June 26, 2024; Keepa Deep Dive & Q&A
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In this video, participants dive deep into the essentials of selling on Amazon, particularly focusing on the Keepa tool and how to leverage it for better inventory decisions. The presenter shares insights on understanding product performance metrics, navigating sales ranks, and the importance of analyzing historical data to make informed purchasing choices. The session also covers tips on optimizing Keepa settings for maximum efficiency, recognizing suppressed sales ranks, and making educated guesses based on product trends. Additionally, there are discussions on how to manage cash flow effectively, including credit card strategies, potential profits, and the balance between reinvestment and ensuring sufficient funds are available. Whether you're a seasoned seller or a newcomer to the Amazon marketplace, this masterclass offers valuable information to help you enhance your business operations and increase profitability.
Session Introduction (0:00 - 5:30)
Overview of the session's purpose: a mini masterclass on using Keepa for Amazon sellers.
Participants are encouraged to ask questions anytime.
Recording of the session will be available later.
Understanding Keepa (5:31 - 20:00)
Explanation of what Keepa is and the importance of using it as a data aggregation tool for Amazon sellers.
Discussion on Keepa's data sources: scraping, user input, and user settings.
Pricing was previously free but is now around $20 per month.
Fundamentals of Using Keepa (20:01 - 50:00)
Basics of setting up Keepa, including adjusting settings like data range and graph overlays.
Understanding sales ranks (BSR) and their implications for purchasing decisions.
Importance of tracking product performance and adjusting settings appropriately for higher efficiency.
Sales Ranks and Market Dynamics (50:01 - 1:15:00)
In-depth discussion on how sales ranks fluctuate and their significance in evaluating product viability.
Explanation of suppressed sales ranks and how they affect product analysis.
Practical examples of using sales rank charts to assess product demand.
Keepa Features and Advanced Techniques (1:15:01 - end)
Exploration of Keepa's features like tracking price history and understanding seller offers.
Discussion on strategies for sourcing and evaluating products efficiently.
Importance of utilizing the track product feature and insights from direct user experience.
Answers to participant questions regarding utilizing Keepa, cash flow management, and leveraging credit in operations.
Detailed Summary:
In this comprehensive video, the discussion revolves around various aspects of selling on Amazon, particularly through the use of tools like Keepa, inventory management, and effective sourcing strategies. Here's a detailed summary:
Session Overview: The session aims to provide a mini masterclass on Amazon selling, focusing on both foundational knowledge for newcomers and advanced strategies for experienced sellers. The presenter invites questions throughout the session and emphasizes a relaxed, engaging atmosphere.
What is Keepa? Keepa, crucial for Amazon sellers, is a data aggregation tool that scrapes product pricing and sales history from Amazon. Initially free, it now has a subscription model, providing internal data essential for making informed purchasing decisions.
Understanding Keepa Data: Keepa shows product performance over time, giving insights on price history and sales rank. Users can configure settings to see price history, compare marketplaces, and identify key product performance metrics. Sales ranks reflect a product's popularity relative to others in its category but are not a guarantee of sales volume.
Sales Rank Insights: Sales rank varies by category and can be indicative of product movement over time. It's important not to solely rely on sales rank for purchasing decisions, as it doesn’t reflect real-time performance nuances.
Sales Rank Suppression: Certain product categories, particularly grocery and health & beauty, may suppress sales ranks, misleading sellers about product viability. Therefore, nuanced understanding of sales data is required.
Leveraging Keepa for Variations: Different variations of a product may share the same sales rank, complicating reliability. Tools like Keepa can track performance of each variation distinctly.
The Significance of Proper Settings: Users are encouraged to set up Keepa optimally to track their products effectively and utilize its features to enhance sourcing efforts.
Management of Inventory: Discusses how a systematic approach to gathering, prepping, and shipping inventory can streamline workflow. The importance of using effective tools and systems to track inventory and financials is highlighted, including metrics to determine restock needs based on sales velocity.
Importance of Cash Flow: Proper cash management strategies are discussed, emphasizing the importance of tracking inventory investments against sales turnover. Understanding the use of credit wisely is advocated: leveraging credit can propel growth but needs to be balanced with the capacity to pay off balances without incurring interest charges.
Sourcing and Automation Tools: Using third-party providers and automation tools to increase efficiency in sourcing is recommended. The importance of being open to pivoting to leverage new opportunities is stressed.
Future Sessions: The conversation ends by noting the potential for future discussions on more advanced topics like inventory management systems, cash management strategies, and possibly guides for less experienced sellers.
Overall, the video emphasizes the importance of understanding tools like Keepa, the significance of cash flow management, and the value of systematic operations in successfully scaling an Amazon business. The community aspect of sharing knowledge and experiences in the Amazon selling journey is also highlighted, reinforcing that learning from one another is key to success.
(00:01) so then yeah we'll get started and so the purpose of this session is just to basically do kind of like a mini uh keep a master class and so some of this stuff obviously some of you guys will probably be familiar with and I do want to run through some of the basics um in some of the fundamentals just for those that may be a little bit newer to Amazon or for those that maybe just want a little bit of a refresher so we will be going through some stuff that is pretty uh lowlevel and so of course if you're familiar with that I 100% understand if
(00:29) you don't want to um partake in that information but it could be a good refresher for you but we will be getting into other things that are not as low level and a little bit higher level uh a b a bit later on okay so just like with any of these sessions uh we don't have any specific time cap on how long these are going to go for most of the time when we do these sessions they are relatively unstructured uh today I have a bit of a a task list just so I have a reminder of everything I want to cover but you will
(00:59) find that I can kind of be add and go back and forth for some things as like however we're seeing them flow so we will cover everything that's in this list and probably more uh but it's not going to be like a set a set and stone structure and then of course if you ever have any questions along the way uh certainly feel free to just uh like chime in whether you just like interrupt me uh just briefly on the mic uh just don't yell at me or just uh put it in the the voice chat chat and just say you have a question uh when whether or not
(01:30) you want to hop on the mic or ask in the chat that's completely cool I'll be monitoring that throughout but uh yeah so welcome everybody for those that haven't attended any of our sessions uh like I mentioned this is pretty just a relaxed way of doing things and then typically at the end we'll have a bit of a Q&A as well and uh also as I mentioned the session will be recorded it'll be uploaded uh probably either later tonight or tomorrow so if you do want want to uh come in and out and you feel like you're going to miss something
(02:04) everything will be documented and you can use a prefer back to it later so I just wanted to get into some of the intro stuff so number one is just what is keepa and where is it getting its data from so obviously anybody that is familiar with Amazon is familiar with keot or they should be in some capacity it is the only tool that uh we as Amazon sellers absolutely fundamentally need and what it is is it's a tool that uh congregates or Aggregates data from Amazon by regular data scraping through Amazon and uh also taking
(02:41) information from their users like you and I and then charting that data out so keepa has been actually around for an extremely long time uh and for a very long time even when I first started with Amazon they used to be completely free and then it was I think about a year or so after I was into Amazon I think it was like in in 20 2019 or 2020 they actually started monetizing it so this tool actually used to be completely free and it's kind of wild because they charge now like20 per month and it's worth a whole lot more than that for the
(03:12) data it can actually provide us but yeah so it's basically like the industry standard when it comes to Gathering and charting data for Amazon and at its core it allows us to see how products have been performing um it doesn't tell us exact data which we'll get into a little bit later but it gives us really good estimations and it helps us ensure that we are making viable purchasing decisions uh I have heard of some sellers in the past that for some reason they just believe that they don't need keep at all and they
(03:44) just more or less Blind by based on the current sales rank and I've actually heard of some people being relatively successful with that but you are kind of going in blind you're taking a lot of unnecessary chances considering you can have access to a tool for so cheap to almost eliminate those additional risks so that's why this tool is so essential right so I also wanted to mention uh I kind of touched on it on where keepa is getting their data from so they don't specifically share exactly what their methods are but we
(04:21) can we can assume some things based on all the data that we can see and how keepa reacts but it seems like Kea actively scrapes data directly from Amazon and they also we know for sure that they are getting data directly from their users every time a user loads a product on Amazon right so if you come into your settings there's a setting down at the bottom that says allow the add-on to gather Amazon prices to improve our price data so every time you open a page with keepa installed and you have that little option turned to yes
(04:53) you're actually sending data to keepa to uh help update their software a lot of softwares that do a lot of um data aggregation do exactly that another popular example would be like scan unlimited that's how they get their database so so accurate and so quick they are uh scraping data from their actual users okay so now I just wanted to go through a bit of fundamentals when it comes to keepa so the first thing is I just wanted to go over the settings and again this is relatively lowlevel stuff but for those that are not familiar uh you
(05:32) may not actually even really know about the settings that are in keepa or what they can do for you so these are the standard settings that I have on all of my keep accounts uh by default yours will probably look very similar just with a few key differences but you can basically adjust your data however you want I believe uh when you first open up a keep account I believe your default range is three months I automatically default mine to a year and that just means when you open up a new listing or a um a product page it'll default your
(06:02) data to a year period so I Believe by default it is set to a year I or sorry three months I prefer a year um besides that all these other settings are probably very similar to when you first open an account besides the tracking mode yours will probably set to basic if you've never changed it I default ours to Pro which we'll be going over a little bit later on and then also the other setting that is actually relatively handy if you do use it is uh show price history grph as overlays when hovering over Amazon products I believe
(06:37) this is turned off by default but if you have it turned on when you actually search for products on Amazon so like say you do a title search for Nike when you uh hover over those products it'll actually just show you the keep a graph live so if you do like a lot of oops reverse uh Source uh reverse sourcing or manual sourcing this can be pretty handy cuz when the products actually load you can cover over them and you can see a keepo graph that pops up if it loads here just like that it pops up in the bottom right hand corner not for
(07:07) sponsored products so it's a a Nifty little feature to have and then additionally one thing that some other people may not be familiar with especially those that sell from Canada to us is there is a setting uh where is it here to automatically show information for cross border stuff uh it's been a while since I looked at this where is it it might be in the price history I believe it might be this setting down here that there's a little bit a little Globe yours will probably look like if you hit that you can turn it on and then
(07:43) it'll display whatever Marketplace is you choose down here in your current currency so if you don't have any custom tools and you regularly Source across from Marketplace this is actually something that's very handy to use um so you can use any Market places you want chances are most of us will probably be do in Canada and us and then this will just show you what the current buybox price is in Canadian currency so like I can see like with my tool the current bu box is 5557 us this is showing that it's uh 7597 Canadian so that's a pretty
(08:13) handy tool to to utilize if you don't already and you do crossb uh sourcing okay so then the next fundamental I want to uh discuss which is a key Point uh when it comes to keepa is what are sales ranks or bsrs best sellers ranks so if you've ever looked at a a sales rank chart I'm sure many of you have probably seen the ones that we produce that we update regularly I don't think ours has been updated for a couple months but it's just charting the data that comes from keepa and this data that keepa is getting is coming from Amazon
(08:52) and this is just showing how many products are in each and every category and everyone that has a keep account can access this at any time all you have to do is come into the data Tab and come into the category tree and then make sure your Marketplace is set to the corresponding Marketplace and this will give you a live update of how many products are in each and every category right and then a sales rank chart will just tell you so say if you have um the music category and it's 3.
(09:20) 5 million products total it'll just display what is like the point the the the top .1% the top 1% top 2% Etc the reason why this is important is because there are tens if not hundreds of millions of products available for sale on Amazon with millions of products being added every couple months um and as Amazon sellers we are uh typically kind of only looking at the top couple percent of products because those are the ones that make the most sense in terms of sales volume turnover profit Etc so sales rank is not something that
(09:56) I would ever use to make purchasing decisions but it is something that we do actively utilize as a initial filter when we are looking through products so like for ourselves for example in Canada most of the sales rank criteria that we set as a loose filter uh to even consider looking at a product is about the top one to 2% of the corresponding category and that just means that say if it has let me pull my calculator here because it's not a good time for math if a category has a 100,000 products and we're looking at the top 2% of products
(10:33) that means we're looking at the sales rank of about 2,000 or under and that is again just to uh be a initial filter to determine whether or not that product is worth even um us exploring any deeper uh amen said to compare other markets under the listing of a product here is the globe icon Jordan mentioned so yeah if you look in that chat it's just a little Globe you can click on that guy and then you can manage your settings to ly in there it says compare International Amazon prices so mine will look a little bit different it's just at
(11:06) the bottom of the graph here so sales rank what that means though is how well that item is currently ranked in its corresponding category so for example if something is sales rank number one that means that as of right now the very time that you're looking at that product that is current the best selling product in its individual category however sales ranks are not static they consistently change so again that's why we don't use it as a purchasing decision just as an initial product filter and as far as we know again some of
(11:47) these things are speculation because keepo or Amazon does not share this data with the public is that whenever a product sells in theory it should be gaining a better sales rank right so if a product has a sales rank of 100,000 and it makes a sale technically that becomes a more IND demand product because it just made a sale so in theory depending on how the rest of products in that category doing it should move up in sales rank so it may go from 100,000 and it may go all the way up to 30,000 depending on how
(12:19) slow the category is and then if it doesn't make any sales after that it'll just slowly start creeping back up whereas if you have something that's just like consistently making um sales you know every sing every couple minutes or multiple units per hour you will see consistent uh sales rank drops where looks like maybe the sales rank chart is not even moving it just looks like they're just like kind of like a little dot at the bottom of the graph which we'll be looking over some examples a little bit later on as
(12:49) well so then for sales rank drops so as we mentioned when we look at a listing when we look at keepa we see obviously these green things on a keepa graph and each time we see the sales rank increase the graph go up that is an indication that that product is becoming less and less popular or it's not making a sale and then when we see it drop randomly like like it does right here that is typically indicative of at least one sale occurring because it went from a not so popular product to a much more popular product because it is showing
(13:23) some Demand right so sales rank drops this is this is one quote I actually really like from Chris Grant is sales rank drops does not equal sales we can infer that a sales rank drop typically means at least one sale has occurred but we're not seeing the full picture because Kea does not chart data every single second of every single day it's charting data based on their user base that is currently using Kea if they're refreshing that product page and when they're scraping data themselves and so in general from what I found it
(14:02) seems like most products they kind of update their data every about 15 minutes or so but there are some products that you may find you might come across uh every now and again uh their data actually doesn't update for days or weeks at a time and that's because it's not in their system it's not um for some reason their system hasn't picked it up as popular enough to wen't constantly checking it or people with the keep extension have not loaded that product um I have an example of a product myself is it's a product that we are the
(14:33) exclusive seller on and so I can very much see the data that's happening and I've reviewed that product multiple times where I look at our own product stock via the data Tab and there's no purchase limits on our inventory and it'll say um say for example when we get close to stocking out it'll say for a consistent period of time that we only have one unit in stock even though like a week ago we stocked 100 or 150 units but it still shows that we only had one in stock and it's not showing that we sold any at all and that's simply
(15:05) because keepa has not charted that data yet so we stalked say 150 units and now when keepa charts that data Maybe I already sold 50 of them so now it's just indicating that I only stocked 50 so this is something that's very important that you need to keep in mind is the keepa data is not perfect but it does help us make very good educating guesses and some of the things that we'll be going over later in the session as well will be to go over how to kind of look at the data from a much bigger picture and kind of see everything
(15:39) that's actually going on with the listing so we can make even better educated decisions uh the next thing I wanted to discuss is how keepa data applies to variation products specifically because when we look at a product and if it has a variation I'm not sure if I have any variation products up here at the moment I should have so this is a variation right here so when we see a product with a variation we may look at different variations and it may have slightly different looking chart data but typically speaking the sales rank will
(16:17) be exactly the same across all variations so when we're looking at a chart when we're looking at sales rank data specifically that is shared between all variations of a product so when I product is a variation uh that data that we see is no longer reliable whatsoever versus if we see a product that has no variations so it's only one product that has no other options on it when we see data like this this is much more reliable data versus if we look at something like this it has multiple variations so we can no longer trust
(16:51) just these sales rank drops that we see so we have to do a little bit more digging to actually determine um the volume of this product and the viability of it so any questions so far about anything that I've discussed okay I'll keep on so then the next thing I wanted to discuss is what we call suppressed sales ranks and a suppressed sales rank happens typically in the categories of grocery and health and beauty it can happen in other categories but it's much more prevalent than gross and health and beauty items and so what happens with
(17:35) these products is as far as we know for some reason uh Amazon just stops uh reporting the sales rank data we don't know why they do it whether they just don't feel like reporting anymore whether it's a glitch Etc but they just stop reporting it on some listings for some reason and so we may look at a product that looks like this that has absolutely no sales rank data but it's very deceiving because this product actually does sell um and there are products that sell actually hundreds of units per month that have suppressed
(18:06) sales ranks that if you didn't know that and you didn't dig deeper into it you could be passing up potentially viable products right um and I'm actually going to just briefly touch back here so the sales rank we can actually find this directly on Amazon so under the additional information the best sellers rank it's right down here and this is the data that keep us obtaining from Amazon and charting right and and so if we see a suppress sales rank item we come down here it's not going to have any sales rank data we don't see any
(18:34) indication of any type of sales rank right and that is the main thing that keepo is charting and that's the main thing that they're using to determine whether or not products are actually making sales so we're going to dig a little bit deeper into this product a little bit later on but that is what a suppressed sales rank is so any questions so far okay cool we'll keep on keep it on so now we're just going to talk about some of the features of keepa again this is still somewhat some of the fundamentals uh but a lot of these
(19:12) things a lot of experienced sellers or I wouldn't say experien but people that have been around for a long time don't even particularly know about uh we've been doing a good job making it more known that you can use this data but it seemed like before we did a lot of people were not familiar with it and so we're going to be looking at the data Tab and specifically the offers tab in the data tab so when we say that we mean the data section here in keepa h kale you want to mute your mic there yeah sure no problem so we come into the
(19:46) data tab in here it does summarize a lot of data for us so you can get a lot of the summarized prodct details directly in the data tab I don't personally use that really at all what I'm uh specifically looking at is the offer section and sometimes the buy box statistics so the offer section allows us to see how or what kind of stocks sellers have had over a given time with a caveat right so if a seller is a fbm seller so they don't have the prime badge next to their name they're fbm like these sellers down here we can't
(20:24) trust what we see in terms of their stock because fbm sellers can change stock at will so we can't we we can't look at this seller here and say they went from 20 down to 10 we can't relay that to sales because we don't know what they did maybe they sold products through multi Channel fulfillment maybe they removed items Etc so we don't personally rely on that data uh we can look at Prime sellers data and so we can filter by the prime section and we can click include historical offers so we don't just see sellers that are on the listing right
(20:57) now and we can get much more data from Prime sellers but again there are some caveats that come with that because as I mentioned at the top of the conversation is keepa is not perfect and the data that they produce is not perfect for one and for two uh sellers can put a purchase limit on their inventory which can make it appear that they are not none of their none of their units are selling none of them are moving even though that they may be okay so again this is kind of another piece to the puzzle when we're trying to gain all
(21:32) this data combined to take a step back with a listing and look at the overall big picture of a listing to see exactly what's going on and make as good of an educated guess as we can so when we're looking in the uh the offers tab we have a couple bits of information in here we have whether or not they're a prime seller what they're most recent price has been their condition their that individual seller's price history their stock if it's known their total sold if it's known so that's just um keepa tracking how many they've
(22:06) stocked how many they've sold and combining that total they're estimated sold last 30 days and again keep in mind that is estimated that is never guaranteed and then they have the prime badge the FBA seller name Etc and a bunch of other details over here that I never personally pay attention to okay so again when we're looking at listings this is probably one of the tabs I look at the most to try to determine on how much a product is selling if I can't see that data elsewhere this is a very handy tab to use and we will be going more into
(22:45) detail with that a little bit later on uh so things that can be missed so I'm looking for lgj okay so this is the first kind of example I wanted to look at spefic specifically when it comes to the offers tab so this is a product and again like I mentioned I'm probably going to be going back and forth with some information uh one thing we're going to be discussing today is a monthly sold stat so the monthly sold stat is this stat that's up here and this is data that's actually provided directly from Amazon as far as we know out of the many
(23:20) many tens of thousands of hundreds of thousands of products I've looked at since the stat have been introduced I do personally believe that this stat is entirely ACC accurate um it does come in different intervals so it won't tell you specifically exactly how many units that product has sold over the past month but it'll tell you a general idea so it'll go it'll say 50 plus 100 plus 200 plus Etc so if we see something like this where it says 400 plus bought in the past month that means that it has sold at least 400 and it has sold up to 499
(23:54) units right and so just in the last couple months Kea has actually started charting this data and providing this data for us in the secondary keepa graph here if you don't see this yourself you want to ensure you turn this on uh you may just have to turn on like the monthly sold section there is something that sometimes closes this secondary keeper graph um I'm not sure I don't remember what it is because I've had it turned on for so long but there may be like a little button you have to push to turn this on but you want to ensure that
(24:26) this monthly sold stat is actually turned on and so we we can see that they don't have a lot of data because keepa has just been recently charting this whereas Amazon's been providing this data to us for probably the last I think just over a year uh aan says sub ranks section so yeah I don't even remember it's been so long since I turned this on oh sub ranks right down here yes cool so you want to ensure that you turn that guy on thanks for that amen so when it comes to the information that may be missing when we're looking at the offers tab we
(25:01) can see that for this product here we know that this product sells at least 400 products in the past month and it looks like so previously uh a couple months ago looks like they maybe sold 50 on average uh demand has been increasing so they went from 50 to 200 on average to 300 to 400 so it looks like the demand on this product has been increasing and we're seeing corresponding sales ranks uh decreasing as well so that makes sense here like we're we seeing solid sales ranks here where like it is consistently going up
(25:31) and down and but then when we come over here we're seeing kind of just like a flat line but it's consistently low so that means that it's just selling very very consistently and it's competing with like the top thousand to 1500 products and we don't even see the little bumps anymore because it's just that consistent which makes sense because it's selling for 100 units per month or 100 plus per month Etc so if we look in the data tab for this guy and we look in the offer section we would probably think that we're going to see people that have sold
(26:01) 400 plus units so I'm going to filter by Prime I'm going to include historical offers all we see for Prime sellers is that it's all it says is 25 units sold in the past month so again this is why it's very important to understand all the kind of aspects that make up a listing and the the keepa data and try to take a step back and look at the big picture because if we were just looking at this and we were unaware of this data right here we may reiterate that okay cool this maybe only sells 25 procs there's a ton of sellers on here I don't want to
(26:36) sell it it's not worth my time but in reality if you can Source it for a good price it probably is worth your time so it will probably be a case of a couple different things that's happening is it may not be picking up seller stock exactly accurately like so maybe this seller stocked more than three units maybe they stocked 20 but keep only put picked up in a certain time period That's why we've seen it just fall off cliff randomly instead of uh doing like a staircase that is that can be quite indicative of keep just not charting
(27:06) enough data in that time frame assuming that we're not seeing any IP issues it could be indicative of keepa not charting enough data in that time frame to look more like a staircase which is like steady sales and if a product is selling enough sometimes we just see the product just fall off a cliff randomly and there's no explanation other than it's just selling that much right so it could be a mix of that and then also sellers having uh purchase limits on their inventory so that you cannot determine how many units they're
(27:35) actually selling and to just go on like a little bit of a tangent here is if you do come across sellers that are using purchase uh purchasing limits sellers do that for a couple different reasons so one one of the main reasons is to help prevent um competitor sabotage so they're definitely as much as we don't like to we would hope that wouldn't be the case but there are certainly Bad actors in our in our industry any place where you can make money there's going to be people that try to around with the system for the lack of better words and
(28:07) so there definitely are people that will actively try to buy up their competitors's inventory to just hold it up or buy a bunch of inventory and then claim like they never received it or damage it and send it back thankfully those types of things are rare on Amazon but it can happen so that's why when people put on purchasing limits they're doing that to help protect their they're help doing that to cover their own ass because like say if you have a purchase limit of five products in your inventory that means that seller can only buy five
(28:36) products until those products are actually delivered to them then they can buy another five they can't do back to back to back to back purchases obviously if they have multiple accounts and whatnot they can get around that but that's just one aspect and then the other aspect is uh sellers do that to help prevent people uh from seeing how many units they're actually selling and obviously like that's a relatively smart thing to do and it can be very effective uh but it can only be effective uh against those sellers that
(29:06) don't know what else to look for so against some more inexperienced sellers if you do know what you're looking for then you can basically by bypass that uh that obstacle that that they put in your way so any questions about any of that so far okay we'll keep keep it on all righty Jordan I have a question yeah go ahead yeah so when you're looking at a listing um you mentioned that your initial filter filter would be the uh the uh the sales rank of the item and so right after that if you looked at the sales rank of the item um and you
(29:57) determined that the product product warranted further investigation depending on the the type of item and exactly what the the the the sales rank is would the next uh metric that you look at be that one from Amazon that says you know 400 plus bought this month to determine whether to probe further uh because I know not not on Amazon not every listing has um that uh that metric on it uh but more and more listings are showing that but uh not everyone does have that so yeah kind of near the end of um the the whole intro with keepa I'm
(30:35) going to actually go through kind of how I would personally vet a product as efficiently as possible and like what my routine would be so from opening listing to what I look at to determine if I want to dig deeper and deeper and deeper because the idea is that we're trying to disqualify these products as quickly as possible so I may not answer your question specifically yet because we are going to be going into more detail on that later on uh but in terms of that stat on Amazon uh from what we know is that applies to
