Maximiliano was raised in Paraguay, and swam all his life. He came to the US on an athletic scholarship. He loves Jesus, E-commerce is his passion, and he is shooting for $10M in revenue on Amazon this year.
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Resources Mentioned:
- Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
- Seller Systems – Visit Seller System and use promo code EOFIRE for a special discount!
3 Key Points:
- When you focus on making more money, another thing you must focus on is investing in yourself.
- Action trumps knowledge. If you take action, you’re going to gain knowledge later.
- Before you buy a product to flip and sell, you should know how much you’re going to make and how quickly it will sell before you buy it.
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Audio Masterclass Show Notes
**Click the time stamp to jump directly to that point in the episode.
- Today’s Audio MASTERCLASS: How to CRUSH it on Amazon regardless of the business model you choose with Maximiliano Abreu
- [01:40] – Max shares something about himself that most people don’t know.
- [02:37] – Max shares a couple of teasers before him and John dive into the masterclass
- Max will break down why Amazon is the best place to start selling.
- He’ll discuss the different business models that are available on Amazon.
- [03:07] – Max shares what he has going on and drops some Amazon value bombs!
- He finds it fascinating that you can make money through a computer.
- He met a friend who was selling full time. It was his AH-HA! moment: that selling online was possible
- [05:16] – Why is Amazon the best place to get started when it comes to E-commerce?
- Over 55% of products that are sold on Amazon are sold by third party sellers.
- There’s over 550 million products on Amazon. So if you want to sell something, you can definitely find something to sell.
- Amazon is not going anywhere. They’ve got the biggest market share by far, and E-commerce is not slowing down at all. That’s what we can call “Riding the wave and not going against it.”
- [07:17] – If Fire Nation has never sold anything on Amazon before, how do they learn how to sell?
- Amazon provides so much data to you as far as knowing how popular a product might be, the estimate of what your competition is selling in a month, and the competition’s negative reviews – then you can improve upon your product.
- Before you buy a product to flip and sell, you should know how much you’re going to make and how quickly it will sell before you buy it.
- [08:31] – The different business models on Amazon.
- Retail Arbitrage – Going into a physical store, buying something, taking it home, shipping it to Amazon’s warehouses, and then watching it sell.
- Online Arbitrage – Buying from an online store to flip on Amazon.
- Wholesale – Contacting a distributor or a brand to sell their product on Amazon.
- Private label – Launching your own brand on Amazon.
- [09:30] – The pros and cons of the different business models on Amazon.
- Retail arbitrage
- Pros: Very low cost and very low risk
- Cons: It is a little bit harder to scale. Another con is you might only be as good as your last hustle. You’re only as good as your last deal.
- Online arbitrage
- Pros: You’ve got the freedom of working on your computer.
- Cons: It is competitive. Another con is you might only be as good as your last hustle.
- Wholesale
- Pros: It’s fast-moving. It is also replenishable.
- Cons: Wholesale accounts are a little bit harder to land.
- Private label
- Pros: You get to control your own brand. You get to build something that you can scale outside of Amazon.
- Cons: It requires a bigger upfront investment. Liabilities are a bit higher because all the risk is on you.
- Retail arbitrage
- [12:36] – Among the different business models, which one does Max like the most?
- Private label is his favorite because you get to build something from scratch. You can also sell it later and have a good exit strategy.
- [14:01] – What if someone doesn’t have enough money, or they don’t want to risk their own capital – what are the next steps?
- Start with retail arbitrage or online arbitrage. Invest a set amount of dollars to try it and get comfortable with it, and then go from there.
- [18:04] – What if Fire Nation doesn’t have the time?
- Most sellers on Amazon start out part-time.
- [20:12] – What happens if we want to be in control, or at least have access to our customers and have access to the distribution part of the business?
- A lot of people have objections in their mind.
- If you get big enough and you’re really trying to hit it off with some sort of product, your products can end up on Amazon eventually.
- [21:20] – What is the best recommendation for people who don’t have a place to store their products?
- All you have to do is buy the product and ship it all at once to an Amazon warehouse.
- [23:22] – Max talks about investing in yourself.
- These days, a lot of gurus talk the talk, but don’t actually walk the walk.
- [25:25] – Max has a special offer for Fire Nation! If you want to explore more about whether Amazon is a good fit visit Max’s website!
- Visit Seller Systems and use promo code EOFIRE for a special discount :)
- [27:13] – One final, key takeaway from Max
- Action trumps knowledge. If you take action, you’re going to gain knowledge.
Killer Resources!
1) Free Podcast Course: Learn from JLD how to create and launch your podcast!
2) Your Big Idea: Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
3) Funnel On Fire: Learn how to create a funnel that converts!
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