FBAM7 Getting Your Product To The First Page With Manny Coats

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FBA Millionaires was live with Manny Coats. Make sure to share us with friends and and give us an honest review on iTunes:

Podcast Discussion:

– AmPM Podcast

– illuminati mastermind

– Learning from networking

– Joe Lister- Auto create your Amazon listing on eBay

– Getting on the first page for your main product keyword

– Competitive markets

Cerebro Product Rank

Resources:

FBA Millionaires:

https://fbamillionaires.com/

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Sponsored by: SkuTask

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Jeff A.:

What does it mean to laugh all the way to the bank? Well, today we’ve got a marketing stud. I mean, this guy has been around the block he knows what he’s doing and we’re going to talk to him next. From the West Coast to the world, this is FBA Millionaires.

[00:00:30]

Welcome to FBA Millionaires. This is the program that is geared towards helping you pursue your goal of earning a seven figure income selling professionally on Amazon via fulfillment by Amazon. Hi, my name is Jeff Allen, and as always I am joined, in Northern California, by our own resident Amazon sales machine, Mr. Will Moffett.

Will, what is going on? What kind of trouble are you getting yourself into today?

Will M.:

[00:01:00]

Jeff, everything is going well on my side. It’s sunny here in Northern California. We’re making money and I, I, I love to be on the podcast. We’re here with somebody that I, I feel is very special in the Amazon industry and um, I’m ready to get into it.

Jeff A.:

Well, you know, the guy that we have on today, and I’m going to let you, we’ll do the honors, is somebody who is probably no stranger to people who are listening to our program. Uh, We know that there are some very valuable podcasts indeed out there. And a lot of folks listen to a number of shows. I know that you do. And this is really kind of where you kind of got familiar with our guest today.

[00:01:30]

And he is somebody who has a lot of bus- a lot of experience in starting businesses and operating them, and talk about multiple streams of income. Talk about an expert in his field in the area of online marketing. Who do we have today?

Will M.:

It’s Many Coats, what’s up Many? How’s it going, man?

Manny Coats:

How’s it going guys? I am great. Thank you.

Will M.:

I’m glad all is well. And so, we’re all here in California. You two are in Southern and I’m in Northern.

Jeff A.:

[00:02:00]

Well that’s all right man, expanding the globe and operating here from the Golden State, uh y-you can’t get any better than being able to sit down here in your underwear, doing a show from the land of milk and honey.

Will M.:

(laughs)

Jeff A.:

And it’s great to be with you guys. And Manny, welcome aboard. You have that AM PM podcast and you’ve been on now for how long on that show?

Manny Coats:

[00:02:30]

Gosh, we started that one right when I got into Amazon FBA and that was almost two years ago. About- Just over a year and a half ago. Decided to chronicle my journey with Amazon FBA. Started off, I think I said. I- I- I don’t even remember anymore. I think I said I wanted to make $ 25,000 dollars the first, uh, was it the first 90 days? And then a quarter million dollars in sales, um, the entire year, w- which would’ve been 2016. Last year. And then, of course, we crushed through that and, and, nah, never looked back. It’s just been kind of fun talking about it, uh, every week.

Will M.:

I [crosstalk 00:02:49].

Jeff A.:

Yeah. Right, Will? I mean, I mean, talking about setting some goals and achieving them. I mean, you wouldn’t want to look back when you, when you have that kind of success.

Will M.:

Talk about ten [x-ing 00:02:59] it, Manny.

[00:03:00]

Manny Coats:

I know. I know. And I met Will at- You know, just by chance. We were at a, the same conference in Los Angeles. They were seating us around these big round tables and, uh, we just happened to s- sit next to each other. Uh, he introduced his company. I introduced mine, um, and then from there, yeah, I’ve used, uh, his services, he’s been on the podcast and here we are now on a new one, so this is pretty cool.

Will M.:

[00:03:30]

Definitely. So, you know, I met you at the [inaudible 00:03:24] Visor Conference. We’ve talked various occasions. Um, I listen to your podcast and I love it. You guys head to ampmpodcast.com. Check that out. Um, so tell us, what are you into today? What’s going on? Haven’t heard from you in a while, haven’t talked to you in a while, so I want to catch up, see what’s going on. I know you get Helium 10, the podcast, you’re killing it on my Amazon.

Manny Coats:

Yeah.

Will M.:

Tell us what’s up, Manny.