(31:04) every product that has sold at least 50 units per month so that is the minimum threshold I have yet to come across products that do sell more than 50 per month and do not yet have that stat that definitely could be something that exists so that's something to keep mind but I haven't personally seen that yet from my personal experience so it's hard to reiterate with those products if you're not personally selling them uh but from the products that I have sold everyone that sells 50 plus per month has that stat on
(31:38) it so yeah and Aman just said in the chat has to be bought at least 50 to show up under the ratings so any lower than 501 show up exactly cool so then the next thing I want to look at was outof country Sellers and I believe that this is something that a lot of people specifically in Canada may gloss over and may not understand what's happening with other country Sellers and so we have a real life example here and again this is additional things that you should know about because these are additional things that will skew the
(32:13) data that you're looking at and if you understand what's happening then you can make more educated decisions so in this example here we have a product that has a suppressed sales rank so that's okay we know from earlier just because it doesn't have a sales rank doesn't mean that we don't want to look into it it may uh cause a bit of a red flag for me because this is a toy category item not a grocery Health and Beauty item where it's more po where it's more common but we're not saying that it can happen in toys it's just
(32:42) less common to happen in toys right so say I'm looking at this product okay cool I look at this it's 2065 say I have seller ramp open it says my Max cost is whatever 12 bucks I see I can buy this for $5 cool everything looks cool so I want to start determining how much this actually sells and I come and look into the offers tab if it loads for me and I filter by Prime because we want to get rid of those pesky fbm Sellers and we include historical and I'm like okay well this product it's it's indicating that they've sold 31 in the
(33:13) past month between all sellers so that looks interesting to me because so far I haven't seen anything that supports that data I don't see sales rank drops which is indicative of a suppressed sales rank but I don't see anything else that supports this data yet so I see this seller here has sold an estimated 16 in the past month so just because I have a couple red flags that have come up where I can't support this data with the other data that I'm looking at I always wanted to take a quick peek into whether or not
(33:46) the seller is a Canadian uh FBA seller or out of country and I do that you can either do that by looking at the buy box if that seller is in the buy box or we can click into the seller list and then we can find that seller so I'm just looking for uh FBA sellers so we see an Amazon Seller here this looks like a regular Canadian Amazon Seller Horizon Treasures Corporation the one that we saw that sold units was the Stateside gifts C we see that they look a little bit different it still says ships from Amazon but we see here it has shipping
(34:20) and import fees deposit May apply a checkout so this is a prime seller that has their inventory stored in the American warehouse houses and they have the setting turned on where they can offer Prime shipping to other countries specifically probably Canada and Mexico okay and so you may be asking well so why does that matter it matters because they are sharing stock across all those marketplaces so they have the same stock in the US right now as they do in Canada so let's open up this listing in the US so I'm going to tab to the US here and
(34:55) we're going to take a look so we see State Side gifts 1190 and then if we um yeah 29 units rather sorry they adjusted their price for Canada so that's the exact same stock and we obviously see a much different selling price too right and so like this listing it looks like it may actually sell some more units says 50 plus bought in the past month whereas our listing does not say that so we can't infer that that seller is actually making sales in the Canadian Marketplace even though they might be making some sales here and
(35:38) there I wouldn't use that data to vet my products because it's unreliable right so from everything that I can see is they are listed in the US and they're probably selling in the US they may have sold one or two units in Canada but from everything that I see I can't personally determine that I'm not going to to use their data in my determinations whether or not I want to proceed with that product I would want to get data from another point to help prove sales any questions about that at all so Aman said I would assume the bot
(36:19) in the past month is probably not a viable data pain point for seasonal products sometimes um but that's why I like to default my sales rank chart to a year so we can get a better feel what's been happening and we can see what it was looking like last season and if we see things uh have changed when they have changed whether it's price decreasing sales volume Etc uh JD says not sure if it was me mentioned but certain subcategories like drugs will not show monthly sales even if it's over 50 that's very good to
(36:52) know and I believe uh don't quote me on this but I believe products in the adult toy category may do something similar and all those products also do not have sales ranks no matter what you look at it's not just suppressed they don't exist okay so the next thing that we're going to look at is byx statistics and what exactly we can learn from the data that we see from the bybox statistics so that that is this uh the next section in the data tab here we take we take a look at by block statistics so again I want you
(37:33) to just keep in mind because I know a lot of sellers when they look at listings they automatically don't want to try to be part of that listing if it looks like other sellers are dominate The Bu box it doesn't look like they can't get it at all just keep in mind that the data from keepa is not perfect again it's not tracking every product every single day and I'm going to show you how you can actually look at real data and compare it against what you see uh in The Next Step here but just because you see that say one seller in
(38:02) this case this seller here has 64% of the buy box doesn't mean you should necessarily shy away from this product okay we can probably infer that yes whenever kipo looks at this listing which could be once every 15 minutes it could be once every day this seller has had to buy box 64% of the time okay we don't know what time periods that seller has a buy box so maybe that seller has the buy box in the worst selling periods of the day which would probably be from say about 8 to 9 p.m. EST to about say 6:00 a.m. uh
(38:38) EST in the morning okay it doesn't factor that in and so it we could be getting uh say like same buy Box share 5050 if you specifically always get it in the worst time slot I'm probably going to be selling multiple X units over you right so that stat kind of becom comes irrelevant so when I'm personally looking at listing when it comes to buy box statistics yes it may be scary when you see a seller that's absolutely dominating the buy box and maybe we want to proceed with a little bit more caution maybe we don't want to go so
(39:11) deep so quick but the thing that I'm looking at when I'm looking at listing is that if there is any other buybox distribution whatsoever okay so like in this example the seller has 64% we see a multitude of other sellers that have had buybox percentage according to keepa um a much lower percent but it does indicate that they've been getting the buy box so I may want to dig into this a little bit deeper and just ask well maybe why so let's say if we're going to look I'm just going to keep a couple sellers in mind I'm going to look
(39:42) at smart chromosone and Sky direct so let's take a look at these guys so smart chromosone looks like maybe they have had units consistently in stock but maybe they were not price competitive the entire time or maybe they didn't have enough units in stock to get the buy box period because maybe their customers maybe their stock has been in BC and the customers that are buying this are all in Ontario so that could be a factor of why they're not getting the buy box um maybe the seller here Maria Roma they were getting the buy box over
(40:14) the last 30 days st% of the time but when we look at the seller they only had stock for once they actually started selling for like a couple days they had stock over here but they only had it for a couple days once they actually sold so again maybe they didn't have enough units to be evenly distributed throughout the country to get the buy box um so they've only had it for a very small portion of of the time same like with this seller here it looked like this seller here right when they stocked they almost stocked out immediately so
(40:45) of course they're not going to have a a high buy box percentage because they sold them very quickly so I from what some other seller might see is that this sellers dominated the buy box I don't want to look at this what I would see is nobody else has been able to maintain a sufficient amount of volume to consistently win the buy box so this may be a very viable product that if I can stock it consistently maybe I can get a very good consistent buy box percentage and make a very good consistent amount of money but I would
(41:16) just proceed with a little bit more caution because we see one seller that's so dominant according to keepa and just not go so deeply so quickly it would just take a little bit more process so like with my process typically when we're looking at inventory I would typically want to buy about what I feel I could sell in one month off the Hop send it in and get real data right so like in this case we've seen it's only recently picked up steam so it had previously sold 50 it's been increasing increasing so like maybe I want to relay
(41:48) the information that I'm going to estimate that maybe this is going to sell 50 because maybe there's like a Tik Tok Trend or something that's just making this very popular right now and maybe that's going to die down so maybe I'm estimating that this is going to sell 50 maybe I'm going to be seller number five so that means that I want to send in 10 units just to play it safe so assuming my Capital supports it that's a low amount of units maybe I send it in anyway maybe if I determine that I can sell 200 units of this
(42:14) product but um I have a red flag because I other Stellar maybe instead of sending 200 maybe I'll only send in like a 24 pack or 36 pack just to see how it does just as a bit of a risk mitigation right it doesn't hurt to do that get some more data and then go deeper later on a lot of people are very stressed about being first all the time and buying a massive amount of units getting them in trying to get your money back out that can work to a point uh especially like with OA but it's not necessary you don't have
(42:49) to do that in order to scale very quickly uh and very big with OA to a point that does have to happen but early on you don't have to focus on that any questions so far were you gonna ask something there Ron you came off a mute oh I'm sorry W no problem okay cool so I was going to say um and again I don't think a lot of people know this is you can get actual real data from Amazon and you can compare this and you can see how different the data actually is compared to what keep is telling you so if you go into s Central I would encourage you to
(43:33) do this with a good handful of your listings uh you go into sou Central you open up the reports uh category you look at business reports and then the by as section or the the head category and then the detail page sales and traffic and I have a picture example as well it'll give you something that looks like this and you can see this for all of your ases so obviously I blanked out some data but it will give you a a wide variety of data for the Asin your title your skew how many people have actually viewed that product uh all that kind of
(44:08) stuff and then it'll also tell you what your buy box percentage is or your featured offer percentag is for that product over the time period that you choose so like this is just one product I pulled out that was for a one Monon period and for this particular product we have had the buy box on that product for uh just over 21% and that's actual real data from Amazon if I compare this with the the data that I see on keepa according to keepa we get the buy box less than 10% of the time so again that's why I say the data
(44:41) from keepa can be very uh misleading because it's it's only accurate according to when keepa has looked at that product it's not actual real data from Amazon because Amazon doesn't provide that data to keepa okay uh Aman says do you use product ratings at all to gauge estimated product s sales as well no and we're going to go into that as well because product radians again are very misleading um especially when we're sourcing in Canada because product radians if you look at a product and it says like say it has 800 radians that's
(45:18) 800 radians against all asens that's like that's connected to that product under the same as which can be across multiple marketplaces and chances are most those radians are coming from the US so just because it sells in the US we cannot infer that it's going to sell that much in Canada it probably has an indication that it has demand but maybe like this product that we see here for the play mobile maybe the market is not demanding this product at $21 Canadian but it is demanding it at the $12 American like we
(45:51) see so aan typically I don't go that deep into ratings like you can um you may be able to uh but I am typically trying to get through listings a lot quicker and I'm trying to disqualify them a lot quicker so I suppose if you wanted to really dig extra deep into a product you could do that uh but for most products myself that would not be something that we're doing because we can probably relay information elsewhere a lot quicker whether or not that product is selling uh Chris says hey are you able to pull out report for multiple as at the same
(46:31) time would be nice to filter by my lowest buy box percentage Yeah by default when you uh pull up that report it'll show you all your asens and you can filter your data accordingly so like the screen that pops up it'll have it has a filter it shows you a list of all your asens and you can sort by highest or lowest Etc and I'm just going to put this in the chat here in case anybody wants to know for future reference so just put that in there so I would actively encourage everybody to go into solar central compare some of your products against
(47:06) Kaa and you'll probably be very surprised of how different the data is that you see and that helps you understand a bit more that the data that we see from keepa is a good educated guess it's not real data it helps us make as good decisions as we can without real data first but it's not real tangible data so the next thing that I want to look at is the variations Tab and the reason why I wanted to mention this is because I have seen some sellers mention uh that you should be actively looking at the variations tab for sourcing
(47:47) products in Canada I'm going to tell you why I do not believe that to be the case because again the data that we're seeing is shared between marketplaces so the data that you're seeing is going to be skewed so what I have seen some people recommend is if you're looking at a product that has multiple variations without doing anything else what you should do is you should come into the variation Tab and then you should look at the one that has the most ratings the one that has the trophy that's the one that you buy that's the one that
(48:17) obviously sells and you don't need to look any deeper than that uh that is very misleading because I can tell you right now that this set here does not have 810 ratings in Canada it has 810 ratings in the US and or multiple other marketplaces together so if you're just blind buying just looking off of that you're probably going to be buying products and you're going to be unpleasantly surprised about how much they do not sell right that's why I like to vet my data elsewhere in my opinion this data can work good for the
(48:54) us but I would typically recommend that you basically ignore it in Canada in my opinion it doesn't help relay any information for us in Canada whatsoever because again it's connected to the US market and other marketplaces that operate uh that have the same Asin so we can't specifically relay information off of this review data is good if we can infer that that those reviews are specifically coming from Canada right and we can see the time period that they're coming from Canada but I like to personally look at
(49:25) the reviews I like like to go into here see more reviews filter by the current actual one that I'm looking at sort by most recent and see the reviews that I actually see and see on that variation tab it said that it had 23 reviews if we look at the Canadian listing we have one two three four five reviews in Canada so again very misleading data so I would not recommend that you use that to make your purchasing decisions at all any questions about that at all or about uh the other country sellers or the buy box percentages
(50:08) things of that nature or anything that we've discussed thus far Jordan um given what you had said about the the variations tab specifically that the is excuse me unreliable in Canada would you then in principle stay away from any products uh in sourcing that are on a variation listing so that's a very good question because I do know that there are a lot of sellers that specifically avoid variations because they're unsure the data and so if you're completely uncomfortable with it yeah stay away from them but I believe you are missing
(50:51) a lot of good opportunity if you just completely ignore variations because if you look at a variation and like say that variation is in the top 1% of category and say it has four different products four different uh children under that parent as chances are one of those products probably sells quite well most of them probably don't but one of them probably does so if you're able to actually understand all the data that goes into it and see the one that actually makes sense and that makes sense for you and you can do all
(51:22) these things together to prove your sales then I would highly encourage that you look at variation listings um variation listings would be something again that um are relatively underrated and I think that a lot of new sellers stay away from so that also helps them be more sustainable more long term because it has those additional barriers of Entry or that additional fear from other sellers that they don't want to become a part of it just like products that um Amazon dominates the listing a lot of new sellers will never try to
(51:53) attempt to compete against Amazon I do all the time time and we make a lot of money on those listings it's just about understanding the data and being able to uh educate make educated decisions on how many you infer that you should be able to sell and then sending in a reasonable amount and then getting actual data from that uh col chillan says how would you approach variations in Canada for things like shoes so we want to try to prove sales somewhere somehow right so typically speaking when I'm looking at a listing if it has
(52:34) variations the first thing that I want to do is I look at listing I see it's a variation I know automatically the the data that we see in keepa for sales rank is not reliable whatsoever so we're disregarding everything that it says about sales rank the first thing that I want to do is I want to look into the data tab offers Prime include historical offers and see what that can give me so we'll let this guy load and if I see consistent FBA sellers selling consistent stock I may want to just confirm that they're not us sellers
(53:07) quickly but like say if we see people selling consistent stock say multiple people are selling 10 20 30 units per month I can probably make my decision off of that and I most likely would if everything else adds up if we cannot get information off of this then we would want to then look at the review section so come down here I would look at the SE more reviews category I would click the all formats and choose the the setting that pops up because that will then only filter reviews for that specific variation that you're looking
(53:40) at Click by most recent and then make an educated decision based on the review that the review data that you see so again this is just making an educated guess but in general for most listings you'll probably see a review uh rating of about uh say from about like half% to up to like upwards of like 2% so typically I infer about a 1% review rating so on average you would typically see one review and relay that to about a 100 sales okay so you again have to look at the big picture so if you just see only one review on a product that could
(54:23) be a fluke and you can't just automatically say that's 100 sales but if you see a single review every single month for multiple months that's probably a good indication that's probably selling close to 100 units per month if you're seeing one review consistently every two months that's probably a good indication it's selling about 50 units per month right uh for this for this particular product here we haven't seen reviews on this product since 2022 for this variation so because of that I can't see any information that
(54:54) is actually proving sales to me so from my philosophy and not everybody operates this way is if I cannot prove sales by looking at these couple things in a relatively short period of time I'm carrying on to the next listing because I don't want to waste my time looking at potential a product that may be profitable when there's hundreds of thousands of products that are profitable that I can prove sales immediately I'm trying to disqualify these prodcts as quickly as possible to find the good stuff there are people
(55:25) that spend more time analyzing listings try to bring listings back um they look at listing they say okay well maybe we're going to look at the data from back in 2022 and we're going to see maybe if this actually sold back in 2022 for the price that's at now maybe we can infer that's going to sell that price today right and you can do that but back in 2022 this was selling for 68 bucks from Amazon but some people try to dig deeper into that and make um a lot of speculation I'm not in business to make uh speculative risks this business
(55:59) obviously has risks but I'm trying to make as many educated decisions as I can to help almost guarantee my profit it's obviously never guaranteed but it's more guaranteed than buy just buying blindly or making speculations I'm not a stock broker I'm a business owner I'm trying to make more educated decisions if that makes sense Aman's typing here so I'm just waiting until he types whatever whatever he was doing here so C chilling does that make sense yeah so obviously if you're looking at listings with shoes that have
(56:44) a ton of variations on them you may have a bit of more difficulty doing that CU if you're looking at um if you're trying to look at every variation and look at reviews for variation it's probably take you a while right so what I would probably do is in that case for like say you come across a listing that say has 100 variations on it you come down to the main review section sort by most recent and just start taking note of the ones that have consistent reviews on them and then start digging deeper into those ones and seeing how many reviews
(57:15) those ones specifically have or see if you can see stock counts via FBA sellers for those specific variations that will help you filter down the data a lot quicker instead of just trying to go through and look at the reviews for every single individual uh variation one at a time that would take way too long okay so now we come to the monthly sold stat which we've already discussed a little bit earlier so just to again reiterate it is specified intervals so it does start at 50 plus uh it will not show up on any linges that have less
(57:51) than 50 units sold uh as I mentioned keepo only recently started charting data I announced it in the server when they did I believe it was probably two or three months ago they actually started charting it which is very nice because it does help us uh make much more educated buying decisions which we've never specifically had with Amazon in the past that deeply uh the data is provided directly from Amazon so as far as we know we know it to be true so again I've looked at a lot of products everything that I've
(58:22) personally analyzed it adds up I have not seen any products where that stat pops up where it is not selling that amount and that's for my own personal database that's not me trying to speculate on products that I don't personally sell and for the monthly sold stat it is a variation specific so when we look at products earlier where we're saying that the data that we get from keepa is kind of irrelevant when it comes to variations this stat that we see here it is specific to that own variation it's not a parent specific stat so if you see
(58:59) this stat on one variation you will not see the same stat on the other variation unless they actually sell the same amount this amount is for this individual product on this individual variation so it's a very good stat to see okay so we're going to discuss a few additional things that maybe you do or do not currently use uh I'm going to go through kind of my process for looking through keepa and trying to go through a listing as quickly as possible to help disqualify as quickly as possible and then we'll get into a bit of a
(59:37) Q&A so the main thing is or the one thing is the track product feature I believe this is massively underutilized by sellers uh if you do utilize it good for you I don't think most people do and what the track product feature is that you can find is right in here and what this is is you can have keep us send new notifications when products re reach certain criteria so whether that's a specified selling price of a say a price set at a an amount or higher or an amount or lower you can do that for sales rank you can do that for to get
(1:00:13) indication when a FBA sellers come back on a listing the seller count all kinds of stuff so this is always something that I recommend that you keep in your repertoire of sourcing tools because if we're looking at a product we're already here we're already doing the work if we have inclination that this product may make sense in the future we might as well start setting up our lead pipeline now instead of just trying to randomly come across this product again in the future because with Amazon uh as with almost anything history does tend to
(1:00:47) repeat itself and if we can identify these patterns we can take advantage of them and start building a lead pipeline while we're doing our regular sourcing so just to give an example this is not going to be a great example but say with this product here we look at this product and right now it's selling for $49 okay and say based on this current selling price it does not make sense for me to purchase this product because my buy cost is I don't know 30 bucks but say back here just again for an example we normally see that this
(1:01:22) product does actively sell it used to sell for like say say $60 and it sold consistently at that price and say at $60 this product would actually be profitable for me cool I can see that data right here I'm already looking at the product so I may want to take a few seconds to set up a notification for this product to get notified when the price hits $60 plus and then people will simply send me a notification on the app in my email via web hook whatever you want and you can start building these lead pipelines and
(1:01:53) start getting notifications months years years down the road when these products make sense again so I believe I have a video where I kind of discuss this but it's relatively straightforward to set these up you just want to input whatever stat you're wanting to track so if you want to be notified when the buy box hits 60 bucks you would put $60 or more that means you're going to get notified if it hits $60 or higher if you have it or less that means that you're going to get notified when it hits $60 or less so you're you're you're
(1:02:27) going to start getting notifications immediately right if you're only specifically concerned about FBA Sellers and not the buy box you can use that stat if you want to see Amazon you can use that stat uh if you open up this guy when you open up this guy it's not going to show you everything you have to expand it to the pro section like there's like a basic Advanced Pro each each section gives you more and more detail so you go to Pro uh and now you can uh uh search for things like sales drink this is a great thing to set for seasonal specific
(1:03:02) products right so say you're sourcing in the winter time and you come across like beach chairs and you see that these beach chairs always sell in the summertime but they're not selling right now and right now the sales rank is I don't know 200,000 in Sports and Outdoors not good when they do start actively selling sales rank comes down to like say 30k and then it keeps getting better and better over the summer months so maybe I want to get notified when the sales rank hits say 30k or maybe slightly higher and then
(1:03:30) I'll get that notification I can take a peek at it and then see if I can source that guy at that time so you don't even have to track it in a spreadsheet necessarily and try to come back to it remember to come back to it you just wait for keep to send you the notification and if you do this with products and you do it consistently with products uh that have good potential opportunity you can then all of a sudden start getting potentially viable products multiple times like per day or a couple times per week and it can
(1:03:58) actually add in quite a lot to your leite pipeline because chances are if you're sourcing heavily and like say you're doing this as a full-time job or you have a VA doing this for you full-time and you teach them how to do this you're going to be looking through thousands of products a month if not tens or or more right so you're going to come across a lot of potential opportunity that does not make sense right now but it will in the very near future any questions about that at all okay so just a few additional things
(1:04:37) with this guy uh when you come into your settings you do have a couple settings specifically for the tracker so you can specify how long it's going to track the product for you before it automatically deletes itself so I think the fault is a year but you can do up to 10 okay and you can manually delete these as well you come into keepa you can come into track I'm not going to show you mine because we have prodcts in there it gives you an entire list of the prodcts that you're tracking and you can delete them as you please right um where were
(1:05:11) we here um the alert re uh rearm timer means that this is going to be the amount of time it waits in between before it alerts you again so like say if it the text that your product hit hit the $60 plus that you wanted it'll alert you once and then if it detects that it's still at $60 a day later it'll alert you again so you can set that to whatever kind of criteria that you want and then there's a setting in here somewhere it might be in the actual keepa website uh in your settings here uh I'm not going to show you mine because I
(1:05:49) think mine's in a web hook but you can go into the settings and you can actually set how you're notified whether it's by email web hook and by web hook that means like you have it sent to like a Discord server or slack things like that or just directly in the Keep app itself uh Aman said well I thought tracking mode Advanced Pro was some sort of upgrade feature but I clicked on it and just more filters for track and get to know yeah 100% it's all included with your subscription and this is exactly why we discuss these things because just
(1:06:19) like we saw you may not have been aware of it and now that you are if you do utilize this in your business it can actually be a pretty powerful tool um and as far as I know I've tested this quite extensively I don't think there's actually any limits for the amount of products you can track with keepa I have a couple accounts that have a couple hundred products in them uh and we still have not been limited so I don't think there is a limit there might be a cap somewhere but I haven't personally found it um but just to add on to this so
(1:06:51) another thing again to build your lead pipeline is if you come across a product and say it looks viable but you cannot find anywhere that has stock and say Walmart looks like they may stock it they're out right now Toys R Us May stock it they're out right now utilize the features that we have in the server specifically the private restock monitors um because you can set up a private restock that you talk directly to our bot with it's just you and the bot I don't see it it's through our developer and our developer is based in
(1:07:23) Germany he's not stealing your products um and it will notify you if those products come back in stock and it notifies you within seconds it doesn't cover every single store but it covers a lot and a lot of the big Heavy Hitters like Walmart Toys R Us Best Buy more coming tons of Shopify stores it includes a couple hundred like well probably realistically thousands of Stores um it's just it doesn't include everything so I would encourage you to actively utilize those features they're included with your subscription for the
(1:07:52) server you may well you may as well use them and then again all you have to do is just make a I would make a note to that product I'd probably put it in a spreadsheet somewhere export it to your Google sheet the full product data and just say currently out of stock monitoring for restocks then you know when you get that restock notification you just take a peek at your spreadsheet there it is there's my link cool I'm buy it I'm good to go Mel says I think you can track thousands a lot of book sellers utilize the tracker like crazy yeah exactly I
(1:08:24) have not never found the cap so as far as I know there's no no cap on it but yeah if you run a team so like I do we actually utilize the memo and tags as well and so with the memo like say if we have any data like say this is specifically for a crossborder product we will put in the As in that we're going to Source this from because it's not always going to be the same as from like Amazon Canada to amazon.
