Amazon Reseller and Infinite Banking In Canada | Wealth Without Bay Street Podcast

There we go.

Okay, we're live. Where am I looking up here? Hey, Facebook's. Hey, YouTubes. Happy Friday. As always, it's Friday. Welcome to another episode of Wealth Without Bay Street.

I love how always it's Friday and anyone could be watching this literally on a recording at any day.

Yeah, they're like, what are you talking about? It's Tuesday afternoon. Like, God, what do you mean?

It's like every day of Friday in this guy's life. What's the deal?

So who do we have with us? Well, I'm joined by, of course, my amazing co host and colleague, friend extraordinaire, Mr. Richard Canfield. Now I was doing a wrestler impersonation earlier.

All right, Richard. All right, Come on. Richard Canfield. Yeah.

Ibc, apparently, the Macho man. Randy. Ibc. Sad. He showed up to the podcast.

He did, yes. And we also have Jonathan Prue. Now, Jonathan, in addition to being a Muay Thai expert.

Yeah, I said I'm sitting a little close to him, a little scared that, that if I off the rails, I'm gonna get Macho Man Muay Thai smashed in the face.

And in addition to being Master, Faster.

Master, I hope the audio comes through properly with that recording on that.

And he's also Canada's number one Amazon resale coach provider expert. He's also been called Ninja Samurai, King of Amazon.

I.

He's. He's just a super amazing Amazon guy. Mr. Jonathan Prue, welcome to Wealth Without Bay street again.

Welcome back.

And, and we've, we have fixed the audio issues because I think was Jonathan our first guest?

Well, Jonathan was the first guest that we had in here and it was like the same day or like the day.

It was the day that we got everything.

We got this thing and testing things out and like we should, we should record something right now, Jonathan. And was. It still worked out. The content was awesome on the last episode and we've got a lot of.

Good feedback on that for sure. Now we get asked all the time, Amazon, what's the deal? What's the deal? Jonathan, talk to us about, talk to us about what we got going on.

With Amazon and more importantly, share with the people watching and listening. Why might they want to consider creating an extra stream of income or something by becoming and learning about the process of selling on Amazon?

Sure. First off, I'd like to say thanks for having me here. It's always great to be in a room with you guys.

You're welcome.

A little bit about Amazon, logistically, kind of how it works. So basically what I Do is I wholesale brand name products and I leverage Amazon's platform to do most of the fulfilling and shipping to customers. And as long as I can find a cheaper discount at a wholesale price, we can usually find some profits in between. So that's kind of a short.

The jelly in the sandwich.

Yeah.

You're checking the numbers the BSR to make sure the juice is worth the squeeze.

Yeah.

And full compliance. Full compliance. Disclosure. I think we have to disclose as we do on each video, but we also have a prep facility, Canada Prep and Ship, which is a warehouse that moves a lot of product. A lot of product. We do a pretty good job at it too. The Amazon business is a great business. It's a great way to. One of many ways to build wealth without Bay Street.

I would have to agree.

You know. So Jonathan, what has, what inspired you to. To go down this Amazon journey and take us, maybe take us a quarter or two into the future. So what do you see going into the rest of this year? So what inspired you to, to go down this path? Because this was not the business that you were in three years ago. So what inspired you and what do you see for the remainder of this year?

Okay, so most of the time when I get that question of what inspires me to do something else, it's always. Is control is really what it always came down to. Maybe if I didn't know at the time what I wanted, it was ultimate control. I'm from an oil and gas background, which you know, money is okay and all that stuff, but zero control when it comes to when you can go where you can go, you know, all that kind of stuff. So I always kind of had the entrepreneur mindset I had, you know, I had my long term goals set up, I've had my policies and I had some real estate and stuff like that. But you know, the only thing I had to focus on a day to day kind of was my career. And at one point I thought that that was the end all be all. You know, when I came to Alberta I was like, well you know, if I can get a journeyman and get this 10 and 10 gig, I'm set up for life, you know. And sure enough once I got there I was like, you know, maybe it's not all as cracked up to be, right? So I guess just getting older, realizing that time and value with the people you want to be around is so much more important than money almost all the time. So I just had a really, really strong urge to have the control I wanted to not have to be 65, still going to work, because I had no other choice. So I just kind of. I just had a deep burn for it, really. Just to get out and not have to get like, I don't wake up to an alarm anymore. I do my own thing in the morning. I kind of make my own rules. I work on myself first, then I work on the business, you know what I mean? Those types of choices, I guess, are ultimately why I was so motivated to eventually break out of the traditional workforce, I guess.

And how did that make you feel when you made that transition?

Well, it was. I guess it was a mixture of being obviously very proud and. And a bit of fear. Yeah, obviously. I mean, like I said, I had worked eight years of my life in the oil and gas. I had finally made it to this 10 and 10 maintenance gig.

