Rich: Hey, yeah, thanks. Thanks for having me back. I’m excited to be here. Yeah, so I think it was what – was it October we talked last?
Jim: Has it been that long already?
Rich: Yeah, it’s been a little while. Yeah, last we spoke – we’ve moved since we last spoke, actually. We’re still in the same industrial complex, so we were in a 22, 2300 square foot warehouse, their smallest one. We’d only been there six, seven months, and we’re starting to just bust at the seams with all the growth. We reached out to the landlord. We knew that a couple of the units had come open, and so I started talking to him about that. There’s a 4500 square foot space that was open.
We took that. We moved over, and now we’re in just this giant warehouse. It’s fantastic. We’re loving it. The guys are super happy. The best part about it is we found a profit leak in our business that we’re able to plug to more than pay for the additional lease cost.
Rich: Yeah, it’s in our shipping. We were doing just strictly UPS shipping. We decided we really need to start palletizing, and so now it’s palletizing. We’re doing LTL. Our average price per pound was at 32 cents, and now our average price per pound is 12½ cents.
Jim: That’s phenomenal, man.
Rich: It’s insane.
Jim: We probably need to do – I can tell you right now, Rich, there’s people going, hey, teach me how to do that. You guys need to put together or someone on our team needs to put together – I know Nathan’s pretty good at LTL as well. Yeah, you can drop – you can cut it in half pretty fast.
Rich: Yeah, it’s crazy. I was looking at the numbers. We spent over $45,000 last year just shipping our product to Amazon. On our current run rate, we expect to save over $30,000 this year just in shipping costs.
Jim: LTL, less-than-truckload, which is a weird term, but that LTL just means sticking it all on one of those pallets instead of individual boxes, right?
Jim: Set it up.
Rich: Yep, it’s really not that hard. I tasked my warehouse manager to figure it out. I actually made him a partner in it. I’m like, “Dude, we’re spending way too much in shipping. Find out how to do LTL, and I’ll give you a 5% commission on all freight settings.” He’s like, “Dude, absolutely.” He figured it out in a week and we got the equipment we needed. We’re off to the races.
Jim: Man, that’s great. Let’s do a show, or a write-up, or a whitepaper, or something on…
Rich: Sure, yeah, sure, sure, sure.
Jim: We don’t have it and I know you guys are smoking through it right now. That’s a big change, so you paid for your – you doubled your warehouse space, and you paid for it by changing your shipping strategy a little bit.
Jim: What else has happened since we talked last?
Rich: Last we talked, we’ve automated the whole business except for the PO process. I’m still managing the purchase orders. We had a hiccup there. I hired a buyer. She worked for us for four or five weeks and then I had to let her go just because of stuff that she was dealing with.
Jim: Yeah, that stuff happens.
Rich: I had it all to where it was all automated. I let her go. We’ve stemmed back on that, and now my office manager and I are splitting that responsibility. It’s like a 50/50 cut there with what he does and what I do. We hired a personal assistant, and that’s really helped us as well. It’s fueling our wholesale growth. She’s doing a lot of online arbitrage too, so it’s fueling both of those.
Last year, we ended the year at 2.5 million, which was up from the 1.1 million we did the previous year. We’re currently run rating at about 3.6 this year, and we just found five new wholesale accounts that we think will add about a half a million in annual revenue.
Jim: That’s tremendous.
Rich: It’s a great margin. Just since we added that, we’re looking at probably ending the year a little over four.
Jim: This will be your third full year as we complete 2021, correct?
Rich: No, so we started back in 2015. When we finish this year, it will be our sixth year.
Jim: Okay, but things really took – you guys were doing – if we go back and listen to the other podcast episodes, you had multiple other businesses that you’ve been involved in. You jumped with both feet into it and things really took off.
Rich: Right, yeah, so we initially started with – in the event industry, we started doing photo booths and bubble soccer and then the gym.
Jim: The gym.
Rich: Yeah, we did the gym. We even did the gym for a few months. It wasn’t a right fit, so we sold the gym.
Jim: Right on time. That was right before COVID hit.
Rich: Right before COVID, yeah, so we lucked out with the timing on that one.
Jim: You guys have become incredibly valuable coaches on our team now creating content with us. Before we get into this new offer that we have for everybody where they can actually come and hang out with you guys for a few days – that’s awesome. That’s just going to be – come see your facility. Learn from you guys. Learn the process. Learn replens and wholesale. It’s going to be incredible. I’m going to keep plugging into your story a little bit, make sure we fill in all the gaps of – I think if we go back and listen, is this your – this is your third episode with us, or is it your fourth, third?
Rich: It is, yeah, this is number three, yeah.
Jim: Three, okay. Yeah, coming up on 400 episodes, I can be excused for not remembering exactly how many times people have been on the program. I knew it was more than two, but they can go back and see the timeline of you guys maturing and the development. We’ll stick links to both of those shows in the show notes as well, so you can see the first two times. You were with Shelley there the first couple times, I think.
Jim: We didn’t wear matching shirts this time. The first time we came on the show we both had the same shirt on. That was right. That was you.
Rich: Yeah, we did.
Jim: Just the maturing process of your business and your approach and your confidence. You’re answering more questions than you’re asking now, but I’m sure you’ve learned. We’ve talked about this is a leadership journey. For example, I mean, I hope you don’t mind being a little candid. I texted you a few days ago, and I said, hey, man, you’re speaking at the event coming up, the Proven Conference, right?
Jim: Do you mind sharing your response?
Rich: I was like, oh, man, I’ve never done anything like that before. Are you sure you want me to do it?
Jim: Those are the best speakers, man. That’s the journey. You go from being an uncertain buyer of a course to becoming a coaching student, to becoming a coach, to becoming a leader and a content creator. Now people are coming to your 4,000 square foot warehouse and sitting for a few days learning from you. That’s the process, and we all learn from you. There’s things that you guys have figured out that other people on our team just don’t know yet, and that’s the philosophy of growth and sharing, the open-handed philosophy we have around here I guess you could say, the abundance mentality.
What else is going on in your business? Before we dive into what I’ll call the second half of this episode today, what other changes have been happening? Just give us a quick dirty summary too for those who may not know. Are you doing replens? Would you consider yourself replen, or are you pretty much all in with wholesale now? Just paint us a clearer picture.
Rich: Yeah, so we do both. I came from the corporate world of distribution. I was the sales manager. I already understood wholesale. It made sense for us to start in wholesale. I’m probably one of the few guys that you’ll ever meet that starts in wholesale and then a few years later gets into replens.
Jim: Drifts over the other way, yeah.
Rich: Usually, the other way around, yeah. We were exclusively wholesale for probably the first, oh, four years in the business, and we did it out of the house for a few years. Then we started. We got a little 900 square foot facility and then upgraded that, 2500. Now we’re 4500. It was December of 2019 that we started digging into the Replens course, and so we started sourcing replens January of 2020. We’re almost a full year and a half into our replens.