(1:08:52) ca so I'll just put like the as in here so we know where we want to reference it and then all of our team members in the tags put their individual name just so we know uh whose products are whose so you can utilize that as well and you can utilize it any way that you want uh you put tags in there you can then go in your settings in your track data uh section and you can just search for specific tags and you can just find them like that so if you have like a tag for like seasonal or a tag for winter or a tag for Walmart whatever you want you can
(1:09:24) set it up that way but yeah we're already here we're already looking at the products so again we want to have like a healthy mix of being efficient when we're looking at products but if there is potential opportunity then we may want to slow down if there is actually good opportunity take a look at the big picture and see if we can set up some potential lead pipelines for us in the future I don't know what I did there cool uh the last main thing I want to discuss before going into some examples is the keepa deals so uh it was interesting
(1:10:04) because Abdul mentioned that he utilizes this at before we even started the conversation and again I think this is something that I don't think a lot of people actually know about or utilize and the keepa deal section again is included with your keepa subscription and all you have to do is log into the keep website come to the deal section and you see active deals on on Amazon and you can filter them however you want so like just brand new products just toys Etc and so this is more so specifically for doing a2a flipin
(1:10:36) obviously you can use it for good personals or buying stuff and selling it locally or on eBay but it's more heavily utilized for well it's probably mostly used for like personal stuff but you can utilize it quite heavily for A8 TOA flips and this is like probably one of the easiest ways you can get introduced to doing your own personal a2a sourcing um of course you can utilize our deal Bots that we have in the server because it is going to be pulling through a lot of this data as well just with additional filters applied to it um but
(1:11:06) you can also come directly in here so you can see I'm looking at warehouse deals I like buying Warehouse stuff and selling it locally or on eBay but we look at uh say Amazon and we can see how big the price drops are and then we can hover over stuff if it's working I know one of these things you can hover over and see a keep a chart you should be able there we go so you can see you can easily see a keep a chart right if it works properly and then you can probably make a good inclination of whether or not that will
(1:11:35) be worth looking deeper into so if it looks like it normally steadily sells for more and it had a temporary dip then that might be worth looking into uh I would probably do it by category so I look at things like grocery toys and games um Sports and Outdoors maybe but yeah look at stuff like that I like I love doing uh grocery a2a flips specifically cutting down multi packs into singles or lower bundles or multi packs and also combining them together so this is another great tool you can utilize and if you spend time in
(1:12:09) here and get uh proficient with it you can definitely add on thousands of extra dollars in your profit every single month if you actively utilize this tool and it's kind of like um those people that like actively sit there and like look for uh like auction sites and stuff because this this section constantly refreshes all day so when new deals are posted uh New Deals will be posting here all day every day so you can come here you know refresh every 20 minutes and you'll probably see some new stuff right and so it can if
(1:12:48) you're doing that and like you're you're doing it quite consistently it can get pretty exciting if you actually find something that's really good any questions about that at all okay so now I'm kind of just going to do like a loose kind of uh brief demo of when I'm looking at a product and just kind of walking through what my mindset is and how I try to train our team to vet products and again to try to do it as routinely so the same every single time and to try to do it as efficiently as possible uh when I say routine uh I
(1:13:38) mean like when you are vetting products your process should be more or less the same in the same steps uh probably every time and if you get used to that it'll make it a lot more like robotic for you and second nature for you to start vetting products and do it a lot more effectively versus if you're randomly looking at random information all the time you're looking over here you're looking over there you're trying to look over here over there that becomes a lot more it makes you more scatterbrained and it's not consistent and you're not
(1:14:08) going to be as efficient looking at products okay so when I first look at a product there's a couple things I'm looking at immediately so if I I already know the buy cost if I'm I like a Sam reverse searching your website I'm automatically putting a mental note in my head what my cost is if it's the reverse and I don't already have a buy cost in mind I'm automatically looking at what my maximum cost would be uh right here so I know what I'm going to be in the ballpark of that I need to buy this product for if I look at this
(1:14:40) number and it looks completely unrealistic and like say like it's like um I don't know a shampoo and it says my buy cost has to be a dollar and I know I'm not going to be buying that shampoo for a dollar that ends my research for that product right there I will make sure that the the buy block price makes sense and it's not currently deflated or inflated but it would end my search right there because I know I'm not going to be able to Source this product for a dollar the next thing I automatically look at is is this product variation
(1:15:09) because that's going to relate information to me whether or not I can trust this graph here or if I need to dig deeper into it okay so the way that I look at products is if it's not a variation I am trusting a lot of the that I see here over like the last month or two to determine whether or not I even want to dig deeper into the product if it is a variation I never rely on that data and so if I come across a product and say I have a a loose requirement in my head that I don't want to look at products unless they sell 10
(1:15:43) plus units per month right I would say don't make it a hard requirement but say a loose requirement so say I have that requirement I will still consider other things but I want 10 plus units per month and I come across this and I see this chart over the past month I know immediately I can disqualify this product because based on those few only couple drops that I've seen I can relay that this probably does not sell 10 units per month it may but it's not going to be worth my time to look deeper into so I'm looking at that I'm looking
(1:16:18) to see if it makes sense and then say if I don't have this product already up at a retailer I'm looking at what a reason buy box is so I'm determining whether or not it's worth me looking deeper into and say it does meet my sales requirement we selling multiple units per month say selling at least 10 per month uh this one I don't think it is recently but say it was so now cool I'm looking at what the average selling price would be because chances are we're probably going to be selling this product at the average not the current
(1:16:46) inflated price unless it's discontinued but I'm looking at the current average which will probably be closer about $30 not 42 I put that in there I take a mental note of my new Max cost and then I try to search for the product so I do a quick Google search I know right away I know my Max Cost needs to be around 16 bucks I see Lego has it for $1.
(1:17:12) 99 they're at of stock it's retired so then I'll probably reverse search my Lego Boutique little search right here see all my Lego searches and see if I can find it anywhere else this product is an exclusive so we probably won't see it anywhere else but another thing I'm here already say I looked at this product and it looks like it made sense to me it sold enough units that was interesting to me it's out of stock I don't see stock right now cool I'm going to add this into our restock monitor just in case this ever restocks says retired but event sometimes Lego does
(1:17:41) get occasional restocks here and there and then I'm going to uh continue on to the next product and again I'm trying to do this basically as caffeinated and as quickly as possible so most listings if I'm sourcing I'm doing heavy sourcing I'm probably not spending more than about a minute in a listing if I'm vetting it if I'm spending more if I'm going to be actually purchasing this item I'm going to spend a little bit more time looking into information that's fine but for the initial vetting to even determine
(1:18:08) whether or I want to buy it I'm probably going to be spending Max about a minute when you are just um just getting started or you don't do a ton of sourcing that's probably not going to be realistic for you and you do want to spend more time understanding the information taking more time to see what's going on and many listings may take you multiple minutes to look through but the end goal is to start building that routine and get to that efficiency because the more products you look through the more winners you're
(1:18:36) going to find and by default if you're looking through more products like if you're being more efficient and you're cutting down your average uh time of looking at a product from say five minutes to 1 minute you're going to be automatically by default going to be able to look at 5x products and that should relay to about almost 5x the amount of products that you can actually find that are winners so any questions about that or anything that we've discussed so far today um so when sing how um for instance they use a keeper use keeper
(1:19:22) and um pwn in on specific Niche or product that you want to Source how long do you do you Source like say you go to 2 300 um products before you stop or anything so like are you saying like utilizing say like the keepa product finder yeah sorry sorry about that yeah so for me for for me when I'm sourcing I just I like to use keep product finder to to pinpoint like where exactly um I want to Source like the thing that I'm I am looking for but then you will see like a broad a broad um number of items um like for me if it takes me hours to
(1:20:22) go to maybe say 100 if it's not when I when I notice it's not um a private label yep so like you're asking of how long I would look through like a particular like Niche or website Etc when I would give up so that's going to be all that's going to be all dependent on your own personal mental focus and how much like you're getting frustrated because if you are looking through hundred of thousand prodcts you're not finding anything chances are you're going to get frustrated we've all experienced it um so it's going to be determining
(1:20:56) on how much you can mentally go through it because yeah like there are definitely times where we'll literally look through hundreds or thousands of products and not find single ones that are viable that does happen uh the way that you can increase your personal hit rate is one getting more familiar with winners to begin with because that by default helps build like a muscle memory that you're able to Cherry PR products out a lot more so like say you have a list of products like keep a product finder and say you're very experienced with what
(1:21:30) products to look for because you've you've looked at these products you've sourced them before it makes it a lot easier for you to cherry pick out winners and have a much higher hit rate and you'll be able to like look through a list a lot more efficiently right and so I kind of like relate it like this so when uh I was selling books um when I used to go into a store and scan books when I first started it I would scan everything okay okay and then once I've spent you know hundreds or thousands of hours doing this I've picked up just
(1:22:02) kind of like a muscle memory of what books look like they actually are viable so now instead of scanning every single book on that shelf maybe I'll only scan a set section or I'll just like cherry pick ones out and now instead of scanning every book taking say like an hour to scan this entire shelf of books I'm cherry-picking like f like five 10 of them and my hit rate is like 60 70 80% much more time efficient I'm probably going to miss some things in between but becomes much more time efficient right um but then on top of that for
(1:22:36) whether like you want to determine whether you want to quit looking at this particular Niche or this particular product that's also going to depend on what your experience is with other sourcing methods so if you are only familiar with using keep a product finder it's going to be tough for you to transition to something else unless you just like miraculously find uh better filters to use with keep product finder versus like if you are proficient in storefront stocking kpf manual sourcing tactical Arbitrage uh say you're using you're utilizing
(1:23:09) seller watch all kinds of other things you can much more easily transition into different types of sourcing methods when one seems like it's not working that day and you'll probably transition to something else and maybe start finding more success with that method and that is something that just simply comes with experience and time as you build up the skills for all those different methods I hope that makes sense yeah yeah it does um basically if one method is not working just try to switch to the next but normally when I
(1:23:44) am um using keeper I always try to rubit trail to see how to help improve my sour 100% And you you definitely want to utilize that and I would argue that you want to utilize the rabbit trailer Rabbit Hole method from the get-go because there will probably be times when you're sourcing like say you allocate like I don't know six hours at data sourcing you'll probably spend a good amount of time not finding anything because one um I relate it like this so this is something that I say to my employees quite often is if somebody's
(1:24:20) having a problem with their sourcing quite often one of the first things look at is how many breaks are you taking per day okay and so there are some studies and some theories that exist that taking uh regular breaks every single hour is healthy for you and to be more productive that is probably true however specifically with OA sourcing or sourcing for Amazon I have been a big proponent that once you get into what I would call a flow state where like you're locked in and like it just seems like time's passing by or you're doing
(1:24:57) things on autopilot uh once you get into that flow state it becomes a lot easier and you want to consistently stay in that flow State as long as possible so that means not specifically taking a break and so with that flow State when I talk about that it's different for everybody but sometimes it'll take you when you start working 15 20 30 minutes an hour of actively working and not being distracted before you get into that okay so if you're taking a break every hour and it takes you an hour to get into that flow State you're never
(1:25:29) going to reach that you're never going to reach Peak efficiency so I actively encourage my employees to still take breaks throughout the day but try to spend a little bit more time in individual sessions to get into that state and then take advantage of it as long as you can so instead of taking a break every hour for 10 minutes take a break every 3 four hours for a half hour or an hour whatever uh whatever works best for you right um but also consider that um so like with my VA specifically I have a minimum threshold
(1:26:12) for them to meet of 1.25 qualified leads per hour produced okay so that means 1.25 leads that are accepted unique not listed by other employees so that means that's in an eight hour shift 10 new qualified leads that's my minimum I set for them it takes them multiple months some and some occasions to get to that production uh Point uh ideally I have them at that point within a three-month period some are a lot quicker some never get there and they don't stick around but so that kind of goes to show you on what you may
(1:26:51) reasonably expect obviously when you become much more proficient with many more methods it becomes a lot easier to Source way more products way more quickly and like if I compare like myself with my vas which I do not like doing but I could probably produce the same amount per hour that all of them could combined right but I have reasonable expectations for them I've been doing it 5x am time that they have I have uh I try to make it as as efficient for me as I possibly could and I try to be highly caffeinated
(1:27:28) if I'm trying to do it very efficiently okay um my biggest question I think I have um for o o oeller um how much inventory do you think they might go to in a specific year like inventory that you yourself buy or products that you look at no like actually buy so for for instance a person that's for a for a person that's selling n for a person that's selling see a million million plus a year so that is a very broad question because it's going to be very different for a lot of different people so like say if you're looking at just
(1:28:17) specifically OA nothing else a big portion of your catalog by default is probably going to be opportunity buys where you're buying them once and you're not buying them again or you're not buying them until they recover or they come back in the sales cycle Etc and i' would probably argue most of OA probably like I would say at minimum 60% probably upwards of 90% of most people's cataloges are going to be like that um you hear a lot of people talk about oh work on finding replans look at only replenishables and like that is just
(1:28:51) you can't specifically look for quote unquote replenishables it just happens you don't know if they're going to become replenishable until you buy it you send it in it stays stable and you can send it again so with OA like a good chunk of your catalog is going to be consistently dying or just consistently no longer viable and that's kind of the nature of the Beast with OA there's going to be exceptions like I have two Amazon accounts uh one of them is I won't say oh I won't say specifically OA Focus but it's Arbitrage focused but
(1:29:25) it's more so focused on hard to obtain items or items that have larger barriers of Entry that most people are not interested in pursuing that catalog I believe it has sub 100 asence and it does over $75,000 a month in Revenue but most of those asens are asens that we have stocked for a very long time and they have a very large of Entry so they become very stable most OA items are not that unless you're finding from very Niche Boutique places that you cannot buy that stuff anywhere else or you're finding stuff that's discontinued or soon to be
(1:30:05) discontinued Etc so again it's it's a broad question because it's going to be different for everybody what your average selling price is what your capital is but you can you can realistically do it with a handful of asens but chances are with OA you're probably going to be going through hundreds of asens in a year to hit millions of dollars of Revenue like multiple hundreds of different astion uh a yeah sorry thanks for that information my my perspective goes totally different definitely uh Aman ask do you track
(1:30:49) products that you disqualify like in a spreadsheet or something so like for OAS sourcing uh I don't specifically do any of our OA sourcing anymore like I would say that I I don't I'm not even like an OA buyer per se we have almost completely transitioned back into wholesale with again like the one account that is specifically hard to find Arbitrage uh but like say for example for our leads list uh we do Source a ton of products every single day for to support our leads list but that is specifically sourced from our
(1:31:22) vas um we have like the VA sourcing sheet like we use the exact same one that's in our resources they all have their own individual sheet and they're exporting products that they believe are viable okay and so a good chunk of those products end up being disqualified and so they do they are in that sheet we haven't specifically taken that information and done something with it but it's actually something I'm working on at the moment because um I have recommended to a lot of people in the past with your that you find you should
(1:31:57) build your own product database okay and we have a a template in the resources where you could use that where you can use that so whether that's your own personal winners whether that's leads off of leads list whether that's lead production your Vaas are producing Etc you should be pumping all these products into your database and then you can build a very powerful resource that you can actively Source from once that becomes a once that becomes large enough right now we do not currently do that with any disqual
(1:32:24) products but we've had the discussions that it would probably be viable to pump all our disqualified products into its own database just like that and then be able to Resource those products because a lot of them end up getting disqualified for being like out of stock or maybe they they tanked and priced temporarily so we could resource those in say one to three months time and they would make sense so I I don't think it's a bad thing to do uh with yourself so to say for example if you don't have a VA you could and I would probably recommend
(1:32:58) that you you separate out your sourcing time and your buying time it would probably make it a lot easier and it would make it so you're less distracted whereas like say you're sourcing and like say you find a product and you immediately want to buy it I think that you may get diverted from your task at hand and again get out of that kind of Flow State or like uh Wii mentioned deep work uh I would probably recommend that you have your sourcing and then your buying separated and you could utilize something like our VA sourcing sheet and
(1:33:28) pump your own products into there right and if you're unsure about something like say you're on the fence and you don't know if this is a viable product that's okay export it to your database or to your sourcing sheet and then when it comes time to go come back and buy it we're going to review it a little bit deeper at that time I think that would probably be a much more effective thing to do and then you can personally disqualify or qualify your own leads and start building your own database out that way uh Chris said what would you say is a
(1:34:02) fair and average buy box percentage to hold before you start rethinking if you should continue to hold on to restock at as say you're looking at a 3mon period and you have been in stock the whole time and your win percent is 10% is that a good amount or would you cut off percent be um so that's going to be dependent on product by product and what your potential profit is with that product uh I've always been a big proponent that instead of like specific dollar amount or Roi or uh sales volume per month I am a
(1:34:34) much bigger proponent of how much does this individual as actually profit me every month and I have my minimum requirement right so if this as doesn't actually profit me dollar-wise this amount per month then I will probably exclude it going forward IR relevant of what our buyx percentage is IR relevant about not not not super relevant but not I don't really consider r y as a huge Factor whether or not I'm going to uh continue stocking in as um but yeah like buy box percentage wouldn't matter to me as long as I'm
(1:35:11) profiting the amount that I would expect off that asent obviously you would want to do things to try to optimize yourself to be more buybox competitive and get more of those sales but if you have been and you're not getting the buy box then I would just consider if it's worth it profit wise for yourself per month uh Wi-Fi says it possible to find success longterm with OA going wide in as on a monthly basis as opposed to replenishing frequently yes 100% uh go talk to Fred ask him how how many products he replenishes on a regular
(1:35:49) basis he's almost exclusively finding brand new products and he does he does quite well but like so for example there's different layers to every business model and doing things certain ways are going to determine on how quickly you can get to certain points okay so if you are finding products that you're able to cons consistently replenish just think about like how much less time investment that's taking you right whereas you buy a product you send in you get your data and now I know that I'm going to be basically guaranteed as of right now
(1:36:28) sell 30 of these per month it takes me minutes to look at that product make sure still makes sense by 30 versus potential hours of finding new products right so it's a lot more time beneficial if you are finding a lot more consistent products that you can replenish over and over but you can still reach very nice Revenue num numbers and profit numbers by consistently just buying new products but just dependent on how how much and how viable you're able to Source like if you can consistently Source yourself 50 100 plus new unique
(1:37:10) qualified asens per day you will have absolutely no problem scaling wide versus replenishing but you have to build build up that skill set to be able to do that every single day but yeah like a lot of it when you are building your catalog is you shouldn't have a unrealistic or false expectation when you first start because it is generally speaking very slow when you start unless you're injecting massive amounts of capital into the business which most people do not do and I would not recommend most people do it is very slow to start but
(1:37:58) if you're doing it and you're doing it consistently you will find it begins to snowball but you do have to put in that consistent work and frontend load that work to begin with Aman said would you say ca is more going wden as compared to.com 100% there certainly are some asens in Canada that you can go relatively deep into uh but generally speaking you would be going more wide on in the Canadian Market than you would in the US market for sure having much more going casting a much larger net in Canada is going to
(1:38:41) benefit you a lot more and you say you're having uh no issues finding asens at all as you said capital is my biggest issue at this stage and that's good good that's a very good place to get to and quite a few people takes them actually quite a while to get there and a lot of experience to be able to get to that point and then you just have to figure out how you're going to grow your Capital whether you're just going to consistently send in products try to profit re-inject it back in the business whether you're going to eventually start
(1:39:11) to leveraging credit assuming that you're able to do it and you're able to do it intelligently whether you're going to try to get outside investment whether you're going to try to sacrifice some of your time to do something else to generate income to pump back into your business whatever but uh you can do any of those or all of them and uh yeah once you are at that point then it's just basically how much more can I get back into the business to keep it growing but yeah any other questions like I mean that basically wraps up what
(1:39:52) I wanted to discuss specifically for keepa I believe that covers the vast majority of the fundamentals when it comes to keepa itself um if you have any questions about keep at all or realistically about anything Amazon or anything at all we can definitely just kind of shoot the as they would say for a while and have a bit of a Q&A Jordan I just have a question about the sourcing specifically for OA um I know that in a previous uh session specifically the one in which you reviewed uh the various methods for um
(1:40:28) sourcing product in a way like storefront stocking um Etc uh you had mentioned that your recommendation for beginners was to uh start with one method uh spend some time uh practicing that method before uh transitioning to um another method and and in turn learning that one but um if you're practicing the one particular method that you choose say storefront stocking um and you find that you're not uh or that you're unable to to locate any products you know after you know uh several hours or so attempting to find
(1:41:04) any uh because you've confined your attention as a beginner to that one sourcing method would you just recommend then if you aren't having any success finding products that you just stop for the day and then come back at it another time it depends so sometimes that can help just stopping and having a break because you just could be mentally frustrated worn down that definitely does happen um but I would encourage you that so say if you've been trying store phone stocking for like the past week and you've actually been putting real
(1:41:32) hours into it and it's not working for you at all you can't find anything tell me why either we'll come on here we'll review some stuff as a group or individually or you can put it in the chat or you can send me a video clip and I want to see what you're doing so I'm going to ask you send me a couple storefronts that you've been stalking so and we can do this right now as a live example if you want to but send me say two three storefronts that you stocked most recently and how much time did you spend stocking those we're going to
(1:42:02) start first reviewing those storefronts and I'm going to go over them with you live on whether or not I feel like these storefronts are even worth digging deeper into and you can probably get some live um feedback on how I would determine if a storefront is even worth digging deeper into spending that time in that storefront because that's going to be a big factor on whether or not you're going to have success stocking a storefront because if you're opening up a storefront and they just have absolute junk and then you end up spending
(1:42:33) multiple hours on that storefront of course you're not going to find anything it's going to be very frustrating so a good key point with storefront stocking is to be able to more quickly identify if it's viable so like your question is is like whether or not you should stop with that individual method I would encourage you first to get feedback from somebody more experienced with that particular method on why you're not having success if we cannot at that time determine why you're not having success then maybe we should try focusing on
(1:43:04) something else okay thanks 100% And yeah like I said if you want to look through some uh storefronts live right now uh and you're you're comparable sharing it we certainly could that's exactly what these sessions are for I don't have any readily available right now um but um when I do come across a couple of them um I have a spreadsheet somewhere have to find it um I can post it in the the server definitely and like again like you're not comfortable just sharing the data uh specifically publicly you can always do it privately as well um from
(1:43:44) there because so I mentioned that you should focus on one individual thing but also just consider the branch of additional resources that are available to you for that individual method okay so say if you're just focusing on storefront stocking that should be your primary focus but you should also consider that maybe you should start going down some rabbit holes or rabbit Trails um and if you do find a viable storefront because it's basically a extension of storefront stocking pump that storefront into a watch thread that
(1:44:24) you're that you have in the server privately Source their entire storefront extract as much value as you can pump it into sour watch and then all you have to do is just monitor when they stock new products and chances are you'll continuously extract additional value from that storefront without having to spend additional time sourcing through it specifically it ends up being a lot more efficient to stock or to find their new products and if they're a viable OA seller if they know what they're doing chances are they're going to be stocking
(1:44:53) more more consistently good products and you can just get notified via a bot and then just see if you can find that somewhere else so any other questions comments concerns things we want to cover anything at all it's exactly what these types of ends of these sessions are for um for me um your your your order sheet that um you have for purchase um is it how how best possi can I know it should be integrated with um withm right so yeah like the sourcing sheets that I have they are formatted to work the best with sell ramp yes um and I
(1:45:53) I just because can it track does does it track um um like the sales or it doesn't it doesn't not my my my profits so it won't track your profit specifically so it's not specifically a profit tracker um I'll show you what it is but I'll also tell you like I don't try and push things on people chances are most people probably don't need the premium or paid version of my order tracker it's only like if you realistically need the features that it has it's just a nice little handy thing to do um most people for like an order tracker you just need
(1:46:30) something extremely basic to input the stuff that you're buying what your buy cost is what your asens are what your Source URL is how many you're buying how many you're receiving that's like the base thing that most people need um I'm just pulling up the template here so just give me a second yeah for me I like I really like the organization of everything given the fact that I plan to Branch off into um some format of wholesale as well and I think that it's really it's something that would be really good yeah and like again it just depends
(1:47:07) if you would use the additional features that are in there because like the free version it does it can still be organized for you it's just not automatic uh and it just doesn't have the additional features right so like the free one is right here like anybody can get this for free and it allows you to organize individual OA ra and wholesale products and you can organize them by supplier it just does not make the suppliers for you automatically so it just takes a little bit more work right and like realistically this is probably what most
(1:47:37) people need uh the one that is the premium one this one when you export stuff into here it moves it for you automatically when you import the script and then if you don't have a supplier in here like say um say we don't have uh Zephyr epic in here it doesn't exist it'll automatically make a new supplier heading for you and put your product underneath that supplier heading automatically for you so it's a little bit more automated and then it has like your dashboard and your spend tracker and that that type of stuff so it helps
(1:48:14) you just see your stats for purchasing but not for profit of how many units you bought every single month or per year how much you're spending that type of stuff and gives you ways that you can track how much uh taxes you've been paying on products I don't personally utilize this tax section here and I don't think it's really needed if you do proper bookkeeping I just put this in here because uh somebody specifically asked for it so this is sort of like a Celler board way uh into that I wouldn't say it's exactly the same because like
