FBAM8 Going global and saving money on International transfers with Jason Kumpf

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Podcast Discussion:

Avoiding Competition by entering the International Market
Products that sale internationally
Getting your bank account in international countries
Diversification
Integration to help you pay VAT Taxes
Amazon Australia

OFX Money Transfers- Save an extra 10% here

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Jeff Allen:

So you want to take your domestic Amazon business and share the love around the world with a global Amazon business? Well, our guest is dialed in to the international e-commerce scene, and he has some thoughts to help you get started. From the West coast to the world, this FBA Millionaires.

[00:00:30]

Welcome to FBA Millionaires. Good to have you back in. As you know, this is the program that is geared toward helping you pursue your goal of earning a seven-figure income selling professionally on Amazon via fulfillment by Amazon.

Hi, my name if Jeff Allen. Once again, glad to be with you and I’m glad to be with the big fella, this guy here in Northern California. He is just, uh, he’s chomping at the bit and always is at about this time. And let’s speak to a Will Moffett. Will, big shout out and hello, guy. How you doing?

[00:01:00]

Will Moffett:

What’s up, Jeff. Everything is wonderful, man. Um, it’s rainy. It’s gloomy but we’re making money.

Jeff Allen:

You know, it never rains in Southern California but, uh, Will is up there, he’s up there in north central California. And uh, send some of that stuff down this way, man, because you know how it is with the whole drought thing. And uh, it always seems like, uh, you know you have your fires, your earthquakes and stuff and not enough rain in the Golden State, so share some of that love, will you?

Will Moffett:

Definitely. I’ll share some. Jason is in the Bay Area also.

Jeff Allen:

Oh, there-

Will Moffett:

San Francisco.

Jeff Allen:

Yeah, man. And he’s our guest today, right?

[00:01:30]

Will Moffett:

Yes. Jason Kumpf. What’s up, Jason? How’s it going?

Jason Kumpf:

All good. Thanks, guys. Thanks for having me on the show. Really excited to be on here. Try to keep up with the energy and feeling, um, really loving it so far. So hopefully we can, uh, educate the guests on some interesting new things to make some extra easy money on Amazon Global.

Will Moffett:

Oh, there we go. That’s what I like to hear. I like to hear easy … extra. (laughs)

Jeff Allen:

(laughs)

Jason Kumpf:

Hey, those are my two favorite words. [inaudible 00:01:53] Easy and extra.

[00:02:00]

Will Moffett:

I like it. I love it. Me and Jason, we’ve been … um … talking a lot lately uh for maybe I guess, maybe the past year or maybe more, uh very cool guy. We hung out in Las Vegas a little bit. Um, at the Prosper Show. And, um, it’s just such a pleasure to connect.

Jason Kumpf:

Thanks, Will. Really appreciate it. Yeah, I saw Will doing the 1,000% hustle at Prosper trying to give out as much money to people as possible. And, uh, that was a, a big impression on me, Will.

Will Moffett:

(laughs)

Jason Kumpf:

So I appreciate the energy you bring.

[00:02:30]

Will Moffett:

Thanks so much, Jason. I appreciate it. So, enough about me. Let’s talk about you, Jason. So Jason … you work for OFX, which is a currency exchange. Wonderful company. And, uh, you help people transfer money and make money globally.

So, tell me a little bit, uh, little bit about you guys. How does it work, and, um how do you help Amazon sellers?

[00:03:00]

Jason Kumpf:

Yeah, sure. So OFX Global Payments: we, uh, help people transfer money around the world at better foreign exchange rates and give people bank accounts globally around the world that they can receive their Amazon proceeds in … and then transfer those funds back to the US at better rates than even Amazon’s giving them from the Marketplace.

[00:03:30]

Um, so Amazon will charge 3.5%, 4% when you send funds back from your Euro store … your Pound store … your Canadian store … soon to launch, your Australian store, which we can talk about later on.