Manny Coats:

[00:04:00]

Well, we got a few things going on. We- we’ve a- I always feel like I’ve got a … Actually, just last week, uh, and beginning of this week, we had some meeting, uh, me and my business partner, [inaudible 00:03:56], and we’re just like, “You know what? We’ve got to start saying no. We can’t keep saying yes to everything we want to do,” cause when we get together we’re- we’re idea factories and we’re like, “Let’s do this. Let’s do that.” And so we have a lot of things in the pipeline, uh, right now, but the things that are, you know, obviously, the things that are doing, are keeping us busy and that are doing well, the podcast is a great vehicle to reach out to the masses.

We have our- our Facebook group. Um, you’re in there, Will. I think about 26,000 Amazon sellers in our FBA high rollers group on Facebook.

Will M.:

Woo. That’s a lot.

Manny Coats:

[00:04:30]

That keeps us busy trying to keep that going. Yeah. And then we have, um, the Helium 10 software, uh, which is awesome. I-I mean, it’s not something that we just put out there and say hey, we’ve got these tools- I use these things every single day. We’re using- The guys right now in the other room are using it right now for our product launches. We got some new Christmas stuff that, that is launching right now. And then, we have a, a high end event, uh, and a conference, uh, that we’re doing in January, uh, and that’s for the Illuminati Mastermind Live conference event.

[00:05:00]

That’s for guys that are already doing, you know, at least $10,000 dollars per month. Most of the guys in the room are doing seven figures. Um, some of them eight figures. I have one guy at the last even we did, um, that did more in one day than I did in my entire first year, so it’s just like …

Will M.:

Wow.

Manny Coats:

It’s crazy some of the- the success stories.

Jeff A.:

Hey, Manny. I got- I wanted to jump in. You know-

Manny Coats:

Yeah.

Jeff A.:

You’ve got people like that in your audience and you know that they’re earning six and seven figures a- a year, and- and six figures, and sometimes in a- in a month, and you’re talking to these guys. Do you ever wonder what it is that they’re doing there? Do you ever learn anything from them?

Manny Coats:

[00:05:30]

Yeah. I mean, that’s one of the great things about, uh, this particular event. We wanted to make it a- all about networking, so, uh, we had lots of time between sessions so that after you heard somebody speak you would have, you know, 15 minutes to go over and- and talk to, to speak or talk to whoever it was, and then afterwards it was these big network and socials and things like that. Um, and, yeah, you would sit there and you’d be having a beer with one of these guys that’s, you know, just looks like a- Just a regular person just like yourself and then you’re finding out, “Man, he just did 10 million or 12 million dollars last year,” and you start to find out, when you’re probing them and asking questions like, “Well, what’s the difference? What are they doing?”

[00:06:00]

They’re like, “Oh, we outsource all of this or we do SOP’s or we’re going, you know, this.” It’s usually not any small thing. Like, you know, not- not like a little hack. It’s more on the, the larger scale. Like, you know they say there’s only 8 hours- Sorry. 24 hours in a day. I only want to work a maximum of 8 hours, so what do I do? So, you know, if you want to work so many hours and you have tons of things to do to scale that big, you’ve got to, for example, out- outsource stuff. And if you’re going to outsource, you have to have systems in- in place. Right? Otherwise, it’s going to become a mess.

[00:06:30]

So, uh, I learn a lot. Every time I talk to somebody, there’s something really cool that they’re doing, um, you know, that I’ve never of. We just had a- We just, uh, did, uh, an- and interview with a guy that sells used products on Amazon, and he does, I think he does like $5 million a year or something selling used stuff.

Jeff A.:

What?

Manny Coats:

I never even considered that. So it’s crazy.

Jeff A.:

Unbelievable. I just- [crosstalk 00:06:46] I can’t get my head-

Will M.:

[crosstalk 00:06:47] Ebay when I think used, right?

Jeff A.:

Yeah. That’s exactly- Garage sale.

Manny Coats:

[00:07:00]

Yeah. No. It’s- it’s like through liquidation.com buying like pallets of stuff, you know, where you get things for like ten cents on the dollar, and the stuff is essentially new. It’s just the- the the box is open, so it’s open box if you’re got to sell as used. It’s crazy. It’s just- If you talk to somebody there’s that one aha moment and you’re like, “Oh my gosh. Okay. The door have opened. I’m- I’m gonna test that out.”

Jeff A.:

Yeah. What am I- What am I missing out on?

Manny Coats:

Yeah.

Jeff A.:

Exactly right.

Will M.:

[00:07:30]

There’s so many ways to go about and, and, and, and it all comes down to how do you want to work? Do you- Like you said, Manny, do you want to work eight hours a day? Do you want a warehouse? Do you want to be shooting product from Ebay to Amazon and all type of different, uh, channels and … Yeah. It’s- it’s- What do you want? I th- When I think about that- what first formed my vision on what I wanted …

Jeff A.:

Mm-hmm (affirmative).