(1:48:57) seller board like it has all your stats about like um you can input obviously all your expenses if you want and you can actually see like your quote unquote profits I put that in air quotes because it's not always accurate uh this is more so specifically for your orders and gives you all your stats like at a at a glance right um it's not an accounting uh alternative neither a seller board this is just to get like uh a good indication on how much you're ordering every month and where your spend goals are things like
(1:49:30) that and it does it for you automatically so like say if you have a ton of stuff in OA ra and wholesale throughout the entire year or throughout the entire month it'll automatically calculate for you every single day how much you've spent you don't need to put that in somewhere else so if you have a spend goal it helps you track your spend goal it'll help you see all your stats for how many units you have on order that you've received uh that you've ordered total that type of stuff and then obviously if you utilize
(1:50:01) uh Scan Power that does have a section in here where you can like easily import stuff into Scan Power so like you can have a product in here like random product all this information and this is like the exact system that I use so just a bunch of random stuff we order 10 so when we order a product we export it via a seller amp button comes directly in the order tracker right and then it moves by itself automatically to the corresponding uh supplier we indicate uh it'll automatically tell you the date that you ordered it because the day that
(1:50:40) you exported is going to be your order date you input how many you ordered and then when you receive the products you you input how many products or what day you received it and how many you received if you didn't receive enough it it'll yell at you and go red if you did receive enough it'll go green and then when we have all the stuff ready to ship all we do is just click the ready to ship button and that automatically uh starts building up a uh an export list for us to oneclick export into scam power so we can just easily go into here
(1:51:13) when it's all ready to ship we can highlight everything use their uh extension and automatically import it into a buy list and that Imports all of our uh all of our inventory automatically and then we can start processing it and then when we know that it's uh shipped it's already good to go we uncheck ready to ship we Market it shipped and then we know that that product has been shipped and that adds that changes our dashboard accordingly it'll indicate uh in the corresponding year that those products have been
(1:51:46) shipped I think I have some other details in here too but yeah that's how it works at its core yeah I just really like the feature where um you know each it track how much money you spend plus the amount of units you actually send in for a specific month so it could actually help for me I think it help me um break down uh how much units make how much profit and so on yeah and like obviously if you would utilize those features it would be worth it for you right but again not everybody would so if you wouldn't utilize those features then I
(1:52:28) would say do not buy it only buy it if you actually would utilize that stuff so yeah here like so uh right now in my import list um in the version that you get this little guy up here will not pop up but in the version that you get it will start with just your regular uh item so if we we see that's in our import list right now obviously if we uncheck it as ready to ship it's no longer in there and then if we look at our dashboard that's the only thing that we have in here right now let's get rid of this and so we have this guy for 100
(1:53:07) units uh March 10th and say we have it shipped so if we look in our dashboard it tells us how many units we've purchased for wholesale it'll break down our total cost it'll break down our total uh expected profit B Bas on what we import into there our potential Revenue uh and then it tells us obviously how many units we've shipped per month as well so if we change this to March it tells us how many units we've shipped so if this is unchecked that means that they haven't been shipped it adjusts your stats accordingly and it adds them all up for
(1:53:45) you and then obviously it also tracks in your daily spend tracker if you set a spend uh a spend spend goal every single day which if you are looking to scale I would highly recommend that you do you don't need this to track your spend goal but this just helps automate it we change this to March 2024 we can see it automatically calculates that we've spent this much on this day and if we add this again so right now we have spent uh we have spent $500 for today if we add this line in here again for the exact same
(1:54:23) day it'll add that in there for us accordingly so now we spent 1,000 bucks and then if we change this to March 6 it'll change it for you automatically and tell you what day you spent what money so now we spent 500 March 5th 500 March 6th just makes it easy to track things a lot of people do this kind of stuff manually as well so yeah like this is a tool that I personally utilize in my own business that's why I produced it and I figured other people could utilize it as well that's why I offered it for sale I just
(1:55:07) think it's it's helpful but again you only need it uh if you would actually utilize it that's all so in terms of accounting so do you primarily just do QuickBooks or or do you also use another accounting software I personally utilize zero but it's the exact same thing as QuickBooks it's just what I personally started with and I want to make the transition I just have never taken the time to make the transition from zero to QuickBooks but I it's basic it's the exact same thing so we utilize a combination of zero which would be
(1:55:45) QuickBooks uh a2x which you don't necessarily need but that just Imports transactions all your transaction details from Amazon directly into your accounting software along with your cost of good sold you can do that stuff you can import that stuff manually it just makes it easier and I think there are other Alternatives like uh taom mate I think that might be a little bit cheaper as well because uh a2x is kind of expensive uh there are also some people that only use a2x once per year and they do all their data in one month and they
(1:56:16) do it all at one time so they they only have to pay for for one month you can do that and then the only other thing that we personally utilize is a software called hubdoc and that just makes it easy for us to import uh receipts invoices stuff like that uh you can basically use anything that you want I think QuickBooks has something built in you can put it in a Google Drive whatever I would highly recommend that you digitize your receipted invoices and put them all in one place um the reason why I use hubdoc is
(1:56:46) because it makes it very easy to just send it um send it via email it Imports automatically into hubdoc and then hubdoc automatically extracts all the information from the invoice and categorizes it by supplier so like for example if I buy something from like say Costco all I have to do is take a picture of the receipt on my phone goes directly into hubdoc and then hubdoc automatically extracts that it's from Costco I bought it on March 10th uh I spent $5,000 and then it also makes the entire re receipt searchable so like if I
(1:57:20) bought I don't know reactant allergy pills I can just type in reactant on hubdoc and it'll find every single recer invoice that has reactant in it it's just it's just nice if you have to try to track down stuff that's hard to find or you forget where it is another question I had kind of related to the receipts how so do you you primarily manage it with hubdoc and is that the same for your ra receipts or if you do ra yes they they go into the exact same section they just get obviously um they get filed under their own suppliers so like there's a
(1:58:00) supplier for all of our wholesalers every individual wholesaler has its own uh file every single re uh ra supplier has its own file but again that's not necessary to do you can you can organize it any way that you want and I also believe that if you import stuff into Google Drive I believe Google Drive has that OCR stuff where it makes them searchable as well well I'm just not 100% certain I know Google Drive does that with pictures I'm just not sure if they do it like if they can extract information from receipts because yeah so it so I'm like
(1:58:39) this is primarily to combat and auth right um so you have all your receipts and all your documentation well organiz and how do you connect it with your order like if you're using do so it's not just for uh in authenticity but obviously that helps but it's also just part of the process of keeping all your documents organized in one place and accessible so whether you need to submit receipts for inauen inauthenticity whether you need to submit receipts for lost units uh whether you get audited and the CRA asks for receipts instead of
(1:59:13) trying to give them a stack of receipts you can literally just give them a user account to whatever software you use and just say here's everything here's all the receipts fine whereever you want um sorry what was your other question H how do you connect is there a way to connect how do you integrate your receipts with their corresponding orders gotcha so uh with hubdoc I believe it's I I'm not sure if it integrates like this with uh QuickBooks because I think zero owns hubdoc as far as I know but like with hubdoc you can actually set it
(1:59:51) up so that like it automatically after it extracts the information from the invoice it automatically Imports that as a purchase into zero and it tries to match it up to a bank statement or one of your one of your bank statement lines right and so like say if you have a bank statement line that's imported from your bank statement for Costco for $100 if it Imports a receipt from hubdoc from Costco for $100 around that same date not necess the exact same date cuz sometimes statements are off it'll automatically turn that section green
(2:00:27) and it'll tell you that you should just reconcile this transaction obviously you need to confirm that it's uh accurate before you do it but it makes it very easy uh if you don't want to do that what I have done um because basically what you're doing is you're ensuring that you're you're reconciling your bank statement so you're going through every line uh putting that to its own account uh factoring the taxes and and then you're ensuring that nothing is duplicated or missing so like the process is is like your entire bank
(2:00:58) statement or credit card statement is imported into your county software no matter what you use it's all the same and then you are just telling the software of what this transaction was for so whether it was for supplies or whether it was for inventory for resale or it was meals or travel or whatever that's for your own personal records the CRA doesn't care if you do that and then you're going through your receipts and you're matching that up to your transactions one by one to ensure that you have everything so if you were to do
(2:01:32) it say manually where you just have like the receipts a physical receipt you would just have your entire stack of receips you grab one receipt You' find that transaction line You' make sure everything matches you reconcile that you put that receipt off to the side if uh you're doing that same process like say in hubdoc hub doc has an option where you can like check it off so as soon as that receipt is reconciled it's checked off so we know that we don't have to look at that one again and then we can see when we're done reconciling
(2:02:03) everything if something's missing duplicated Etc right and you can do the same process like say if you upload your receipts in like Google Drive you could probably just like put like an X in front of like the name or however you want to do it just to indicate that that's been looked at that's been reconciled does does that answer your question yeah yeah no cool that definitely something I need to do yeah it's just making sure that everything is in balance and ensuring that you are not claiming things that you shouldn't be as in duplicates and
(2:02:38) also nothing's missing and because because of that like it's in so much detail that's why like using that kind of software is the only thing that's reliable to give you your actual profits right you can't realistically rely on seller board to give you accurate profits because chances are you're not sitting there entering every receipt of your transactions into seller board and seller board also sometimes doesn't get things exactly correct so it's nice to look at to see that yeah I'm probably in profit this month but I would not rely
(2:03:14) on those numbers to make your business decisions if you see that seller board says you profited 10 grand this month make sure you do proper bookkeeping and Ure that those numbers actually make sense so how do you monitor your sales velocity and generally your sales if you're not using seller board what do you use that so like as in like individual asens like uh yeah like inventory replenishments yeah gotcha so Celler board obviously does have the inventory tool that you can use and I think it's okay I did use it for quite a
(2:03:51) long time time but there are better options and so the reason is this especially with new inventory seller board is completely because if you send in a new skew that's brand new you've never stocked it before unless they've changed this since I've cancelled which they may have but you send in a brand new skew and say it sells one unit you send in 24 your numbers are seller board is going to recommend that you send in like two or 300 the volume is completely um it will get better as you have more and more data and like if you have a small
(2:04:30) catalog that's fine because you're probably going to know all your new SKS that you sent in but when you have a very large catalog or you have employees processing inventory for you or employees purchasing without looking at additional details or like your order tracker Etc you may not know that this is a brand new item and I had many in es where we look at seller board for inventory replenishments and it's like okay seller board tells us to buy 200 units cool so I assume that we need to send in 200 units because our sales
(2:05:02) velocity is six six units per day or eight units per day cool we need to send in 200 so buy that and then all of a sudden uh my employee at the warehouse says well why did you buy this we literally just got we literally just sent this out like last week what do you mean but because like the numbers are all are all completely messed and cboard with brand new SKS um so if you're aware of that you can make it work quite well uh there are better Alternatives they still are not perfect the one that I personally use is
(2:05:32) called so stocked I think it's way overpriced for what it is uh it's built for private label sellers but their inventory tool is actually very good for away and wholesale but it is extremely overpriced um but I just haven't found a better alternative I am personally working with the company that uh owns So stocked which is carbon 6 they own like scan unlimited and some other stuff uh seller investigators whatever and they're supposed to be putting together a discounted package for only the inventory management tool for anybody
(2:06:07) that wants to just use that tool instead of everything else that they have bundled in with it like that's for private label sellers um but for your inventory replenishments like I think solb can work fine as long as you understand the flaws uh but I would potentially argue that the inventory replenishment tool in Seller Central may be even better than seller board you wouldn't use their recommendations for how many you should order but it tells you very accurately how many you sold in the last 30 days and you can make good uh inventory
(2:06:40) replenishment decisions based on that data alone right so I'm assuming so stock is probably best for when you're doing more high volume and a deeper range of Asin yeah cuz I think it's I think I looked at it was like 150 a month or something like that I don't know yeah and that would be us that wasn't cheap yeah it's us and it scales more with the more orders you have I'm pretty sure too yeah yeah and like yeah it probably it definitely wouldn't make sense for somebody that has a a smaller catalog um utilizing like I said I I personally
(2:07:18) utilize slau board for probably probably over over a year for inventory replenishment and you can certainly make it work you just have to be C cognant cant however you say it of the flaws and then work within it yeah do you do you sorry Sor in terms of the replenish when you're trying to replenish an inventory and Amazon is saying oh you need to send in maybe 270 and then sell aboard is saying need to send in 320 um how would you go about it so the inventory recommendations you should always take with a grain of salt okay so
(2:08:03) Amazon's Amazon's recommendations I wouldn't ever pay attention to because I don't know where they get their numbers from some of them are outrageous uh sometimes you'll sell like 20 of an item in a month and they'll say you need to stock 300 units it's like how does that make sense when you guys are also punishing us for like uh long-term inventory fees and uh it just their recommendations don't make sense uh with seller board there is a setting in the back end where you can set your individual waiting uh for your sales history based
(2:08:34) on time periods so I believe if I'm correct they may have changed it but you'll have individual uh waiting for uh your sales in the last seven days 15 days 30 days and maybe 60 days and so the higher the waiting for for th that individual period will factor in how many they recommend that you should be stalking okay uh so you can change that on Cell board but they don't make it easy to understand that's another thing that is frustrating because it's like okay cool why is my waiting for seven days set at 60% they don't make it very clear
(2:09:13) on what would make more sense so what I would basically recommend if you're utilizing Cellar board specifically speically it will tell you your adjusted velocity per day for your sales right ensure one that that's accurate so if it's a brand new skew make sure it's accurate but if it is then just work at stocking your preferred inventory amount whether that's 30 days 45 days 60 days Etc so if your adjusted velocity says one 1.
(2:09:48) 0 that means that you sell on average one unit per day so that means that you if if you want to stock 45 days of inventory you take 1 time 45 you're send in 45 days worth of inventory where seller board may actually be a little bit more beneficial compared to Amazon itself is you can make a setting to notify you in advance on when you're going to potentially stock out so you can set like lead times right like supplier lead times or or prep Center lead times or whatever they have in there so like say you set a lead time of two weeks that means that they are
(2:10:29) factoring into their calculations two we period for your inventory to get purchased to get Amazon to be available so that that means that they should be recommending to you two weeks in advance of when you should be ordering your products because you don't want to be ordering more products when you're already stocked out you want to be getting them to the warehouse as you stock out um so when you are calculating that um 30 40 or 60 days um do you start the start the days when you purchase the item or when the item actually um
(2:11:05) is seller um Prime fulfilled so you want to figure out what your own personal lead time is and so what I mean is this so like say if you're doing all O8 right and you have a are you prepping and shipping yourself or are you using a prep Center I prep and ship myself okay how many shipments are you sending per week for me it depends I I don't really have a specific um shipment sometime I'll spend um say I'll send in 15 boxes um this week I maybe not send in any the following week I'll send in eight all depends to be really really and truly
(2:11:54) for me um but sometime when it goes to let's say Alberta or when it goes to YYZ the sometimes it may take 10 days especially when you go go to Alberta it's almost like a two we wait before it's actually checked in So yeah so it's all over the place for me so yeah we want to factor into our lead time when we're making those calculations so just say for the sake of Simplicity we're going to put you on a one shipment per week schedule so that means that you're sending one shipment per week because we at a point now where you're going to
(2:12:34) have enough volume to support one shipment per week just for the sake of argument so that means that when you order your products from your OA suppliers we're probably going to factor in up to seven days to get all those products to you and then it is potential that it may may take up to another seven days before you complete the shipment if you're on a one shipment per week basis okay so that we already know that just from buying and prepping the products we have 14 days lead time okay if it on average takes our products to hit the warehouse
(2:13:09) and become available for sale two weeks and that is your overall average we want to add an additional 14 days of lead time so then our lead time is 28 days or almost one month so that means that if you want to stock one month's worth of inventory you need to be ordering your products one month in advance so for example if your skew sells a 100 units per month every single month you have the data to support that and you can make a good educated decision that it sells 100 units per month I know that my inventory is going
(2:13:47) to take one month to get to Amazon all said and done so that means that by the time I'm down to 50 units my units that I'm buying of 100 units should already be ordered and on the way to me because by the time those 50 units sell out my additional 100 units that I ordered for 2 months worth of inventory is going to be hit in the warehouse that would make it so that you are never stocked out or you have very limited stocked out days and again this is a little bit more advanced so like for those sellers that are absolutely
(2:14:23) brand new and you're just testing asens you're setting stuff in this is not for you but if you are somebody that's consistently sending in inventory and replenishing inventory this is going to be one factor that helps you break through some plateaus and expand quite rapidly Ur you're not stocked out because if you have many stocked out days especially for some of your best asens you're losing a ton of money okay fully fully understand it's just that the velocity for sometimes differs cuz I let's say I purchase something I
(2:15:06) say okay this I purchased 10 at first and it sells it takes maybe um seven days to sell when it's when it's F fully fulfilled and um I was like all right I'm going to buy 30 and um um purchase 30 sending by the time I send it um within 3 days all 13s finished yeah and that's part of the process about like reviewing your inventory and adjusting your velocities over time because your inventory velocity is going to change for as to as and it's going to change up and down and when we're just sending in new inventory
(2:15:44) we realistically are just Gathering data when we send in those first couple shipments of that new inventory uh on how many of these are actually going to sell because again we know from our keep session that we don't know for sure based on keepa how many units we're going to sell we can make an educated guess but we do not know for sure as soon as we send inventory into Amazon it hits the warehouse and starts selling that is real viable solid data now we know exactly what we can sell so I would the way that I would analyze an
(2:16:20) inventory list in is say I buy a product and the first time I buy it I set in 24 units that's what I figure that I can sell that's that meets my my Capital requirements Etc I send it into Amazon and say it hits the warehouse and it's all received and it sells within two weeks so I know now that realistically I should be able to sell 48 units in a 4-we period right cuz you can take 24 divided by the amount of days it took you to sell 24 divide by 14 so that means your adjusted velocity is 1.74 per day or 1. 714 you
(2:17:04) times that by 30 an entire month that means that you can actually sell about 51 units per month in total so that means that on my next order assuming I have the capital to support it and I'm at that point in my business where I'm looking at expanding I want to send in probably 48 or 50 some units at least for the one month worth of inventory and then I will actively uh analyze that data and work on over the next two to six months it takes a while to make an asent very stable and to consistently ensure you have stock and are not consistently
(2:17:42) stocking out it takes a long time uh but I work probably over the next two to six months consistently analyzing that data and and then working at ensuring that we do not stock out of that product assuming it stays stable and profitable but so I'll see if I can take a screenshot of stuff without exposing my data here hold on I'm going to look at a different screen here one second uh where's my bookmarks I have to make sure that you guys are not looking at the wrong screen here uh so stocked we'll open up so stocked I'll
(2:18:37) take a screenshot of what it looks like one second all um while we're doing that um what do what do you think it cost to um open uh to create a website or to have someone create a website for you what are you what is your purpose of creating the website um just up front for uh Wholesales cuz some wholesalers want or Distributors want person that actually have on our website so they want you to have a website as in just contact information or they want you to sell via your own website maybe they want things to have it appears as if things
(2:19:29) sell on on the on said website so when I tell them you when for for instance when I say I plan on selling on multiple um channels so eBay Amazon Facebook Marketplace definitely not telling them that I let them know yes I sell on Amazon but um for instance when I when I just just started and I wanted and I reached out to Crayola and the speaking to the lady she was like um what about your website and I'm like website what are you talking about uh so that I think maybe I might need one um to When approaching um
(2:20:18) especially uh Distributors are reaching out to a brand directly so in general my opinion might be a little bit different than other people I don't personally believe you need a website unless you are attempting to do brand management or you are attempting to lie to a potential distributor and not tell them you sell on Amazon right because if a distributor knows you sell on Amazon and they ask okay where's your website if you know that they're a viable distributor send them a link to your solar storefront there's my website yeah aan
(2:21:03) just said the website is Amazon for me I always be up is you want to work with me you don't want to work with me no problem I'll spend my money elsewhere that's that's just how I go about it yeah like so you will hear some people hey Evan could you mute your mic Evan heav sorry I just switched over to mobile for some reason no problem do you want to just manage your mute um but like in terms of website though like you will hear some people say like they they actively lie to Distributors and they do not tell them that they sell on
(2:21:54) Amazon that like I've been very vocal about it like I think that's not a good way to go about it because it opens up a ton of potential issues for you that can be avoided if you're just honest right and people will argue well well you can't open an account with those people uh if you sell on Amazon so be it there are other places you can right and a lot of those places that tell you that you can't open up an account because you saw on Amazon if you actually talk to them and you're a professional a lot of them
(2:22:21) not all of them but a lot of them will actually sell to you even if you sell on Amazon but they tell you that because they don't like dealing with the traditional Amazon Seller who's just a Time waster gets a catalog talks to this big game and then ghost them or places an initial purchase order $500 they're like you're a waste of my time right um so that's why I don't like lying and if you needed a a front for a website that kind of ties into you potentially lying to a distributor right because you can produce a Shopify
(2:22:56) site yourself very easily right uh it costs whatever Shopify cost I think they increase their cost with like 50 or 100 bucks a month you can get an entirely functional e-commerce website very easy with Shopify it's like Shopify can be basically drag and drop or you can make it more complicated if you want to completely functional website but if you're not actually selling the products through there then you're still kind of light oh okay that's I understand that but for me I take my word very very seriously so
(2:23:28) whenever I approach distributor or whatever because I like to call I'll always when that question come up I'll always let them know I sell on Amazon and um or not either they I don't sell sell to Amazon sellers hang up or they drill me like okay you sell Amazon um where else do you sell and stuff like that so so I think that if I got a a website up and even if I do sell stuff um through my website maybe small amount um that techn technically would wouldn't be lying to them but uh I always make make it be known that I do
(2:24:14) sell on Amazon and that is my main um channel for sales you know I asked a a long time ago uh in in one of these Amazon groups uh if anyone has any information about creating a website I must have gotten like 12 different DMS from people sending me their website portfolios and they were asking only for like 150 like 250 I think the highest someone was offering 300 bucks so I mean that kind of gives you the range and and I looked over their portfolios they're pretty decent website so yeah you want there are definitely other options too like so if
(2:24:53) you want somebody to do it for you like the chances are if you pay somebody like like say a VA or somebody quote unquote like an overseas person they're probably going to put together like a a general uh WordPress website for you that has e-commerce functionality and then so you pay them your development fee for them to put that together for you they're just using some standard templates and then you would pay regular hosting per month for that website and so like depending the the the demand on that website your hosting will probably W be
(2:25:21) a couple bucks a month um it is more complicated technically to put together those types of websites there are like quote unquote done for you uh like drag and drop options like Squarespace or Wix or GoDaddy uh where you can basically make a professional looking website it's like drag and drop um but it costs you just a a monthly a higher monthly fee than just hosting to do that and like so for example if you go through the Squarespace if you just have like a standard Squarespace website it probably run you like I think it's like around 20
(2:25:56) $30 us per month if you want e-commerce functionality in a Squarespace site their prices increase quite substantially and it probably be about like $50 $60 a month whereas if you go with somebody that produces a a WordPress website for you with e-commerce in it you wouldn't incur those additional cost per month it would just be your your hosting fees and if they use any extension stuff like that but again like I don't personally believe a website is really needed uh I don't really for see um where a website would specifically
(2:26:34) benefit you with a distributor because unless you are specifically trying to come to the point where like you specialize in a certain category and you're trying to get them to give you a really good discount or really work with you and you want to seem like a industry specific professional that sells outside of Amazon as well as Amazon maybe but like for the amount of work I don't believe you're going to get a whole lot of additional benefit from it right and so I use this example a lot because one of my very first wholesale accounts that I
(2:27:13) ever opened was with a multinational Beauty distributor that I never had any business open an account with you need to have a hair uh journeyman hair stylist license to or a at least a hairstylist license to even purchase products from them I did not have that um at that point it was relatively early in my Amazon career I barely had sales on Amazon to begin with uh but my family I had helped my family in a salon business and so I was relatively familiar with that business and the Distributors the products so I could like talk the lingo
(2:28:00) I guess per se right so when I had the conversation with the sales rep who I didn't know to begin with I had a conversation via phone I was just able to talk and communicate with him like I was part of the industry so he just assumed I was and never asked any additional questions uh I ured later on I didn't at the beginning because I was unsure and I I was not experienc as what I am now I didn't say to him at the beginning that I was an Amazon Seller uh later on because I wanted to avoid potential issues happening which I had with that
(2:28:32) distributor I informed him that I was an Amazon Seller and he was cool with it because I was a professional with him and we did a good business together just in my opinion if you have to lie to the distributor to try to get their products it's probably not worth it you're you're opening yourself up to a lot of potential headache in the future and I've experienced that headache that could have 100% been avoided if I told them I was an Amazon Seller yeah pretty much guys U locally when you if you're spending money um
(2:29:16) most business I you want to mute yourself Wi-Fi sounded angry I am so sorry guys that's fine it's funny um but yeah like with dealing with wholesalers and Distributors a big chunk of the game is if you're willing to spend money that's what they're in business to do they're in business to move products and if you're actually willing to spend a considerable amount of money with them a lot of Distributors that do not sell to Amazon sellers all of a sudden do when you're actually willing and able to spend real money with them and that's
(2:30:12) not like spending that's not like placing a $1,000 order that's spending multiple tens of thousands of dollars of multiple tens of thousands of dollars with them every single month Capital definitely does open up a lot of opportunities with wholesale sellers you don't need that for every wholesale seller like there's wholesale suppliers that give you AQ of 500 bucks 750 bucks but a lot of the bigger ones you do need a lot more capital or commercial space in order to even talk to them but yeah so like this guy here that
(2:30:49) I put uh because I couldn't share my screenshot tool so this guy down here is what so stock looks like so on the left hand side that you don't see you would see the product your skew the as all that kind of stuff um and your recommended order amount and then on this right hand side of the screen here you see uh how many days of stock you have left what your adjusted velocity is and then how many uh units you sold on average per day for each time period so for the last 180 days 90 60 30 15 7 and two okay and with so stocked which I