[00:04:00]

Uh, we’ll do that for, depending on your volume, for 1.5% or less. So, it’s an easy 2%, 2.5% savings every transaction you’re doing. We’re free to set up, so there’s no other costs. So the net-net to the business is about $2,000 … $2,500 in extra top-line revenue and profits on every $100,000 they send. For about 10 minutes of their time. So we’re easy, extra, and free.

Jeff Allen:

Man, there’s nothing wrong with that. It is great, absolutely. You know, Jason, I- I wanted to ask you a little bit about, you know, you work obviously with Amazon sellers here in United States, going out wherever they’re interested, really, in selling, but I’m assuming that you probably have certain parts of the world right now that are especially attractive. Who are the people come up to, or- or I should say the people who are coming to you, where are they interested most in doing business right now from what you can see?

[00:04:30]

Jason Kumpf:

[00:05:00]

So, the Americans are most interested in going to Europe, you know, Germany, France, Italy, uh, and the UK. Canada as well. And Australia’s launching some-, uh, sometime soon so that’ll be another English-speaking place they can go to. And some clients actually were big Amazon sellers locally in the US, they’ve actually stopped their US Amazon business and are only doing their UK, Germany, France business on Amazon. And the reason is, is because in the US there’s a lot of sellers. Um, and a lot of sellers who know the game and understand the dynamics of being a, a seller on Amazon in the US.

But if you’re a compete- if you’re launched in Amazon.fr for Amazon France, you’re competing against local French guys that don’t understand the Amazon game, as well as your American counterparts. So they’re going crazy growing their business … I’m talking about tens of millions of dollars in revenue.

[00:05:30]

Jeff Allen:

This is really an unexploited opportunity right now as far as … you know, a- a great time, uh, and chance for people who want to grow their Amazon business to get started by going global because really there’s just not the understanding by the local sellers in foreign countries about how Amazon works. And there isn’t a mad rush right now on the part of American Amazon sellers to … expand internationally. Is that right?

[00:06:00]

Jason Kumpf:

100%, that’s exactly what it is. And there’s probably … a few months runway, maybe a year, but the sooner you just launch a France store, Germany store, UK store, the better. Get it going, figure it out a little bit, because it’ll take you a little bit of time to kinda get it up and running. Um, but then you’re gonna be in a much better market, um, than elsewhere, than even in the US, uh, depending on your store and, and what you’re selling. But um …

Will Moffett:

Jason, I’m sold. Nothing else said, I’m sold. Podcast over, let’s go make some money. (laughs) No, I’m playing.

[00:06:30]

(all speakers laughing)

Jason Kumpf:

Really, it’s really that easy. And we make it, the- the big difficult part, just think of going global as a small business, right?

Jeff Allen:

Yeah.

Jason Kumpf:

[00:07:00]

You used to have to set up a company, get a bank account, do all this stuff, obviously the FDA is huge portion of making it easy for you to go global. And people just aren’t thinking about that as much. Oh, US, sell it here. But, you know, all those other elements are … are gone, now. Like, we help with the bank account– done. That’s two days you gotta, you know, UK Pound bank account. Two days– you’ve got, you know, a Germany euro bank account. Two days you’ve got a CAD Canadian bank account. So that’s a huge one. The FBA from Amazon solves all your shipping, uh, you don’t need a company there, so you’re off and running … you know, in a few days, on- on Amazon global.

Jeff Allen:

It just sounds like there aren’t any barriers to entry any more. I mean, it really does … as long as you’ve got the commitment, you’ve got the products, and you’ve got the will to … to, to move forward and blow up your business big time, uh,

Jason Kumpf:

Yep.

[00:07:30]

Jeff Allen:

That, that it’s easier now than ever. What are the … what are the selling trends that you are seeing right now, uh, Jason from where you sit and from the companies that you work with and the business owners that you work with. Uh, what’s hot right now, internationally, those markets that really seem to be kicking butt at this time?