Now we do both. The way we do it so that it’s not too chaotic, so I’ve hired my shopper, who is also my replens sourcing manager, and his focus is replens and shopping for them and growing the replen line. Then my office manager, he’s also my wholesale sourcing manager, so he focuses on wholesale. We’re probably, oh, 65, 70% wholesale and then 25% plus replens.
Jim: Got you.
Rich: We love the hybrid of both. We tried arbitrage when we first started six years ago, and I couldn’t figure it out. We were chasing the clearance, and we were chasing seasonal. I’m not a bargain shopper. It didn’t speak to me, and I couldn’t figure it out. Replenishables through wholesale is what really spoke to me. It wasn’t until Jimmy’s course that really shifted my mindset with arbitrage that helped me realize, hey, we can have replenishable product that’s not necessarily wholesale. It’s also retail or online. Now it’s like this, all replenishables. It’s just this hybrid model of – the retail store can also be our wholesaler, if you will. We had that one guy that focuses on it so that we’re not just chasing too many things at once.
Jim: Break it down for me. If you had to define wholesaling, what do you mean by that? I know what I – what comes to mind for me is I have to place a slightly bigger order. I got to be confident in what it is I’m getting ready to order. I’m buying it in quantity so I can get a discount, whereas replens is I can go buy one, two, three at a time, four at a time. One sells. I go buy another one. I got my shopper out there with a shopping list, and we’re only selling stuff that’s selling at a steady pace.
It’s no risk. If the price tanks, I can liquidate my three or four units. That’s the replen versus the wholesale in a nutshell. What would you add to that kind of general description because you guys are doing what we’re calling a hybrid model of both where you’re finding these replens, and you’re saying, hey, okay, this is good. Let’s get into wholesaling this type of thing. That’s my understanding. Fill in some blanks there for me.
Rich: Yeah, so we do try to move – the great thing about replens is we can establish the demand, find the demand. Those retail stores have that dialed in. They understand the customer.
Jim: They know what’s cooking. Yeah, they know what’s selling.
Rich: Exactly. You can go to the store, and you can find it. Then you can move it over to a distributor or to the brand direct. I do think that wholesale is pretty intimidating for a lot of people. For that reason, they think that – a lot of people think that you have to place these massive orders. They got large MOQs. It’s not always the case, especially when you’re dealing with distributors.
One of the things we did is we found a lot of replens at the local dollar stores. We went out, and we did searches for dollar store distributors. We found distributors that are distributing the same types of stuff that we’re finding at the dollar stores.
Jim: Got you.
Rich: Instead of paying a dollar – not all dollar stores are a dollar, but instead of paying a dollar or whatever, maybe have…
Jim: Five dollars, we’re good.
Rich: Yeah, maybe now we’re paying 90 cents or maybe we’re paying 85 cents, so it’s not a huge savings. I mean, that’s 10, 15%, and that can be huge. A lot of these guys, they’ll take MOQs of $250, $500. You can buy one case or two cases at a time, and so a lot of the stuff with replens that you’re finding, they’re two-packs. They’re four-packs, six-packs. If you’re selling a six-pack and you only have to buy one case from the distributor, you’re still only buying two units, so you’re not going crazy deep on a lot of the stuff.
You may have to dig into that distributor and find 10, 20 replens from that distributor before you can place an order to get your minimum, but if you’re going to go to Walmart, hopefully you’re finding more than 10, 20, 30 there or at the grocery store or wherever. I don’t see it as a huge issue with the MOQs. The great thing about the Replens model is it really changed our mindset with wholesale, so instead of going into wholesale and asking for their Excel sheet with all their UPCs and running that through a scanner…
Jim: Their thousands of listings, yeah.
Rich: We’re using the replen sourcing method in our wholesale lists. We’re searching on Amazon by the brand, by the product, the size, throwing in that – those words at the end, bundle, two-pack.
Rich: Multipack, all that stuff. We’re finding the wholesale listings the same exact way you would with Replens.
Jim: I want to talk just for a moment to someone who’s brand new. If we’re talking over your head right now, apologize. About 60%, 50-60% of our listeners, they know exactly what Rich and I are talking about right now with these different strategies, but if you’re brand new, there’s plenty of other episodes where we go into the basics of what replen is, what it means to wholesale. Don’t be intimidated by these things. We’re just talking about finding profitable products to sell on Amazon. That’s all we’re talking about right now.
It’s like, Rich, one of my math – one of my favorite math teachers ever was somebody – it was an advanced statistics class. I have a statistics minor, and he started off the year saying all the math you will ever do is addition and subtraction. That’s it. All math is addition. Numbers can only do two things. They can get bigger and they can get smaller. That’s it. That’s all they do, and he really simplified it from that point forward.
The stuff we’re talking about right now, it sounds complicated, but all we’re talking about is finding stuff for $5 that you can sell for 20. There’s various strategies. Buying stuff for 20 you can sell for a 100. That’s what we’re talking about, finding products that you can make a profit on. There’s various strategies to do that. The place we love to start new students is with replens, and that’s why we’re spending so much time on replens. Some people just stay there, and they’ve built incredible businesses, 2, 3, $500,000 a month businesses just with the Replens model and a team of shoppers. It’s amazing, from all over the world.
What you guys are doing is you’re saying, okay, let’s plug this wholesale piece on here. That has that stability. You get into some – in some recent episodes, we’ve talked a little bit about wholesale. We’ve got a great wholesale training module in the Proven Amazon Course as well that teaches you some of these concepts and how to find them, but you’re doing this hybrid. You’re blending the two together. You’re using the disciplines of a replen research, checking Keepa, knowing your numbers beforehand, going in small, testing, searching by keywords. You’re not testing the products on the list they give you. You’re saying, okay, I see five or six things here with the same brand name. Let’s go check that brand name on Amazon and see what’s popping. If they can get us these five or six items, they can probably get us these other items that actually are doing way better according to the Keepa research, for example.
You’re blending and hybriding. I love that. It’s added stability. Obviously, it’s added scale. I think you’re painting a really clear picture, and I think this is one of those episodes that pretty much anybody can bite into and learn something. I just wanted to speak to the new listeners and maybe the people who haven’t sold yet as well because sometimes big numbers and new terminology scare those folks off. Don’t be intimidated.
Okay, so I love the update. What else can you tell us about this hybrid model and how might we apply it right now? Say I’m not doing any wholesale. I’m doing just replens. What advice do you have for me to start that transition?
Rich: Okay, so you know what? I’ll get on the advice just in one second.
Jim: Oh, sure, take your time, man.
Rich: One thing that we love about this too is, in the COVID era, we’ve got hundreds of SKUs that we’ve sourced that we can’t find. It’s out of stock. It’s just so hard to find, and so doing this hybrid model also allows us to second and third source a lot of our products. Stuff that we’ve even moved to wholesale, sometimes the distributor or the brand itself has been out of stock. We go right back to the store, and we start buying at the store again. It’s still profitable there, and so it’s been great to have a second and third source on a lot of the stuff.