Basically, pick and choose, any job that you want.

Just relax. My buddies, the foremans, I know all that. We're just. It's a good job. And it was a couple years and the thought of me being, you know, making the decision to leave something that I've been working so hard to achieve, well, it gave me some fear there. But I knew, I knew that it was. It was time when I was out on my lunch periods and the guys would be like, hey, coming back in the truck. And I'm still trying to make that last deal on the phone or something. Trying to middle my. Both businesses at the same time. Right. So I knew that I was finally at the point where I was choking off the growth of the business and just realized that it was time to go.

Wow.

Yeah.

And what do you see for the remainder of this year?

Well, if it continues doing what it's been doing, it's nothing but growth. That's all I can really say. I mean, I see a lot of challenges because challenges has been all we've dealt with, but growth has been all that we've been able to experience from those struggles. So bring on the struggles, I guess. You know what I mean? It's, it's. I've came to the conclusion where, like, if you want to be your own person and run your own business, you're the one that needs to deal with the crap. And if you can accept that and just deal with it and managing it properly, then you beat it and you move on and you grow and then the next thing happens and you do it again. I love that a couple months go by, a couple years go by, and you're doing your second podcast with the boys.

Like, are you struggling like with the counting, all the money, like is that. It's like my wrist is really getting sore. Like it.

But see, I've learned through being able to be around great mentors of mine that if I were to ever struggle with counting money, I would delegate the, delegate the process out to either automating it through a system or of some sort. Yes, you know, yes.

And now you, we were talking on the phone the other day as we were looking to line this up with you being in town because you're, you know, turning into like a, a global citizen. You, you go where the Amazon shows are, where the products are, or do the research and dig into things, etc. What was a big milestone that came across very recently for you and you were kind of, you had your eyes on a new target for the end of the year for another milestone. You want to share what those are?

My three year of selling. Yeah. So finally went into the seven figure mark. So I did the first million dollars on sale that finally hit. That was a couple months ago.

Sorry, where's the clapping one? There we go. Okay, sorry. Facebook's and YouTubes.

So it's really interesting, but to just kind of get a grasp on the growth. It was three years to get to the first million, but we're going to be exceeding the first million on that one single account this year alone, so. And then there's multiple accounts. So like we are. Their growth is way big, happening super fast.

Can I share a story about that that involves you? Would you be okay with that?

He's like, I don't know where you're going with this. You got me here now.

Okay, so this is a story about really seeing the possibilities and getting really inspired to work toward them. So I was sitting down with Jonathan and it's such a small world. One of my colleagues in the United States had said, hey, you were telling me about this fellow named Jonathan and he's in the Amazon resale business. My mom has a, this is Caleb telling me this. He says, hey, my mom has an Amazon store and if Jonathan's up to it, I'd love to introduce him to one of my best friends. And you know, I won't mention, you know, any names or anything, but so I, I get in touch with Jonathan and I said, hey, my buddy Caleb was telling me his mom's got an Amazon store. And he also said if you want to meet this guy, he'd love to facilitate the introduction. And Jonathan says, well that guy, I've actually coached with that guy. How small of a world Is that. And so I asked Jonathan, I said, well, how much is this guy doing on a monthly basis in his Amazon store? But before you answer that, tell me what you're excited about. And he goes, oh, man. He says, I. Jonathan says, I can't wait. I can't wait until my store is doing a hundred grand a month. And I said, well, what's this other guy doing? $400,000 a month. So it was one of those, you know, pregnant pause moments. Let's pregnant pause for the camera. So I looked at Jonathan and I asked, why not? 400, 1000. And it took him a moment because your brain immediately went to why not? Right. So he was kind of frozen in that moment. And then he said, well, I'm, you know, yeah, why not? What do we need? What do we need to achieve that capability?

Capital.

More capability. More capital. And off to the races. And so I said, you know, send this guy a little gift box. And inside the gift box, it'll have a small bottle of Windex and a little paper towel with a note that reads, make sure your rear view mirror is nice and clean so you can see us coming.

Isn't that good?

Good.

And what are we, what are we working toward?

Yeah, we're working.

401,000Amonth, understanding the possibilities, getting inspired to pursue it, and being surrounded by great people. That's just part of the equation. Then the work needs to happen, right? And this guy, Jonathan, like, I have to commend you, like, you are a no quit, go to work, and he'll just go after it. And if you looked through this, this guy's entire pantry, you're not going to find any sugar. He doesn't sugarcoat anything. Well, he wouldn't anyways, fasting, like, the guy's losing. He just lost five pounds when we started this interview. But you wouldn't find any sugar in this guy's pantry anywhere because he's a straight shooter. That's what I love about being associated with you. You're a straight shooter. I relate to people who are straight shooters. Authenticity trumps bullshit all day long.