Jason Kumpf:

You know what’s great? It’s basically the same things that are hot in the US. I think the majority of the world consumers are way more similar than they are different.

Jeff Allen:

Interesting.

[00:08:00]

Jason Kumpf:

There’s probably an 89% similarity. People buy iPhones, they need iPhone cases. People buy the Pixels, they need the Pixel cases. People need headphones … people buy makeup, people buy vitamins, it’s the same the world over, really. Um, there’s a lot more uni- global uniformity in what everyone’s buying, and that’s why Amazon’s doing so much- doing so well, right? Because they’re riding that wave, too.

[00:08:30]

People are buying online. That, you know, 20 year ago, that was unheard of. And just 10 years ago, only in the US did you have eBays and Amazons and stuff like that. But that’s now everywhere, right. You’ve got Alibaba in China blowing up, and it’s just, everyone’s online, and everyone’s buying the same stuff. These global brands, they’re global brands selling Nike shoes to everyone around the world. So there’s no magic thing, there’s no, some, oh I need to know about this one little thing in this market, in France they have croissants that are done this way, it doesn’t matter. 99% of products are the same stuff you can buy in the US.

Jeff Allen:

How about that.

Jason Kumpf:

And you sell in the US. So that makes-

Will Moffett:

That is really interesting.

[00:09:00]

Jason Kumpf:

-it really easy. And we’ve got cheap stuff here in the US, right? So you can buy stuff, you know, clients are buying stuff from, uh, you know, all these stores that are going out of business all these. All these retail locations that are going out of business.

Jeff Allen:

Mm-hmm (affirmative).

Jason Kumpf:

The Sears, the, uh- uh the Toys R Us, all these places have clearances. And we’ve got clients clearing out the clearances and reselling those on Amazon in France and Germany, so …

Will Moffett:

So that goes to my next question: so are people private labeling? Or wholesaling, doing retail arbitrage? What-

[00:09:30]

Jason Kumpf:

All. All of the above. Just like in the US.

Will Moffett:

All of the above.

Jason Kumpf:

They’re reselling, they’re private labeling, they’re doing the arbitrage, it’s the same, it’s the same techniques. That’s why it’s working so well, because if you’ve been doing it for … a year or two in the US, you’re … you’re 10 years ahead of the guy in France that just ran a retail store and is trying to figure out how to go online with it. You know?

Will Moffett:

[00:10:00]

Hmmm. Got it. I know I had a friend in the past, um, that, she, uh, she had a difficult time, but she actually sold groceries in Europe. She did, uh, she brought groceries here and sent them over to Europe. And I …

Jason Kumpf:

That’s probably one of the harder ones, too.

Will Moffett:

Yes.

Jason Kumpf:

Like, perishable goods? That, that’d be the only one I’d say maybe don’t do.

Will Moffett:

(laughs)

Jason Kumpf:

So, that- that’s how easy it is. If you could do perishable grocery? I mean, that’s what … a five day life span, maybe two weeks max? If you could do that, um, then your iPhone cases and stuff like that, which last for at least a year or two or three years, um, you’re gonna do a lot better on. Right? So …

[00:10:30]

Will Moffett:

That’s amazing.

Jeff Allen:

Jason Kumpf is with OFX currency exchange and you’re listening to his conversation with Will Moffett and yours truly here on FBA Millionaires.

How does your company, and you touched on this just a little bit, because what … you talked about the fact that really, there aren’t the barriers to entry into the global marketplace that there once were.

[00:11:00]

But, what is probably the- the one or two or you can even go on, you can talk about this for, for longer if you wish, the- the- the services that you offer that really end up saving your clients FBA sellers, Amazon sellers, the most money? The types of things that, really, they’re no-brainers when we get to know what your company does.

