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#794: Our weekly highlights and recap of powerful business lessons

Silent Sales Machine Radio · March 2, 2024 · 76 min

Summary

This episode highlights the journey of two entrepreneurs who built a multiple five-figure e-commerce business from scratch, primarily focusing on Amazon FBA. It provides practical insights into retail and online arbitrage, the importance of community in avoiding scams, and scaling strategies like branded bundles and repricers. E-commerce operators will learn how to vet business programs, identify profitable products, and grow their Amazon selling operations.

Key takeaways

Themes

amazon & marketplacesfounder & leadershipsupply chain & operations

Topics covered

retail arbitrageonline arbitrageamazon fbascam avoidanceproduct researchasin prioritizationbranded bundlesrepricerscommunity vettingungating brands

Episode description

In today's weekend episode we have highlights of a prior show.   We covered episode #763 From zero e-commerce experience to a multiple five figure biz in a few months. The full episode can be heard at https://silentjim.com/podcast   This podcast features 53 year old twins Jerry and John, who have worked together for over 30 years! Jerry details how they found Jim Cockrum and what drew them to this community! John shares how they toyed with the idea of joining a "done for you program" but ended up not going that route - thankfully!   Jim reiterates how so many programs (about 98%) are scams and a quick way to lose money. Jim recommends a "litmus test" before joining any program and that starts with finding their community and hanging out with them for a while.   The guests share how they are doing both RA (retail arbitrage) and OA (online arbitrage). Jim talks about the "lightbulb moment" that happens when it clicks for new sellers. Jim mentions Podcast #744   The guests share how when they 1st started. They also discuss how more brands became ungated for them when they reached about $7000 in sales. The guests talk about how they primarily do FBA now that they have proof of concept that this strategy works! Jim and the guests talk about the analogy with sports when it comes to Amazon selling   The guest shares how he was skeptical going into his 1st conference because he is a "connoisseur of good leadership" Jim says that "leaders produce leaders!" and that leadership is a topic that he is very passionate about!   The guest shares, as a new seller, he feels that finding test worthy ASINs is the #1 priority and Jim wholeheartedly agrees! Repricers are discussed as well Jim talks with the guests what to expect as their business grows! He recommends looking into branded bundles . Jim reminds everyone that a rising tide

Frequently asked about this episode

What does this episode say about amazon & marketplaces?
Before joining any e-commerce program, spend time engaging with its community to assess legitimacy and avoid scams.
What does this episode say about founder & leadership?
Focus on retail arbitrage (RA) and online arbitrage (OA) for initial proof of concept and to build sales volume, which can lead to ungating for more brands.
What does this episode say about supply chain & operations?
Prioritize finding 'test-worthy ASINs' through thorough product research as a new seller to ensure profitable inventory decisions.
What does this episode say about amazon & marketplaces?
Leverage Amazon FBA once proof of concept is established to streamline fulfillment and scale operations.
What does this episode say about amazon & marketplaces?
As your business grows, explore strategies like branded bundles and using repricers to optimize pricing and expand your product offerings.

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