I agree.

All day long. Ladies and gentlemen, Jonathan Proof.

Give it up for Jonathan.

So now that we've got your ego pumped up, what's.

He just.

He just flips the earphones off and he's just walks out.

You notice? That's why. That's why I put the mic stand this way, so you can't actually drop it because I don't want you to break my mic. So, you know, we talked a little bit about how this has all progressed for you, and it's happened in just such a wide number of ways. But one thing that seems to be really consistent is I'm, you know, sitting on the sidelines watching it happen. We have conversations fairly regularly. Those conversations are always. They often have to do with either a challenge or a. Of the perception of a problem that's either forefront or just happened that you just overcame. And we're always in business, we're always faced with challenges, and they're new and they're slightly different, but it's our ability to recognize that it's there and then recognize that we can go over it, under it, around it, or through it that determines how quickly that's going to happen. Would you guys. Would you agree with that?

And how many injuries you're going to sustain as a result?

Potentially that. And so, you know, you're. You're becoming like a, like a real savant at being able to burn past some of these challenges because what, what would stop many other people in a, in a business, doesn't matter what the business is. Selling on Amazon is just, just what we're talking about here. You're able to just kind of plug through that. But what's coming clear to me is it's not just the way that you're able to plug through it. It's that you're reaching out now. You're. You're becoming adept at tapping people on the shoulder that are around you, in your circle to figure out whether ways to come at the problem.

It's a really good analogy. When you talk about the wall going around. How I visualize that is me at the beginning. I, you know, from the drilling background and all that stuff, I'm used to just going for it. Whatever it takes, I'll go right through it. But as you said, you can get your injuries that way. Now I. It as now, if I seek a coach or a mentor, it's going to take my hand and walk me around the wall. And I've just accomplished my goal.

Yeah.

With very little resistance. And it's just, it's genius. It's like, it's like so simple, but not so simple, apparently, because it's not really utilized.

But there's a. There's, you know, many more Jonathan's out there right now that are listening to this podcast and they're working. They may be unfulfilled in what they're doing. They're. They're dreaming about doing something different. They're dreaming about being in a position where they have total control over their time. So freedom of money, freedom of time, relationship, purpose, all those things that are fulfilling. What advice would you give them.

Right.

Now.

For someone to. Can you repeat the question once more?

It was such a good dramatic lead up.

Yeah. Okay.

Editors. I'm kidding. Okay, so there's many other Jonathan's out there. Yeah. Okay, picture, just picture one person sitting out there right now listening to this.

Podcast, working a 10 and 4 shift out on a job site they don't want to be on.

Yeah. Like they are just unfulfilled. Unfulfilled. They're there for a paycheck and they're dreaming. They're dreaming about creating something that enables them to leave that unfulfilling job and maybe run, operate their own business, create another stream of passive income. Before they get started on that journey. They're thinking about all those fears and those anxieties and all of the, what if I fail and what if this goes wrong and what if that goes wrong? What would you say to that person right now?

Well, if you can't. So first of all, if you're going to pursue anything, expecting some failures is just a must. So being afraid to fail is probably the worst thing you could ever be. And I think if you want to do something that you don't have any knowledge about, the only logical thing to do is to source somebody that's been where you want to go or that can take you to where you want to go. Whether that's through direct coaching, mentoring, whether it's through programing, education, whether it's free content on YouTube, just to get your feet wet, whatever that looks like, you need to just get your, like you can't be afraid of something you don't understand. So to get all your facts straight is probably the very beginning. You know, figure out what you're scared about. People ask me, oh Covid, is Amazon going to shit? I'm like no, actually it's doing better than ever. And people like oh my God. And I'm like, so you've created this fake fear that's non existent. You don't have your information correct, so you can't, you shouldn't be afraid. You know what I mean? So, so fear is, is really just non existent. It's something that you make in your head. So get your stuff straight. Stuff straight before, before you, you know, go around bashing everything up and thinking that is impossible because all you're doing is, is creating yourself more self doubt and that's just not the way to do it. And then after, you can surround yourself with people that want to do or have done what you want to do, and you start seeing that they're actually successful. It's incredibly motivating. When I see other people around me doing better and better and growing and growing, I'm like, I can do that. I can do that. He's just like me. What does he do different than me? He works every day. Okay, I'll work every day. What else does he do every day? Oh, he reads every day and learns something. Okay, I'll do that every day. You know what I mean? Like, you just have to mimic. It's like funnel hacking for click funnels. Whoever's not familiar, but, like, you don't need to reinvent the wheel. You need to source. Just find what works and mimic it. Just be a chameleon and do exactly what that person does every day, and you will create the same results.