Jason Kumpf:

[00:11:30]

Yeah, so I’ll give you a quick overview of us, too, right? So OFX Global Payments, we’re one of the largest online providers of international bank accounts and international transfers. We’ve done over $100 billion dollars in transactions. We’re publicly traded, uh, we’ve got offices in Australia, Hong Kong, US, Canada, UK, uh, so we’re 24/7 operation so if you have any questions or comments, you can always call us. We’ve got live operators and obviously online and the app.

[00:12:00]

We’re regulated all over the world when you’re dealing with people’s monies. You want to make sure that everything’s regulated. So … and we’re all one shop op. So we do everything- all in-house, no outsourcing. We’ve got 18 different banks we work with: Bank of America, Wells Fargo, Barclays, Deutsche Bank, uh, UBS, the top main banks you can think of. So al monies are in those banks.

[00:12:30]

Uh, what we do, is we give a US Amazon seller a Pound Account in London, a Euro account in Germany or France, a Canadian account in Canada, that they can up- they can upload into their Amazon seller essential platform. And have Amazon disperse their, let’s say euros, once they’re selling, you know, they’re (laughs) groceries in France, and they’re making $100,000, let’s say a month or a year or week or day, uh, and we give them that bank account and then we transfer that funds back for them automatically and quickly. And we save them about two to two-and-a-half thousand dollars on each transfer.

[00:13:00]

So if you’re an active client now doing $100,000 a month in France, we can add about two and a half thousand dollars to your bottom line. Really, for ten minutes of their work. So it’s a real easy … no brainer.

Jeff Allen:

Yeah, that tremendous savings makes a huge, huge difference. And again just the fact that it’s easier now than ever and you can save money at the same time … Will a great idea and one that out there right now, uh, many Amazon sellers are beginning to take advantage of so that they can spread their business globally.

Jason Kumpf:

[00:13:30]

Yeah, and then the other angle, what we offer, too, and especially our core function, is paying suppliers. So if they’re buying stuff from China, from Canada right now you can buy a lot of stuff, if you’re American group, the CAD US is in your favor. So the Canadian currency is lower compared to the US dollar. So for instance, maybe a year and a half ago, it was one to one, so for every one dollar you had you got one dollar of Canadian. Now for every one dollar you have that equals one point two … something Canadian. So you’re, you got a 20% … uh, discount, basically, for anything you buy out of Canada.

[00:14:00]

So if you’re buying Canadian goods and selling them in the US, you’re getting a 20% discount doing that and we help you just pay those people in Canada with those, uh, … from US dollars to Canadian dollars. Or if you’re buying directly from China, then we can help you pay for your- pay your suppliers in China. Or really anywhere in the world. That’s what a big bulk of our business is, is small-medium size companies paying suppliers around the world.

Jeff Allen:

That’s really interesting–

Jason Kumpf:

Or paying developers.

Jeff Allen:

It’s like having-

Will Moffett:

Now that’s a gem.

[00:14:30]

Jeff Allen:

Absolutely, Will. It’s like having your own mini accounts payable department in there.

Will Moffett:

In the arbitrage there, the currencies … oh my goodness. The 20% discount … never thought about it, Jason.

Jason Kumpf:

[00:15:00]

Oh yeah, that’s huge, too. So we’ve got client, you know more savvy clients, that want to lock in rates that they feel the Euro’s high right now, so they want to lock in … increased profits from their European stores now. Um, or lock in lower rates when they’re buying stuff from Canada. So we allow clients to do that as well. So you can have this great Canadian-US dollar rate for another year plus with us. So, that can be a big benefit. Because if it goes back to one to one, you’re still getting the 20% discount but then someone who’s coming new to the market, say no I want to buy in Canada, you’re getting a 20% discount to them, at market.

Jeff Allen:

Wow.

Jason Kumpf:

[00:15:30]

Which can be huge, too. And our dealers will walk you through and kind of give you a lot of information on what’s going on in the currency markets. We won’t advise, but we’ll give you very- a lot of information so clients can make good decisions … informed, educated decisions. Which is just massive, you know? It’s just awesome.