Will M.:

Was the four hour work week.

Jeff A.:

(laughs)

Will M.:

[crosstalk 00:07:37] And I said, “You know what? I want to kick back. Private label.” (laughs)

Manny Coats:

[00:08:00]

Yeah. Yeah. And you know what? It’s- it’s it’s one little thing that, uh, really triggers things. I mean, I- We’re talking a big scale. We’re going to, let’s say, eight figures, 10 million. That’s a whole different thing, but like when I heard about Joe Lister … I didn’t even know what Joe Lister was. Most people s- that are listen- listening to this probably don’t know, but it’s a cool little service. I don’t even know what it costs. It’s- I don’t- I think it’s like … I don’t even know. Under $20 a month or something like that, but we added that, and it just automates all your it- it- imports everything, I guess, into Ebay and then it- from Amazon, and it automated the whole thing so you don’t do anything cause Amazon still ships it, and that probably added I don’t even know what it-

Some kind of- Probably five figures per year to our bottom line for about 15 minutes of work, and it was something that I heard someone talk about. You know, stuff like that.

Jeff A.:

[00:08:30]

Now hold on. Hold on a minute. I’m going to- Yeah. Let me jump in there. So Joe Lister … So what you’re saying is it will automate essentially, uh, product listings from Amazon, transfer, apparently, that information to Ebay so if you’re having, uh, trouble … If you need to clear something out of inventory in Amazon, you can sell that over on Ebay. Is that, is that what you’re saying?

Manny Coats:

Yeah. First of all, I have [inaudible 00:08:39] do with this, with this tool. It’s just something that we- we use, but yeah … The way it works, essentially, is it’ll take your listings, it automates the process of creating all your listings on Ebay. Like it just does in- in seconds. And then, when someone orders on Ebay, it has nothing to do with you wanting to liquidate or anything-

Jeff A.:

Okay. Okay.

Manny Coats:

[00:09:00]

It just, it literally takes all of your stuff over there, um, and then when someone buys through Ebay, because a lot of people still will only buy through Ebay. They won’t go to Amazon for whatever reason.

Jeff A.:

Right. Okay.

Manny Coats:

It then sends that order, basically, gets drop shipped, I guess you could call it, from Amazon. Uh, so everything still gets billed and charged and through- through Amazon …

Jeff A.:

Okay.

Manny Coats:

Uh, or, or through- I’m sorry. Through- through Ebay, gets shipped through Amazon …

Jeff A.:

Got it.

Manny Coats:

So you still have all the, uh, the order processing and everything on the Amazon site, but you’ll be getting PayPal payments or whatever it is, uh, through the Ebay system.

Jeff A.:

Nice.

Manny Coats:

[00:09:30]

Which is really cool. My brother actually set it up. I said, “Hey, let’s, let’s add this,” uh, and with, you know, the first day we started seeing some sales come in. They trickle in. There’s not a lot, but if you make, you know, $15 dollars here, $10 dollars here, by the end of the day you’ve made an extra, you know, $100 dollars, let’s say. You know. Multiply that by 365 days, it adds up really quickly.

Jeff A.:

It sure does. It’s just adding another, essentially, another channel. Uh, and, uh, and who wouldn’t want that? Especially when you’ve got, uh, the inventory that you’re able to take and service through those channels. I think it’s a great idea.

Manny Coats:

Yeah.

Jeff A.:

[00:10:00]

You know, and we’ve got Manny Coats, by the way, on with us, FBA Millionaires. Will Moffett and Jeff Allen. And, let me … I’m kind of still stuck on, you know, one of the first things you talked about was just the fact that, really, you’ve only been working Amazon now really since 2015, and- and through FBA, and you’d talked about you’d set this initial objective of $25,000 dollars in three months and you crushed that and they- Your six months sales it’s just, uh, fabulous. What are you doing right now? What are you generating right now in terms of revenue in a monthly basis?

Manny Coats:

[00:10:30]

Uh. On a monthly- We just surpassed 2 million for this year on one account. Um, so, I think a- I looked last week and the trailing 30 days so far was something like, uh, just shy of 300, 200 and 50 something thousand. It’s scaling up, you know, as we get closer through, uh, you know …

Jeff A.:

Right.

Manny Coats:

Through Q4. It starts moving up. I think December, for example, will probably be a month where I- I would be shocked if we don’t do half a million just in that one month.