Jim: That’s a great point. Part of the beauty of replens, I left it out. We didn’t do a real thorough job of explaining it, but it’s stuff you buy full price retail. You don’t have to go out and hunt for sales and wait for bargains and deals and negotiate with the manager. No, you’re grabbing everything they got on the shelf at full retail price. Once you understand the Replens discipline, there’s very little bargain hunting needed. I mean, you’ll take the discounts you can find, and we all like to use our 2% cash back card, or gift cards bought at a discount, or whatever, all that’s good. You’re not actually looking or waiting for sales to happen in the retail stores. That’s part of the beauty of replens.
Yeah, if your distributors run out of stuff, there’s still stuff on the shelf, but that’s the last place that inventory sits is on the store shelf waiting for someone to come along and snag it. Are you guys staying pretty regional with your replens, or have you guys expanded out further, like for retail?
Rich: We have a lot of just the big box stores, so a lot of the stuff that we’re doing you can find pretty much anywhere.
Jim: Do you guys drive three hours to send somebody to go clear out the next town?
Rich: No. We have, but we don’t do a lot of that.
Jim: It’s not necessary.
Rich: Yeah, I’m in the Phoenix metro area. There’s, I don’t even know, 100 Walmarts here. The stores we’re hitting, there’s so many that we don’t have that problem with not having enough product here. There have been times where I’ll send my shopper down to Tucson because he’s already gone to the whole Phoenix Valley and cleared the shelves of everything of a product or two, so he’ll drive two hours down to Tucson to go buy.
We had a replen that we found at Costco in Q4. It was just a little happy accident. I was in the store. I was looking at stuff. I used the seller app, and I scanned the front of it, not the barcode. I scanned the front of it. It popped up and Amazon sells this thing. Amazon Retail sells it very consistent, but they’re out of stock Q4. We went and bought everything we could find in the Valley, everything two hours away in Tucson, and we sold over 700 units at $60 a pop.
Rich: Yeah, in three weeks.
Jim: You paid what for them?
Rich: We paid about 20. It was 28.50 or something like that.
Jim: Yeah, so you’re making 18, 20 bucks a pop once it’s all said and done. You sold them FBA?
Rich: We sold them FBM because Amazon…
Jim: Oh, you made even more.
Rich: Yeah, so Amazon was on the listing. I was worried that, in that week’s timeframe, while I was waiting to get at that – we had two weeks, filled it, but Amazon could jump back on the listing. I didn’t want to risk shipping it in.
Jim: You’re being conservative.
Rich: We were selling 50 to 70 a day there for a little while.
Jim: That’s awesome, FBM, so you’re putting them in a box and shipping them out yourself versus sending them all into Amazon, and the worst case scenario is – I supposed is you liquidate through them at a break even. At those kind of margins, you’re in good shape.
Rich: We did. Yeah, even to take them back to Costco and return them, it was…
Jim: Yeah, return them to Costco. They’re happy to take them. They’re flying off the shelf, right?
Jim: That’s great man, a cool story. All right, so let’s transition over into this workshop. If you think of little lessons and we want to put more action items into this episode for sure, little tips and strategies, I’d love to hear some more stories. I always love it and I know the listeners do as well of how you’re doing what you’re doing. I’m sure they’ll have a bunch of questions for you, but I want to talk about the – I want to make sure I get it right. I was actually looking up on my phone while you were talking. Sorry if you noticed.
I was making sure I got the website right because we just set up this domain name a couple days ago. It’s replenwholesaleworkshop.com. By the time this podcast goes live, the website will be set up. As you and I are talking right now, that’s just a domain name we bought, but we’re working away hard on the website, adding in all the features. This is the offer that gets you – you go to Rich and Shelley’s place, and you hang out with them for a few days. You’ll learn the business from the ground up.
Before I turn it over to you to talk us through it, for those who pay attention to this podcast and that listen to several episodes, you may remember Jimmy Smith being the guest. We have something that’s similar. It’s the opposite side of the same bell curve where we come to your town. We get in an airplane and fly to your house, and we meet at your business. We go shopping with you, and we take you around so you’re familiar with how to use your town as an asset to build a replens business. It says on the sales page. Over the 2 or 3 day period, you’re going to find it’s 75 to – I think it was 75 we promised, replens that are yours, unique to you. We helped you find them in the store, and you can start selling those items.
What we’re saying now is, hey, if you’re willing to travel, go to Rich and Shelley’s place in Phoenix and hang out with them for a few days, see their warehouse, see their products, see their operation, and learn the replens/wholesale hybrid model. Take it away. Set us up a little bit on how this came about, and I’ll just turn the floor over to you for a few minutes to tell us about it.
Rich: How it came about is Shelley and I took a trip with the kids to San Francisco to visit her brother and his wife and kids, and we were talking with them a little bit about starting their own Amazon business. Her brother approached me and was like, “Hey, I don’t want you to coach me. I want you to be a part of my business. I want you to have ownership, and I want you to just help us grow as fast as possible.” I’m like, “Yeah, so you should have Candy fly out to Phoenix,” his wife. “Fly out to Phoenix, and you should learn all the basics from me. Go spend a couple hours with Richard, my office manager. Learn how to source wholesale. Spend a couple hours with Brad. Learn the Replens.
“Spend a few hours with my warehouse manager. Learn how to run the warehouse, and we could definitely jump start your progress. I think that’s the best way to take partnership in your business and help you just accelerate it was to come and learn from my experts.” One of the great things about our business here is we’ve built a solid team, and building this team has allowed the individuals on my team to specialize and be really, really good at what they do.
Jim: That’s great.
Rich: Richard is really, really good at wholesale sourcing. Brad is really good at replens, and my warehouse manager is phenomenal at running a warehouse. I figured, instead of me trying to teach all these little experts, there all these little topics, why don’t I focus on teaching what I’m really good at and if they focus on teaching what they’re really good at? Then I thought, well, why just do this with my brother-in-law? I’m sure tons of people could really benefit from this. That’s when I approached you to see what you thought about the idea.
I think that coming in here – I know it’s like drinking from a fire pipe or a firehose. You’re getting so much information at once, but it’s actually more information. We decided to pilot it with my sister-in-law, two of my sister-in-laws, actually, so they flew out here a couple weeks ago. We ran through the whole course as if we were doing it live, and it went phenomenal. We had breakout sessions during the day. We teach them how to do replens, and then we’d go do it with them. We had a field trip to a couple of stores, and we did the in-store shopping with them for a few hours and came back to the office working on photos that they took. It was pretty cool.
Jim: How were their businesses doing? How long ago was this as well?