(2:31:29) really like is you can adjust these waiting periods this is like your waiting section that you would use on cbard uh was so stocked you can very easily adjust these on the fly so like for example with this with this particular unit we haven't really stocked it for like two months basically we did have some units in the last 15 days but we haven't stocked it for quite a lot at all so I could on the Fly just check off and remove the last 60 days 30 days 15 7 and two and that would change my adjusted velocity automatically for
(2:32:04) me on the Fly and it would only factor in the days that I want it to to factor in right and with so stocked it also has an option where it uh doesn't automatically factor in uh stocked out periods to your adjusted velocity which I don't believe believe seller board does so that means that like with this particular as we haven't sold any in the past seven or two days so it's completely removing that those days from our calculations because we were actually out of stock right whereas with seller board I believe they still would
(2:32:37) Factor those days in even if you did not have stock at that time so like I'll turn off some of these settings for an example I'll use the exact same product just turn those guys off and oh that's a different product where was I just looking I think it may have just adjusted in real time this this is the exact same product but I think it just adjusted in real time so you're all done uh this is the exact same product it just has a different uh different one80 and 90day stat for some reason but you can turn those days off and it adjusts
(2:33:19) it changes your adjust the velocity accordingly and so you you can do it very quickly and then they have an option where like you can click into the inventory I'll see if I can take another screenshot here and you can very easily see how many units you've sold on a daily weekly or monthly basis and you can do all this directly in the platform without having to go back and forth to Amazon right which I find is very valueable and it's very easy to access this information seller board has something like this where you can kind of see your sales
(2:33:56) velocity but I just I don't see it's as accurate so like you you can very easily hover over these units over whatever time period you want and it'll tell you how many units you sold in a 7-Day period or you can put daily or you can put monthly so like this one Spike right here this was February 12th uh 2024 to February 18th in that time period for the skew I can see that we sold 57 units so I can use that data very easily and quickly to help replenish inventory uh Aman uh because you asked about the type of box does it matter
(2:34:42) other than the 25 Ines all around for example sending a branded box I heard we're using boxes are okay yes like WiFi that's completely fine the only issue that you have is that Amazon actually has a minimum requirement for box structure uh called ECT or Edge Crush test okay so most people have no idea what that is but if you look on Amazon's requirements it tells you that a box that you send to Amazon has to have a minimum of a 32 uh I think it's like 32 inch square or whatever ECT so every box that you have if you look at the bottom
(2:35:22) of it it'll have a stamp on it and it'll tell you what the ECT or Edge Crush test is so as long as it says 32 or higher you're good if it says less than 32 do not use that box because it's technically not allowed in Amazon and it's considered not stable enough and like the the edges can uh could potentially Crush which Amazon will not accept I guarantee you most of you people probably didn't know that taught you something um for the new sellers I were what I've noticed is that when I'm buying box from Home Depot um when I purchase the large box
(2:36:07) I'm sing to Amazon I think it's like a 24 by 23 um you can only you can only fit50 when I when I use the large box it's always like $30 but when I use the medium the medium box it's always like $15 as long as it's below 22 kg so the price that you pay per box does have a couple different factors so one factor is your weight per box and your dimensional weight so like say for example if you're sending in a large box and that large box is underweight because large boxes you would typically probably more so use for bulky items so
(2:36:55) sometimes when using large boxes you can't always get to 50 pounds but say you can but sometimes you won't so if they are underweight you're going to get charged additional for that uh you're also going to get charged for your total weight on average per box and how many boxes you have so you'll find that like say if you send I did the calculation a long long long time ago so it's probably changed and I don't remember what it is but um we played with it uh and I think like the threshold was like eight boxes
(2:37:28) at that time at 50 pounds per box gave us the best um the best rate per pound if we sent in like five six seven boxes are and they were all 50 pounds we did not get as favorable shipping rates right and then basically anything over I think it was eight boxes at that time time made very minimal difference on the cost per pound but if you do have multiple boxes that are underweight um or under stuffed rather then your cost per pound will also increase accordingly I hope that makes sense Ron also be careful I think Jordan
(2:38:11) we spoke about this this week the Home Depot large boxes they're nailing people for because they're 68.1 cm and that's over the 25 in so I got dinged on one box but I know someone else I think in the Discord got thing for four so I would stop using those boxes just in case if home boxes are oversized I haven't used Home Dep boxes for years uh you do not want to use them uh we use basically exclusively U-Haul boxes U-Haul large boxes are 60 about 61 cm at their tallest and those are within guidelines yeah yeah but you can only um
(2:38:58) you can only put 50 pounds in it right correct yeah but you can't have a Bo yeah but you still can't have a box that's larger than 25 in and 68.1 is the dimension of the Home Depot large box doesn't matter the weight still D yeah yeah I understand that um but I think that's for the Home Dep extra large box I think um what I found out with me that is um whenever I do a large box um which is I think it's is it 58 or 60 I can't remember um50 it's $30 $30 or $32 Canadian and when I do um medium box 50 or 48 there
(2:39:47) about um it's 50 so what I try to do is all sorry to always buy pure mediums I am not I I'm not sure if I'm doing it wrong but that's what I've been doing sorry did you say you were sending 60 pounds in a box no 50s no 48 because I was ding once and I I decided I'm not going to make that happen again um but yeah like so dimensional weight does come into play but you want to use the boxes that make the most sense and it spreads it out more the more boxes you're sending so if you're only comparing one box your dimensional
(2:40:29) weight is going to change for a small box a medium box and a large box for sure but if you play with the same settings and say you do eight or 10 boxes that are all medium at 50 pounds and eight or 10 boxes that are all large boxes at 50 lb you'll probably be a much more similar uh cost per pound I would bet I haven't played with it for a long time but I would probably bet that would be the case um you always want to just use the boxes that make the most sense you realistically should stock small medium and large boxes if
(2:41:04) you sawell a variety of different products because there's going to be some products that just don't make as much sense in a medium box as they do in a small box because maybe you have items that are like very dense and small and if you put them in a medium box you're going to have a massive amount of extra room in that box and for one that's going to be against Amazon's guidelines because they will actually ding you if you have excess space in your box because they don't like waste um and two if you have a bunch of
(2:41:31) excess space in your box your units are going to be more prone to get damage when the being shipped so you always want to have the least amount of excess space in your box as possible with trying to maximize the weight I got you thank you for difficult for sure uh what do Amazon not ding us on as long as you follow all their guidelines to a te all you have to really pay is their Hefty fees and they won't ding on anything else but look at it this way so there are people that have a lot of negative attitudes um when it comes to how much
(2:42:27) Amazon charges Sellers and I get it they charge us a lot of money um when you look at how much Amazon fees you spend in a year especially when you're doing a good amount of volume you're like Jesus Murphy like that's a lot of money that's being spent but you also have to consider that this business you wouldn't have this business business it wouldn't exist if Amazon wasn't there and they didn't charge you those fees you'd have to take care of customer service you wouldn't have access to the customers that you have you'd have to take care of
(2:42:59) shipping which would make all these products completely unviable right so it's just like a cost of doing business and like I've always looked at Amazon selling fees for example as just like irrelevant like some people look at it and they'll like have a heart attack like well why are they charging like 30% of the product in fees that is isn't relevant to me all I want to look at is how much my product costs and how much I'm going to profit right their fees are irrelevant to me more or less So speaking of which have
(2:43:28) you looked into Walmart fulfillment at all I've been hearing some people kind of not pivot but supplement their Amazon business with Walmart considering the fees have been increasing so I've been seeing that a lot more with us sellers um I've heard that the Walmart fulfillment is starting to come to Canada I don't think it's fully rolled out here yet but it is definitely in the US and I've heard a lot of people having success in the US for it uh but no I have not personally looked into it at all to me like I don't think it's a bad
(2:44:04) thing to supplement your income and diversify I think it's actually really smart that you diversify your income just in case something does happen um but doing that like say if if you want to focus on another business or another platform um just make sure that you can handle it because like a lot of people if you try to divert your attention it could certainly impact your main business quite substantially if you have a lot of excess time and you can put that time into Walmart 100% with all your time right now is already spent on
(2:44:35) Amazon and you're also start diverting it to consider Walmart it may have more detrimental impacts than what you think I just want to say this session was really helpful and just maybe a recommendation for our next one is to go over more of the systems and sort of like the Cradle to grave operations aspect you know how a shipment you know would move through when you would get how how would you go from an order to complete fulfillment and then tracking it and then basically the entire uh systems process because a lot of the
(2:45:17) time a lot of the info out there is you'll find a lot for sourcing uh all these different methods and reading keog graphs and that sort of things but I I haven't found too much uh as a guided kind of re uh systems resource yeah like a walk through for that we can we can definitely do that like if you want like right now I can give you like a low level overview and then when we do a future session if you want then um we can kind of go into more detail yeah that'd be great so yeah like because a lot of things I know
(2:45:53) especially once once you begin scaling even more these things kind of add up in terms of all the stuff that you have to do later on and backlog kind fills up of a lot of this administrative kind of task so I with correct systems in place it definitely alleviates a lot of the time that you need to put in 100% so are you wanting like from like like like the very start like sourcing product like what exactly happens or like after we Source a product what happens from there would be after sourcing Okay cool so whenever products are sourced so right
(2:46:31) when we order products they immediately go into our order tracker so that we have a a record of what we're ordering how much we're ordering how much we're spending where it's coming from and this is what we utilize to track so this specifically like I built it to be relatively simplistic I've seen some people have systems where it's like very complicated they have like tons of note structures they have like individual sections where they put invoice numbers all that kind of stuff I personally feel like tracking like invoice numbers and
(2:47:02) stuff even like for like OA stuff is redundant because you should already have that in either your email or for us those emails get automatically forwarded to hubdoc so if I do need to reference a invoice number I can easily pull that up and I'm saving time trying to import that into a a buy sheet like this okay so say our supplier is Amazon and we're buying 100 units of this product from Amazon uh this is what it would look like what is today June 26 it would get imported just like this and we would do all of our orders for the day and then
(2:47:38) when they start getting received we do have a small warehouse and I do have an employee I have a few employees uh I have one that's full-time one that's part-time one that's casual for local okay but this process would be exactly the same if you're doing it personally um as we receive the orders throughout the week they get inputed into the sheet accordingly so say Amazon delivers us uh 20 units we didn't get all of our units so we only got 20 so we would then make a note here that how many units we received on what day just so we have it
(2:48:11) for record and in the event we ever have to try to contact set supplier to get refunded tell them what happened Etc so we would just put something like this received 20 units on June 26th and then if we receive 20 units tomorrow we put another line receive 20 units June 27th this would increase to 40 okay and most of the time uh with the way our order tracker works and how we order products majority of the stuff that we're sending doesn't get added to a shipment until these numbers match but occasionally from time to time we will
(2:48:48) be shorted units uh suppliers will have back orders Etc so if that happens again people have all types of systems I try to make it as simplistic as possible right so say uh Amazon's our supplier we got 40 units and the back ordered US 60 so what I would personally do is I would just copy this line onto the next one just like this I put my quantity ordered up here at 40 we receive 40 and then my next line is uh back order of 60 units from June 26 2024 order so I just try to make it as simplistic as possible but detailed
(2:49:30) enough so that we understand what's going on and this is what I teach my employees to do so that if they're putting notes in here I should be able to have no idea what's happening in the warehouse but be able to look at this and understand exactly what's happening so whatever system that works the best for you that is what you should do and then we would adjust this to 60 and this guy would be uh zero because we haven't received those units yet so that's the main process there so again try to make it as simplistic as
(2:50:01) possible for that process just copy these guys down if I can do it properly so we we've received zero those units and then we would just continue on watching this individual section until we either receive the units or need to contact the supplier for issues ETC right so we receive the units uh most of the units when they get received um depending on what we have coming into the warehouse that week they will either get uh lumped individually like basically piled in boxes or pallets individually unpacked until it's time to
(2:50:36) get everything uploaded or received and then uploaded to the shipment or depending on what we have coming in that week if it's not a massive amount of volume or we're not doing a ton of Pals that week stuff will get unpacked onto our prep tables as it comes in or organized accordingly so the way that our warehouse is set up is I have uh three I think they're 72 in Long each steel tables I have two rows of those uh and then uh on those tables uh on the floor we have like standing like standard like generic uh standing mats so you can
(2:51:12) stand at them at a long period of time uh so they're very robust durable tables we used to use just regular plastic folding tables too but we've had stuff that like it looked like the tables were ready to collapse so we decided to upload uh upgrade to seal tables so they'll get unpacked or unboxed if necessary if we're not keeping them as case packed units uh laid out on the table barcode facing you ready to go or depending on what kind of prep you need and then they will all get received so like the employee at the warehouse when
(2:51:44) we have everything they'll organize it accordingly so if they're case pack they'll stay in the case but they'll count everything that we have if we are unloading them they'll get unloaded on the table and like say their bottles of shampoo they'll all get lined up in a row on the table barcode facing you and then all we have to do is we know that we this goes in a poly bag barcode faces us so one person will put it in a bag one person will fold it over and uh seal it and then also put in the FN skew and then carry on with the next one uh but
(2:52:14) everything gets laid out before we're even doing any prep then we mark off what we've received received so let say we received this on June 27th we receive 40 units and now we know that this is received we are wanting to add this into our shipment we mark this off as ready to ship and we we come down the list we do that with all the units that we have received that we want to add into our shipping plan for that week or that day so that builds our shipping plan and uh when we check off ready to ship this automatically Imports it to our scam
(2:52:47) power uh import list and so depending on your process like you probably have a different process where you either build the shipments directly in southern Central or you use a listing software whatever have you you need to adjust to your uh personal process but we have everything so it all gets checked off this is all ready to ship say we receive this now June 28th we received all 60 all 100 are ready to ship so everything's been received it's all here then what we can do is we High like this we oneclick export it to a the scam
(2:53:23) power byy list and that what that does is that Imports everything into scam power and then lets us review that data and it's just like a list of products it'll have the picture of the product that's connected to the Asin it'll have our buy cost our supplier our our McQ this sheet will make you a new M skew if your item is not a replenishable so if it's a new skew it makes you a new msq based on your supplier Das your buy cost Das a random number right so it makes that for you automatically so all that gets in the
(2:54:00) buy sheet we just review it to ensure everything is accurate then we oneclick export it to a a batch or a shipping plan and then everything is ready to go so then the way Scan Power works is everything is laid out for you similar to like what 2D workflow would look like it shows you the product it shows you the required prep it gives you the option to print FN SKS on the fly so we have a couple listing stations where we have a a rolling computer cart with a laptop with a big ass lithium ion battery pack on the bottom of it and two
(2:54:39) thermal printers up top and so we have two of those carts so two people can simultaneously work on a shipment at a time and then beside that we have a it'd be like a restaurant style cart a plastic buggy cart that's long two shelf uh on the top shelf is our scale and then on the right hand side and then on the left hand side we have our um whatever you call it your your tape dispenser we use uh water activated tape so like we use like the better pack machines so it's hard for me to to try to visualize this but that's exactly what
(2:55:19) it is so we have like a boxing station and listing station and they're both mobile we can completely move them around the warehouse following me so far yeah sort of I'm not too Vis visual of a guy so maybe maybe a picture if I don't know or a drawing later on but I I I get the gist of the process let me see if I have a picture without exposing inventory and uh is that video going to show anything see if I can send this picture hold on share this is pretty old this is from 2022 uh where is Discord Discord and this is going to
(2:56:23) [Music] go in the general chat share so let's see if this uploads here so youve look in the general chat this is from back in 2022 are you able to see it yeah okay so those tables that we have we have one row there and then on the left hand side closer to the wall we have another row there okay our listing stations are the computer carts that you see close to you on uh next to the table so those are just like listing cart with a table thermal printers battery at the bottom and then underneath the table that you can't see is the computer or
(2:57:08) the restaurant cart so it be like a globe I think it's glob brand restaurant cart I think this is the exact one let me just bring it up here pretty sure this is the exact one so I'll bring this over on the uh screen share here so I'm pretty sure this is the exact same cart so we have this exact same thing but we took off one shelf so it's two shelves uh tall uh so we have one of these middle shelves gone and so on the right hand side of the cart on this side we have our shipping scales and then on the left hand side we have
(2:57:50) our tape machines which is the I think it's the better pack 555 33 three maybe ours are not automated and again like this is our process your process will probably be different and you don't need the equipment that we have this is just what I personally put together so we have this guy the better pack machine on the the left hand side of the cart so these are like uh craft or water tape dispensers okay they're not automatic ones so you just pull that lever and it dispenses uh X inches of tape so following so far yeah Okay cool
(2:58:37) so everything is uploaded it's in scam power so we have our entire list of products and so the packing employees don't even have to have anything to do with the listing process they don't even know what's happening on the back end and all they have to see is the items on scam power it shows you the actual product uh product picture has your title has your McQ and it has your prep requirements if it needs a bag if it needs a bubble whatever then it has a little button where you can print your FN skes so everything will be laid out
(2:59:10) and then we'll either have two to three employees packing depending on or prepping and packing depending on the size of the shipment and so typically what will happen say we have two employees they'll both have one listing station uh listing station each they'll both start on one end one over in the far end of the warehouse one in the close end of the warehouse everything will be laid out uh stuff that isn't laid out will be on boxes or pallet stacked on the floor ready to come in next after we clear off the
(2:59:38) tables and they will start printing FN SKS skew by skew and prepping that individual uh that individual Ace in skew so whether it needs poly bags just fnc bubble Etc they will prep those and then once enough stuff is uh prepped and ready to go if we don't have the space and we need to pull more up onto the tables then one person will start boxing the stuff that already exists and the other person will will continue to to prep uh and we always Focus the large heavy items first um so large Andor heavy typically like the heavy stuff
(3:00:17) first like if we have like containers of like um like 4 gallon containers of cleaner that kind of stuff will be focused first because that stuff will take up a lot of weight and then we'll just pack the additional small in between those boxes if we're not doing case pack stuff and then basically goes through that like with scam power you can pack your boxes as you go and as soon as you're done a box you can close the Box in scam power you can print your uh your your FBA label and then you can put that off to the side and that box is
(3:00:52) completely done you no longer need to touch it so you're like directly in scam power you're indicating what you're putting in every box and you're indicating what the weight of that box is so you just build the box so you just say I'm putting in uh 20 of the skew I'm putting in 30 of the skew and then you input your weight you close your box you print off your FB label put off the side it's ready to go so you do that until everything is boxed and then and uh then you're at the end of the shipment you're able to
(3:01:20) calculate your shipping costs based on your weight and uh print off your FBA or your UPS labels so still following yeah yeah okay so then that is a completed shipment ready to go ready to be picked up head out the door so then we would come after all that's done the shipment has been completed everything that has been shipped we would uncheck as ready to ship and mark off as shipped so that stuff is completed and it's been updated in our tracker it's all good so then of course in the meantime um anything that we order so any invoice
(3:02:07) that we get any receipt that we get it is automatically imported into hubdoc so if there's any ra shopping that's done the moment we come out of the store picture is taken upload directly in hubdoc we have filter set up in Gmail for all of our main suppliers that if we have uh emails from this email specifically if if those were only invoice emails or from this email with this keyword that email is automatically forwarded to hubdoc anything that's not automatically forwarded to hubdoc via email we do manually so those are
(3:02:41) automatically there and then that gives uh bookkeeper everything that they need because statements are automatically pulled through receipts are automatically in there they have everything that they need in order to pull uh everything that they need through right uh anything that we need that doesn't import automatically to hubdoc at the end of the month uh like say like any utility bills that we have that are hard utility bills that can't pull through those um as soon as we get them they get uploaded automatically well not automatically but
(3:03:12) we we do it as soon as we get it just so we don't forget about it because you put it off you say you do it later you're going to forget about it or just not do it I've definitely done that way too much and it completely up my process and then all a sudden we're three months behind um and then yeah so the way uh for inventory wise the way that I have it set up is are for any new SKS that we're importing I always uh when we're exporting data or when we're exporting the stuff from Sellar amp or from Amazon into our spreadsheet if if it is a new
(3:03:48) skew our list price is always the highest reasonable maximum price I would set for that item okay so if I look at an item like's say like this right now the buy box price is 4905 which is f uh fbm but I would look say this is a brand new a brand new item to me I would look at the very maximum price I could sell it at so let me just open this reasonably sell it at so it looks like it quite often sells probably at like say 55 bucks and it may even go all the way up to 60 so I would say my buy cost is $25 I would put uh $60 as my selling
(3:04:31) price because that is the maximum price I'm ever going to sell this the skew at and then I would export this to my corresponding order tracker so o r wholesale and it' be exported for me automatically then we do our shipment process right and then all of our stuff is pulled through through our repricer automatically I still use be cool I'm old school I'm not uh in the in the trends with s snap and all that but uh be cool has a setting that you can automatically set your Max cost to your first export price so meaning that like
(3:05:12) uh when your inventory is first uploaded to Amazon and it's pulled through from beool your list price will autom atically be set at your Max cost and be cool so we don't even have to worry about that still following oh okay I see I see okay that makes sense yeah so then like I have um our reper set relatively aggressive so like uh once it's activated once our inventory is actually at the warehouse um it will automatically find where it needs to be so that that's just a setting just to help us take out that additional step
(3:05:46) and then the data that we have to import uh which is imported by uh by VA team is our minimum price and our buy cost so with regards to the repricer I've often heard uh other sellers do the same thing mention where they uh before they ship it in I mean when they ship it they have the list price really high and then they adjust it later why is that like in terms functionality wise or I guess in terms of price wise is there an advantage doing that so I just do it my way because um it's just easier because like so for example if I'm looking at a
(3:06:29) new product like the product that we had here I am analyzing this right now so I already know that at Max cost I'm probably going to sell this for like $60 at the most right so this setting that when we export it avoids us having to reanalyze this listing when we're importing the data into be cool and trying to determine at that time what our Max cost should be it's just taking out that additional step because I'm already here I'm already buying inventory so I might as well input that data right now that's the reason why I
(3:07:03) do it and then bcool will automatically set that list price for me uh or a Max cost for me rather okay Goa yeah I mean I've heard different strategies for repricing I guess that would be a different session and itself um you know some people I think they they repriced during midnight or after I forgot what it was I saw a couple of videos on it but yeah that's i' be I'm not those are usually American sellers so I'm not sure how that would correlate to Canadian repricing I don't know why somebody would specifically want to repic after
(3:07:44) midnight uh like we do have repricing setting and strategy set up so like our price will automatically reset every day in the morning time so like it'll automatically adjust our inventory back up to our Max cost every single day very early in the morning and it'll sit at our Max cost for about 15 minutes and the intention for that is um that anybody that has other repricers that intentionally tried to undercut you will follow you back up there as well and you'll like quote unquote reset the price right that won't work for all
(3:08:17) inventory it'll only work for inventory that have relatively few sellers that are all following or trying to undercut each other right so most inventory doesn't work but for the stuff that it does work on it works quite effectively that makes sense yeah thanks for that yeah and then um so all that's in there we have our stats it gets uploaded into be cool uh bookkeeper already has the stuff that they need and then from there it's basically monitoring so stocked for replenishables which we look through every single
(3:08:56) day um ordering new inventory and replenishing existing inventory so that is a task that's done every single day and then basically that is more or less the process rinse and repeat uh bookkeeper takes care of all the accounting we take care of all the ordering uh and then more sourcing and that's more or less it uh yeah that was really helpful to know especially at the higher volume that you're at and the materials and equipment and the structure involved in the system that was that was definitely helpful and yeah like so each each thing
(3:09:47) like each individual process is kind of its own Beast right so whether it's prepping whether it's ordering whether it's bookkeeping um whether it's sourcing new products each one's it its own I kind of look at them like their own separate entities their own separate little kindy little tiny beasts and if you're doing stuff in house you'll have to actively work at each individual process to work with your guys' workflow and then to make as efficient uh in your space and with with what you have available to yourself right so just because my place
(3:10:22) is set up for prep the way that we have it setup doesn't mean that's as efficient as it would be for everybody else you may have less space you may have more space and you may have better options uh or Worse options than what we have and be more efficient uh I like to think that we utilize The Limited spaces that we have quite effectively uh but we still actively improve things so I'll still find like little things that can improve whether it's like removing the amount of steps somebody has to do in a day because moving just going from the table
(3:10:57) to go and get a new pack of poly bags if you're doing that multiple times per day that takes a lot of time and if you're doing prepping every single day that's a lot of waste of time throughout the year so once you start getting like really into things um looking at those minor adjustments can make a very big difference what's up Melanie um I was going to ask you a little off topic but kind of on on topic when would you suggest getting a repricer realistically as soon as you're sick of repacing manually yourself and
(3:11:39) honestly when you are selling and you have like say more than 10 aens you should be actively repricing consistently um well I do and I kind of like it because I like to be in control and I find I I'm scared that with a repricer I won't be in control that's why I haven't gotten one yet you are to a point because you have your own individual rules and settings so like yeah it can be scary that something might happen that is unexpected but if you have your own rules and settings it never goes outside of those right but that's what I'm
(3:12:17) scared of I'm scared I'm not going to set it properly and it's just going to be a waste well it it does take some it can I'm not going to say it does but it can take a little bit of trial and error but right you can also you can also like we can do sessions here or you can ask and we can make sure it's set up correctly so that you don't have those issues because I have more than 10 AC a lot more right and so and I just hav't I just haven't bit the it yet I know I should but right so like if you find that you are consistently having to
(3:12:54) replace your inventory because you're not price competitive then you can look at it like you are potentially losing a lot of sales right so price price competitiveness is not going to be the only thing that determines your buy box factors but it is going to be a very big factor right and so if you if somebody's consistently undercutting you and keeping the buy box from you and you can comb back that by just having a repricer instead of having to try to manually repace every 15 minutes 20 minutes going crazy every hour um you're going to by
(3:13:26) default make more sales right right so then yeah I guess I guess if I have the reassurance that it's set up properly then I would do it yeah um that's what I've been afraid of is that I'm just going to get a repricer and it's going to just it's not going to be set up properly and it's just going to be a waste well I don't really understand all that stuff right but that's the part of the thing about like diving into it and learning about it so you can learn about it so just because you don't know about it now doesn't mean you can't learn I mean I
