Ryan Daniel Moran explains how to build on Amazon by finding products with high search volume but weak existing options, then improving them based on customer reviews. He made $7 million from a single product out of $8 million total revenue, showing how the 80/20 rule plays out in practice.
Amazon is amazing because you don't have to create demand. It's there, you have to fulfill demand. We just looked at it like, what are the things that most people are searching for and wanting and where is that an overlap where the product isn't very good? That's how we would choose the next products. I didn't know anything about any of the products, what we're doing to start with, and then I would just deep dive through the reviews and try to find a way to innovate on all the products. And that's what we did. We didn't just copy what was out there. We literally solve some problem. And if we couldn't solve a problem, we wouldn't do the product. But that's how we would figure it out. And you just really don't know which ones are going to hit when you're approaching things like that. You don't know how big the market is or what's going to explode. So the 8020 rule is real. In the end, we were doing about $8 million. And I would say 7 million was coming from one product.
