What if I tell you there’s a way you could make $10k per month passively…?
I mean, doing whatever you want: playing golf, on the beach, by the pool, watching tv, hanging out with friends… Whatever.
No matter what you do, you get paid…
And there’s little to no work involved…
Where most of your “working hours” consists on refreshing your sales and profits stats.
And the best part…?
It doesn’t matter if you have experience or not.
You can pull this off even if you only have $100 left in your bank account (Or credit card balance).
And it doesn’t matter if you don’t have time (with Games of thrones, The walking dead, etc… Who really have free time to put it into work, right?)
What would you say to me?
If you’re anything like me, you’ll say “BULLSHIT!”
Everything sounds suspiciously good… So, listening to someone talking like that about selling on Amazon should raise red flags.
The fact of the matter is that Amazon is not for the faint of heart… In fact, I wrote something about that a few months ago, on my personal FB.
And that my friends is 100% spot on when it comes to Amazon.
There are risks, but the rewards make it worth it.
Ok, with that out of the way, let’s talk about…
How You Can Make A Passive $10k-Per-Month Income.
First off, let me tell you that it’s 100% realistic to think you could make that amount, if you decided to create your own products and to use “Fulfilment By Amazon” or FBA, more on that on the next post.
But there are three things you need to take into account
Number 1.- You won’t be able to “kill it” in a couple of months, unless you’re tremendously lucky (Even if you have deep pockets).
I’ve seen marketing experts taking 6 months to a year to make a product take off.
So, just to make it more down-to-earth, think of a year for your product to start making a decent profit.
What I mean is that you need to be really patience with this business.
Number 2.- You need to work 4-6 hours a day at first until you get everything you need.
This goes without saying, but basically you need to have a product in order to sell it on Amazon.
So, you’ll need to put in time to do a proper research, find a great product, improve the product (and this is key), create a full-blown listing on Amazon, and then create a marketing campaign.
See? I know mentioning the word “work” may take away the “sexyness” of the Amazon business model, but the good news is that you do that work only once, because when all the pieces are in place, there’s nothing else to do but to refresh your stats (even when instead you could be doing something more productive, but I know how addictive refreshing stats could be hehe)
Number 3.- You need money to invest in this business, otherwise it won’t work.
I’m not talking millions here, but a few thousands of dollars.
Think of this… To have economies of scale (getting product manufactured for a competitive price) you should order more than 100 units from any manufacturer.
Also, if you want to customize the product to the demands of the market you already researched, you need to order no less than 1,000 units (and sometimes a few more, depending on your manufacturer)
So, let’s say you find a great product, that’s selling like hotcakes, and after researching what the competition is doing wrong you know exactly how “A great product” looks like…
After contacting a few potential manufacturers, and requesting some samples, you decide to go with the guy that charges $3.5 per item.
We’re talking about $3,500 in product costs for a 1k order, add up shipping, duties and taxes, and inbound shipping, and we’re easily talking about $5k – $6k.
The good news is that you don’t need to disburse all that cash upfront, because usually the manufacturer starts with a downpayment of 30% and they take 30 – 45 days to complete the order, so you pay the other 70% a month or so after that. And usually your freight forwarder can give you some credit, so that gives you another 15 days to pay for shipping.
Everything Sounds Good, But Where’s The Frigging Money, Lenin?
I’ll save that for another post, for now, I can tell you that my ROI is usually 50%. I mean, that you recover your investment and on top of that you get 50% more.
When you think about it, there shouldn’t be other investment that can give you such a crazy ROI, and that’s just talking about average performers.
For one of my top selling products I’m easily making a 200% ROI, that means that if I put in $20k, I get the $20k back, plus $40k in pure profits.
As you can see above, I sold $90k, but I only invested $19k (product cost including shipping), so I got a payout of $60k… $41k of pure profit… And that’s only in the last 30 days (consider that sales has been slow this month).
In the next post I’ll share more about the exact steps you need to take to get similar results, but before you go, please leave a comment below and click on the small “heart” icon below this post.
I’d love to know your thoughts and to answer any questions you may have because I’ll base the next post on your questions (How cool is that!?).
In case you’re wondering what webapp I am using to show my sales, profits, etc, it’s called helloprofit, you can check it out here: helloprofit.com (aff link)
Have a good one!