#251 - When is financing worth the risk?

Selling on Amazon with Andy Isom

Andy Isom | Amazon FBA Seller & Agency Founder

Amazon, Business, Amazonfba, Selling, Marketing, Entrepreneurship, Personalbusiness, Productbusiness, Ecommerce, Onlinebusiness

4.9 • 816 Ratings

🗓️ 24 May 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is an updated version of Episode #72 - Should you take on investors to grow your business. I talk about three factors you need to take into consideration if taking on outside funding is worth the risk.

⬇️ Click to view my available resources!

https://www.andyisom.com/

Some products and resources mentioned in this episode may no longer be offered. Please visit my website or DM me on social media for currently available downloads, resources, and coaching programs!

Transcript

Click on a timestamp to play from that location

0:00.0	$5,000 to $10,000 gets you started. That gets your brand off the ground that helps you get everything set up,
0:06.8	samples, first order, get things going. But once you creep up to that $7,000 to $10,000 in sales per month,
0:14.7	you hit this growth plateau where it's going to be hard to like triple that or even like 5x and get up to $50,000 in sales per month
0:24.5	without outside capital.
0:32.8	What's up guys? You're listening to another episode of Selling on Amazon with Andy Isam.
0:38.3	When is financing worth the risk? This is essentially a follow-up podcast episode to episode number 72.
0:49.4	So that episode number 72 came out, gosh, almost two years ago. So this is a, we'll call it an updated
0:57.0	version of this episode. And I want to give a little quick backstory on how I came to this episode
1:04.4	idea. It's actually, I had a really good conversation with a friend just last night, actually,
1:15.5	about this. And I want to talk about the time, the point in time of your business when you're going to really strongly consider financing,
1:22.8	outside funding investors, kind of like what I mentioned in episode 72. So here's the deal. And as you're
1:30.0	listening to this, you may be in this situation right now with your business. Maybe you've
1:35.4	already passed this point of your business and you've already, you know, maybe at higher levels
1:40.4	than what I'm going to mention in the episode. Or maybe you're just getting started and I can
1:45.0	guarantee you with almost certainty that you're going to get to this point at some time or another.
1:52.8	It may be a little bit different for you than what I'm going to share, but you will get to this
1:56.7	point at some point. So here's a thing. You launch your Amazon business, right? You're up and you're
2:02.4	selling. The first few months, you're very likely only going to be selling a few thousand dollars a
2:08.7	month. Unless you're someone who's sitting on a big budget, you've got a ton of money to pour into
2:13.8	advertising, you're running social media advertising campaigns, you're just
2:18.3	pumping a ton of money into the system. If you're that type of person, then you might,
2:22.8	you could launch and do 5,000, depending, you know, your product, the demand, how many skews you
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Andy Isom | Amazon FBA Seller & Agency Founder, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Andy Isom | Amazon FBA Seller & Agency Founder and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.