Jeff A.:

Wow. Yeah.

Manny Coats:

[00:11:00]

Um, but, yeah. That’s where we’re at right now. Um, all- all private label. We don’t do any kind of retail arbitrage or any of the other things, um, that- that’s out there. And this is just with one account, and that doesn’t include, you know, any of the other businesses and services and things that we- we provide.

Jeff A.:

[crosstalk 00:11:01]. That’s amazing. He is crushing it.

Will M.:

Crushing it. This is a prime example of the FBA Millionaires. Everyone. So tell us about this. When I first talked to you, you said you had a way to get people to the first page of their keyword.

Manny Coats:

Mm-hmm (affirmative).

Will M.:

So, everybody wants to get to the first page. I know, uh, one time I had a problem with being number one on the first page and I said, “Get me, uh, the number four spot,” (laughs) because I was getting attacked like hell.

Manny Coats:

Yes.

[00:11:30]

Will M.:

So, uh (laughs) … So, um, tell me a little bit about, um, what you got going with Helium 10? How you get people to the first page and we love to hear more about that.

Manny Coats:

[00:12:00]

Yeah. I think we should probably break this down into two components because getting to page one … And I’ll talk about how we get there. That’s one thing, right? Uh, you get up there, but once you’re there and you have that organic visibility, right? Someone types in, you know, LED candles or tactical flashlight, or whatever it is that you’re- you’re selling, and you’re there, are you going to stick? Because I see it all the time. People post in our Facebook group and they’re like, ” Man, I got to a page one. I’m a- I was at the top, but it only lasted for like two days, and boom, I just started dropping and then I was off of page one.”

[00:12:30]

And then when you investigate and you look at the listing, you start seeing, well, yeah, you dropped off because for that partic- That specific keyword phrase, if when you look at everybody that’s around you, you know … If you’re- Let’s say you were number, the number two spot. The guy on- on top of you and the other, let’s say, 14, 15 people below you, those guys, um, have better pricing or they have better images or they have something that’s better than what you’re doing. Or maybe when you click into your product, uh, your listing, the conversions are terrible because they’re- your, the rest of your photos are bad or there’s something going on that’s just not working right there- You don’t have the reviews that you need, right?

Will M.:

[crosstalk 00:12:42]

Manny Coats:

[00:13:00]

So, getting your listing optimized and looking perfect, uh, as perfect as you can anyways, that’s the first thing you got to do before you ev- even, even do any kind of launch. Once you have that going, you got to make sure that you can stick- Based off- Before they even click into your listing, make sure that you’re listing from the search, uh, results perspective, can outsell everything else. Like, when you’re looking at it go, “You know what? If I was just- If I showed this to like ten people right now and I showed them, you know, what’s above the fold, or what’s showing on the page … Let’s say the top four listings or five listings, would they click into mine, and if not, why?”

[00:13:30]

You got to do some research, right? So you want to get to that point. Once you’re there, than you’re good, cause you- you’re going to be spending money. You got to giveaways, and we’re going to talk about that in order to get to that position, you know, so there’s- there’s capital investment, and then once you’re there, you want to stick cause it- it sucks to get there and then fall off, you know, the- the next day.

Will M.:

Mm-hmm (affirmative).

Manny Coats:

So, that’s, that’s what you do with your listing. To get there, it’s pretty- it’s, it’s, it’s basic math essentially, um, to … It’s an equation. Um, it’s sales velocity, uh, where people purchase over a certain amount of days. In our case, it’s- we- we- our formula is for eight days and it’s, um, it’s, uh, what we call the CPR formula, and the C-

[00:14:00]

Basically, you’re going to be giving away a certain number of units every single day for eight days for a specific keyword phrase, and you’re going to be using what we call a two-step [URL 00:14:01], or it’s a- a store front URL. Okay. And that- that means it’s your- when someone clicks that particular link, whenever you’re promoting it, whether it’s through Facebook or using, uh, some launch service, or you’ve got an email list or SMS. You know? Text messages. Whatever it is. However you’re driving people through this link, it takes them to your storefront, okay. And that’s a little bit more complicated and I have a video … (laughs)

[00:14:30]

If y- If anybody’s curious, um, we can’t cover it all in this podcast because it’s like a 45 minute video. You guys can watch that. It’s a free video. Check it out at, uh, it’s at helium10. com/cpr, but the gist of it is they’re going to see this, this, uh, your product on your, on your storefront page. They click that. It brings them into the product and when they buy, it’s going to give credit for that sale to that particular keyword phrase that you used for that, that special link, I guess you could say.

