#396: A journey from Amazon basic strategies into $50K/month private label success
Silent Sales Machine Radio
Jim Cockrum
4.8 • 805 Ratings
🗓️ 4 October 2021
⏱️ 53 minutes
🧾️ Download transcript
Summary
Today's episode is the story of a journey from "Amazon basic selling" into "Private Label". If you didn't realize it, 95% of the YouTube "gurus" talking about Amazon selling are convincing new sellers to jump straight into building their own private label brand. This is taught by most experts as, "the ONLY way to go". The truth they don’t tell you though is that an estimated 90% or more of those "PL goldrush seekers" never make a dime - they only lose big. To help avoid the heartbreak and loss, we go against the grain and teach a methodical approach to Amazon selling success. Our approach involves putting money in the bank with lower risk, fast reward models that build a profitable foundation for you BEFORE you venture into the PL arena. Today's guest is a JimCockrumCoaching.com student who talks about his gradual journey into PL after making money while learning the basics first from out team. He's built a $40-50K per month PL income stream (20% margins) and he's looking to expand off of Amazon as well.
We talk about all this and more on today's episode with Cabel McElderry from Alberta Canada
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ProvenAmazonCourse.com - The "Proven Product Partnering" training module that Matt mentions is just one of the numerous training modules found in our flagship course called the Proven Amazon Course (PAC).
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Transcript
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| 0:00.0 | Hey, business building warrior. It's your buddy, Jim. We've got a guest on today's episode |
| 0:06.8 | who's actually built a fairly significant private label brand in the health niche. Now, that's an |
| 0:14.2 | unusual topic for this show. You don't have to look very far to find other shows who only |
| 0:20.3 | talk about private label |
| 0:21.6 | and building your own brand. And there's a lot of great information out there on that topic. |
| 0:27.4 | But there's also a whole lot of very toxic, dangerous misinformation on that topic. And a whole lot of |
| 0:34.5 | people, I estimate about 90% of the people who pursue that model, |
| 0:39.5 | who are losing their shirts. |
| 0:42.3 | Or as one recent guest, Chris Beam on this show said, she calls the private label model, |
| 0:47.2 | the pants loss model. |
| 0:48.7 | You're going to lose your pants. |
| 0:49.8 | You're going to get wiped out. |
| 0:51.4 | If you jump on YouTube and say, teach me how to sell on Amazon, |
| 0:54.6 | you're going to get inundated with private label, advertising, experts, gurus, courses. |
| 0:59.8 | You're going to be $10, $20, $30, $50,000 in the hole before you realize, six to nine months |
| 1:05.3 | from now that you made a tragic mistake. It's happening to thousands and thousands of people. That's why this show, |
| 1:13.7 | typically we don't talk about private label because we don't want to create the misconception that |
| 1:18.9 | anybody can jump out and start their own label. That's not how the world works. What we teach instead |
| 1:25.1 | is start small, grow small. We dive into that a little bit in today's episode. |
| 1:29.8 | Once you have the momentum, then you get into private label. I'll repeat that with our guest today. |
| 1:34.8 | Once he comes on and introduces the private label topic, I'll go through it with a little more |
| 1:39.1 | in depth. But this is still an episode if you're new that you should listen to because this paints a very good picture of the reality of what lies ahead once you have some success with the easier models. |
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