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

Silent Sales Machine Radio · with Greg · March 16, 2024 · 42 min

Summary

This episode reveals a unique and profitable approach to e-commerce: strategic LEGO investing. Learn how to identify high-value sets, understand product lifecycles, and leverage platforms like Amazon, eBay, and Walmart.com for significant returns. The hosts highlight a new course, "Proven Brick Investing," that promises to equip new sellers with the knowledge to turn LEGOs into a robust income stream.

Key takeaways

Themes

amazon & marketplacesproduct & merchandisingsupply chain & operationsbrand & content

Topics covered

lego investingonline arbitrageamazon fba ungatinginventory managementretail arbitrageebay sellingwalmart.com marketplaceproduct lifecycle managementstore exclusives strategy

Episode description

In today's weekend episode we have highlights of a prior show. In this segment we discuss both the upcoming Proven Conference and our Lego selling training program. We also include the benefits of selling toys online.   Greg spoke at the 2023 virtual conference and will be speaking live at the May 23-25, 2024 Proven Amazon Conference in Orlando! 2011-2012 started Greg's e-commerce journey when he needed to get money together for a house down payment! The 2014 Frozen movie really ramped up his eBay business before he then transitioned to selling those items on Amazon. And the rest is history!   Jim talks about how there are so many ways to make money online but focuses specifically on Lego sales with this guest! They also discuss the new course called provenbrickinvesting.com! This course is geared for new sellers who have never sold Legos before - focusing on the terminology used, patterns or themes to look for, life cycles and retiring sets, where to buy them, how to store them, etc. "Dollar density" is a phrase that is used to describe the approach the guest takes    The guest outlines what this new course is going to look like!: Session 1 - introduction and general concepts  Session 2 - discussion of the real meat and potatoes of the program/how it works/how to get ungated, etc. Session 3 - things you may not think about/technical discussion/how to store them, etc   The guest also discusses "store exclusives" - which provides another level of scarcity for the supply and demand of the sets. Jim talks about how this is really the 1st course they've done that uses this approach of: "buy strategically, hold and then sell." Jim is really excited about the addition of another income stream available to his community!   Jim asks the guest how he handles his "duds" - eBay and Walmart.com are alternatives the guest uses if/as needed <

Frequently asked about this episode

What does this episode say about amazon & marketplaces?
Master the "buy strategically, hold, then sell" model for collectible products like LEGOs, focusing on retired and exclusive sets to maximize profit.
What does this episode say about product & merchandising?
Utilize multiple selling platforms (Amazon, eBay, Walmart.com) to manage inventory effectively and mitigate risk, especially for slower-moving items or "duds."
What does this episode say about supply chain & operations?
Understand the concept of "dollar density" to evaluate the profitability and space efficiency of your inventory, optimizing for high-yield products.
What does this episode say about brand & content?
Explore niche markets like collectible toys to capitalize on scarcity and product lifecycle management for sustained income.
What does this episode say about amazon & marketplaces?
Consider attending industry conferences like the Proven Amazon Conference to gain insights and network with experienced sellers for new strategies and opportunities.

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