… I love working here. It’s a great place. It’s a guaranteed win. You know, everyone we work with, it’s a guaranteed win. They only use us because they’re instantly gonna save money. Which is a great … you know, not that many companies can do that. Usually you pay up front and then hopefully you get a return on the back end. This is, don’t pay anything. Pay ten minutes of your time, and instantly save.

Jeff Allen:

[00:16:00]

I can’t understand why people wouldn’t want to go with your business and Jason, really, when you get right down to it, the last thing we want to do is … we want to have a headache. Something that we worry about when we go to bed at night about growing our business and taking it globally when we’re kind of led to believe that yeah, okay, it’s fairly easy. You know, people overseas want these products just like, uh … your, your American customers here do. But, uh, well it’s not going to be necessarily as easy to do business over there to take and grow.

[00:16:30]

But from everything that I’m hearing from you, it really is easier today now more than ever when there are companies like yours, uh, around, and it’s really a godsend, it sounds like a great idea and something that we’re gonna continue to learn more about as we continue our conversation with Jason, Will Moffett, and Jeff Allen with you on FBA Millionaires. And coming up, our conversation with Jason Kumpf continues after this.

(music)

[00:17:00]

Speaker 4:

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(music)

Jeff Allen:

[00:17:30]

You know the first thing you need to do after listening to FBA Millionaires is to join the FBA Millionaires’ Club, a very exclusive club. We don’t walk around wearing monocles or drinking expensive champagne or wearing expensive shoes or anything like that. It’s all in good taste, all in good fun, and, of course, that favorite word of everybody’s … free … applies here as well because it doesn’t cost you a cent to join and in fact you don’t have to be a millionaire to join.

[00:18:00]

All you have to do is drop by fbamillionaires.com and look for FBA Millionaires club. Sign up, stay connected to what we’re doing here on the program, you’ll receive also, too, some free tips and guidance. You’ll receive some updates about what’s coming up on future editions of our program, and maybe some surprises we’ll throw in there, your way, as well. And its all for just becoming a member. Once again, join the FBA Millionaires club at fbamillionaires.com.

[00:18:30]

Welcome back to the program. Jeff Allen, Will Moffett, and our guest, Jason Kumpf. Ah, and, uh, really enjoying this conversation. Will, great find another great guest on this show, really trying to help us, uh, put our arms around this idea of growing our business globally and helping us to understand, too, that it’s really a little bit easier than maybe we had thought originally to take our businesses beyond the shores here.

Will Moffett:

[00:19:00]

Definitely. And so Jason, everybody, is the man that’s gonna take us into the international promise land. So I have a question for you, Jason. You talked about a little bit, um, how the products here in American, that, … people in international countries, they pretty much want the same thing.

[00:19:30]

So, for the sellers looking to get into international markets, I know there’s different type of … it might be the same product but different … uh … maybe type of plugs, let’s just say, for example, electronics products or … you think they like the same, uh, maybe, er, okay we’re talking about perishables … candies? Or maybe chocolates, right? Or maybe … that can’t be sent in the summer, maybe the winter. But the products are pretty much the same. Let’s just say like a pet item. Would it … it all works the same?

Jason Kumpf:

[00:20:00]

Yeah, it all works the same. And there’s a big demand for US products, actually, so we’re still … you know … kind of the cultural economic leader. Um, so people like what we’re liking, anyway. You know. That may change over the next couple decades with China, maybe emerging as the new cultural and economic leader, but right now, you’re sitting, you know, as a US-based group or seller, you’re sitting in a place that everyone kinda wants the same stuff that you want. You know, thinking iPhone stuff is American based, you know. Even Android although most of the phones are made abroad, it’s really a US-based entity, as Google, you know, and what they’re selling … so yeah, I mean, it’s … it’s a lot easier than you think.