(3:13:59) assume when you started Amazon you you didn't know how to Source right but you stuck with it tried it so but yeah like it is like it might seem scary because like the potential mistakes that could happen but it's every repricer I've looked at besides um what was that first one that I used repic it super super super shitty repricer um all the other ones are like very all the other ones are like very intuitive and like it's straightforward that this is what my rules are going to do and there not going to go under this
(3:14:35) price right all right I guess I got to bite the bullet then yeah like there a link for free trial for the be I cool seems to be the I'm not going with the aura or whatever the all these um influencers are trying to make money I'm not doing that so um already a bunch of those no I think some I think like a lot of people have the reservation with repricers that well why would I get repricers it's just going to cut down my inventory right or like my my selling my selling price so I definitely I definitely get that concept
(3:15:17) but the way I look at things is that I would rather my price be slowly cut down but I am still consistently making sales at a profit instead of the price still being slowly cut down but I'm making no sales and then I have to potentially wait multiple months for it to recover or maybe potentially that inventory never recovers um a lot a lot of people have the thought process that they're okay with waiting a couple months for inventory to recover to make a couple extra dollars I don't subscribe to that those those thought processes I would
(3:15:55) rather if especially if an item's dying I would rather sell it get my inventory out of but get as much cash flow as I can out of it and get that cash flow into uh better more quality inventory versus having to potentially sit on it for multiple months to potentially make an extra dollar or two per unit yeah well that's why I'm trying to get rid of all that stuff that was locked up and held up against my will right CU there's still stuff sitting in there that's not moving because when I bought it it was very profitable and
(3:16:30) they let it sit there and sit there and sit there and now people tank the listing and it's just doesn't move anymore it was good at the time but that was six months ago right stuff changes drastically when you like when you were talking about replenishing like they they asens that just they become dead over time yeah they were good and now they're not good and on to the next right and then there are other ones that you can replenish like you said you've had ones for years that you keep replenishing so yeah it's just like those each
(3:17:01) situation is so different 100% And yeah like stuff that is like long-term replenishable like it's actually fairly rare inventory that happens with unless again like like I mentioned it has some barrier entry the additional barrier entry might be like a very hard to get wholesale account it might be just very hard to secure inventory or behind people having to put in physical labor to go get it right yeah no Aman you said you're scared of the price ever Channel because of like the potential mistakes other sellers are
(3:17:39) making or what yeah like there definitely are a lot of things that um third party sellers make mist Stakes on that our things our monitors do catch uh but a lot of it also is Amazon as well Amazon may not specifically make mistakes although they do uh they definitely do make mistakes uh but a lot of it also is like them matching prices from other retailers and like they just don't have a floor price so like say Walmart's clearing something out that normally sells for like for example like those uh air inflator things that we got uh
(3:18:16) yeah those normally retail for like I think 60 bucks and we got them for a dollar and if Amazon had that no they were 80 80 yeah and so like if if Amazon had inventory and they were watching automatically uh Walmart with that they probably would have matched their price too and we could have cleaned out Amazon and they would have done it in unint that would have been fun yeah that would have been so fun they would have done it like unintentionally but because they they want to be price matched right they do that a yeah I sold out all
(3:18:45) those I so I so quite a few of those on eBay yeah I sold them on Amazon I just matched uh I just I told you I just matched their price not Amazon's price epson's price and they gave me the buy box all the time yeah you can't be greedy with stuff like that you know I had 20 I think I sent in 20 22 and then like I saved a couple and I gave away the rest but you can't be greedy with that just match it I madean 5050 bucks a piece thanks Jordan not a bad Roi a dollar into 50 no not bad at all not all no you rarely get you rarely get rois like that
(3:19:29) outside of books or drugs so right that's true no that was a good one and those cameras would have been good too if they would have shipped yes 100% but yeah like thing that I posted in the the chat before the session about that that leg go set so that I missed that I believe that was a third party seller uh that happens that happens quite often and like I'm I'm completely cool buying from third- party sellers whether to sell locally or even back on Amazon as long as they're FBA uh other people are not like that
(3:20:03) one was a Lego set that they had mispriced for $20 us and in Canada uh they don't sell a lot but they've also haven't been in stock FBA for a very long time uh the last time it was stock FBA sold for $300 God and we have I would say there's probably at least one if not two major Lego price errors every single month between our our deal channels it's just that's incred it's just people are not paying attention to but that's why that's why I'm trying to build that that price or channel so it can bring it to everybody's
(3:20:38) attention yeah no that's that's a good one and then I saw you also put Shoppers and was it Canadian Tire yeah and and the personal restock monitors those are coming they're not there yet yeah yeah yeah but yeah so like I don't know where I was going with all that but uh I don't know either cultur like does that kind of cover most of the basics was there anything that you think that I missed I think that covers pretty much everything uh I would basically just have to use that some of the software the the receipt one called again you and
(3:21:23) you don't even necessarily need that so like the one that I use is called Hub do but again yeah like I said but it definitely like going over uh what you said it does it definitely seems like a very useful tool save you a lot of time in managing your receipts your book key yeah but like if you use QuickBooks right now look into what options they have like I I'm pretty sure they have an option to upload and manage receipts I don't know if it's as robust they do yeah do yeah it could do it could do the same thing so look into that
(3:21:57) first they even have a tracker for your mileage if you really want to get technical there you go so every time I get in my car I'm always doing something for work so I just turn it on yeah that's the that's the advantage of having a business you expense everything that is absolutely everything that's a that's reasonable R reduce that tax burden exact exactly but that's the good thing about QuickBooks you could turn on the mileage thing you could upload your your receipt then you put it in whatever category I don't I haven't gone into
(3:22:32) depth if it's by store it could be but I can't remember now um because those receipts fade so if you don't upload them if you're doing any sort of RA um you need to upload them yeah thermal receipts thermal receipts are are pretty bad for that yeah if if anything happens and they're asking for a ra receipt like what happened to me I thought I had them and they hadn't faded yet because I don't know what would have happen if I didn't so upload all your receipts yeah I think I think I asked this question already um we going to ask
(3:23:12) again at what point do you think to have a a personal um bookkeeper separately apart from great books so again that I what what Revenue point I don't think it has to do with Revenue necessarily it's based on your own personal ability schedule and how much you well yeah that and like how much you personally valuable like value your individual time at right so like if you enjoy bookkeeping and it's not daunting to you and you have the spare time to do it by all means do it as long as as long as you possibly can if it's something
(3:23:52) that you absolutely hate doing like me you probably if you're like me and you hate doing something you probably will procrastinate doing it so it's not healthy for the business so you probably want to Outsource it sooner rather than later um but also like it depends on what you value your personal time at right so like if you right now in your Amazon business or whatever if you have another job whatever if you are able to actively produce a profit of $50 per hour that means that you're you should probably value your time at about $50
(3:24:24) per hour okay so if you can reasonably Outsource something for less than $50 per hour it would make sense for you to do so right and that's like thinking like higher level business productivity and that's something that I've personally been implementing in my own life like the past year or two because like time is so limited so almost anything that I find if I don't personally find joy in doing it if I can reasonably Outsource it to somebody else and it's cost less than what I value my personal time at I will almost
(3:25:03) always do it but caveat to that as a small business owner the only person at the helm the person that uh is solely responsible for the exess the success of your business I personally believe that you should understand all major processes like we kind of discussed in I'm not sure what chat it was I'm not sure if we discussed it privately I might have just have that conversation with somebody else privately I'm not 100% sure but uh I believe you should personally at least understand the processes and how to do them yourself if need be even if you
(3:25:44) don't like doing it because in the event something ever does happen then you have the ability to continue on without relying on somebody else you're not going to be able to sustain yourself long term with having to do everything yourself I believe it's important that you at least have an understanding on how to do it so that in the event you have to you can okay so for instance in in the reality like me for a person that really does not understand um much about it is best to have someone teach me yeah I would definitely recommend
(3:26:23) that you take some time and learn and understand it because it is a very key part of your business like doing proper bookkeeping is going to establish your financials and tell you like where you are at with a like profit-wise in your company and where you're going and if you don't know your numbers in your company that is very scary because you do not actually know if if you're actually profitable and if you are increasing uh your profitability or if you're basically working for minimum wage right so it's very important that you understand your
(3:26:56) numbers and it's understand it's very important that you understand how to get there and yeah like you can look up videos on YouTube for free and it's it sounds like it like bookkeeping it sounds like it's super complicated and daunting it's not that complicated once you just figure it out all it is at the at its core is you have one side so like here here I'm on my screen here this side here is all bank statement or credit card statement so this is all from your your bank statement here are all your trans or how
(3:27:35) would we how would I visualize this so we have our bank statement all our transactions over here then we have all of our invoices receipts over here and we're just matching these up right so this invoice is for $500 from Costco this is the corresponding bank statement and then I'm ensuring that uh I'm indicating in the software that this was an inventory purchase so I know it's for cost of goods and I'm applying the proper GST HST taxes I paid on on it and then I'm checking it off it goes green that that statement goes away and then
(3:28:21) moving on to the next one just matching them up at its core that's really all it is it's not that complicated the most complicated stuff is just like figuring out how the system works and if you do make a mistake which you will um the more complicated thing is just figuring out what mistake you made and trying to find it okay definitely because as I think I said before the only thing I do is um have an Excel file and when I do make a purchase I ensure that I write it down like okay Monday I bought something for
(3:29:03) $500 okay this is what I buy for Monday and I have everything that I purchase from the first of the month to the end of the month but I I'm not sure I am tracking correct corly in terms of um the revenue I'm generating for the month because typically I'm buying stuff for no no but it's actually selling in the following month coming yeah so like doing uh like bookkeeping like historically it was done very differently because we didn't have computers and software so like people used to have like handwritten letters where they basically had
(3:29:42) sections just like this where they would look at a bank statement they would in put how much that bank statement transaction was they would manually write it in there they would match up the receipt put the uh the receipt number Etc in there and then they would just all be handwritten so doing something like an Excel format like that is probably like very close to low-level bookkeeping but you're probably just missing some things right um like you're probably you may or may not be importing your Amazon transactions which is your
(3:30:12) actual Revenue um you you could do that too like with your with your spreadsheet where You' basically it's been a long time since I've done like a manual thing but you'd have your credits your debits and then you'd have like your additional things for like revenue and whatnot and you put that in your other accounts and you have like your your separate accounts for like your inventory your supplies rent Bank charges Etc um I'm not sure exactly what would be the best way to build this it's been a very long time since I
(3:30:56) had to do this manually so I'd have to think about it but yeah you can technically do bookkeeping directly in Excel it's just not as efficient as using a software I really have to think about putting that together but I'm I'm assuming you can probably find like a template online um giving you like an entire template to do actual full bookkeeping via Excel you probably could do that it's just your account may not like you very much if it's not organized yeah I'd really have to think I'd really have to think to see how that
(3:31:37) would be done properly I don't I'd have to think about that I think I'm going to learn but at the same time I'm going to get someone to help me cuz I don't yeah and like that's completely Fair like so when I first learned how to do bookkeeping uh it was with my parents' business I spent an afternoon with their accountant at that time and she taught me how to do standard bookkeeping so whether you talk to an accountant a bookkeeper Etc most of them unless you know them personally will probably obviously want to be paid for their time
(3:32:13) but uh yeah they could definitely personally teach you for sure but yeah like the accounting portion bookkeeping stuff that is something that I understand how to do I have definitely done a lot of it myself I've made a lot of mistakes and had to correct them myself uh but it is something that I do not personally enjoy whatsoever it's something that just to me it feels Soul sucky and it's very boring so I just do not like doing it so that was like one of the very first things I outsourced CU otherwise it just
(3:32:53) would never get done I would certainly procrastinate on it some people enjoy it like you talk to Carmela the CPA in the server she she likes doing that stuff and that's why she's a CPA I do not fully understand but I'm maybe because as I said I don't really understand it that aspect whatsoever so maybe I'm overthinking it yeah like I I don't personally know of any super great videos that give you a intro of how to do bookkeeping but I'm sure there are probably some for free on YouTube that give you a really decent
(3:33:41) walkth through and like it's it's not that complicated once you have the stuff in front of you and you start doing it it looks it looks extremely complicated but once you start doing it it's not that bad maybe that's another potential stream you know uh get Carmela to do a quick bookkeeping session yeah I have that full intention so um I have I've talked to her of uh wanting to put together like an entire bookkeeping process it's just a matter of her and I having corresponding time to do so but yes I've definitely recommended that to
(3:34:21) her for sure because I think that could be super helpful and I would not be the person that would be able to do that properly because I hate it hey Jordan hey hey everyone U thanks for tonight okay um Peace and out all righty Ron have yourself a good night yeah you definitely don't need one from me uh Aman definitely definitely not that's not my thing I'm sure I could probably do it if needed but I would not be happy about it I'm just messing around I'm just messing around yeah no it would definitely not be for
(3:35:10) me anything like do business-wise really much so enjoy accounting bookkeeping that's like the one thing though not for me curious where did you learn uh processes and systems is it something you just picked up uh from your day-to-day Amazon or is it something you learned from mentor or a B it's just something from straight TR and error and the necessity of having to do it myself um never came from like a a personal background like so like like Dan uh he's like the moderator one of the moderators in our free server and he's in here as
(3:35:52) well uh he's super process oriented because he was uh some type of engineer and so he was taught that in school so he has some mad processes in place I don't have anything like that so it's just all just built on necessity and just wanting to be more efficient and then just trial and error so like even with like spreadsheets like don't come from a wealthy family don't come from an intelligent family most my family very much so degenerates uh quote unquote I guess would childhood would be kind of ghetto um spreadsheets would never be something
(3:36:33) that I would ever expect that I would understand how to use but I've just found them useful so I just over time just taught myself how to use them and then if I don't understand how to do something like build a super complex formula I would either when I first built the spreadsheet I hired somebody to help build out a lot of the very complex formulas and then once uh chat GPT became a thing learned how to utilize chat GPT to help build very complex formulas also this product tracker was order tracker was completely Your Design
(3:37:13) yes 100% uh that's pretty cool yeah like I think again like it goes through iterations right so I don't know if we had the original one it looked the same but like it looked kind of like hard on the eyes I don't know if we still have that one and again it's just like things that it's just improving over time right like if you came into this server when we very first started it look like very different than what it is today but you just do it and start improving over time so like I think this was yeah this was the first
(3:37:48) iteration of the order tracker very bad colors um very different dashboard with a lot less information not as many sheets very very bad on the eyes and then just added more things and improved it over time right and like this was a like I definitely like when I first started doing this stuff I I just had like a regular thing like this myself where I just have like my titles and then my information under underneath and you start adding more information and you start adding things that add more functionality and just slowly start
(3:38:26) building it out over time then you get to something like this and then you get to something like the like this and then you're you start adding in like automation like with the script and stuff and yeah it's just building things and improving over time that's bad on the ice but yeah I think probably right right away here we'll probably be wrapping up soon so any other questions comments concerns before we do no then for me just wanted to say it was a great session it was really helpful appreciate it Jordan excellent good to hear
(3:39:16) and yeah like I'm I'm never certain so like with what we do because not everybody always leaves feedback some people just kind of creep in the server and I've never even talked to them once and they they never say anything or anything so I don't know if they're finding value in it so if you do and there are things that you actually use or you appreciate uh or you want more of let me know so that uh that can help shape what we're doing going forward I just question oh go ahead Evan go ahead yeah so I know um a while ago on
(3:39:53) your YouTube channel you had um a source with me a video which was really helpful but I just wondered if um you have any intention of um creating an updated one now that that uh now that Amazon is listing the number of units sold per month just um so that there's a I guess a more updated process or do you think the one that you have on there would still be fine I think process wise it would be very similar So like um whenever I post a video I never watch it back myself um I just I I don't like watching what I what I produce but uh I
(3:40:34) would assume that the process is going to be very much the same there may have been like little things that I have personally tweaked in our process since then but just because like that one uh specific stat everything else would be the same except for that probably be like the very first thing I would look for just to get an idea of volume but besides like that the actual whole process would be more or less tical okay perfect thanks definitely what were you gonna say Melanie I was just yeah I was just GNA ask there's one of these flips in here
(3:41:08) oh this what I wanted to ask you the fza flips what's that about so that I don't know if I'm saying it prop let me pull up let me pull up the Discord here I'll easier to screen share hold on one second okay I'll pull this over can you see my screen with Discord on it yeah yep cool so most things if you ever have questions about the server most things it's been about a a couple months since I've updated it and we've definitely added some things since uh but majority of stuff is covered in the server guide and it is all in the same order that the
(3:42:02) server is in and most okay most of this does explain what the individual channels or categories are or what they're for um but if you're ever unsure always definitely feel free to ask um so like with the flips channels there's a couple different things going on in there uh but primarily the information that we have coming in here is primarily from outside providers so like we have we have a channel for Scythe flips so Scythe is one of our lead providers uh Frieza flips Frieza is a lead provider it's just coming in
(3:42:36) through a different way so like Scythe posts all uh their things manually for for potential leads whereas uh Frieza has things coming in Via a bot so that's why they're posted just is that mostly the states right Frieza most of the most like all the flips like the individual flip channels they are they are vetted for the US specifically right so like even when Scythe post stuff in like the drop channels it's basically all us information like he just posted this one here for tomorrow for like this Hot Wheels this is all us information if
(3:43:12) things are viable for Canada I will you'll see that I always go in there and make additional comments about like Canadian cost what our expected profit is those types of things right okay so yeah like um I definitely wouldn't be able to do everything that we have in here if it was just me there's there's way too there's way too much yeah um so like I do hire like a lot of providers or staff members to help provide this information uh but with that is most of them are us-based I haven't found any that are specifically
(3:43:49) Canadian based and we don't have the resources yet to specifically hire somebody to train to do this inh housee so for now we have the outside stuff coming through and then we just adjust it for the Canadian Market yeah there's so much but yeah like you'll see like a lot of stuff from like these channels like Frieza flips for example I will end up reposting in the flips alert channel and I will always link where it came from so like for example uh where was one of the most recent ones Frieza hasn't been posting that
(3:44:39) much good stuff recently I suppose but uh no cuz I saw something good and I'm like I I can't remember what it was now well like for example like this one this one was posted by Scythe but it looked the same way so like I I copy their text I indicate where it's from so just so you know for reference their information is up here and then because I looked at this and I determined that this is probably viable for Canada I add in my Spiel beneath that with the Canadian info oh yeah but yeah like I definitely would
(3:45:21) not be able to find all these product leads from places like these people do as as much as this I would be super tapped out if I did all this myself I was gonna say I was gonna say yeah you already probably don't sleep uh some days and the cash out monitor so that guy I'm going to be working on providing more info directly in the channels because like for example just to sidestep your uh cash monitor for a second if we look in like say one of the sports betting channels it'll have some information it'll have some some information at the top of the
(3:46:02) channel right now it just says questions about sports betting post them in sports betting Channel but we'll also have a a Spiel in here about what this channel is specifically for so you'll be you'll be able to see very easily it just takes a long time to put this stuff together uh but the cash out monitor this is a bot that is monitoring a cash out company so if you look in is that like a buying group yes no yeah okay so this one's uh specifically right now it's only monitoring the buying group from the US
(3:46:35) we are going to be adding more in here and so whenever they post uh potential cash outs or deals it'll also be posted in here so the the way Cash Out groups work is they post deals uh and they give people the opportunity to buy them either for a commission or just to Simply earn things like cash back and credit card reward points so like all the all these are products that they post every single day it shows you if there's a commission or not a lot of products do not have commissions but every now and again some will and those
(3:47:09) are typically the ones that we bring to everybody's attention because they're they're very worth it whereas with stuff like this you still you can still make money with them but you're just getting like cash back on the websites and credit card points and so you would buy it you you send it directly to them they would they would give you the exact same price back as soon as they receive it so you're out nothing and then you gain credit card points and cash back uh yeah yeah so yeah like literally like if you
(3:47:41) have extra funds and you have some time you could literally just go through stuff like this and earn money just for shopping or cash back and credit card points that's cool too though yeah but yeah like so like their server is right here so every now and again they'll post stuff that act like this is a one-cent commission but every now and again they'll have stuff that's like a buy cost of like 30 bucks and it'll have $10 commission it's like yeah those those are super solid and especially if you can get many units you can actually make
(3:48:16) a pretty decent amount relatively easily that's why I was confused I knew it was a buying group but I didn't quite understand how it worked yeah any other server questions no there's just so much which I'm not complaining about I know and like I know it can get overwhelming but it's like trying to find a mix of like wanting to provide all the stuff that's in here with yeah of course not trying to overwhelm somebody and make them run away yeah like the sports betting is good but for me I like football so when the football season comes I'd be more
(3:49:11) interested in it even though focus groups I want to do some of them I just don't have the time yeah this this is going to be my problem I got to I got to decide when to delegate and we talked about this and when you know yeah but like not just because stuff is offered in here doesn't mean you need to actually use it no I know but some sometimes yeah you can't do everything I'm only one person 100% like these things are just in here these things are just in here in case you want to right yeah and like yeah like but we have we
(3:49:48) have some members that like when they start in here they have relatively limited funds and they don't know where to start and they don't know how to raise funds that's kind of like that's kind of like the main purpose of having things like focus groups and webinars because like it's they probably have more no it's a good way to make extra money for sure yeah and especially if you have uh extra time which most people that have less money tend to have extra time not always but usually uh then then you can spend time with do stuff like
(3:50:16) that and like literally just make money in your spare time or if you just by H by chance have some spare time like kale he does focus groups all the time that's why he posts them and yeah he makes a decent amount of money doing them yeah no like he says you know you have your coffee in the morning or whatever and you apply to a couple of them and if you get called you get called I almost got called for one but they were they were so strict they're like oh you need a LinkedIn profile I go I haven't updated my
(3:50:47) profile so I can't say what I doesn't say on what I do but I was that close to it was like a $400 US bu oh that would have been nice yeah but I was close that would have been really nice but now I I feel like I'm getting busier with the being out of jail and stuff yeah for sure I got to I I got to try to scale I'm trying to scale past the 20 20,000 a month now I hit hit 10,000 last month and this month it looks like I'm going to hit 18 oh so I need to yeah I need to make a move good is that uh would that be your
(3:51:30) personal best yeah oh very nice yeah yeah so I wanted my goal this month was 15 and it looks like I'll hit 18 um so next month I don't know 20 25 nice it's like all coming to Q4 like it's just around the corner crazy you think about it 100% And yeah like so I think some people like also have unrealistic expectations about like the types of things that I do so if I was the only person in my Amazon business I would not be able to like do things like this but because of course not because I have because I have employees and
(3:52:20) processes in place and more so things can almost run on their own that's why I'm able to spend time on projects like this yeah 100% oh there's no way there's there's not enough hours in the day for everything that you like it's ridiculous no I'm just one person doing my little Amazon business and then I think about you when I see you online at like in the morning doing your thing uh yeah it's why it's impossible you said that you turn off everything other than Amazon that that's that's fair but there are a couple things I
(3:52:58) would recommend that you not necessarily turn off just in case because like some things are like too good to pass up on um yeah so specifically drops and reminders don't necessarily have to look into everything but just pay attention to what's happening the important section and probably the miscellaneous cash outs so like so like say for example that's with the drivers stuff right yeah yeah so like for example with this guy like coming up tomorrow for this Peaks slaughtery this is something I would probably encourage that you enter
(3:53:37) because like these are just like handmade Collectibles that basically have no risk and it's it's a lottery system so you're not guaranteed to win but if you do win these will easily sell for probably like two 3x what you what you have right if you're absolutely not interested in drops completely Fair um but like things like sometimes we have some major deals or Price errors right so like when we had the uh the air compressors that were deeply discounted that's a a very hard deal to pass up on because you could
(3:54:10) easily make money some those locally eBay or even back on Amazon and uh like a Christmas present yeah or like Christmas 100% or like like all these uh blink and ring doorbell stuff yesterday A lot of these are pretty easy to make money on again if you have limited Capital 100% get it but sometimes it's just very good deals and then for the miscellaneous cash outs every single week uh we have a guy who is a Scotty Cameron Gallery putter purchaser so these Putters are released every single Wednesday at I think it's
(3:54:54) 11:30 uh EST all you have to do is enter in these Raffles and if you win them it's it's a very low chance you will it's a very low chance you will but if you do ever win them you literally just have to send them to him and he pays you retail plus the listed price here and that's in USD so if you win one of these clubs and you send it to him he will pay you the retail price plus $3,500 American and he pays you the same day you get it and he is vetted he's not a scammer iure that uh we only have legit people in here so it's literally
(3:55:33) just a nice payday if you ever do win chances are low you ever will but if you do takes 30 seconds and it's well worth it yeah cuz once you set up your account you just hit enter enter enter enter and you're done yeah it takes like 10 20 seconds entering all of them every week yeah and if you do and if you do win it could be very profitable and like quite often Scythe will post um uh cash outs for like handmade keyboards or keycap Raffles those are those are absolutely no risk too you have to enter in you have to uh
(3:56:07) potentially win it's not guaranteed but if you do they can be pretty decent payouts like there was a key cap raffle I think last week let's just see here yeah so these guys so it says uh what the pric is going to cost that would be in USD and what they would cash you out so it says zero risk because if you win one of these you send it directly to them uh you pay $200 for the product they pay you $500 US and they do this because uh they either have marketplaces that they're able to sell these for a profit they're collectors things like that and
(3:56:46) so these are just very limited things that are hard to get and that's why they do it so assuming you're around in the server and you have a few spare seconds when these things pop up I would highly encourage you to take advantage of them because if you ever do uh if you ever do win it's a very nice free Pay Day for sure I like to win that club one day that'd be very nice uh hey it's it's like what's the what's the expression you don't you miss the shots oh no how does it go you miss the shots you don't take you miss 100
