This episode unveils the replicable Amazon FBA "Replens" model, demonstrating how a solo entrepreneur, supported by a virtual assistant, scaled to $140,000 in monthly sales with 12-15% net margins in just 18 months. It provides a strategic breakdown for new sellers to determine profitability goals, source products online, and leverage virtual assistants and prep centers for maximum automation and efficiency.
Key takeaways
To determine your product sourcing targets, establish a 'quit number' (desired annual profit), divide by 12 for monthly, then by an average profit per unit (e.g., $3), and finally by an assumed monthly sales velocity per ASIN (e.g., 10 units) to arrive at the number of unique products needed.
Transition from manual "Easter egg hunt" retail arbitrage to online arbitrage and storefront stalking for more scalable and less time-intensive product sourcing, or outsource these tasks.
Utilize virtual assistants (VAs) specifically for product sourcing to free up your time and scale your operation. Provide clear training but allow them autonomy in their methods (e.g., if they prefer manual sourcing over Tactical Arbitrage).
Leverage prep centers to handle inventory receiving, inspection, labeling, and shipping to Amazon FBA, effectively removing the logistical burden and enabling remote operation.
Begin with a clear financial goal, breaking it down into actionable daily or weekly product sourcing targets to make scaling feel more attainable. For example, finding two profitable products a day can lead to a substantial ASIN count in three months.
Don't be afraid to delegate tasks, even early on. This entrepreneur hired a VA when still part-time, acknowledging his limited hours and proactively scaling his capacity.
Embrace diverse sourcing methods. While the guest found success with online arbitrage and VA-led sourcing, the host emphasizes an 'and/and/and' approach, encouraging sellers to use all available profitable strategies.
Today's guest is the latest example of a student of the REPLENS model who is using a virtual assistant and a prep center to run an amazing business with flexible hours. With only four months notice that he'd be possibly losing/leaving his job, he had to act fast, so he jumped into REPLENS. Jump forward 18 months, and now as a stay home dad of three, he's never been more excited about the future than he is right now as his business continues to scale. "The less I work the more I earn", he says of his increasingly automated business. The business has grown to the point where his most recent month was $140K in sales at 12-15% net margin (before paying himself). If you'd like to learn these strategies yourself, we teach them in the ProvenAmazonCourse.com REPLENS training and in our JimCockrumCoaching.com program. Watch this episode on our YouTube channel: https://youtu.be/wcakX6o-vPc Show note LINKS: My Silent Team Facebook group. 100% FREE! Join 69,000 + Facebook members from around the world who are using the internet creatively every day to launch and grow multiple income streams through our exciting PROVEN strategies! There's no support community like this one anywhere else in the world! JimCockrumCoaching.com - Get a free session with a business consultant on our team at 1-800-994-1792 / 1-801-693-1688 or TEXT US at 385-284-7701 (US & Canada only for Text) ALL of our coaches are running very successful businesses of their own based on the mod
What does this episode say about amazon & marketplaces?
To determine your product sourcing targets, establish a 'quit number' (desired annual profit), divide by 12 for monthly, then by an average profit per unit (e.g., $3), and finally by an assumed monthly sales velocity per ASIN (e.g., 10 units) to arrive at the number of unique products needed.
What does this episode say about supply chain & operations?
Transition from manual "Easter egg hunt" retail arbitrage to online arbitrage and storefront stalking for more scalable and less time-intensive product sourcing, or outsource these tasks.
What does this episode say about founder & leadership?
Utilize virtual assistants (VAs) specifically for product sourcing to free up your time and scale your operation. Provide clear training but allow them autonomy in their methods (e.g., if they prefer manual sourcing over Tactical Arbitrage).
What does this episode say about ai & automation?
Leverage prep centers to handle inventory receiving, inspection, labeling, and shipping to Amazon FBA, effectively removing the logistical burden and enabling remote operation.
What does this episode say about amazon & marketplaces?
Begin with a clear financial goal, breaking it down into actionable daily or weekly product sourcing targets to make scaling feel more attainable. For example, finding two profitable products a day can lead to a substantial ASIN count in three months.