Rich: Yeah, so we did this two weeks ago. One of my sister-in-laws, her husband was laid off back in I think October, and they’ve been messing with the idea of starting Amazon. They already had an Amazon account. They were selling a couple things here and there, but when he got laid off, he decided that he was just going to make it work. They have been doing it for five or six months. I’ve been offering them help along the way, coaching them for free and just helping out family. They’ve got a business where now they’re doing 20,000 a month roughly. They’re doing great, a very solid foundation. It’s my brother-in-law that does a lot of the day-to-day stuff, so my sister-in-law is the one that flew in and took the course because she wants to take a much more active role. My other sister-in-law, she just got her Amazon account set up a few weeks ago and hasn’t even bought her first product yet.
Jim: Yeah, they were just a couple weeks into it.
Rich: Yeah, so we got one that’s brand new, hasn’t done anything and one that’s been doing it for about five, six months. They’re gaining traction. They’re doing pretty well.
Jim: I just wanted to be fully candid and transparent with the listeners. This is a new program, but it’s going to be priced properly, accordingly. As we’ve proven this out, once we’ve got ten or fifteen glowing, amazing testimonials – which I’m blown away that the Proven Replen Training with Jimmy Smith – provenreplentraining.com, that’s the other side of the bell curve here where we go to your hometown. Every single person that’s gone through that program has been a glowing testimonial. It’s not cheap because we’re flying people to your town. We’re putting them in a hotel. They’re there for a few days.
These are people who run serious businesses. You’re not getting B level. You’re getting high level, some of the most talented people in our – it’s going to be Jimmy, or it’s going to be Karl. It’s going to be people who run serious six-figure a month businesses. It’s not going to be cheap, but it’s going to be a lot less expensive right now than it will be in 6 months once we’ve got those 20 or 30 success stories. I’ll tell you that right now. I’m guessing, Rich, you’re going to be so busy, you and Shelley doing something else. It’s not even going to be you guys. I love how you said you’re specializing.
Just to back up a step. Here’s the philosophical choice we all must make as we start growing our businesses is do I want to bring in a team of people where everybody knows every position and everybody can fill in for everybody, or do we want to follow the law of specialization, which from my vantage point you’re crazy to ignore. That’s the biblical concept. That’s the concept behind all the massive successes and business throughout history is specialization, meaning I’m really, really, really good at this. I may know a little bit about the other jobs. I know enough to be dangerous. I can fill in maybe, but this is my specialty. You’re doing that, and you’re hiring great people. Pretty soon, you’re going to be too busy off doing other things, and this is going to be just a business that you guys check the numbers once a month or whatever. You guys are super close to that.
I want to encourage people to take advantage of this sooner rather than later. We don’t know that we’ll still be doing this six months or a year from now, the world changes, but right now, replenwholesaleworkshop.com, it’s a concept we’re testing. We’ve got enough proof and evidence that these guys, one, have a great business themselves. Two, they’re able to teach it to other people, and you can go to their site. We’ve never offered this. Spend time and see the replen wholesale model spelled out.
I’m super excited, man. I’m pretty tempted to take a shot at being there the first – at least one of the few times – first few times you do it just to sit in and soak it up and learn myself and meet some of these great people, can’t promise anything. We’ll see what the dates work out to, but on that website, there’s going to be a handful of dates you can pick from as they fill up. How many people at a time are you – are we talking about doing? It’s a small group, right?
Rich: It is, yeah. We could handle probably two to six at a time total people.
Jim: Three couples and we’re full.
Rich: Three couples, yep, absolutely.
Jim: You can’t do it every weekend. It’s going to be every few weeks at best. You may end up booking out over time. This is going to be a bit of a first-come-first-serve. Things may fill up pretty quickly, I’m thinking. Call our coaching office to get the details, or go to the website. That’ll have all the details there.
Tell us a little bit more about it. Maybe take us through the what we do Day 1, Day 2, Day 3? I know you hit us with a little bit of that. What’s the bullet points of the agenda? Where do we start?
Rich: Actually, I have that in front of me.
Jim: No way!
Rich: Let me pull it up.
Jim: We didn’t plan that.
Rich: No, I wanted to have that.
Jim: Very organized.
Rich: Yeah, the first day, we really focus in. You come in here. They’ll meet the team. They’ll meet all the different coaches and get to know each other’s story. The first morning we really focus in on learning the basics. We want to talk about Keepa. We’ll spend a solid hour or two on Keepa looking at and understanding different charts, understanding how to read it. Then we’ll talk about knowing your numbers. We use RevSeller to understand our fees and costs. I love that program. Those are the two big ones that we definitely – you have to have or something very similar to RevSeller.
Then we dive into Buy Box theory. How does a Buy Box rotate, where do you need to be – your price needs to be? This is something I think that it might differ from expert to expert. No one really knows how it rotates, but you definitely have to have an understanding of how it works, right?
Jim: Yeah. It’s like their secret sauce. If you’re a SpongeBob fan, it’s the Krabby Patty formula, man. Nobody knows how the Buy Box actually works. I don’t think they even know themselves. There’s some random elements in there. They don’t want it to become predictable where people can manipulate it, but you do need to know enough about it to be dangerous. You don’t want to be sitting 50 cents on the wrong side of where you could be where your stuff’s just flying off the shelf.
Announcement: Whether you’re brand new to selling on Amazon or you’ve been around awhile, you know that making good decisions about the inventory you buy is vital. It’s key to your success. There’s a suite of tools that’s become a great sponsor of this show. Because so many users in our community use it, they’ve caught our attention. We approached them, and they agreed. Hey, you’re going to love the deal they put together for you.
If you go to Helium10.com, not only do they help you make great decisions about what inventory to buy, but they’ve got a suite of tools that help you run your entire business. They’ve got a 50% off discount code for you as a listener of this show. Use the discount code SSMR as in Silent Sales Machine Radio, to get a great discount on Helium 10. Helium10.com, discount code SSMR, it’s a phenomenal suite of tools sworn by by many of the coaches, leaders, and content creators in our community, many of the successful sellers and the new sellers too. Go check it out. They’ve got a great offer for you.
Jim: You don’t want to be sitting 50 cents on the wrong side of where you could be where your stuff’s just flying off the shelf.
Rich: Exactly, you don’t want to price too low. You don’t want to be priced too high. I also think there’s a lot to do with having the right stop level so that your inventory’s split throughout the country, so you’re getting the Buy Box in all the regions. I mean, there’s a lot to it, and so we dive into that. That’s our morning basic. Oh, we also do – that morning, we also do just getting to know Seller Central and the different aspects of Seller Central. There’s a lot of cool hidden gems in Seller Central. Seller University, there’s a lot of good stuff in there, so we really get into that.
Then we dive in that afternoon into the basic replen sourcing model of reverse sourcing. What is a replen? Just understanding how you’ll search for it on Amazon. This is the same base that we’re trying to establish for wholesale too. We’re going to do the same basic searches methodology when it comes to wholesale, so we really dig into wholesale that afternoon. Then the next morning we do a field trip, and we’ll hit two or three local stores, grocery store, hardware store. We have a couple.