[00:20:30]

And even for the plugs? Uh, you know, we have some groups that sell US electronics, and then they say, you know, they add on the adaptor. Here’s the adaptor to make it work in- in Europe. Obviously if you can get the European version that’s probably a bit better, but, um, you can do tests of- of- of a product with the adapters. They have those readily available, and those are cheap, too. So …

Will Moffett:

My mind is going wild here. I’m like, thinking like, fashion. If you can get European fits over down there, oh my goodness. It’s, it’s, it’s it, it, it sounds fun!

Jason Kumpf:

Yeah.

[00:21:00]

Will Moffett:

So, wow, so okay. Let me as you this …

Jason Kumpf:

I don’t-

Will Moffett:

Oh, go ahead?

Jason Kumpf:

Yeah, and it diversifies you too, right? If something goes down in the US, you’ve got other … other places to sell your goods, right? You could even have it as a secondary where, hey, you’re selling it on your US store first, then if it doesn’t sell, then you’re trying to sell … maybe up in Canada, you know? Or in the UK. Or in the rest of the world, right? So it’s great to have, just have more people looking at your stuff, you know?

Will Moffett:

Mm-hmm (affirmative).

Jason Kumpf:

For no extra cost, right?

[00:21:30]

Will Moffett:

Got it!

Jason Kumpf:

Do that now!

Will Moffett:

I want it! (laughs)

Jason Kumpf:

You know what I mean? [inaudible 00:21:34] sales what’s it’s about. Before someone else does it and gets there before you.

Will Moffett:

Exactly.

Jason Kumpf:

Basically the message.

Will Moffett:

Got it. Oh man. So, knowing what you know, if you were an Amazon seller and I don’t know if you are now, what steps would you take to take advantage of the international market? What would you do … to conquer?

[00:22:00]

Jason Kumpf:

[00:22:30]

So, I would … if you don’t have your Amazon store set up, uh, in Canada, UK, Germany, France, Italy, do those as soon as possible, right? Re-do your existing store basically there. Put up at least 10 items on each of those stores, and get it launched. Get them all launched, right? That’s the big thing is, don’t- don’t have the inertia … that doesn’t allow you to go forward. So get those things launched. Do the translations, you’ll need those for Germany, France, stuff like that. But for UK, Canada … you won’t. Um, and that’s the big thing, I think. Get it going.

And then once you’ve got it going, then you wanna optimize, right? So that’s where we are. We’re an optimizer for you, so we can be there from the beginning if you- if you don’t have a store. If you already have a store we can optimize your- your revenue with our product, obviously. But I would say that’s the big thing. Get it going, and launch.

Jeff Allen:

Gosh-

Jason Kumpf:

[00:23:00]

First to market means [inaudible 00:22:55] earlier to market means a lot, especially … the realities on Amazon … the sooner you get out there, the better.

Jeff Allen:

What is some mistakes that, uh, people can make in the international markets, or just as they’re getting in, and maybe these are the kinds of mistakes that you’ve seen happen over and over, they’re fairly common. Are there certain things that we need to avoid out there that other people have, uh, done in front of us that we should be learning by?

Jason Kumpf:

[00:23:30]

Yeah, I think, uh, trying to maximize from the beginning is what you wanna do. Obviously the VAT tax is big in Europe now, so we’ve got an integration to help you pay your VAT taxes, so you kinda don’t have to worry about that. That happens automatically, obviously everyone kinda knows the whole story of, of, uh, that tax and the Europeans getting mad at the Amazon sellers, and Amazon not paying tax in Europe, which that’s probably the biggest one. That’s probably the biggest headache … I think a lot of groups have seen, a lot of sellers have seen. But that’s now, uh, coming to kind of an end. And there’s a lot of automated ways to … make sure you pay that.

