Minimum Investment – Amazon FBA 101 ๐Ÿ‘ฉโ€๐Ÿ’ป+ 121 Niche Ideas for 2018



watching job folks as you know I'm here in Bangkok these days Thailand chillin and as you know I've been fortunate enough to be able to be based out here in Thailand 11 months out of the year for the past 3 years because of this thing this little thing right here now of course there's many different ways that all my digital Nomad friends work remotely or have their online business but for me I happen to get into Amazon selling back in 2015 early 2015 after I came to the Nomad summit full dropship lifestyle conference anyway in Chiang Mai October 2014 so that's why most of my tutorial type videos are on Amazon selling because people ask me how do you do what you do Riley now Amazon isn't the only way to make money online there's totally tons of different ways this is just what I happen to do so I'm here to tell you guys my story about Amazon selling and because yeah that's why I get asked questions about now I have plenty of different Amazon or digital nomads that make money in different ways it just happens to be how I make my main income so one of the big questions I get is how much money does it take to start with start a real Amazon business now first of all it does take a good amount of money if you have no job and no money in your bank account Amazon is not for you check the links below two videos I have about other ways that my digital Nomad friends are making money with maybe smaller investment all I can say is my mom this last summer had a product idea and she put in eight hundred dollars to buy two hundred units off of Alibaba and six months later she is now making eight hundred dollars a month profits true story I got I got to do a case study on that someday now that was because she had a good product idea and what I'm gonna tell you guys in this video is it's less about choosing a best selling product and just throwing up a me-too product and hoping to get your little piece of the waterfall it's more about developing a unique product to stand out in the crowded amazon marketplace that is the online shopping world the biggest store in the world of course is gonna be crowded but the marketplace will speak for itself if you create and deliver an amazing product that people love and people give good reviews it's gonna sell and you're gonna make money because half of people half of things people buy online in America is Amazon so Amazon is ecommerce basically so my mom got started with $800 and is successful for first time she got a little bit lucky let's just call it half look and half really good idea so me and Parker back in 2000 early 2015 we put two thousand dollars into two hundred units because this is a more expensive product other people have gotten started with like five hundred dollars but Amazon selling and buying and wholesale in general is like a flip and bricks type of business so you buy low sell high so the more money you have the quicker you can flip that money let's say you have two thousand dollars initial investment that's going to get you more value of product that you can flip and hopefully double that into four thousand then buy more inventory so the more money you have the quicker you can scale but you can get started it's long and I always recommend you should start out with a test order of 100 or 200 or 300 units depending on the cost of the order yeah but definitely I would recommend starting within an a test order of from $500 to $2,000 but that being said cash flow is tight in this type of business especially if you're sourcing from China and the lead time is like a month or two months so you may need to go out like we did and get an initial investment from a silent partner to inject cash flow into your business that has proven the test order and help you buy more inventory to scale so that's what we did and that's what a lot of startups need to do is they come out with like a beta product less they test the market it sells the customers are giving great feedback then they say hmm alright how do we scale go to investors and get some seed money and bring them on as a silent partner or try to get a small business loan something like that but you can get started with the test order for five hundred to two thousand dollars that's what I say so another common question that I get is you know about niche selection product product research and I'm sorry to not even like the term product selection I'm changing it to niche selection because it's not like you're going on Amazon and you're choosing a product to sell you're choosing the niche and then you have to develop a unique product for that niche which is a whole another area of different ways to differentiate but since you guys have asked me for this type of thing I finally got my lazy ass to create a blog post slash ebook on 121 amazon niche ideas so you can click the link below to see this disclosure what this is not for is you to go through and look at Reilly's super good niche ideas and just to choose one and get started that's what not that's not that what this for I actually haven't even seen them I've looked at like maybe half of them what I did is I paid a VA that I've worked with for a while who gets it to go to Amazon and make me a list of 121 niche ideas 121 products that could potentially be good for private labeling opportunity okay if you want to see a video of me going through live and reacting to all of them click the links below that's gonna be a separate video that I'm just thinking

4 Replies to “Minimum Investment – Amazon FBA 101 ๐Ÿ‘ฉโ€๐Ÿ’ป+ 121 Niche Ideas for 2018”

  1. Hi Riley, good to see your doing well! I'm still in the FBA game, but just started documenting a "Merch By Amazon" project here on my new channel to see whats possible with it – no money upfront! Hope to catch up again next year in Chiang Mai to do some drinking and stretching in Zoe Yellow! ๐Ÿ˜€ Talk soon!

  2. I'm trying to become a digital nomad, I've created a website https://www.dustinborglin.com/ Its a really slow start, any advise? or how long does it usually take to start making money? thanks bro love the channel just subbed!

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