We wanted to be super organic. We don’t have this planned out that we’re going to go take the same pictures with the same people every time. We’re going to hit different stores. We want it to be organic. One, I want you to see that it’s not always 100% we go in and we’re going to find 50 in one day. Sometimes it’s a little bit of a struggle. It doesn’t matter what store we hit, what aisle we hit. There’s stuff there.
Jim: That’s right. I love what you just said because I’ve said the same thing. Drop me in any store. If they’ve got barcodes and shelves, give me a couple hours. I’m going to find replens. I don’t know if I’ll find 5 or if I’ll find 25, but I’m going to find replens. These are items that I can buy at full retail. They sell at a predictable pace, at least a handful a month and at a good ROI. They’re there. They’re everywhere once you know how to look.
It may not be the single unit on the shelf. It may be a multi-pack. It may be a combo of this item on this shelf and this item over here on this shelf. They’re now combined into a bundle, and it’s highly profitable. They’re everywhere once you know how to look.
Rich: Yeah, absolutely. Both me and Richard will go to the store with them, and we split into different groups so that we’re taking different photos. We’ll come back to the office, and then Richard spends a good solid couple hours showing them how to go through their photos and how to do the sourcing on that. Then we’ll have a breakout after lunch where everybody can work on their own photos. We’ll be there to answer questions and help them find their own replens. Just like Jimmy does with his training, a big part of it is I want you to leave here with enough profit to make it worth it, to pay off the investment as fast as possible.
Jim: What other business opportunity does that? If you were buying a franchise, they’d say, well, you’re going to put a lot of money up front. You’re going to have to finance a lot of this, but three years from now, buddy, you’re going to be so glad you did. We’re saying, hey, within a few weeks, you’re going to be thinking to yourself, man, I’m smart. I’ve got the income streams established. That’s not necessarily a guarantee the program working that quickly, but for the people who have gone through it with Jimmy, that’s – I mean, I did an interview just a few weeks ago with a couple that within the first weekend they’d found 100 replens, and a year later, half of them were still rocking profitable income streams. Within just a few short weeks, they’d more than recouped their investment, and now they were sitting on a very viable business.
The beauty of this is, Rich, as you and I both know, this stuff works. It’s not like, hey, one out of every ten students, they turn out. It turns into something. If you’re going to do the work, the replens are out there. The world has shifted. People are shopping online. Amazon can’t keep their shelves stocked if you know how to find the good stuff, which is what we teach you how to do, how to quickly weed through 30 different items and find the winners and find the different versions of that winner. Now you’ve got multiple profitable products. If you can do that, you’re sitting on a viable business very quickly, and it’s not complicated either to fulfill and to manage and operate, as you well know.
I mean, you’ve owned other businesses. Contrast this one to the other business models you’ve been a part of or even maybe the jobs you’ve had. Where does this rank?
Rich: This is our focus, right? We love this. I think it’s one of those things where you can come in, and if you have $100 to your name, you can learn how to do it and have success with it. If you have 100,000 to your name, great, don’t start to fast. You can also have great success. It’s something that it’s not a matter, in my opinion, of will I be successful? Can I be?
It’s a matter of do you put in enough work? Do you give it enough time? Do you learn enough to where you will be successful? It’s not a matter for me of if. It’s when. If you don’t quit and you put in the work, you’re going to have success with it.
Jim: Yeah, it’s pretty amazing how transparent our Facebook group is with coming up on 65,000 members as we’re recording this. The people who do the work are building a business. There’s going to be people who buy a course and sit it on the shelf, or give it a couple hours and, ahh, that’s not for me. Once you eliminate those people and you’re just talking about the people who are putting in the work, let’s say five to ten hours over the course of three to six weeks, consistently they’re seeing incredible results because, again, the way the world of e-commerce has changed. Amazon is the most visited buyer. When buyers go shopping, that’s where they go. They get half of all retail in the United States.
I’m going to take a stab here and say that 70% of the products on there – Amazon never has sold and never will sell. It’s third-party sellers sitting on all that. Jeff Bezos even put out his letter. I think he said 60% of all sales on the platform are third-party sellers at this point as of just a few days ago. That’s a Jeff Bezos stat. That’s billions of dollars that’s sitting out there, people shopping. We teach you what I think to be the lowest risk, fastest result strategy. That’s the Replens strategy.
Some people may be thinking, oh, I can’t afford to fly to Phoenix and spend three days in a hotel and pay whatever this fee is. That’s cool. Jump into the Proven Amazon Course. Learn the basics. Get the ball rolling. That’s where most of our success stories come from.
You mentioned there are people in our audience that we want to cater to, Rich. They’re saying, hey, you know what? I’d rather get started fast. Learn from someone that knows what they’re talking about. See the operation up close. I want to be rocking three weeks from now. I don’t want to slowly tiptoe into this over the next three or four months. I want to get going right now, and that’s who this offer is for is for those folks.
Maybe this is putting you on the spot a little bit, Rich, but who isn’t this for? Who else would you try to talk out of this as we’re processing this out loud? Oh, I’d love to have that business, but it’s not for you if – fill in the blank for a second, and let’s just brainstorm on that a little bit.
Rich: I would think that if you’re – if you need to put it all on a credit card, it’s probably not for you.
Jim: That is great advice.
Rich: In my business, I love leveraging debt. I leverage credit cards, but I always pay it off every month. I don’t pay interest. I personally am okay with using debt to grow, but I’m not okay with using debt if I don’t have the ability to pay it off within a reasonable amount of time.
Jim: You don’t have the system established yet.
Rich: Yeah, if you have $500 in the bank, it’s probably not for you, but you can get there. Just like Jim said, jump into the PAC. Learn the process. Find those first 50, 100 replens, and then a year from now it is for you, right? You can definitely get there.
Jim: We have one-on-one coaches, which you guys do coaching. How many students do you and Shelley have right now?
Rich: Probably a little over a dozen, maybe 15 or so.
Jim: Yeah, as many as we can squeeze in. That’s how our coaching program works is we go back to our most successful coaching students who have a teachers heart, which you can obviously tell Rich does and Shelley, who’s not here today, but she’s in the past episodes. They like teaching this to people. I mean, they’re helping family out and teaching them and getting these businesses going. They have a teacher’s heart. That’s how we find our coaches.
It’s not script readers. They’re not paid hourly to read a script and go through a workbook with you. These are past coaching students like Rich and Shelley were who have succeeded. We say, hey, do you want to be a coach, take on a handful of students as time allows? A coaching program is in between someone who says I think I’m just going to grab the Proven Amazon Course. If you want some one-on-one attention but you don’t want to hop on an airplane – you don’t anyone flying to your town. You don’t want to fly to anyone else’s town. Coaching is that in between price point where you can do what Rich and I are doing right now, the Zoom type meeting, and go through and build your business. An hour a week I think is the average experience. Sometimes it’s every other week.
