Your Profit Store Review – Copy, Paste, and Profit?
Official site: https://goo.gl/FFBzI9
Whatever motivates you is what you need to focus on. For me it is easier to focus on something more money can do for me rather than the actual dollar figure itself. So my goals may include the dollar figure I'm shooting for, but a better goal for me would be “Take a trip to Israel” because that is easy for me to visualize. But what works for me may not motivate you. This is about you... so write down the yourprofitstore review that motivate you to push forward.
**For additional reference and information about goal setting please see Zig Ziglar's 7 Steps of Goal Setting: http://www.build-creative-writing-ideas.com/zigziglar.html See you in the group... Ryan Reger with Jenni Hunt, Jim Cockrum, and Brett Bartlett PL the Easy Way Mentoring Program Coming Up Next... In Lesson #6 you are going to be determining your budget.
Lesson 6 is the last lesson before we jump into Module 2 and start looking at choosing a product! You made it! This is it guys... the final lesson for Module 1. Next up we look at choosing a product! We know you are excited for this next module... we are too! We have some great tools and resources to share with you to help make the process easier – but more importantly, to help keep you from wasting time and money on products that will never sell. BUT – one more very important piece before we head into product research.We have to look at budget.
I know – the “b” word can be a little scary and/or boring... and often is something many want to just skip over. But, it doesn't take long and it simply helps you get all of your ducks in a row before you get into spending money on developing your private label. We would be doing you a disservice if we didn't mention it – but, we promise to keep it short and sweet.
;-) Because, frankly – like you, we are excited to get to the good stuff coming in the next yourprofitstore review! Your Lesson... Determining Your Private Label Budget I am so thankful I found an easier way to do private label because when I first started with it, I was in no position to spend thousands upon thousands of dollars to get it going.
My wife and I were actually in the process of building our house so every penny seemed like it went towards that project. It was super important for me to find a product that I could source easily and inexpensively. For those of you that have an extra $100,000 in the bank to invest in private label products...
this lesson may not be for you, but for those of you working with a budget, take heed. You are probably aware or have heard stories of sellers getting into private label and having to spend upwards of $10,000 and more to get their first order placed. It's very easy to spend that kind of money if you have a product that costs $5 from your supplier and the minimum order is 2000 pieces.
But please remember we are focusing on the easy way here. Even if you have $10,000 to spend on inventory, we are going to be teaching methods to test out your product at a much lower expense. I guess I could have also called my book “Private Label the Cheap Way” with 'cheap' meaning less expensive, not choosing products that aren't good quality.
Let me go over a few of the budget items you need to be aware of when you are researching potential yourprofitstore review: What to Consider When Preparing Your Budget for Private Label 1. Cost of Product: This is the obvious one and will be the major expense in this process. 2. Shipping: Will your suppliers ship direct to Amazon for you or will you have it sent to you first and then off to Amazon or to a third party prep service? 3.
Packaging: Your supplier may offer this and be able to roll that into the cost of the product or you might have to go to a third party to have packaging printed. For the testing phase of your products you might not have to spend much on this if anything. 4. Amazon Fees: Don't forget about these when you are figuring out your overall expenses.
A good rule of thumb is that Amazon is going to take approximately 1/3 of your sales number. If you are selling $10,000 a month, Amazon fees will be somewhere around 30% or $3000. This includes their 15% commission and the pick and pack fees, and weight based shipping fee (another reason to pick a lighter product). 5.
Promotion: You are most likely going to be running Amazon sponsored ads to gain momentum when you test and launch your product(s) See you in the group... Ryan Reger with Jenni Hunt, Jim Cockrum, and Brett Bartlett PL the Easy Way Mentoring Program Coming Up Next... In Lesson #7 where we start Module 2!! It's time to look at choosing a product.
Introducing MODULE 2 The appetizers have been good, but now it is time for the main course. Module 2 is all about choosing your product. Choosing your product requires some brainstorming and research... and that doesn't mean you just list out a bunch of product ideas. Whether you already have an idea of the direction you want to go – or you have no idea, we will walk you through the process using the infographic as a guide.
Ready to dig in? Good... let's go Your Lesson...Choosing a Product Overview I like visuals so we created (rather Jenni created :) ) this awesome infographic to give an overview of how to choose a product for private label. There are 2 main paths to selecting a product: 1) Product Driven 2) Customer Driven No matter which way you go we're not going to teach you to order 1000 units of widget x and hope they sell. Jim Cockrum calls that putting lipstick on a pig marketing. What we are going to teach you to do is test in very small quantities.
There is absolutely no reason why after following these lessons that you'll have a garage full of widgets you can't sell. Let's break these paths down. Product driven simply means you start with a product idea and customer driven means you're researching what customers want first then finding a product to match that.
Let me explain by referring to the infographic
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