[00:24:00]

[00:24:30]

So, learning those tools and, you know, that might be one tool you haven’t used … as a US seller. Um … so that’s probably a tool that you need to use going forward. And like us, we’re a tool you probably haven’t used as a US seller, but we’re easy to use and kinda integrate with your store. So knowing those … you know, 10%, 20% difference that you’re gonna have to adapt to when going international and using those and using, you know, a lot of the services are really low-cost, free, or pay per performance, so it’s not a real … you’re not paying a lawyer $20,000 to make a new entity and stuff like that. You’re paying as you’re getting revenue, really. Which is great.

Will Moffett:

[00:25:00]

It might make a little … bit of sense here, Jason and Jeff, because think about it, right? Less competition … means I do not have to press the PPC button. So even if I have a tax of, let’s just say 20%, generally you can be paying 20% for pay per click. So if there’s less competition and I turn off PPC, it might be the same revenue with less competition. I love it!

Jason Kumpf:

Yeah. And just you know, just PPC, you know, if you understand that world, you’re gonna be more efficient at it, than maybe your French or Italian or Spanish counterpart, right? Right now in the US, people who are on Amazon using PPC to get those clicks, to get those buyers … it’s a sophisticated, uh, market here. Right? It’s not as sophisticated there. So things like that will be a lot lower, if needed at all. If you get in early enough, right?

[00:25:30]

Will Moffett:

That’s right. I know I had a friend, a few years ago, that I met in the Facebook group when I first started, and he was generating $300,000 per month in Japan.

Jeff Allen:

Oh!

Will Moffett:

[00:26:00]

I- I- I was amazed. But I never really still … I never thought about going international. But he kinda … made me want to go that route, but it was so much money in the US market that I just didn’t want to bother at that time, but, you know, this is just money laying on the table, guys. FBA Millionaires, come on, guys. I think this is something to- (whispers) actually, let’s keep it a secret).

Jason Kumpf:

(laughs)

Jeff Allen:

(laughs) Yeah. Well I think the secret is out, now.

Jason Kumpf:

A lot of people want it, right, but it’s out. The reality is Amazon’s just totally disrupted … the small business, international, uh sales process. Of delivering goods … which is just amazing, right? It’s just so amazing. So yeah, jump on it and go global. I call it good great global. You know?

[00:26:30]

Will Moffett:

(laughs) Good great global. I love it.

Jason Kumpf:

And you can do it! We got mom and pops doing it … started doing a few thousand a month … in their US store, a few thousand on their France store, and now they’re doing tens of thousands, hundreds of thousands, you know we’ve got clients doing over $100,000 a day.

Will Moffett:

Whoa.

Jason Kumpf:

Yeah. It’s crazy. So from the range of just a few thousand to- to- multi millions a month.

Will Moffett:

Got it.

[00:27:00]

Jason Kumpf:

Buyers are there. The clients are there. You know? And so the US, we’ve got 330 million people, so start doing the math, right? How many of those are actually Amazon buyers? Maybe it’s 100 million. Europe’s got a population of 430 million, UK’s got another, what, 60-something million? So you’re more than doubling your audience.

Jeff Allen:

Yeah, it almost makes you crazy for not doing it, Jason.

Jason Kumpf:

It’s like saying, “I’m only gonna sell to the south or the north or the west coast or the east coast” of the US.

[00:27:30]

Jeff Allen:

Yeah, why be content with tens of thousands of dollar a month when you can take and triple, quadruple, or even better than that … improve your stakes in generating that monthly revenue, improving your profits, and really scaling up your business very, very quickly by going, uh, across borders and doing it effectively and very easily, really, with the types of tools that you provide, um, the services you provide, for your clients over there for Amazon sellers.

[00:28:00]

Any particular resources or anything like that, Jason, that you could recommend to us in order to learn more about selling overseas or to help us get started? Just thinking about selling on the international marketplace if not from your own company.

