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.
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!
**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.
[15:05] – 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.
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