Sick of corporacracy and starting with just a single dime, Seth Kniep generated millions selling on Amazon. He is the leader of Just One Dime, the premier coaching company for Amazon Sellers.

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Resources

Just One Dime – Build freedom to do the things you love with the people you love.

Pickfu – Unleash the power of instant market feedback on your business decisions.

Prouduct.com – Be your own brand. Make your own products.

3 Value Bombs

1) The better you understand your competitor the more accurately, effectively, and efficiently you can compete against them.

2) You can start small and move to action; it will grow over time – you just have to be consistent.

3) Every single person has at least one dream they want to become true in their life. Take action and do something about it!

Sponsors

Vincero: Get 15% off your entire order today PLUS free shipping when you visit VinceroWatches.com/fire and use promo code FIRE15!

ZipRecruiter: See how ZipRecruiter can help you find the best candidate fast at ZipRecruiter.com/fire!

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How to make a fortune selling on Amazon with Seth Kniep.

[0:39] – Seth shares something interesting about himself that most people do not know.

• Seth is a professional tap dancer and he is working on an event coming up in May 2020.

[2:40] – How do you know if your idea for a product is going to sell?

• Look at a market and use the sales to determine the demand.
• 3 questions that will help you strategize on Amazon and allow you to differentiate yourself from the competition:
  • What is actually selling on Amazon?
  • What is the biggest problem with a particular product?
  • How can you fix that particular problem better than – and sooner than – anyone else?

[6:05] – How do you protect your product/s from copycats stealing your idea and selling it on Amazon?

• The better you understand your competitor the more accurately, effectively, and efficiently you can compete against them.
• 3 steps to take when building a product that is extremely difficult for the competition to compete with:
  • Build a better solution to an existing problem.
  • Build a new solution to an existing problem.
  • Build a new solution to a new problem.

[11:40] – How do you find a supplier to build a product for you?

• Find a selling agent who can communicate in Chinese language and have them go to 1688.com.
  • Make sure a version of a product is not yet selling on Amazon and is not yet available on Alibaba.
  • Order and test the product.
    • Have a manufacturer create a new version of the product or get a product engineer to design the product for you.
    • Hire a patent attorney.
  • Great resource for a company who can help you with the entire process: Prouduct.com.

[15:02] – A timeout to thank our sponsors, Vincero and ZipRecruiter!

[15:05] – What is the best way to get your new product to stand out from the competition on Amazon?

• Your main photo on the listing will affect the conversion of your product.
• Your photo has to create an amazing experience – as if your audience is almost experiencing your product.
  • Pickfu is a resource you can use to help.
• Your product has to be discoverable and it has to be desirable.

[20:20] –Seth talks about Just One Dime.

• He literally started with just one dime; his dream is that some day he will be able to be an example to others.
• Seth’s company teaches you to build the life of your dreams out of your life experience

[22:27] – What if you have almost no cash to start with? How do you get enough money to get going?

• You can start with just $100; go on to Amazon and find a product that has a Best Seller Ranking.
• Find the same product that is at a discount, buy it, send it on to Amazon’s warehouse and they will sell it. Repeat the process until you earn.
• You can start small and move to action; it will grow overtime – you just have to be consistent.

[26:38] – At what point does selling on Amazon become passive income?

• Within 3-6 months as a general rule.
• At the beginning it will not be passive; you have to work hard to build a platform and the systems.
• You have to earn the trust and confidence of the buyers through reviews, and then it becomes passive income.

[29:48] – Seth’s parting piece of guidance

• Every single person has at least one dream they want to become true in their life. Take action and do something about it!
• Just One Dime – Build freedom to do the things you love with the people you love.

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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