#587: Funding for the startup and growth stages of your Amazon business
Silent Sales Machine Radio
Jim Cockrum
4.8 • 805 Ratings
🗓️ 13 February 2023
⏱️ 40 minutes
🧾️ Download transcript
Summary
How much funding do you need to start a successful Amazon business?
Where can I get those funds?
How can I scale faster once I start to get momentum?
What's the difference between a GAMBLE and an INVESTMENT?
How should I view debt as a business owner?
Let's talk about these topics on today's podcast episode. Let me know what you think!
Watch this episode here:
Check out this episode sponsor - Payoneer.com. Skip the credit checks and learn more about bringing your eCommerce vision to life by visiting https://Payoneer.com/funding. Our podcast listeners get a special 10% fee rebate on their first offer!
Show note LINKS:
Jim references the "Chiropractor" episode today. You can find that episode 550 titled "Used only $200 to start & rolled it into paying off 10's of thousands in debt" - https://SilentJim.com/podcast
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Transcript
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| 0:00.0 | Hey, business building warrior. Welcome to Silent Sales Machine Radio. This is your host, Jim Cochram. And I've got an episode today that's all about funding your business. Let's talk about how to get started if you don't have any money, which is a few people who listen to this show. And then many others who are thinking to themselves, |
| 0:23.1 | I kind of would like to try this out. Where can I get some creative funding as I start to scale |
| 0:28.6 | this thing up? How much funding am I going to need? How much should I be looking for? I'm |
| 0:33.6 | talk to that segment. And then those of us who have established businesses who are trying to make good |
| 0:38.4 | responsible decisions about how we're going to fund our growth, our continued growth. |
| 0:45.5 | It's more about risk management at that point. |
| 0:48.7 | Arguably, it's about risk management at every level. |
| 0:51.3 | But let's dive into that, just having observed the behavior of our community |
| 0:55.3 | for, again, I've been doing this for 20 years plus teaching e-commerce, doing e-commerce, seeing where |
| 1:01.6 | the money flows, what works, what doesn't. I'm very proud of the track record of our team. |
| 1:05.8 | If you're new around here, let me just fill in a couple blanks for you, and then we'll dive |
| 1:08.9 | into the content. Like I said, my name's Jim. |
| 1:12.1 | I've been doing e-commerce full-time for coming up on or right around 20 years. |
| 1:16.4 | The only income for my family, we homeschooled five kids, my wife and I. |
| 1:20.6 | She's super smart, got a great college degree, but we didn't actually use it in the career world. |
| 1:26.9 | We had her stay home. |
| 1:29.2 | She loved being a homeschool mom, homeschooled all of her kids. |
| 1:32.4 | Our primary source of income for the last 20 years has been my work in e-commerce. |
| 1:38.3 | We've got 60 coaches at this point. |
| 1:40.3 | We've coached coming up on 10,000 students into e-commerce, courses, books, content, |
| 1:46.8 | events, that sort of thing. |
| 1:48.0 | Thousands and thousands of students have been through our curriculums and content trainings. |
... |
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