You have a coach that you can call and you can text a quick question to. You have someone that knows what they’re talking about that you can connect with, so that’s the in between offer. We just like having a bunch of different offers. Our community has grown significantly enough now that we don’t necessarily have an offer for everybody yet, so we’re trying to figure out where these gaps are. One of the things that I think is going to be very, very popular after how we talked around a little bit and bounced this off of some of the community is going to your place and hanging out. I think this thing is going to fill up fast, and we’re going to have to be adding dates to the calendar pretty quick. That’s my instinct.
Rich: Yeah, we’re pretty excited about it. I think it’s one of those opportunities where very rarely can you jump into something and learn so much about the process all at once. Then you can decide where you want to take it. We’re going to give you – Day 3, we didn’t get into it. Day 3, you spend a whole morning with my warehouse staff. We’re going to show you how to create shipments, how to prep products, how to do not just UPS but also how to do that LTL and save extra money if you’re at that volume. We cover so many things, ungating. We got a great PPC module that we do, pay-per-click where we’ll teach you how to do those really cheap ads with our wholesaler, replen products that we have a 3% acquisition cost on it, which is unheard of. It’s fantastic to be in front of those sellers or those buyers.
Jim: Let’s make that a little bonus content for the loyal listeners who maybe aren’t using that strategy. I know how we run our pay-per-click. I’m curious. If you had to give me your one-minute summary of how you guys set your pay-per-click up – and let me set it up this way while you’re thinking about that, Rich. Most people, when you say pay-per-click advertising on Amazon, the way they’ve been exposed to it is, well, that’s how I launch my private label product is I go in, and I spend a ton of money so I can get some people familiar with my product and hopefully gain some momentum and play in the keyword game, thousands of keywords and drilling down and finding the right keyword. That’s not what we’re talking about. With the Replens model where you’ve got hundreds of different products that you’re selling, you’re not going to go in and do research on every product. You’re going to just set up a general across the board low – a few pennies a click kind of thing just to get your stuff popping into the customer’s screen a little more often than it might otherwise, and you can track and see how that’s doing. It’s simple to set up. I think I remember setting ours up in about ten minutes. It’s not complicated.
Talk me through. What’s your guys’ philosophy? Give me the minute or two break down on how you guys handle that for a replens/wholesale seller. You don’t have any private label, right?
Rich: We have very little. We do have some stuff where it’s our wholesale stuff, unbranded wholesale that we’ve converted into private label.
Jim: Yeah, you put it in your own bag kind of thing.
Rich: Yep. Yeah.
Jim: Got you.
Rich: No, we’re not…
Jim: You’re not inventors. You’re not out there trying to research a thousand keywords and drill down like, hey, here’s the next best mousetrap. I hope everybody likes it, and I better do the great marketing work that’s needed. You’re not doing that kind of pay-per-click. You’re going to say, hey, let’s get our stuff in front of the average shopper a little more often and spend a few pennies a click to do it.
Rich: Yeah, ours is really basically just like that. We just set up a general ad campaign that it covers all of our products. For us, it’s a five cent click. We do the dynamic up and down. We may spend as much as ten cents per click, but we throw all of our products in it. We set the budget high. We set the budget 30 – I think we’re up to $35 a day. We have 1800 products, but we never even spend that $35 a day.
Jim: I love when you say we set our budget high. I’ve talked to other private label sellers of their product, and they’re spending thousands of dollars a day trying to get the attention of the community. That’s why we don’t start people out with private label. If I could just do a little mini rant here, Rich, I want to go back to your $30 a day thing. I want to finish that thought. If you start off with a private label and you get your dream product – and you found these magical keywords from this expensive software that you were talked into buying from some YouTube expert, and you bought the $4,000 course. Finally this stuffs coming from China, and they’re telling you how to go spend all this money on keywords and manipulate the review system, which isn’t allowed. Suddenly here comes all these competitors, and you’re playing the pay-per-click game trying to win with the best keywords. That’s not a game for the faint of heart.
That’s a way to roll the dice with about $50,000 and hope it works out, and if you’re new, you got about a 5 or 10% chance of winning that game. That’s just the industry statistics based on my experience and the number of people we have call us literally in tears with a garage full of the wrong product, but the software told them it was right. The guru on YouTube told them it was right. They found a great niche. They got a great price on it from China. Now they got a garage full of it and it’s not selling because someone’s selling it for a quarter of what they are. It’s a better product with better reviews. As soon as they start, they got competition. Replens and wholesale helps you avoid all of that.
Now, you may find some magic. You and Shelley are going to find some magic product at some point that’s going to be this little unicorn that’ll spike out of the rest of your stuff, and you’ll be ordering hundreds of units at a time. It’s your private label, and you’re building a brand. That’s going to happen organically. You’re at 1800 products right now, selling a handful at a time, buying a handful at a time. If a competitor comes along and wipes you out on three or four of those a week or a month or whatever, no big deal.
Rich: Yeah, we don’t even notice it.
Jim: You liquidate them out, and you stop buying it. You don’t have 1,000 sitting in your garage. You’re only buying the stuff that’s selling. That’s the beauty of this model. We go back to the pay-per-click comment, and I love how you said, yeah, we’ve got it set it pretty high, $35 a day.
Rich: It’s nothing, right?
Jim: Nothing, man, but that’s all it takes to just – to boost this whole system. You talked about your return on investment for that spin. That $30 a day is bringing you – well, more like what, 10 or $15 a day on average, I’m guessing?
Rich: Yeah, we’re probably at 15 or $20 a day is typically what we spend.
Jim: What does that bring you in sales? How good of an investment is that for you?
Rich: It’s 30 times what we spend, is our sales.
Jim: You’re getting about $600 a day in business that you wouldn’t be getting otherwise.
Rich: Correct, yeah.
Jim: You’re willing to spend 20 bucks.
Rich: Yeah, absolutely. We just throw all of our products in this campaign. The great thing about this campaign versus private label is there’s already proven demand on these products. There’s already people searching for it, so for five cents, you’re jumping in front of some of these that might see the single versus your two-pack, and now for five cents you’re jumping the line, right?
Jim: Yep, you’re at the top of the page.
Rich: Yep, absolutely.
Jim: For a few pennies.
Rich: We throw everything in there, and then we do it I think every week or two, or we’ll add all of our new stuff so that everything’s staying up to date. Then I track it and let it set for three or four weeks. Then I go in and I look at it product by product. Anything that’s not performing and anything that’s got a cost of over 15%, it’s not what I accept. It’s over 15%. I shut it off product by product. I let the ones that aren’t performing – where I’m overspending, shut those off. Anything under 15%, I leave those because those are the ones that are performing. I’m getting sales off of those clicks.