Jason Kumpf:

[00:28:30]

Uh, yeah. So we’re putting together a resource hub for going global international. I don’t even know that URL yet. That’s still being, uh, made. But you can go to our site, OFX.com and there’s a space for online sellers and kind of read more about what we offer and how we do it and sign up. You can use my name, you’ll get an extra discount. Jason Kumpf. You could actually say FBA Millionaires or, or, Will from Upfund and you’ll get a discount. And kinda go from there.

Jeff Allen:

Cool.

Will Moffett:

[00:29:00]

Definitely, you know, guys, this reminds me of the book, I don’t know if you guys have read it, but The Blue Ocean Strategy. This was an awesome book and it talks about how when everybody crowds up, um, and, and sometimes there’s no money to be made. But if you look at the, the blue ocean and how clear it is and you see nothing in the horizon … that’s the opportunity to make-

Jeff Allen:

Yep.

Will Moffett:

Tons and tons of money.

Jeff Allen:

Yep.

Will Moffett:

So if you guys have the opportunity, go check out that book, Blue Ocean Strategy. It’s by W. Chan Kim and Renee … oh I can’t say the last name … last initial M. Check that out and, and you guys wouldn’t be sorry. You might want to apply that to your international strategy and kill it.

[00:29:30]

Jeff Allen:

[00:30:00]

There you go. I think it’s a great idea, Will. And Jason, we can’t thank you enough, man. A great conversation. OFX.com is the name of the website. Jay- Jason Kumpf has been with us today to tell us all about giving us his perspective about getting into the international market place with your Amazon business. You might be content with how well you’ve been doing right now. And you might be thinking you’re on easy street, but, you know, for heaven’s sake, if you have the energy, if you have the resources, if you have the will to do it, to expand your business and go global, why wouldn’t you do it? Think about the other lives in your life that you could change. Other people’s lives in your, maybe your family, or, or loved ones or maybe your community you could change with the extra funds that you generate. The profits that you generate by having a successful, wildly successful Amazon business that includes not only your customers here in the United States, but elsewhere around the world.

[00:30:30]

And Jason, just can’t thank you enough, man. We appreciate you jumping on with us today, it’s been a great chat and we hope to have you on again.

Will Moffett:

Thanks so much, Jason.

Jason Kumpf:

Thanks, guys. Really appreciate it.

Will Moffett:

You’re the man.

Jeff Allen:

He is the man. Will, another great job. Thank you so much. I really enjoyed it. This was a great show today.

Will Moffett:

Thanks, Jeff.

Jeff Allen:

[00:31:00]

That’s a wrap on this edition of FBA Millionaires. Thanks again to our guest Jason Kumpf from OFX Currency Exchange. And don’t forget to check out his website at OFX.com. And don’t forget, by the way, to stop over at iTunes, will you? Do us a favor: share this program with someone that you know you like. Even share it with an enemy, I mean it could be anybody at all, we would appreciate that.

Will Moffett:

(laughs)

Jeff Allen:

By the way, give us- us a nice rating over there in iTunes if you like the show and if there’s something else that we could do, maybe something that we could, ah, a topic we could explore in greater detail for you, if you’ve got a suggestion for a guest to have on this program, you can drops us a line. And Will, I think they can do that simply by, correct me if I’m wrong, visiting our website at fbamillionairs.com. Isn’t that right?

[00:31:30]

Will Moffett:

That’s the right place, Jeff, that, haha, drop everything you’re doing now. Go, go, go! Www.blah blah blah dot fbamillionairs.com. (laughs)

Jeff Allen:

[00:32:00]

And do that and you’ll be helping us and you’ll be helping yourself because we want to make sure that we can helps as many people as we possibly can. This show is for you. This is show is about our businesses, and that’s working Amazon of course, and uh and really opening up great opportunities for others, and taking your already successful business and taking it to new heights. That’s what we’re all about. So … for Will Moffett, I’m Jeff Allen, we appreciate your listening and we can’t wait to talk to you again on another edition of FBA Millionaires.

Will Moffett:

Let’s kill it, guys.

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