#490: But what if there's a recession?! What should Amazon sellers do?
Silent Sales Machine Radio
Jim Cockrum
4.8 • 811 Ratings
🗓️ 13 July 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
What if there's a recession? Will inflation make this business harder? Does the Amazon model we teach still work? What evidence are we seeing currently in the Amazon seller arena? Is now a good time to get started with the ProvenAmazonCourse.com course or coaching? Let's talk about it in this mini-episode.
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Transcript
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| 0:00.0 | Hey, business building warrior, welcome to silent sales machine radio. I've got a mini episode for you today. |
| 0:09.3 | It's a topic that I've seen popping up in our 70,000 member Facebook group a few times lately. |
| 0:16.9 | People are apparently reading the headlines and coming into the group a little nervous, asking questions like, hey, what about all this recession talk? |
| 0:25.5 | What about this economic downturn? |
| 0:28.4 | What does the e-commerce opportunity look like specifically the Amazon Replins model that we talk about around here? |
| 0:36.8 | What does it look like in the face of an economic |
| 0:40.6 | downturn? And I would argue, just to cut to the point that I'm going to make today, based on |
| 0:46.5 | facts and evidence and thousands of people in our community who are seeing great results, |
| 0:51.6 | I would argue that no matter what the economy does, this is an |
| 0:56.1 | incredible business model to be in, good times or bad. Because at its core, the strategy that we |
| 1:03.2 | teach in the proven Amazon course, the foundational strategy where we start 99% of all of our new |
| 1:09.4 | students, isn't taking some big risk and hoping that you make |
| 1:13.3 | money someday launching a brand new product that the world has never seen. Certainly, that's one way |
| 1:18.8 | you can approach Amazon. And that is too big of a risk for 99% of all new sellers. You should |
| 1:24.7 | never go down that road. We see about a 5% success rate with that |
| 1:29.4 | approach to Amazon. So don't do it. Okay. Where should you start? We start you off with a model |
| 1:35.1 | that identifies underserved listings on Amazon and you go find the product and you bring it to the |
| 1:43.6 | market. You don't go buy |
| 1:44.9 | a thousand units or even 500 or even 100 or even 50 or 20 units. You could just buy a few |
| 1:50.4 | and test. And if those sell, you buy a few more. And you've got a boring business model |
| 1:54.9 | selling all manner of unusual products at a nice profit. And if it doesn't sell it a profit, you sell it at break |
| 2:02.4 | even or a slight loss sometimes and you move on. But the beauty of this business model, |
... |
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