Will M.:

Oh, that’s hot.

Manny Coats:

[00:15:00]

And if you get- Yeah. Now, if you get enough people to buy every single day, um, let’s say its 20 units a day, uh, for this, for whatever you’re keyword phrase you’re, you’re looking for, and you do that for about eight days, typ- typically it’s about a week. We like to go eight days just to be sure, um, then you’ll start seeing yourself jumping up the rankings for that keyword phrase and almost every single time you’ll be on page one, and typically at the top of page one.

[00:15:30]

And the way to figure out how many units to figure out, cause that’s the mystery. Because go well, okay, it’s easy to create the URL, you know. You- You show me in this video the link I just gave you guys … You show us how to do that, but how do I know how many units to give away every single day. And when I say give away, I- we- we call them giveaways. It’s not really a giveaway. You’re selling products, right? But you’re typically using coupon codes to discount a product.

Let’s say it’s you’re selling it for $19.95, you’ll use coupon codes within Amazon to discount it to $3 dollars or, or $5 dollars. Whatever it is that you want to sell it for so that people buy. Like, it’s irresistible. I got to buy this thing. It’s a $20 product and they’re selling it for $2.50, right? That gets them to buy and you get that sales velocity, and you want to get a certain number of units per day, um, over those eight days, and that’ll get you ranking to the top. To the top of page one, typically.

[00:16:00]

Will M.:

That’s pretty cool. So can you use multiple keywords or do you recommend one keyword?

Manny Coats:

[00:16:30]

I always suggest going after one main keyword. The keyword ha- The keyword phrase has to be in your title, okay? The title gets the most juice in terms of, of ranking. You don’t want it in your bullet points, so whatever you’re going after should be in the title. We- I say you s- most people should do this. We don’t do that. We’ll go after multiple keywords because we know the system. We’ve got the budget to giveaway units. We’ll have, let’s say, you know, 12,000 units of something and we’ll say, “Okay, we’re- we’re planning on giving away 1,000 units. At- at a loss. Okay? We’re gonna- we’re gonna sell them for $3 dollars each to, uh, over, spread out over multiple keywords. Um, to get these ranked to the top, because once we’re at the top we know organically we’re going to stick there forever.”

[00:17:00]

So we, we might take a hit, uh, you know, because m- If our landed cost, if the- if the product’s costing us $3 dollars to, to manufacture and it costs us, let’s say, another dollar to get it to the US or to Amazon, and then you’ve got your FBA fees and everything, once you start adding everything up, let’s just say you’re up to $8 dollars, and you’re selling it for three, right? You’re losing $5 per sale. So if you’re giving away 1,000 units for this launch, you’ve essentially lost $5,000 dollars. Does that makes sense?

So, if you have $5,000 dollars loss, you’re like, “Oh. That- that kind of sucks. Who wants to do that?” But now I know that the next month, I’m probably going to make $10,000 dollars in profit because I don’t have to pay for paper click, I don’t have to do anything. I’m already at number one or number two, and then the next month it’s another 10,000 or 12,000. Maybe it should keep going up, and it’s just- it’s profitable.

[00:17:30]

All the big companies are doing this. You know, they go- They get up into the rank. They do some other things as well to get, like, best seller badgers and things like that, but, um, the cerebro … The CPR, uh, ranking method, which uses cerebro tells you the number of giveaways you have to give away. So, if you use the tool that’s within Helium 10, and you type in, um … All you have to do it’s o- it’s an un- An [Asin 00:17:47], um, it’s an ASIN tool essentially. A [reverse 00:17:50] ASIN tool, so you’ll put in a ASIN of your competitor. You’ll- the person that had, or the company that had …

[00:18:00]

I should say the product listing that has the most reviews. Okay. That’s been around the longest and you pace that into c- The- the, into cerebro. It’ll pull up, hopefully, you know, just tons and tons of keywords. And at least hundreds of keywords. In many case, a thousands of keyword phrases, and it will show you there, um, if this is a video podcast I- I’d be able to show you this, but I could show you the actual number of units you have to give away total to rank to page one and the number of units you have to giveaway per day.

Jeff A.:

wow.

