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.

Subscribe to EOFire

Apple | Google | Spotify | Stitcher | iHeart

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:

1. When you focus on making more money, another thing you must focus on is investing in yourself.
2. Action trumps knowledge. If you take action, you’re going to gain knowledge later.
3. 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.

Sponsor

• ZipRecruiter: Successful businesses rely on quality people. But finding quality people can be tough. That’s why I love ZipRecruiter! Its powerful technology scans thousands of resumes to identify people with the right skills and experience, and then actively invites them to apply for your job! That means you get quality candidates fast. And right now you can try ZipRecruiter for free! Visit ZipRecruiter.com/fire. ZipRecruiter. The smartest way to hire!

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.
• [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) Real Revenue: Follow JLD’s step-by-step system and turn ANY idea into a revenue generating MACHINE!

Subscribe to EOFire!