Jim: That’s beautiful. Yeah, so you can keep track of your average cost per sale, a cost. Amazon tells you this. You look at the data. I mean, you really can learn everything you need to know. There’s some really pricey courses out there that teach you pay-per-click. We’ve got a super simple module in the Proven Amazon Course that talks you through the basics of pay-per-click. It’s just not complicated. Most people are going to spend – you’re at 1800 products, and you’re spending $20 a day to advertise all of them and get them – like you said, it’s products people are already looking for anyway. All this does is just bumps you to the top of the page.
Those super lazy shoppers that aren’t looking at the price, they’re not going to scroll at all. They’re just like I need this product. There it is, top of the page, boom, click, got it. You got that sale, and you made extra margin on it because you can have your price a little higher when you’re running paid ads, and you’re still going to get those sales. That’s a good way to get that extra margin. That’s all you’re doing.
Rich: Yeah, absolutely. We generated over a quarter million last year from this strategy.
Jim: Over a quarter million of revenue.
Rich: Yeah, in revenue, yes.
Jim: What are your guys’ general margins, if you know off hand?
Rich: Our gross margin on product sales is 19%.
Jim: Got you.
Rich: Obviously, our net is a bit lower than that with the lease and the payrolls and stuff like that.
Jim: You made about 50 grand because you set up some simple pay-per-click ads, basically.
Rich: Yeah, and that cost me about – I think it was $8500 every week to run those ads.
Jim: It’s a no-brainer, and you can turn off the ones that aren’t working at any time. Really, we just gave everybody I’d say 85 to 90% of what they need to go do this if they’re a replen seller. Don’t be intimidated by it. Certainly don’t go buy an expensive course. There’s a module in the Proven Amazon. There’s a module in the Proven Amazon Course for just about everything but the relationships, the value of relationships – and maybe this is a good place to start to end this thing.
I can tell you right now I’ve been doing this for 20 years, Rich, and the way this works is, the people who go out and take the time to actually hang out, spend time, get to know the people who are making things happen, they’re the ones that succeed. The people who sit back and wait and they think I’m going to figure this out on my own – I can do this from home. I don’t need relationships. I need skills. I don’t need relationships. I need knowledge. I don’t need relationships. I need tactics and strategies.
You’re wrong. You’re flat out wrong. It’s the people who get out, build a relationship with Rich and Shelley, end up partnering with them on some project. Next thing you know, we’re looking over our shoulders. It’s five years down the road, and you guys have this incredible operation that you’re doing because you went to one of their first events, got to know them, and proved their system somehow, partnered with them on a project or something, and off you go to the races, writing a book together or something. That’s the way this works. It’s relationship driven. Yeah, numbers, data, products but it’s relationship driven.
Maybe it’s not Rich and Shelley. Maybe it’s others, but you’ve got to be building relationships. This is certainly a great opportunity to do it. I’m going to plug the website again. Do you happen to know what it is off hand?
Rich: Replen Wholesale Workshop.
Jim: Nailed it, dot-com. You got it, buddy. I had to write it down, man.
Rich: I got to pull up – I keep checking it every day to see if there’s any updates.
Jim: Yeah, Robin’s working hard on it, man. We’re plugging away. We’ve had a couple server issues lately slowing some things down. I’ve got my tech guy busy putting out a couple fires today. That’s one thing when you start having some websites with significant traffic is, man, the hackers love coming after you and causing havoc. You’ve got to have a good tech guy, which we got now, but that website’s coming. By the time you’re listening to this and the listeners of this show are listening, it’ll be up and running. We’ll be ready to start locking in some of those dates. Just give us a call and get that rocking. Any final thoughts, man, any advice?
Rich: Yeah, so I definitely have to plug the last day and a half.
Jim: Oh, we haven’t walked through it.
Rich: Yeah, so we’ve talked about the replen part of it. I think this community does replens better than any in the world, right?
Rich: The last part of it is wholesale and then bringing the two of them together. The last day, that fourth day is bringing replens and wholesale together and how they complement each other. Also, at the very end, we talk about team building so how you can hire your VA, your shopper, how I built my team here, and now I have a team of experts in the different areas. I don’t want you guys to be intimidated by wholesale. I love wholesale, and I think it’s just a natural progression from replens to wholesale. I progressed the opposite way, but it worked for us. I love wholesale, so we really get into – the two types of wholesale that I like best are working with distributors and working with the brands directly. We talk a lot about the opposite goals, getting into wholesale, and why brands don’t like to work with third-party sellers and the different things that we can do to overcome that as far as being the industry expert and not being that average third-party seller that doesn’t pick up the phone, or doesn’t respond to emails, or negotiates these crazy discounts. Then they’ll place a $100 order. That stuff drives people crazy.
We talk about all the stuff that you need to set up as a base to have a really successful wholesale business. At least for me, scaling your business, one of the best ways to do that is through wholesale, whether it’s finding new wholesale products and/or moving your replens to wholesale where possible. I really like to think that we’re the wholesale experts. We got it figured out, and so I love teaching people to not be afraid of wholesale. The right way is to get into it. Dip your toes and scale your business through wholesale.
Jim: Yeah, I think maybe we need a wholesale, Proven Wholesale – it’s either Proven Wholesale Sourcing or provenwholesaletraining.com. We’ll stick it in the show notes. That’s our current wholesale course. I think you guys need to do a – go through that and do a version 2.0. You’ve done a lot of it now. Teresa, our coach for that, is into some other projects. It’s still phenomenal current up-to-date content, but I bet you guys could enhance it and add to and expand on it a little bit. Improve the Proven Amazon Course and have that course out there as a separate updated version, all kinds of opportunity.
For those reading between the lines of how we do things around here, as students succeed, we turn them into coaches. We turn them into leaders. We give them a platform. We say, hey, create content. We pay them well to do it, and our community gets better and it gets stronger because of it. We have more leaders and more people that you can rely on and listen to and learn from. That’s how I’ve been doing things for a long time.
I’m truly honored, Rich, to be working with you and Shelley. You have the entrepreneurial spirit. You got a beautiful family. You guys are doing life the right way, man. You’re a success story, and there’s a lot of businesses the past 12, 18 months have just been body slammed. A lot of businesses have gone under. A lot of businesses are struggling. Here we are in a community of people where people are willing to do the work. Their businesses are thriving. We’re blessed and I love working with other leaders that have that teaching heart while succeeding themselves. It’s an honor, dude.
Rich: Thanks, man. I love this community, and it’s been great being a part of it for the last six years learning from you guys and now giving back.
Jim: Yeah, you’re giving back in a huge way. I don’t know that you ever took anything. You’re just giving. You got nothing you got to give back. You don’t owe anybody anything, but you’re sticking around and teaching. I certainly appreciate that, man. There’s plenty of people that start succeeding. They just put their nose to the grindstone, and we don’t hear from them again. You guys are off building incredible businesses.