(3:57:36) 100% of the shots you never take absolutely no I'm convinced I'm definitely gonna open up some of these channels yeah you got you gota at least try absolutely literally 30 seconds to answer some of these exactly yeah high five will be the first to win but yeah like you definitely like I would not encourage you to spend all your time looking through everything because there's a lot of in here that probably doesn't interest you but there's some stuff that is very very viable and then like if you ever do if you ever do want to take advantage of
(3:58:14) some like the the flips or drops that are happening like most of them if you don't want to 100% get it there are some things that are just extremely profitable like if Taylor Swift um ever drops uh her signed CDs again like she randomly has oh God she randomly has restocked these multiple times and they literally cost I think what $15 US and signed Taylor Swift CD what are they selling for now things like that are basically free money right so like these on eBay right now has over 7,000 sold so it sells volume and that's in the last 90 days
(3:58:55) selling for a 100 bucks uh 100 bucks I don't think there's anyone more popular than her right now no she's definitely the most popular ridiculous but yeah like um we have Auto checkout providers so they will use boding software and auto check out these products for you because some of these like the Taylor Swift CS you're not going to be able to get them manually it be impossible Bots take them over and EO Apple whatever what's thato is that the AO form or whatever yeah ACO Auto checkout oh check okay so Q Montreal he's a
(3:59:43) specific provider that does provide free auto checkout for any drop that he supports we do have other Auto checkout providers that will charge a fee for it if they successfully uh get those products for you but anything that Q monreal can support you can submit uh forms for and if he gets them for you it's completely it's completely free he doesn't charge you anything and he's gotten multiple he's gotten multiple prodcts for me when we had a massive um Mattel drop I think it was like a month or two AG go there was
(4:00:15) a massive restock of all these profitable products that were coming right and so he got me I think it was four of the what were collector Jack and Sally dolls and so these sell for $260 $300 each I think they cost $120 and he got me I think it was three or four of the RLC 2023 main line set these don't sell a lot of volume but they sell for a lot of money and basically as soon as they come in stock they sell out so these these costed a good chunk of change like these uh I think the retail of them was 600 us uh so what would that be what would
(4:01:12) that be in profit 600 so 600 600 us so yeah I I'll probably sell them for about 1,200 so minus eBay fees minus the exchange so these ones are not massively profitable but they'll probably profit about $200 and something dollars each still great and I literally just submitted the form for him I went to bed and I woke up and I had the emails that I got him that's amazing yeah it's pretty cool yeah he has one up here quite a bit for the Taylor Swift CDs so if and when they ever do restock then uh you can get them yeah how often do you do these um
(4:02:04) as well for which like the um these sessions uh it all depends so I like to try to do it at least once per month uh it doesn't always happen depending on schedules um but yeah I like to and again in the future I would like to do it more often but uh we do have a a call with chokey the ticket provider once per month those are always very valuable if you wanted to get into ticket selling he's very experienced has a lot of good insights and then we'll typically do some type of learning session or general Q&A something and he gets very excited
(4:02:44) each F he gets very excited he loves it he loves what he does he's very in tickets yeah very passionate I see yeah yeah his lisp always always makes me laugh when do those usually happen uh those are random just based on his schedule uh so the last one when was the last one uh let me look in the GI book when we put it up here I don't think I was on the last one what was the last one um Melanie I had a question for you if that's okay yeah sure um I'm wondering um when did you start with Amazon FBA if you don't
(4:03:30) mind um I started last year oh okay that's that's nice and like around like when did you start seeing your first like or 10K month like did it take you a year to get to that point well I had a little setback and I got shut down for a couple months but um once I once I started going again you just have to it's spend money to make money and as long as you you know you practice your sourcing and you have good products I would just say like I started with books like Jordan I started with books because I didn't have the capital
(4:04:13) and then um little by little it grew and grew and grew and then I got shut down and then as soon as they let me back in I hit 10 10K and now this month is 18K yeah M Mel's only been back in it for a couple months okay that's crazy that's nice oh congrats yeah when we talk like Capital so like sometimes you you guys may see somebody like Fred who it just looks like he just blew up massively I don't knowwhere that is very uh not normal most people don't take that kind of but he had money yes so he had he had money right Jordan
(4:04:52) yes he had a lot of capital behind him he put a lot of money into it yeah so like he look if I had lost the capital I could blow up like that too but I don't it's got you gota you got to do what you could afford to do right right and so like with somebody like Fred um he started proof a concept seeing that it worked and then I believe from what he mentioned he immediately put like I think like 60 or 100 Grand into inventory so yeah like if you're making good purchasing decisions you're going to see a huge increase in sales when you
(4:05:23) put that much money into it most people are not able to do that uh myself myself included so when I started back in 2018 I started with $1,000 I spent $300 on a PC so it was 700 bucks and I grinded books and that's how that's how I built my Capital books and use video games damnn so he went ball to the wall yes yes he [Music] did that's not normal for I don't know I think going wider is better than going deeper in in the Canadian Market at least I totally with that too honestly but see that's the thing there's too many Fred Fred does do that
(4:06:06) though but he just buys a lot like a lot of different as I know I seen them Jordan I've seen them he's on some of mine I'm sure I came I like I like the way he plays he doesn't play dirty I can tell you that y yeah but I would definitely go I for me I I I go wider and deeper and I suppose you didn't take out any profits right no I just re well I do take out a little bit to pay my mortgage I'll be honest um because the travel business right now is a little slow but besides that I just I just keep putting it in putting it in putting it in putting it
(4:06:55) in I mean if you're still growing at a good Pace like as you are currently I think that's still great honestly thank you with the help of Jordan of course yeah honestly like I'm very grateful to be here I'm just happy to be here at at this point I think you were asking about the bags before weren't you uh yes that was me yeah and then I think um all all three of you guys actually answered so thank you guys of course whatever I can do to help that I know the answer to of course but the poly bags that the Spartan the
(4:07:34) Spartan ones are good because they sell I don't know how much you're doing right but they have the option of buying thousands at a time and they're a little bit less than the ones Jordan buys a little bit um but they're good they're a little staticky but they're still good yeah I love supplies you have to get them and bring them over the border from the US so they make more sense when you're able to buy more um so yeah like I would I would just stay clear Uline I used to use their bags and they got worse over time but their cling strip I
(4:08:10) heard they're awful their cling strips are horrible like they will stick to everything but like when when we stopped using them the adhesive basically went to it just was did not work at all so yeah I I switched I love supplies um I really like the guy that owns the company very very nice honest guy actually part of the community um so yeah that's why I buy them from him he used to be an Amazon Seller and he now sells poly bags fulltime that's amazing though there's not a lot of there's not a lot of good bags out there like that you
(4:08:52) mailer or a mailer I don't know they're awful I tried those those are awful smart Wiz is good he they make a good bag but if you want bulk I would I would say Spartan but yeah um that's exactly why he started it because when he was in Amazon Seller he's like these bags are that's why he tried yeah finding new ones and then that's where he transition but it's funny um we have two guys in the server their brothers uh Mike and Richard uh Mike is potentially he has previously private labeled poags he may potentially be trying to
(4:09:34) make a competitor for ILS so we'll see oh he said he might he might want to try and do like the UPC blocking bags that they have those are what those the ones you get Jordan the the blocking ones so I get both the UPC blocking ones do cost more so we only use them on like products that make more sense to do so so like um if it if we're putting like say a shampoo in a poly bag and we we have we have the proper size poly bag it doesn't have to be taped to not exposed to bar code those just go in regular bags if it's something that's like a a
(4:10:12) massive bundle that like you'd have to like tape it and like to ensure that no barcos get exposed all those go in the UPC blocking bags it's just about saving time I was just going to say that's exactly what it's about yeah because I cover the labels on everything and that takes time and it takes time I got everything pre-cut I got a well oiled machine over here when I get going I'd be interested to see because I see your setup if you saw my setup you'd be like holy smokes how do you get anything in and out of there well I'll
(4:10:51) start somewhere I used to uh bring prodcts into my condo and uh I live on the fourth floor we have an elevator but at the I park at the back of the condo so uh especially in winter time if I didn't want to try and bring it around the front because it's cold and snowy whatever I'd try to bring stuff through the back door and I'd have it in like a plastic tub on a Wheeler and we have steps coming into the uh from the back door right so I put it in the tub on the wheeler trying to pull this up the stairs and uh there was one time where
(4:11:26) it was just overloaded too much and it had some stuff on there and like the ended up oh my God falling over and one thing was like a bag of some type of uh it was like some type of some type of powder stuff and it busted open I was like oh that's awful that's my coners thinks I'm getting married yeah he goes you're getting married right I go why would you say that he goes well you're getting so many packages I go no no no no he goes you get the most packages between all the buildings I'm like okay thank you keep
(4:12:05) them coming you leave in fun of me you live in a fancy building you have a concierge yeah I don't have that sometimes they'll just leave the packages down and I got to go grab them they don't even tell me just I go downam with my little granny buggy and I pick up as many as I can and then I go back yeah thank God for for that guy actually now I got to make funs with the up I started in like very similar situation so I bring the up here pack it bring it back downstairs uh take it to UPS so I mean yeah everybody has
(4:12:46) to start somewhere yeah I'm on the same stage right now and I feel like it does build character right you have to start somewhere I was literally pack what's that Aon I said I was literally uh packing in the background all supplies and everything that's good multitask 100% no you do have to start somewhere look I got enough products in and out of here to make that this month so we'll see what next next month brings those air things help though that was an extra that probably put me over so I will take my commission check
(4:13:33) thank you yeah basically paid for my membership for the year I know so it's like free right I know a lot of things in here if a lot of things in here can do just that um exactly were you in here when we had those uh High smile e2a flips no so these things I'll see if I can find them here this was an error from the brand I remember hearing about this so he was here so our a2a monitor picked up a potential a2a lead the keep graph is OB updated now but so these things were selling for $10 and they normally sell for like 30 to 40 and so let's take
(4:14:31) a look at these guys look they're at 49.99 now and so we see here that it temp early dipped to $10 okay and if we look at the history history always is at like minimum 33 normally like 44 and they dipped they dipped here to $10 and it was the brand that was selling it so it was a third party seller but it was the actual brand it was high smile themselves and I looked into it quite extensively because I wanted to gather like what the happened and I'm pretty sure they made they made a mistake because on their website they had this same product but
(4:15:13) not a pack of 28 they had a pack of I think 14 that they were selling for $10 on their site directly so I'm pretty sure they mispriced this one because this is a bigger pack right yeah and so I shared it as like it's basically risk-free because there were free returns for Amazon uh which there isn't always with health and beauty products and it was like extended for period of 60 days so I was like everybody should buy these and only a couple people did and yeah they made there was the one guy that was on here that bought a bunch
(4:15:46) didn't he buy like a lot well yeah KB he bought a bunch and I asked him how it went he's like really good he sold out of them almost immediately he's like I probably profited like a thousand bucks I'm like yeah I know yeah that was crazy and they were in stock like the thing is they were in stock for like two weeks at that price and and that's nice in that time they sold through I think like 700 units at $10 so I was like thinking about like before I posted I was like I could just buy all these there was no limits on them I was like I can buy all
(4:16:20) I can buy all 700 make bank I was like I have I have obligations I guess yeah that was crazy where were they here so this was just a flip from CA to.com no CA to ca back back back to the same listing so yeah $10 this was was March 12th so where was the stock of March 12th March 12th 742 and so if I bought them all for $10 it looks like on average they probably got sold for about $33 after that $13 $3 profit per unit I could have bought all S I could have bought all 740 and made almost 10 oh my God that's crazy and it's
(4:17:20) still they still sell 400 a month so would took me two months to sell three them not bad making Grand a month what's that aan there wasn't any limits as well no there was no there was no limit just however much inventory they had which was 700 units damn that was a good one so yeah there's there's a lot of very profitable very effective tools we have in here if you're willing to willing to use them there was uh that us lead that I posted last week this Rubbermaid one this is insane they sell over a thousand units
(4:18:03) per month and they're $25 us profit per per unit and it was Amazon to Amazon us to us they're back my sister-in-law uses those those are so expensive they're back at regular price now so you could have bought them for 65 and sold them for 130 and and they sell consistently 2,000 2,000 plus per month so if you do the math right now they're at over 4K but say even if they did a th and say you came on the listing and you were the only other FBA seller they have previously shared the Buy box of their FBA seller so's no doubt in my mind that
(4:18:45) they would it's just been uh nobody's carried stock and when the seller was on here they sold through pretty pretty quickly so if you came out here the only other FBA seller in theory you get to buy box say about 50% of the time but say We'll reduce that down to 30 and say you bought I don't know a th units because you could sell those in a month times 25 $25,000 us per [Laughter] that's crazy and this was a do okay yeah this is doom.
(4:19:24) com so we buy them send them to a prep Center have them prep them send them back but even even if you pay the prep Center thousand doll in fees prep them s them back 24 Grand literally just could just buy them and then just figure out the whole prep center right after Jord why didn't you jump all over that did you yes no I wouldn't tell you I wouldn't tell you if I did I know but I know just like for transparency like anything that I post you'll never find me on anything that I post I think it's a conflict of interest I would but it's just a
(4:20:02) conflict not looking for you anyway and yeah you'll try and find me so I'm not looking for you I don't really look for anyone to I don't I don't really care to to be very honest it's just a matter of like you do see common people pop up on listings all the time and you wonder that Robert is that blah blah blah is that you know but see like it's funny because if you really look you'll probably find a seller from Saskatoon that is on a lot of listings um right I've had a couple people ask me because before I told him
(4:20:41) to change his name they're like oh are you related to this person cuz it's the same last name it's my dad oh right I forgot your dad sounds on there too yeah so like I had a couple people ask me like are you related to to Alan Mets and I'm like that's my dad I'm like why they they found a storefront so I like change your name on your storefront so people stop finding [Laughter] you but yeah like my dad my dad he actually does quite well he's what 66 I would say he's technologically challenged he barely knows how to use a
(4:21:19) computer um I was talking to him I don't think it was yesterday the day before because he uses like the same order track that I do I do just his own sheet and he he messes it up all the time because he doesn't know how to use it properly so he always calls me to help him fix it and he's like uh the one sheet is labeled Arbitrage so it's Arbitrage sheet so he's like my my online abatage sheet is not in the right in the right spot I'm like what the is abatage abrage like what what is abatage and like this dude has been
(4:21:52) selling on Amazon for like what it's been like five years he doesn't even know how to pronounce these things and uh he only exclusively sources off the one leads list of mine that he's a part of because he doesn't know how to Source he just opens the list and buys stuff and uh he he sells about 50 Grand a month it's amazing it's crazy that's funny 50 Grand a month he bar knows how to use a computer it's insane he's doing something right yeah well he just he's extremely consistent that's the big thing yeah he's very well I think that's
(4:22:32) the key to this he's very consist it's taken like quite a while to get up there but like considering that he barely knows how to use a computer has no debt in the business started with very little and that's what he's at now it's quite impressive that's that's really good that's what I would like to get to monthly gr so yeah I mean if you do ever come across that store you'll probably be pretty obvious and he buys a lot so he's always stocking new stuff you know an Aaron Mets you know an Aon potentially I don't know a whole lot
(4:23:16) of my family from that side so I could tell you for sure oh it's from Toronto anyway not related or could be I don't know you don't know yeah no but yeah um it's just some of these things that are in here it kind of baffles me every now and again of like how much potential some of these things could have and I don't think everybody realizes and I'm not just doing it just bias like I actually see this stuff I'm like that's crazy I can't wait till you come out with the Canada to us stuff those that's gonna be crazy yes those are looking
(4:24:03) very viable like the stuff that you posted all it's like nuts what's that even I said it's US to Canada right so no we have both so I'll I'll just like show you for example uh we're running in a test server so we're doing both CA to us and us to CA Oh doing both wow and yeah like those are the ones that were I post a video about yesterday is consistently pinging new results and yeah like those a2a Bots as far as I'm aware cross border do not exist in any capacity anywhere like there are people that do a2a flips um our Bots are
(4:24:46) proprietary so like these are our own so like if you do ever see a2a stuff elsewhere it's going to be different it's going to be format different than what we have um but as far as I know nobody has anything that exists to do crossborder stuff are are these a2a Bots they are they built off of keep data yes is we're considering like so JD he is is a full-time programmer he works for a very big company uh that's why he's helping me because like I can do like a lot of generic stuff with help chat GPT and some figuring but some things I
(4:25:25) cannot get to work so like I try to do like make the crossboard stuff work and I couldn't so that's why he's helping um but yeah like they are coming off of uh keepa data right now we may explore doing like custom access points so we can get data quicker than keep k but that'll be in the future oh boy that's that's a POS that would that's a possibility that we're exploring but yeah like there's so much stuff that's like being currently worked on or already in here and it's just kind of crazy the amount of stuff
(4:26:08) that what kind of potential everything has no it's noty hey man I don't want to take more of your time if you're going to end soon uh but I do have like another kind of question regards to uh Amazon what's up so what how would you how do you manage your cash so so go ahead oh sorry you cut off no no I was uh I had another comment but I forgot go ahead so that's actually something I've been working on quite extensively for probably a couple years at this point uh I have like built a relatively in-depth spreadsheet to help us manage cash flow
(4:26:54) and it's a tool that I use every week and it um I'm not going to show you the actual spreadsheet but I'm just going to open it up on my second screen here and explain it to you once it does like once I can make it understandable to other people and not just my own brain I will probably release it to everybody else but like to me like right now it just it seems like it's complicated so I don't think I could I don't think somebody else could probably use it effectively without a super indepth explanation but at its core it's
(4:27:31) tracking how much we have in our accounts so uh all the bank accounts any other uh regular accounts that we have how much balance we have in Amazon how much we're expecting to get paid out that week uh what the limits are in all of our cards lines of credit uh supplier uh terms all that kind of stuff what we currently owe for all those uh if there's any debts that are currently owed um and then factor in things like what kind of safety buffer we want uh what our bills are for that corresponding week the things that have
(4:28:09) to be paid and then it's basically adding up all the expenditures that we're expecting for that week plus our safety net so that I can still afford to pay everybody in case we go under just randomly one week and then um adds up all the funds that we have cash all the credit we have available uh and then does a calculation and then that tells me how much we can reasonably expect to spend this week and next week so for like credit for example do you base that off on your like your credit limits how much you normally spend what
(4:28:50) is that based off because like it's right now like for me I'm just doing it based on the cash that I get and my sales um and I try to uh kind of over exaggerate so I have more wiggle room in case uh you know run I spend too much on my credit cards so how how do you manage so you don't have to share if you don't want but do you mind me asking how much liquid cash you have generally on a weekly basis uh weekly I'd say I've had like 15 or 20K okay and how much are you actively spending on inventory every week right
(4:29:33) now probably like a third of that okay and total credit limit what kind of limits are you you working with across all credit cards I'd say I probably have probably 70k okay and over how many different cards or accesses to credit I have about the ones the ones I use for business I have uh four okay so third four cards and with your cards are you are you in tune with with the individual statement dates for those cards yeah okay and so are you one that ever Carri these balances or you consistently pay them off I I pay
(4:30:22) everything off okay and with that 15K buffer cash that you have does that include any type of safety net or buffer for yourself well yeah that's why I only third of it so um this is this is just for the business I have this is only money allocated for the business I do have talking about personal savings yeah that's separate no I don't I don't even know about your personal stuff um yeah are you is Amazon your fulltime thing or are you employed no you're employed yeah I'm full employed okay uh do you have any dependence no okay and so you're not
(4:31:01) relying on Amazon for an income no not at all okay and so if Amazon went bust tomorrow you wouldn't not be able to eat no no Okay cool so there's a reason I ask all these questions yeah no I understand and do you mind me asking how old you are I'm 30 Okay cool so in my opinion there's going to be a point you don't have to go this route but you probably will if you want to exceed past a certain Plateau where you're going to have to get some form of cash injection one way or another if you want to grow more rapidly you can certainly grow
(4:31:47) organically it's just it obviously like you see it takes a while to do so when you only have X amount of funds because realistically when you have say you have 15 grand total um it takes you say and say you can spend that all tomorrow it's going to take you multiple weeks to buy everything to prep it to send it to Amazon for them to receive it to get sold to get your money back return to you so you can still get a really good Roi on that but you say you spend 15 grand tomorrow you're probably not going to be realizing the actual money back in
(4:32:22) your account cash flow for probably a month and a half to two months down the road assuming everything sells very quickly and so that's that's assuming it all sells quickly so if it takes say everything takes a month to sell we're looking at say 3 weeks or so to get to Amazon month to sell and then probably a multiple weeks for that that to come back to you right so we're looking at like a two-month cycle time period so with the cash that you have right now so you have 15K in the bank how much value of inventory do you
(4:32:56) have uh cost wise cost wise probably like uh I'd have to look at it again by roughly like 8K okay and do you know what kind of inventory turn rate do you currently have but a month and a half okay so you're consistently selling through every one and a half months yeah just on average and what's your average margin on your inventory um I have to look again um but but it's about like say 30 percentage and that would be like net after everything uh yeah I think that's my average okay okay so let's do some math so right now you say you're spending
(4:33:47) about a third of your cash that you have per week so you're spending like I I I I should preface that I very inconsistent I haven't done it consistently so it's like on and off but I I'm a very I guess you could say uh pretty hesitant when it comes to I'm very careful when I move so uh yeah I I I overthink a little bit too much and I move pretty slowly but but now that I've seen the proof of concept that's where the reason why I'm asking is uh an effective way to scale us using credit leverage because um worst case you know
(4:34:23) worse comes to worse I still have a decent amount of savings that I can buffer in case I overspend and I don't get that back uh to pay off my bills right so like that's that's what we're going to come to but I just want to make sure that you can do it intelligently and avoid paying as much interest as possible Right so so you say sometimes you're inconsistent so like then on average if we're not doing weekly if you a realistic average per month not per week how much are you spending on inventory I I would say probably like 12
(4:34:59) 12 to 13k if I would spread it across okay okay so okay times 30% so right now in Amazon if you have $8,000 of inventory cost and your typical net margin is 30% that means you're currently expecting about $2,400 profit so you have about 10.4k sitting with Amazon right now is that correct yeah roughly I guess I'll have to double check but yeah sounds about right okay and what kind of seller balance do you have with Amazon right now in your seller wallet I'm not sure I would have to check that okay so like these are the things
(4:35:58) that I do every single week to calculate what we are expecting to spend with cash flow so I want to see exactly all the assets that we have like with cash what we have expected to come that week and um what our debts are all that kind of so with your account do you have daily payout ability or is it every two weeks no every two weeks and with your account um this is one thing that I'm actually inexperienced with because my both of my accounts have always had daily payouts um with your two week payout do you
(4:36:34) typically get all the funds dispersed to you or do they keep any Reserve balance I usually get all this first okay so 12 to 13k okay so right now with your current spend that you're doing you're about realizing about a 3600 to like probably $4,000 profit per month does that sound correct yeah probably a little bit lower than that but it sounds close enough so we'll say about maybe three grand yeah okay so like just looking at like where your funds are so this is kind of how how do I explain this when we're looking to scale we want
(4:37:40) consistent C cash flow coming in and we want consistent cash flow coming uh going back out so that we can keep on continuing the cycle as much as we can right so we can keep buying inventory we can keep sending it in we can keep getting money back replenish into our account and when we're first starting it's very hard to get that because especially if we like Max with all our funds so we start like $1,000 dollar we spend that we send it off to Amazon and we just have to sit there with for lack of better words our our Thum up our ass
(4:38:06) for like a month or two months and we can't do anything right till we get money back so is very frustrating when that happens but when we're looking to scale that's when we want to see we have consistent cash flow that consistent cycle coming through which it seems like with what you have right now if all those numbers are correct it seems like you are you have a probably a decent cash flow coming through for the amount of funds that you have that's good um when we talk about scaling so like I mentioned you probably if you do want to scale quicker
(4:38:40) than what you are now you do need some form of cash injection and it seems like unless you have an outside investor or you have access to a low interest loan uh like with most people your your best available line would probably be credit cards just like most most of the rest of us and you do have a decent chunk of capital available to use with credit cards um are you somebody like try and be as honest as possible have you ever carried balances with credit cards have you ever got in trouble no not at all I I always pay I always be on time
(4:39:21) Bal I don't I never care okay and what's the highest balance you've ever had on a card oh man um I guess I would go back uh probably had on a single card or across all cards for the say both okay both damn I'd probably say like about 20K okay and how did you feel when you had that high of balance I was fine with it cuz I had I had the cash and Reserve if needed cover it okay so I'm asking all these questions for a reason because everybody handles credit very differently right and it's not a blanket response for everybody yeah cuz the the
(4:40:09) the way I understand if if I wanted to well not just the way I understood scaling would be that at some point you would be I think well most people when they scale using credit or the either through balance transfer or the 0% interest or whatever it might be they tend to use it's it's essentially they're using a loan right they're using their credit cards as a loan uh and whether they have uh extended payment periods or if it's 90 days for 60 days for cards or they use like balance transfer whatever it might be they don't have the cash in
(4:40:50) reserve if they had to pay it off that much right so that's kind of where the cash flow question right and like the reason why I asked a lot of personal questions is because a lot of those things determine like how much risk you can actually take like if you had kids dependence to relied on this income it's going to be a lot of different answer for me than somebody that doesn't like you you're probably in a more ideal situation to take on more risk right and you can probably afford to take more risk uh you're not relying well I I I would put
(4:41:20) a little Wrinkle in this thing due to religious reasons I do not pay interest at all so okay that's why it's very important for me to pay it off and not acre even a scent of Interest that's a good religion to have yeah so the so that that's fine but so we just have to be very intelligent about it if we're leveraging credit cards so yes some people use ballot transfers some people will carry a balance but obviously that would be out of the question for you but like just for your own personal knowledge uh if we did ever look at
(4:41:54) carrying balance this isn't something I typically recommend but even if you could carry one we could look at it like this so if you if your average inventory term rate is one and a half months so that means that you're going to turn over your entire inventory about eight times per year and you want to ensure that that number is ACC and you're not lying to yourself and you can actually grab the stats from your Amazon account pump them into the calculator that we have in our resources and get a realistic number just to ensure you're
(4:42:20) not lying to yourself because some people have um yeah I mean I'm on my phone right now but it's definitely it's probably a little bit more than that so I'm giving a yeah Okay cool so not everybody is not everybody let's let's just put it at two months let's put at two months just to be on the safe side okay yeah because like not everybody uh a lot of people tend to think High of themselves more highly than than it was reasonable yeah a little too optimistic yeah you're right so if we do two months that means that you turn over six times
(4:42:49) per year okay and if your average return net is 30% we can get a realistic expectation of what you can profit and then just to say per chance if you were to carry interest which we're not going to but just for your own knowledge we can then add up how much interest you would expect to pay versus how much you're expecting to profit right because your average credit card is going to have a 19.