Manny Coats:

That’s a- That’s the magic of it, so it does all the math for you and-

Jeff A.:

[00:18:30]

[00:19:00]

There’s no- There’s no guess work. And because everything’s done for you, you can now worry about other things and take care of other business. That man right there is Manny Coats. We’re talking a little bit about a product that his company has developed called Helium 10 and it’s really all about helping you to rank, uh, uh, as high as you possibly can on the first page there of Amazon, and it’s all about the benjamins to us and really, this is a man who is, is killing it, and he has got a lot of skid in the game, and we’re learning a lot and we’ve got more to talk to Manny about when Will Moffett and I, Jeff Allen return, when FBA Millionaires comes back right after this. (music)

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[00:19:30]

Jeff A.:

[00:20:00]

You know the first thing you need to do after listening to this program is to join the FBA Millionaires club so you can stay connected with all that we’re doing and all that we’re talking about, Will and I. We’ve got a, a lot of great things in store for you and the nice thing about it is is it doesn’t cost anything. You don’t have to be a millionaire to join. FBA Millionaire’s Club simply by, uh, going to fbamillionaires.com. Look for the links there. Sign up and be the first to find out all about upcoming shows, upcoming guests, guidance tips, advice, all sent to your inbox free. That’s fbamillionaires.com where you can sign up for the FBA Millionaire’s Club.

My name is Jeff Allen, along with Will Moffett, and our special guest today, Mr. Manny Coats.

Will M.:

Manny, so I have one more question for you here.

Manny Coats:

Sure.

Will M.:

And Jeff, by the way, I love you man. You- you’re just so awesome. Um …

Jeff A.:

Thank you, Will.

Will M.:

(laughs). You’re the man. So- So hey, Manny.

Manny Coats:

Yea.

[00:20:30]

Will M.:

Um, so what about competitive niches and competitive markets. Let’s just say I wanted to start a supplement brand and I wanted to start getting the, uh, um, some like creatine or something like that. Do you recommend that with the- uh. Well, of course, you got to have the budget to give it away, but it’s that something that you would recommend getting into?

Manny Coats:

No. Uh, uh if you’re starting out, you’re saying? If you’re just getting into this?

Will M.:

[00:21:00]

Ha- If you’re starting out of even if you’re really experienced, is- is, like … Because number one, the access to get to page number one is there.

Manny Coats:

Mm-hmm (affirmative)

Will M.:

But is there any cases where you may not want to be that number one spot?

Manny Coats:

[00:21:30]

Yeah. So, if- I would not even recommend somebody get into a highly, highly competitive industry or, or niche, right? Because the- You’re not going to show up anywhere. I mean, you’re going to be dealing with guys that are pulling in, potentially, millions of dollars per month in sales. They know this system. They’ve got crews in place. They’ve got systems and software and all kinds of stuff. And you’re just not going to be able to compete in most cases, right? I know a few people that are able to jump in to stuff and- and they, they tend to dominate no matter what they’re doing.

[00:22:00]

But when you get into supplements specifically, there’s a lot going on, right? You- you’re going to be dealing with hyper aggressive sellers. A lot of these guys are overseas. There’s a lot of s- You know? Shenanigans going on, um, that, where they can actually affect your, your account. Um. And I’m not saying that that’s going to be in, in every supplement case. You can go out there and you can create, you know, something for, for dogs, you know? Some kind of salmon oil or whatever. That’s probably a bad example cause it’s, it’s probably highly competitive as well, but whatever it is, um, a- as long as you really know what you’re doing and you’ve got the budget to do the right giveaways to start ranking, then you should be okay.

[00:22:30]

But if you’re getting into something that’s super highly competitive, you’re going to find out that in order to get to page one, you got to be selling, you know, 300 units a day or 500 units … Or you got to give away, let’s say, 2, 300 units a day, um, in order to get those rankings, and it just becomes cost prohibitive to, to a lot of people. You- you know what I mean? It’s like, it’s better to, to, you know, take off for a week and go- Start walking through some stores, you know, uh. Forget about even looking online. Start looking through some stores and find stuff that’s really interesting and cool and then if you find something that’s unique that you just haven’t seen, then come back to Amazon and check. And there’s- there’s a possibility it won’t even be on Amazon yet, right?

[00:23:00]

I mean, if you’re searching for things on Amazon, they’re on Amazon. But if you go to a store and you’re like, “Wow, I’ve never seen something like this,” then you can start sour- sourcing for it. Find it and, uh, in China or whatever it is that you’re going to be looking, and then get that thing- Get a version of that online, and then you don’t have that much competition, and- and it’s just easy sailing. You know? It depends on how much money you want to make, but I’ve got products where I’ve spent very little time, no competition essentially, almost no competition, um, and, it- they generate, you know, over $10,000 each in profit every single month.