The next time we hear from them – I had a guy come up to me at an event. I spoke in Hong Kong, the only time I was ever there. He came up to me and said, “Hey, I feel like I owe you a bit of a thank you. You never heard of me before. I never talked to you before. I never sent you an email before, but you taught me a business strategy through one of the programs you launched several years ago.”
I can’t remember. It was tens of millions of dollars the guy had made. I’m like, “Why haven’t you reached out to me? Let’s teach other people what it is you do.” He’s like, “Aah, I just like to stay quiet. I don’t want to be a leader. I don’t want to be in the spotlight.” I’m like, “All right, I understand that.”
There’s people out there like that but there’s also people like you. They’re like, hey, you know what? I’ve never spoke on stage before, but we got the event coming up. All right, I’ll do it. Before we know it, man…
Rich: There’s plenty of opportunity for everybody.
Jim: Absolutely, huge opportunities everywhere. There’s plenty of gaps in what we have to offer here. All right, man, well, let me talk to the listener for just a second. I think we’re going to wrap this up unless – did we leave anything out, Rich? I don’t want to…
Rich: No, I can’t think of anything else. I’d love to host you here. I think we built probably – in my opinion, I think we’ve really built something amazing.
Jim: Oh, you have.
Rich: I think that there’s a lot that you could gain from coming out and spending some time with us, and not just from me, from my whole team. That was one of the biggest things I wanted to do is just involve my entire team in teaching because I’m not the warehouse expert. I did it a few years ago, but I haven’t bagged and tagged anything in quite a while. My warehouse manager is way better at it than I ever was, and so come out here and learn from him.
Jim: I mean, that’s just great leadership. It really is. I don’t want to talk to a leader who knows all the answers because that means they don’t know how to grow a team. I want to talk to a leader that says I know someone who knows the answer. That’s a good leader, right? Not someone who can answer all your questions. No one knows it all. Not in this business. We never will.
I haven’t said it in a while, but I’ve been doing this over 20 years now, Rich. The longer I‘m in it, the more I feel like I don’t know anything. Now it’s all working. What I am doing is working well, and we’ve helped a lot of people build great businesses, but every time you turn a corner, you’re like this whole new frontier. There’s no rules. What do we do now? How do we do it?
Just to go forward. Let’s start testing. You test small. You take small risks. When something works, you go a little deeper. You keep doing that, and you keep building. That’s what we’ve been doing for a long time, and that’s what you guys have been doing. I love it because there’s no big risks needed, just no big risks needed.
Rich: No big risks, and there’s no bigger – there’s never been a bigger opportunity. I mean, the market has changed in the last, what, 12, 14 months where I personally don’t think that the amount of sellers has increased to the level that online sales have increased.
Jim: Oh, no way. It’s lagging. It’s lagging way behind.
Rich: Yeah, so we need more people succeeding, and we need more people. The market needs more people selling. It’s not saturated, and if you know how to do it and learn how to do it, the opportunity is huge. There is that vacant hole that needs to be filled by merging experts.
Jim: You look at Amazon. They hired half a million people in just a matter of a few months just to keep up with customer demand, and they’re still sitting right now on I would guess millions of ASINs that people would buy if they had them in stock. They’re just sitting there at a zero because no one’s bothered to box it up and put it online where someone can buy it. Go to the store and put it in a – list it. It’s sitting there. It used to sell. No one’s bothered to go out. The demand is far outpacing the supply in physical goods right now. There’s a lot more money flying around out there than there are goods, so this is a window of opportunity, for sure. Yeah, if you’re willing to do the work, man, this stuff works, awesome.
Hey, thanks for hanging out with Rich and I today. Talk to the listener here for just a minute. Hopefully, you found it as valuable as I did and as exciting as I did, and even if you don’t fly and see Rich and Shelley in Phoenix, please know we offer a host of phenomenal options. Not the least of which is just listen to five or ten more of these podcast episodes. Meet some of the real people who are succeeding using these simple, low-risk, high-potential return processes that we teach around here on the number one e-commerce platform in the world, what I believe to be the number one business building opportunity in all of world history. The risks you have to take are so tiny, like we’ve talked over and over again, and the potential is so huge. There’s no need to go out and take a huge risk, learn a bunch of new tech skills, spend a bunch of money. No, this stuff works so dip your toe in.
Get the Proven Amazon Course or call our coaching office. Those links are in the show notes. If you want to fly out and meet Rich and Shelley, hang out at their place for a few days, see their operation, go deep, build a relationship which my theory is – you may not be thinking this way, Rich, but my theory is if all someone did was get to hang out with you guys for a few days and there was no curriculum – it was just getting to know Rich and Shelley Potter because they’re going places. It’s worth three times whatever the price tag is on this thing. Now you’ve got someone you know in the industry who knows what they’re talking about that you can call on, and as the rules change and as the seasons drift, you’re going to have someone that’s creative and winning and knows what they’re doing. As a friend, you’re going to know him.
Hey, I think I’m going to sign off here. This has been a really fun episode for me. Thank you again, Rich. Tell Shelley I said hey.
Rich: Absolutely. Thanks for having us.
Jim: Can’t wait to see you in Tampa in July. If you’re listening to this before July 2021, we’re getting together in Tampa. Go to theprovenconference.com. Rich will be presenting on stage, maybe a little nervous, so give him a big smile if you’re watching him. He’s going to do a tremendous job for us and Shelley too, hopefully, as some of our new leaders and up and coming – they’re on our coaching team as well. I’m just surrounded by such great people. I’m blessed.
God bless all the business building warriors out there listening today. It was cool hanging out with you. Please leave us some feedback. Leave us a thumbs up or subscribe, or if you’re on iTunes, leave us a five star. Tell friends about silentjim.com. That’s the only advertising we do is when I point at this little placard that says Silent Jim. That’s our marketing right there. Spread the word, man. I appreciate it, and that’s how we find new listeners. We’ll have another episode for you again real soon. Thanks for watching.
Announcement: Hey, before we go, just a quick thing. I wanted to remind you that Helium 10 has become a great sponsor of this show. They’ve got an offer exclusive for the audience, the listeners, the business building warriors of this community. If you go to Helium10.com and use the discount code SSMR, as in Silent Sales Machine Radio, you’ll get the tool that’s being used by over one million Amazon sellers at this point. They’re actively tracking over two billion different products on Amazon at any given time, providing data and helping you make good decisions on what products you should and shouldn’t sell, as well as an entire suite of products that help you run your entire Amazon business instead of piecing it together a little bit from here, a little bit from there. It’s a great tool. Many, many coaches on our team use it, the content creators. I know that Nathan, our coaching director, swears by it as well, so we were very excited to bring them on as a sponsor. Again, Helium 10, discount code SSMR and they’ll take good care of you. Hey, God bless you, business building warrior.
Announcer: Thank you for listening to Silent Sales Machine Radio. Visit silentjim.com for a link to our free newsletter, our free Facebook group, and all of our resources mentioned on today’s show.