Thought about selling on Amazon? Based on your capital (hint, you don’t need any money to start) and the time that’s available to you, there are 5 paths to successfully selling on Amazon that is discussed in today’s episode. Join WTR and podcast guest Carlos Alvarez, an Amazon expert and the owner/founder of Bluebird Marketing Solutions, as we break down these 5 steps for our listeners.
Ingenious tactics to accumulate wealth, for people who see things differently.
Website 2: https://www.bluebirdmarketingsolutions.com/
[00:55] Kevin: Today we’re joined by guest Carlos Alvarez. Our topic today is 5 Ways to Make Money on Amazon. Carlos is an Amazon expert and is the owner and founder of Bluebird Marketing Solutions
[01:30] This is something that’s going to be applicable for anyone out there that can do this on the side. Let us know in the comments what did you find in our discussion that helped you
[01:52] Can you share with our listeners a little bit about where you came from and what inspired you to do what you do today?
[03:10] Carlos: I started piling on more jobs to keep up financially with everyone else
[05:35] The only thing that’s really been validated in my life is selling online. I’m not having to work these insane hours that everyone else is doing. Why don’t I just create a lot of different brands and figure out all the different ways that I can sell on Amazon? And here we are today
[06:05] Kevin: Now that you have all of this experience behind you, you’ve developed ways that people can make money on Amazon
[07:26] Carlos: There are really 5 paths to successfully selling on Amazon. Based on a combination of the capital you have that you wish to start one of these paths on, and the time you have available after work and other obligations will allow you to pick which one or combination of 2-3 works best for you
[08:40] Private label (creating your own brand)
[08:43] The riskiest of the brands, but my favorite
[09:32] You’re creating a brand from scratch
[09:58] The one that’s going to have the biggest investment to start ($12,000-$20,000 to start)
[10:23] Need very little time to do it (2.5 hours per day until you get it rolling then it could be a maintenance of 1 hour-2 hours a day)
[11:05] Has the most growth potential (you can exit from it, you can sell it, it’s your asset)
[15:48] Wholesale (buying from a wholesaler and reselling on Amazon platform)
[15:47] You don’t need to go to the store, you don’t need to scrape websites
[16:50] Reselling someone else’s products but you have relationships (more consistent, a cleaner model)
[18:43] A bare minimum to start with is $1,000 on a credit card
[12:20] Arbitrage (retail and online arbitrage)
[12:30] Retail arbitrage means going into a store to find products, whereas online arbitrage is using tools online to find products and scrape websites
[13:40] Extremely time consuming
[15:40] The replenishment is difficult, you’re always looking for that next thing/item
[18:35] You can start with a few hundred dollars
[21:22] I don’t believe in get rich quick and super easy money like that, but this is pretty darn close
[12:45] You can drag and drop your designs on any item
[25:03] There’s no limit; the limit is the limit of your creativity
[25:55] A lot of people hire ghost writers
[28:23] The main three that people talk about are Arbitrage, Wholesale, and Private label whereas Arbitrage has the easiest barrier of entry to get it and then as you gain experience, you almost advance into Wholesale and Private label
[29:55] Kevin: I’m going to ask you for a WTR value bomb, which is what in your experience should our listeners look to avoid doing and what can they do about it?
[30:06] Carlos: Comparing your chapter 1 to somebody else’s chapter 20, otherwise you’re always going to feel like a failure and you’re limiting yourself