Jeff A.:

[00:23:30]

I have a- a question, Manny, that is, is kind of a little bit more general as we kind of round out this edition of FBA Millionaires, and you is someone who has founded, uh, tremendous success, obviously, in a very short space of time, as Will Moffett has. What does it take? I mean, in addition to, you know, uh, higher page ranks and, you know, you- you’re selling these private label products, can you give us some quick takes as far as what you believe it really requires to be successful in this business. We’ve heard 2 million sellers, but maybe only 100,000 or so of them across the country are really killing it.

[00:24:00]

Manny Coats:

That’s a good question. I would say … Okay. First of all, you got to have the right personality, right? You can’t be somebody that hits a failure or, uh, hits a wall and just says, “You know what? I quit.” I- If that were … If I were like that, I would’ve- I wouldn’t be in this business, because the very first product I launched failed. Okay? And it failed and- and in numerous different ways. And it was a passion product of mine.

[00:24:30]

, the second tip, I would say, which I also failed in is, you know, do a lot of research on products, and going back to what Will said, you know, you know, should somebody get into a competitive product, m- The product, my very first product was competitive, but it was something I’m like, “Cool. This is a really cool niche. This is a cool thing. I found a- a place I could source it.” And, you know, because I was so excited about it I didn’t really pay attention to all the details. So, do a lot of research on the products. Find things that make sense. You know, look at the analytics.

[00:25:00]

It’s very difficult, especially if you’re starting out and you’ve got a 9 to 5 job and you’re trying to get into this business to have enough time to do everything so I would recommend the use of, of tools, you know. There’s a lot of free stuff out there as well that you can use, but, you know, if a tool can save you eight- If it takes two minutes for a tool to do something that takes you eight hours, than use that. Or hire a VA. You know? You can hire people for $4 dollars, $5 dollars an hour, you know, that can do eight hours of work for you …

Jeff A.:

Mm-hmm (affirmative).

Manny Coats:

[00:25:30]

Um, you know, what’s your time worth? So, start thinking about scaling. Do a lot- U-use those eight hours a day to learn. That’s the other thing is I’d say learn as much as possible. Listen to podcasts like yours. You know, talk to people. Go to events. Not just to hear people talking on stage, but to network. You know, kind of break out of your shell and, and talk to people. If you see somebody that’s interesting, you know, get in there and start talking to them because you’ll learn a lot.

I mean, we always say the deals and all that, and cool information in at the bar, right? When you- After the [crosstalk 00:25:48].

Jeff A.:

Right. That’s right.

Manny Coats:

[00:26:00]

Yeah. So, you- Those would be the things I’d say, uh, to do. You know, educate yourself, try to, um, automate as much as possible through services or tools or whatever it is. You know, don’t be send- sending an email to every customer manually, right? U- Use something like a feedback genius or- There’s a million services out there to automate all that, so spend a little money and, uh, I mean, it’s a business, right? I’m surprised constantly by how cheap some of the sellers are. They’re like, “You know what? I’m not going to spend $29 bucks on this,” and it’s a business that they want to retire on. How do you do that?

Will M.:

[00:26:30]

Yes. Exactly. If you opened up a storefront, you’re going to be paying tons of money from insurance to supply to the actual overhead. I mean, it’s ridiculous. And then when you can t- Look at Amazon and people don’t understand a thousand bucks or they don’t want to giveaway product, um, yeah.

Manny Coats:

(laughs)

Will M.:

You got to really reevaluate that.

Manny Coats:

[00:27:00]

You got to break out of that mindset. And even things like photography. I- you know. I started off- I- I took a photo with my phone, you know, and it was pretty good and I- I had a little bit of artistic background so I was able to make it work, but it wasn’t … It’s not fanta- fantastic. It’s not like hiring, you know, a studio, somebody that has a really nice camera that has that depth of field and- and those things can make or break your product so, and that- that’s not cheap to get a good, you know, a good photographer. It’s not going to be $20 bucks like on Fiver of whatever. It’s- it’s going to be a little bit more.

[00:27:30]

So I would say invest a little bit in your product. Think about it. Start with a budget also. This is- This is a killer, um. If you start- If you’re going into this with, you know, a thousand dollars to- to run your business it becomes super difficult to do it cause you got to buy inventory, you got to have enough inventory to- to do some giveaways or promotions, um, and if it starts to take off you’ve got to have your other order already placed so you got to have money to place that order. Otherwise, you stocked out, right? You run out of inventory. Now you place your order, you got to wait a month or two months or whatever it is, and it’s just a cycle that-

Jeff A.:

And that could-

Manny Coats:

[crosstalk 00:27:44]

Jeff A.:

Exactly. Not to mention having to- to pay the FBA fees and then the- the referral fees, and all the other stuff that comes a long with it.

