How To Make Your First $10k/Mo With Amazon FBA

Hey everybody, I'm Ryan Daniel Moran from capitalism.com we help entrepreneurs build businesses and invest the profit come profit with us. So today we're talking about your first $10,000 a month using Amazon FBA. Amazon FBA is how I really made my first real money as an entrepreneur. I started as an entrepreneur back in 2006. Oh my goodness. I'm old in Internet years.

If you follow a few things, getting to 10,000 dol a month can happen really quickly if you're talking about sales. But in this video we're talking about profit.

Making $10,000 a month in profit.

Because many of you who are considering selling on Amazon are not really interested in building a big big old branded business. You want to make $10,000 a month so you can live life on your own terms. And if you're going to do that the approach.

Than someone who is coming in and building a really big business. There are two different approaches now. A lot of my students are building up real brands that they're going to scale and sell for millions of dollars. That's a different approach than using Amazon FBA as a place to make cash flow. They're different approaches. So we're going to focus on the profit side of things so that you have that $10,000 a month profit as quickly as possible so you can be a full time entrepreneur.

Let's go ahead and dive in. Number one, more is not better. If you want to cross $10,000 a month in profit, you've got to go all in on one product first. It is very hard to take money off the table when you've got multiple products that you've got to fulfill invent. But if you've got one product that you are blitzing to high heaven, it's going to have higher profit margins. So when you get to that $10,000 a month mark, then you can consider putting more products in your line. But it's going to cost more money up front when you've got multiple products going on. So this is my advice. Don't launch a second product until you're doing at least 25 sales per line day. I say that you should have three to five products each doing 25 sales a day. That's about 100 sales a day. And at a price point of $25, that's about a million dollar business.

So you got to get to that 25 sales a day first before you can move on to another product. And if you're only interested in ever making $10,000 a month, then you might Want to just focus on getting that first product to 40 or 50 sales a day and then just hanging out, depending on what your goals are. Now, my style would be get it to 25 sales a day. Release product number two, release product number three. Release product number four. And guess what? I've got a million dollar business that I can now scale or sell. But that's up to you how big you want to go. Just don't move on until that first product is doing at least 25 sales per day. Number two, if you want to be profitable out of the gate, you've got to have a Rock Sol product launch. You've got to not just send it to Amazon and hope you make sales. You've got to launch this thing. Liftoff. We have a lift off. The only way that you're going to be able to do that is if you get your products in front of an audience. I've got another video that I will link below that is all about building an audience that buys. You can do it in about 90 days, but in order for you to really smash the landing and the Falcons have landed, you have got to have a successful launch. And that means you've got to be able to control eyeballs. You don't need a lot of eyeballs. You don't need to have millions of people following you. You don't even need hundreds of thousands of people following you. You need at least a few hundred people who are excited about your business so that they are buying from you at the very beginning and hopefully will come back and leave reviews. You can do this with Facebook groups, You can do this with email lists, you can do this with Instagram. You can do this with any way that you are comfortable communicating with people. Another alternate way for you to do this is to just partner with the person who already has the audience. If you know somebody with a Facebook group, if you know somebody with a blog, if you know somebody with a YouTube channel, if you know somebody with an email list, if you and you partner up together, they focus on the audience, you focus on the product. That can be a real, real magic formula to get to $10,000 a month very quickly. Did we just become best friends? Yep. Number three, in order for you to be able to take $10,000 a month off the table, you've gotta have a product with high profit margins. The only way that you're able to have a product that has high profit margins of 40% or more is for you to be a little bit different than everybody else.

This doesn't mean that you need to come out and invent a new product. It just means that you've got to be able to justify a slightly higher price than everybody else. The other option is to have a really, really cheap product, which is not something that I would recommend. It's a common stereotype, self perpetuated throughout history. Rich people are cheap. Instead, I'd recommend that you make a little tweak to your product so you can charge a higher price. Now on the extreme side, you have something like a microphone which is made from scratch, so that's obviously going to command a higher price. And on the extreme side of just knocking off what everybody else does, a MacBook case is not something that you would want to sell because it's really hard to differentiate that. You don't want to go on either one of those extremes. You want to be in a big market and have the product be just different enough for you to be able to charge a slightly higher price. I also have a video about criteria for choosing your first products. So if you want to know how to differentiate your product, regardless of what market you're in, you'll want to watch that video too. So in order to get to $10,000 a month more is not better. Focus on getting to 25 sales a day. First smash a product launch and you need a few hundred people to be following you in order for you to be able to do that and go after products with high profit margins 40% or better. If you do those three things then you can go all in laser. Focus.

On selling that product and making that $10,000 a month which is going to allow you to live the life that you want on your own terms. I have a training on this called Million Dollar Brands which will help you choose your first original products, bring them to market, launch profitably, and that training is actually free if you complete it. So you make a deposit and when you complete the training you get that back if you want it. So you can find more about that in this video. If you found this helpful, please subscribe to the channel. We do a ton of content for new entrepreneurs who are building businesses and investing the profits so that you create the life and create the change that you want to see in this world. I believe the world is run by entrepreneurs and so it is my privilege to help you overcome the obstacles that you will face on this journey. So make sure you subscribe to the channel. I also run a podcast which is capitalism.com with Ryan Daniel Moran. Subscribe to that, you'll really enjoy it. Thanks for watching.