(4:43:15) 99% APR and that is that sounds super scary and it is an extremely high rate but that is a yearly rate so if you pull up like an APR calculator and this is just for personal knowledge and everybody else that's here obviously if you don't if you're not going to carry interest that's completely fine uh APR I'm loving this by the way thank you that's why we do it so yeah I'm loving it say we wanted to inject I don't know an additional 30 grand into our business because that's going to fairly increase our cash flow and not be unreasonable
(4:43:51) uh would this be a good calculator to use yes it's going to compound every month this is this a proper calculator I think so let's look at credit card I don't want to pay it off in any time frame hold on chat GPT much better if I had a credit card 30k balance what is my interest per year and month this is why we use tools so if we
(4:45:00) look at this specific scenario 30k balance with a 19.99% APR card our annual interest would be about $6,000 so that that's a hefty interest to pay but if we compare that to the potential profit you can make on that 30k we can turn $30,000 and we're going to be netting 30% every two months so that's assuming that we're we keep turning it every single two months and we're going to be compounding that money every time we reinvest it so now uh I start with 30k I get a return of 30% every two months compounding what will I have at
(4:45:55) the end of the year compounding interest is a very powerful thing especially the longer you do it the more intense it gets but we take a look here is that correct that can't be correct hold on compound interest calculator it might be interest rate compounded we are going for it's going to be could we do this no because hold on just trying to figure out the math here because we we would be doing every two
(4:47:00) months would this be right hold on I just want to make sure that this is calculated correctly it could be correct I just want to make sure it's correct this is this is much better Okay cool so if we had $30,000 and we had average expected Roi of 30% which compounds every two months so six times in a year what would my balance be at the end of the year so it be $4,250 this be hold on let me let me think let me think about this I want to make sure that this is correct that doesn't sound correct no we have $30,000 and then the next month we
(4:48:06) would have I'll be right back but yeah chat GPT gets the math yeah let me just add this up you don't do something right you do it yourself 30k so 30% one month now we'll go two months 30k times 30% so this be $39,000 four months $39,000 time 30% plus $39,000 now that first calculation was probably correct then so a and I see that you sent that link
(4:49:14) so with that first calculation of 100K be correct then plus ,700 I think it's the second one second one would be the one that you just uh if you go on the calculator you do 30 by monthly but our interest rate is not a annual rate of 30% because it's that that that is technically our interest rate every single month because that or every two months because that is the ROI that we're getting right so I'm pretty sure this would be the case because we invest 30k we get 30% back that means that we profit $9,000 so in two months yes you're right
(4:50:06) you're right so it would be the first one yes yes yeah so we turn 30k to 39,000 and then another two months it goes to 50,000 and another two months it goes to 65 so yeah I'm pretty sure we'll just finish this just because yeah you do it until 12 months yeah but yeah it's compounding every two months because we have an inventory return rate of two months so 65910 times 30% plus 65910 yes this is correct 85 683 time 30% plus 85 683 11 38 11 387 * 30% plus 111 387 so yeah that first calculation was
(4:51:12) correct Co chill are you here so yeah that first calculation we we'll wait till he gets back but that first calculation from chat GPT was correct so if you invested $30,000 if you were able to turn it every two months and get a Roi of 30% which may be high uh you would end the year at $144,000 and so an interest you would pay on that card what did we determine our interest was five grand six grand so $144,000 minus 6 grand that is a pretty decent Roi 144 minus $6,000 so yeah it's $138,000 profit not bad that's crazy that's how compounding interest
(4:52:05) works I made a post about this on Twitter a while ago and it showed that that would be a con consistent um 30% though right correct because not every month your um Roi will be at 30% for the whole 12 months correct Am I Wrong well it depends on the products that you're selling right so you do have to figure out your own personal averages so let's see if I can find the post that I posted on Twitter because it had a much more reasonable expectation so one second I don't know if how how I can find this easy uh uh where is it R while you're looking
(4:52:47) for that what's another credit card I should be applying for I have the MX gold the business AMX gold I know I asked you for personal but I think I need another business one you need another business one why does I want one all right I'm back okay so that first calculation remind me Melanie but cill that first calculation from chat gbt was actually correct so yeah 30k compounding every two months with 30% so two months would be 39 Grand you compound another 30% 50 Grand so it ends up being $144,000 at the end of the
(4:53:28) year so that is factoring a couple things so that's obviously factoring that you have a perfect 30% Roi every single two months so that's assuming you can turn that over every two months and you are getting exactly 30% % right so you probably won't have perfect conditions and if you do ever lack for a time period That's obviously going to impact it greatly um but this just shows what the actual potential is with leveraging more money and compounding that every single month right and so obviously if we took that and we just did a simple
(4:54:01) calculation minus the expected interest which you won't be paying the interest was like five grand so the ex or six grand sorry so the expected profit on that investment even utilizing a credit card would be $138,000 so although the the credit card has a very high interest rate if utilized and utilized properly those that do or can carry interest and assuming you can manage your finances properly it can be a very very effective tool in that sense um yeah I got you yeah so like in your specific case with the credit cards that
(4:54:49) you have do you have a variety of different statement dates or are they all like around the same time uh they're more or less couple of weeks here and there but they're pretty much around the time okay and so do you know how to like Leverage credit the most effective and have the most interest free days that you possibly can not really that's what I kind of need to look into I think the strategy is to stagger using the cards I believe that's uh one of the strategies to do it but uh no I'm I'm very unorganized and
(4:55:26) that's and that's fine so like do you understand how like Grace periods and statement dates work uh yeah I I do need to get that sword out on and uh track them so I can take advantage of essentially staggering is that what you're getting at right staggering credit cards using one uh statement date to disadvantage and then using the other one for inventory as well like basically staging your inventory purchase yes uh but it's also like understanding how the whole process works so like yeah yeah I I understand the process okay perfect so like just in
(4:56:06) case anybody here doesn't um when you have a credit card most credit cards uh have like a 21 or 28 day grace period right and so that grace period is interest free days that you don't pay interest after your statement date is issued so say your credit card has a statement date of the 15th of the month um and you because we're smart we decide that we're doing all our inventory purchasing because we're doing heavy purchasing and we're going to do all of our purchasing the day our statement comes out or or the next day so say we're going to do it
(4:56:41) on the 16th that means that our statement just came out on the 15th and we spent say 30 $30,000 we don't get our next statement till the 15th of the following month which is about 30 days then we have our grace period after that of 21 or 28 days interest free so you effectively have 50 to 55 days interest free that you can use that money for right and that's yeah and I need to take advantage of that that's cuz since I am not spending too much I just end up paying it off um since my operation is so small right I
(4:57:17) haven't really scaled but uh that is a good point you made right and so like when we utilize those assuming that we do them correctly and we pay attention to our finances and we manage them correctly we can leverage a lot more money than what we have to help build our own Capital right um so like obviously like for those that are unaware like if you spend if you max out your card and then the very next day your statement comes then uh your statement at that day that it was processed you then have 20 your your grace period after that to pay the
(4:57:53) bill so that's why we wait until our statement is issued and then do it the day after and then we utilize those those interest free days because if like say if you Max with your card and then you get your statement the next day then you only have the the 21 28 days to pay it off total instead of 55 so I wouldn't recommend going Balls to the walls yet until because you said you you mentioned like you kind of have a little bit of doubt in the process so once you have more confidence in your process and understand your payment
(4:58:28) cycle and can and can track when I send products to Amazon how long they take how long it takes for that to go into my balance and how long that takes to come back to my bank account once you have all that down and you're confident in you're purchasing and you know you can turn your inventory over every two months because you're making good purchasing decisions then I would start saying start leveraging more credit like right now with what you have if you have $115,000 available for your business and you don't have any
(4:58:58) dependence you don't have any employees you're not relying on that 15 grand I would tell you you should probably go spend that $155,000 tomorrow on good inventory not buying but you should spend all of it because that's that that's going to be a great injection for yourself you're buying good inventory and yeah I mean that that that's been the plan sorry go ahead I didn't want to cut you off no that's okay and then once you have that entire process down and you know how long takes to get your money back then you can say cool so my
(4:59:27) average processed for my inventory to get their Amazon sold back in my bank account is going to take me 40 days on average so that means that I might take a risk there might be a slight risk there so if it is for religious reasons you might want to ensure you have backup or potential money from a family member so that uh you don't have to pay that just in case or you have another way to pay it like off a line of credit and then you can pay that off before interest comes um but once you understand that entire
(5:00:00) process and you're like okay I have 55 days to to make my to make my payment interest free I know it's going to take me 40 days to get my money back from when I spend it so I'm going to take this slight risk I'm going to inject 30 grand into my into my account and realistically I should be able to pay it off with yourself it's a bit more tricky because you can't pay interest with most other people when they have that process down it's not the end of the day it's not the end of the world for for them if they do have to incur interest for that
(5:00:29) onetime payment because it's going to be well worth it for them but when you do have a bit additional restriction it's going to be a little bit tougher for with yourself yeah got you yeah makes sense yeah I I'm still I'm still guess in proof of concept stage till I'm comfortable enough to start injecting a lot of money in because I mean my plan was to add another 15K uh and then maybe and then a month or a month later i' add another 15 because I do have uh cash for it but it's just yeah just managing the cash
(5:01:05) flow just so I don't ACR that interest that my biggest concern most more so than anything else yeah and like so like just say for example if you are in a position where you potentially want to inject 15K more yourself you have that abil or no 30k yourself and you have that ability but you're just unsure right now A wise move for you right now if you have 15K available in your bank account in your business assuming you can buy the the proper inventory I would say spend that immediately on good purchasing get that get that money
(5:01:39) working for you and then if you have the ability that you can do up to another 30k but you may or may not want to but you have it just in case you need it and you're not going to die without it and you're not going to go hungry then you can fully do that concept with that injecting 30k onto your credit card and you can pay it off no matter what before interest occurs and you can do it intelligently assuming you have the inventory that you can buy and that could really help get your purchasing going a lot more and getting much more
(5:02:11) consistent cash flow and much more consistent profit yeah yeah I know that makes sense I definitely need to get some my uh stuff more organized so uh yeah that that is the plan that is the plan but yeah like so like with that breakdown does that does that kind of make things more clear though yeah yeah it does yeah it gives me a better idea how to yeah and like once you sit down and like think about it and break it really break it down it's it's actually fairly easy it's there's there's there's real risks involved and if if you invest this
(5:02:49) money and like say if you don't have the actual money to pay it off like some people do when they first started this and something up happens like you you get sick or something up happens to your account you're taking a real risk but for some people to get past a certain point you have to take that risk in order to start scaling with yourself you're in a better position because you have the potential Capital behind you that you can front it so you'll probably be okay even if something even if the worst happens
(5:03:15) minus your bank account getting Frozen by the government if if you're doing something but well no I'm not it's Canada I don't like to be too public with My Views here so 100% I I keep that I keep that offline for now unless maybe I don't know chudo is listening but for now I think I'm good yeah so just make sure you pay your taxes and then you yeah that was that was a very helpful session I gotta go uh but yeah look forward to the next one sounds good all right man have a good night you too yeah everybody else is that all kind
(5:03:56) of make sense yeah that was awesome yeah I really appreciate that that was very helpful I'm going to spend my money on Saturday make make Intelligent Decisions don't over yourself no but the reason I asked for a second card is because I do know my statement dates and um I already maxed out my CT card because they only gave me $3,000 and um so I need I need another card in between because I know that my IMX school that turns over on the 28th so I need something in between a little a little buffer um I could be spending money this
(5:04:47) week and I haven't been we don't really have like that many like crazy cards do you have a corporation yeah um it might be beneficial I don't know if their default is I and obviously if they approve you that's that's up to like your own personal finances and stuff I want to I want to say just because it's been my personal experience but I don't know for sure but the MX business Edge it's an actual credit card it's not a charge card um I would assume because I would assume because it's how they worked with me but when I applied
(5:05:23) for the uh business Edge they gave me an automatic limit of 50 Grand so I would assume that's like their minimum that they approve you for so that might be a card considering if if that's what it is because if they give you 50k that' probably help you quite substantially yeah I I get confused with the IMX school because they the when I spoke to them he said there is no limit how could there not be a limit because it's a charge card it's not a credit card it doesn't have a hard limit but they still restrict your spending based on your
(5:05:57) prior habits right so it doesn't have a hard limit so like with traditional credit cards if you get a card that has 10K on it you can only spend 10K with a charge card they don't have hard limits but but like say say you get a a gold or a platinum some people depending on your finances you have access to spend some only have access to spend a few thousand dollars uh a month when they first start some have access to quite substantially more and then as you as you continuously use it and pay it off and do not incur
(5:06:29) interest and do not um Mis payments that amount tends tends to rapidly increase so when I got the MX business Platinum uh on the AMX site you can quote unquote check your spending power and it tells you how much you'll be approved for in one transaction right so that's that's kind of I think mine's 10 mine's 10 grand right and so with the Platinum I don't remember what it was when I first started but I want to say it was like 20 30 grand very like within like just a few months when I check my spending power I could spend like 150
(5:07:04) Grand oh my Lord I should check mine yeah I they actually had it for like I think three months not that long um but yeah like this is I'm just going to look over this quickly and then I think it's time to end it been on here for a long time but this is a post I had on Twitter and this is just like a example about comparing if you invest 10 grand into the stock market with an average expected annual return of 10 grand at the end of that year you'll have $111,000 uh so we made some assumptions it's very reasonable to expect an
(5:07:39) average return on investment for the products you purchase to be 20% for many this number can be a lot higher if you have a healthy Arbitrage or wholesale business you should be able to turn over your inventory between 8 to 12 times per year obviously that's not applicable um if you're brand new but once you have a healthy consistent business that is very reasonable to expect um so if we use the same numbers you start with $110,000 have an average 20% Roi and you turn over your inventory six times per year so on the low end you
(5:08:11) end the year with $29,000 year two $266,000 year uh or sorry year 2 89 year 3 266 year four 794 year five 2.3 million turn 10 $110,000 into $2.3 million if you don't take it out and you keep reinvesting it if you do and that's a 20% Roi which is more realistic I think right you look at scenario two where you can turn over that inventory 12 times per year you end year five with $563 million so that's obviously it's like let me say when you take a penny and you compound a penny you know that when they ask you that question which would you
(5:08:54) rather have yeah if you a penny for a million days or a million dollars or something I can't remember how it goes if you double something like if you double a penny every day for a month yes every day would you rather have that or a million dollars and the penny ends up worth more yeah but so and this is like the same example yeah and so like obviously scenario two with year five that's assuming you can support rapid growth like that which most people can't they're going to Plateau at a certain point but it just
(5:09:22) shows what is actually possible Right which is crazy but yeah when you look at this like you can actually take $10,000 which is not out of the realm of reach for a lot of people or it's not out of the realm for them to obtain in a not in significant amount of time and right if you just stay extremely consistent in a few years it can be worth a couple hundred Andra and that's how you see a lot of people start Amazon businesses with relatively low amounts of funds because they continuously reinvest it uh try to inject add additional cash into
(5:10:01) it from other sources um and just just keep enormously consistent yep well that's what you have to do that's why you have to be organized with your statement dates too right so you know you're you're getting because like for me I'm also I'm still at two weeks and yeah I could pull out I could pull out money right now but I don't want to because then it screws up my dates because then they push your dates back my dates right now kind of align with my credit card payments right but yeah like I mean that's just
(5:10:37) like if you're wanting to actively average credit cards but like like like even so again A lot of people are scared of credit cards and they can be scary if you around with them and you don't understand how to use them but if you understand how to use them even with incurring interest if you have something that can support earning back more than that interest isn't is occurring it can still be beneficial as long as you do it intelligently right I think you were you were explaining that on another call too like
(5:11:08) if you incur interest just like you made that example you put 30,000 in but you you compound that and and you subtract the 6,000 at the end of the year even at 30% even at 20% it would still make sense pay the interest over time because that money is making you money right and there's obviously risks that are involved um because yeah well obviously there's you can get shut down at a moment's notice like we know but if something if something scare you guys off over there but no but like if something happens you're still stuck
(5:11:43) with the payment for sure but of course in some scenarios like eventually there's risk versus reward and So eventually you have to take a risk if you want said reward well that was the question I asked earlier like at one point at what point do I go from what I'm making to a bigger number that's up to you because I do I do limit what I do I spend like I could honestly spend a lot more but I'm I don't want to go crazy and be Stu either because I am a little gunshot because of that right that's well that's about
(5:12:22) having sustainable growth right right and everybody's I could have I guess maybe I could have grown faster but I well it's only been two months let's face it since I've been back right right but like every everybody's financials risk tolerance all that kind of stuff is different that's why I asked so many questions before I started talking about yeah of course yeah because like that's why I didn't want to put too much out in the first month because I didn't know how it was going to go and what inventory was going to sell from before right so I
(5:12:56) kept it kind of whatever right levelheaded didn't go crazy didn't buy myself anything yeah like I talked for sorry I didn't mean to cut you off go ahead yeah go ahead um in the one call that we had and he said he's cool with me sharing it like with Robert uh he does quite well like he does a couple million dollars a year and I've been talking to him since he started and uh when he started scaling like oh my God when he when he said what he spends a month I was on that call 180,000 a month I was like oh so and he didn't start that long ago
(5:13:42) he's another one he's been at it for a couple years I believe yeah I think he's in his third year but um so like yeah like when he very first started like scaling like decently he sent me a message with a lot of concerns about having like a I think it was like a $30,000 credit card balance he was very concerned that he was going to incur credit so I broke it down and like we talked about it and like this is like the worst case scenario is what you're going to have to pay but I mean you're doing things intelligently so like this is one step
(5:14:14) you have to take to get past it he didn't really think about it just he just happened and he was just concerned he wasn't going to get paid uh back enough but yeah it ended up working out fine he didn't have to pay any interest yeah that's crazy I know I think I messaged him that I I spent like three grand on one order he goes you got to start it somewhere I'm like okay yeah you're spending 100 180 Grand a month that's crazy to me that's amazing he seems like such a humble guy like so like chill yeah he's very down to earth and
(5:14:52) very yeah a good guy yeah he reached out to me like when I was um you know in jail just out of the blue I never spoke to him before and was just like there's anything I could do to help whatever what happen so like I always say the community is great for that but 180 Grand I can that's crazy so I'll put a picture he's only got one V8 that's it I think at this moment in time yes yeah I'll send you a picture because amazing somebody asked I think it was C chill about asking about cash flow I I open up the spreadsheet this was done on
(5:15:38) Sunday and so that was uh our numbers for for the week oh Lord he doesn't sleep either Robert sleeps oh he does sleep he goes to bed early yeah he's an early bird yeah he goes toed what did he say he goes to bed at 10 10:30 yeah he's always in B early me yeah I can't my brain doesn't shut off yeah I could really Source all night to be honest no problem oh yeah when you get into it and if you enjoy it then yeah it's definitely easy to lose track of time oh for sure all right ladies and gentlemen it's been a pleasure yes yeah it's been a
(5:16:36) pleasure thank you it was great talking to you