Manny Coats:

Yeah.

Jeff A.:

[00:28:00]

And so you- you really do have to- to- to give that some serious consideration. Will, this was huge, man. And, uh, Manny, you’ve been, uh, terrific and we know with pipes like yours, you really got to- to- to have your own podcast, I think. (laughs)

Manny Coats:

I know. I’m working on it.

Will M.:

(laughs)

Jeff A.:

I’m probably the 15th guy who’s cracked that joke in the last 30 days, but Manny, we really do appreciate it. All the best of, of luck and success to you and your, uh, your business. Uh, with everything that you’re doing and, uh, we hope that, you know, you’d be willing to join us again so we can continue our chat with you sometime in the future.

Will M.:

[crosstalk 00:28:22]

Manny Coats:

Sounds good. I- I would love that. Thank you guys, for having me on the show. I appreciate it.

Jeff A.:

There’s you go. [crosstalk 00:28:26] It’s Manny Coats. [crosstalk 00:28:27]. Yeah man.

Manny Coats:

Thank you.

[00:28:30]

Jeff A.:

And, uh, ampmpodcost. com, Will, is the site to go to, and you’re going to learn a lot from Manny. Um, he- he’s all over the internet. Look him up and if you can get out to one of the events that he and his team, uh, host, you really need to take advantage of it.

Will, great find, again, Will, on your part.

Will M.:

[00:29:00]

Yup. And in- To add to that is very important guys. Um, most of the things I’ve learned about Amazon, like Manny said, you learn at the bar or you’re hanging out with friends. I’ve been to events where I’ve learned things that 10 X’d my business because I’ve sat at the bar with somebody who’s doing 20 million.

Jeff A.:

It’s like- W- w- Will, there’s a reason, man, they put all those cocktail napkins there.

Will M.:

(laughs)

Jeff A.:

It’s- it’s not to set your drink on, it’s for taking notes. I mean, that’s what they are.

Will M.:

And get them drunk. Let them tell all.

Jeff A.:

(laughs)

Will M.:

(laughs)

Jeff A.:

Well, wait a minute. We can’t actually tell people that, I don’t think. (laughs) But I understand what you’re saying. Could be drunk on the Coca-Cola or whatever the case may be.

Will M.:

(laughs)

Jeff A.:

[00:29:30]

[00:30:00]

But, uh, try not to put too much in there, but Will, no, seriously, what you say is absolutely true. You know, the people that you mix with, and uh, I could say that I’ve only been to, you know, one summit even so far in my short little Amazon tenure, uh, career here, and I’m still in touch with, uh, some of the people that attended and we’re just swapping ideas back and forth. We’ve got a, uh, closed Facebook group, and it’s just nite- nice to stay connected. To learn of each others’, you know, successes, no matter how big or small they are, to stay encouraged, and to bounce ideas off one another, and so, really, uh, great suggestion on- on your part and on Manny’s part.

Well, you know, it’s too bad. It’s unfortunate, we have to, uh, wrap this thing up but I really enjoyed myself, Will. Great job today on your part.

Will M.:

[00:30:30]

Yup. And if you guys, uh, want to get a discount on Helium 10, uh, go ahead and go over to fbamillionaires.com/helium10 and, uh, I would love for you to try that out. I’m pretty sure you want to be on the first page. Everybody does. If it’s not for the, the, the first place, or you want to be in the fourth place or sixth place, um, he can get you there. Um, in addition, we want you to go to fbamillionaires.com and sign up for the FBA Millionaires club. Get in the game. Lets 10 X it and crush it.

Jeff A.:

[00:31:00]

And don’t forget, also, too, uh, that while you’re, uh, out there be-bopping around you’re listening to our podcast, you’re over on iTunes. Make sure you give us a rating. Show us a little love, if you would. We would appreciate it, and by the way, you can also leave a comment there. Let us know how we’re doing. If there’s something that you would like us to cover, something that maybe we’re covering too much of if there is, uh, any kind of detailed information that maybe we’re not passing along that you think would make our show more interesting or help you in particular with your Amazon business. There might be others out there who feel exactly the same way, so please leave your comments, questions, uh, and, uh, give us a nice rating over on iTunes while you’re over there.

Well, it’s been great. Thank you so much, sir.

Will M.:

Thank you so much.

Jeff A.:

That’s a wrap on this edition of FBA Millionaires. Jeff Allen, Will Moffett. Looking forward to seeing you again next time. Take care.

Will M.:

Let’s go kill it guys.

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