings in it for around two months and this was really bad on my part what a thing is I was so excited and eager about this new business model called FPA that I almost immediately went on alibaba.com and order the cheapest product I could find that I thought would work so I ordered I think was 200 cell phone kickstands for about three hundred US dollars and had them air express shipped to my home now I bought my laser printer and slapped on the ethics cue on them and and shipped in and shipped them in to Amazon the thing is I didn't do any research at all look I mean I did a slight amount of research you know just look at I went on Amazon I saw that hey cell phone kickstands are selling pretty well but I really didn't do any other type of research other than the fact that I saw that they really they were pretty cheap to source I think you were about 60 cents each or something like that some really cheap price and I just got it in as soon as I could but that was a mistake and with a selling price of about $6 and a profit margin of maybe a dollar at best that product was a mistake so my first real launch was in January of 2017 after the lesson of my face cell phone kicks that I went back to the drawing board and followed the course to the letter the process was pretty simple overall so in a nutshell I did my product research found the product and a manufacturer in the US got my label designed with my own brand place my order created my product listing and started selling there are a lot of details in between but that was the general idea things were kind of slow at the start and actually let me pull up the my seller central report and let me just go back to January 1st 2017 to December 31st of 2017 and you'll see in January things were kind of slow to start you know there was no sale on January 1st but then you know things kind of picked up over time as I kept launching new products in the following months my sales took off and the results speak for themselves so you can see in April May things really really picked up 50 odd units at days 60 odd a spike of over a hundred you know things really really picked off and and as you can see for the entire year total sales was over two hundred sixty eight thousand dollars now I caution you and remind you that this is sales and not profit so I didn't have two hundred sixty thousand dollars in my pocket or bank account that's what those are the total sales profit margin and this is somewhere that I can improve profit margin was not the best that you you can hope for in the product I think for mine it was maybe around 25 percent which is on the low end when you source products you want to have a profit margin of closer to 50 percent and so that's a lesson that I have learned and I'm gonna improve on that for future product launches but as you can see in one year that's a pretty epic amount of money to make from starting from scratch another thing I want to show you is that the bulk of my sales came in the last eight months of the year so in from April to December that's over two hundred fifty thousand dollars so in so this is the power of Amazon FBA in eight months I was able to do nearly a quarter of a million dollars in sales guys this is just incredible and if you have any doubts now is the time to get in don't wait you know Amazon is growing the market opportunity is there you just needed to jump in and take action so another question people might ask is how much did I spend to get started so basically after my official launch in January it was about 40 bucks for the house on seller central account about forty five dollars for designing my label and my first order was for three hundred units and that was twelve hundred US dollars and in shipping costs about $70 so all I know that was like less than fifteen hundred dollars to get started on on Amazon this is just amazing now of course I did spend some money on marketing and PPC to get ranked so when you're launching you have to always remember to also have some money set aside to help with some marketing efforts whether it's running ads or running giveaways or for doing sponsored ads on the amazon website itself so as you can see pretty straightforward there so another thing to mention is I learned from this experience over the last year because you know as ice as I showed there my very first order was 300 units and since then I have put my minimum order quantity to about a thousand units if I'm very sure about the market I'm getting into and the product I'm launching I go ahead and get at least 1,000 units if I'm not too sure I get maybe 500 units but 300 it's too low because if you do your product research right you will start selling right away and you are going to run out of stock so just to be on the safe side do your product research do your due diligence and order a sufficient quantity for your very first order so to kind of wrap things up here in simple terms fulfillment by Amazon is using Amazon's platform to manage the sales and shipments of your products you're basically sourcing products ship them in to Amazon and let Amazon handle shipping and fulfillment of your orders another thing that you might be wondering as I mentioned at the beginning of this video is that is do you need a course to start the short answer is no but buying and following a course greatly increases your chances of being successful and not only to be successful but to do so more quickly things move fast and of course you can learn everything on your own by researching on the internet watching YouTube videos and so on but following the guidance and the community support that a course provides will help you get to your goals a lot faster besides think of a course as an investment and most people will make back that money on their very first product order to wrap wrap up this video what are the key takeaways key takeaways are key takeaways our take action don't be afraid to take the leap of faith and try Amazon FBA for yourself with so many people being successful selling on Amazon myself being an example the time to act is no product research is a must it all starts with finding and sourcing a good product once you do that most other things will fall into place reinvest your initial profits into launching new products and expanding current products when I first launched my product I didn't take a penny I kept reinvesting it investing the profits into launching subsequent products and and that's one of the surefire ways to keep growing your business and to scale and that is to keep launching your products but you need capital you need money to do that and when you first start out don't take anything off the table just put back that cash that you get back into your Amazon business so I hope that you enjoy this video that you got some inspiration and value from it and that you will take action please don't forget to subscribe to my channel below and turn on notifications so that as soon as I release new videos that you will be notified if you have any questions feel free to drop it in the comments section below and if there are any topics that you want me to cover if there's anything else you want me to go more in-depth into also feel free to mention that as well see you on the next video and remember that freedom is not just for tomorrow but also for today [Music]