So that is great advice. You know, it makes me think about if you're okay. So if you walk into a room and there are five really positive people in the room, what do you end up becoming?

Yeah, you're smiling.

Number six. If you're in a room with five negative nellies who are telling you every reason on the planet why your idea won't work, what do you end up becoming? Yeah, number six.

Right.

If you're in a room full of five people doing 400,000amonth on Amazon, what do you end up becoming exactly? Number one? That's what we end up becoming.

And, you know, Robert Kiyosaki talked about that a lot in some of his books, and it's that, you know, you become a makeup of the top five or so people you spend the most amount of your time with that you surround yourself with. So being around the right people makes a difference. And so what's. What's another thing that's changed for you is that from, you know, when you and I first met, you've also really changed this.

The.

The types of people that you connect with and you circle yourself with, and you. You're proactively put yourself into positions where you can be around more people like that. You go into events, you're going to a networking function. You're going. And now you're. Now you went from just doing that to being highly selective on which ones you want to go to. Now you're going to the ones that are Amazon specific or they're specific to a certain skill set that you want to learn so that you can bring all that in and you can Absorb that information. It's really awesome.

Well, and people. People are seeking you out all the time. Yeah. Right. They have questions. How can I go about doing this? I mean, Amazon Resell is a great business to be in. I. I can speak to that firsthand. But I didn't go out and try to reinvent the wheel.

Exactly.

And say, hey, Jonathan, you're doing great at that. Yeah, great. Okay, good. Now I'm going to go and do all that work and try and get it off the ground. No, we created a. A collaboration. We combined capabilities and what's happening to revenue and profit. Yeah. It's going up.

Up.

And it didn't cost any. Either of us anything more to do it. Right. Oh, I feel what up.

Collaborations don't to exit two minds don't make you twice as much money. Two minds can make you ten times or a hundred times more money.

Or 400, 1000.

400, 1000. Some people think, like, the pie gets bigger. It's like, I want to do all the work by myself. Yeah, but your PI is this big. Well, I'm gonna do it with J, but my PI is still. Your pie just drew 6 times in size now.

Right.

And the pie is bigger to. For both of you to eat more. And some people just can't wrap that around their head. And I'm just like, you're creating the opportunity. You're creating more capital and more like, reward by bringing more people in because you have more, you know.

Yeah.

Colby's or who's best at what, who's not good at what. I'm not good at everything, but we have some people in place that are really good at what I'm not good at, and it works really well.

Well, one of the things that right before we got started on, you know, hitting all the live buttons on the. On the recording today was another contact that, you know, Jason, you've got this other contact, a fellow in Ontario, when he's, you know, he's already got an established way of understanding how to get things across the border in a really efficient, effective manner, because there's some rules around that. And so that connection that's way outside over here is now getting broad into the circle. And it's going to have the ability to probably reduce overhead, reduce costs, not just for your. Your own internal business and store, but for any store that you're going to now help get off the ground because you have that new capability that's brought into the equation, and it gets to spread out amongst all the other individuals that are Going to be participating or joint joining forces with that, that type of overall structure.

Absolutely, absolutely. And it, you know, it's amazing, you know, your associated with the right people when you can call upon somebody with that expertise and they say, hey, I'd be happy to help and have you guys looked at this particular market opportunity? And a big light bulb went off for me because I wasn't even, you know, I don't know the business like Jonathan does. And he said, wow, you guys have an incredible opportunity in front of you. And he went on to describe it and it was just two entrepreneurs being the weird people that we are. You know, people look at us and, and, and think of us like we're a little odd, like we're a little off.

It's because we are sometimes, sometimes I get that because of the shirts that I wear.

What? Yeah, okay, that could be. But it's all about taking something from a lower level of productivity to a higher level of productivity. And what does that do? It expands everything.

Yeah.

And so I agree with your point completely.

Well, and, and you know, that makes me think of going back to the phone conversation you had the other day is like this, this just awesome journey. This, these leapfrog events that keep happening for you as you go through these different phases of the journey. It's, it's really something to be a part of and to watch. But you know, if you think about the people that you surround yourself with and the community that surround you, how would you say the infinite banking community that you're a part of falls into that equation?

Well, because I'm with you guys a lot, I would say the infinite banking has a huge. Infinite banking in general has had a huge impact on my life since the very beginning, since the very first meeting that we had in the office. I don't even know how long ago that was. Now let's go back away five years and I don't know, three or four policies later. But the infinite banking has been helpful just because it's a mindset. It's understanding that if you have certain systems and certain things and certain ways to do things that are proven and it just works and it's been proven over and over and you mimic, you create success. And that's just like learning from a mentor. Like, it's, it's the same type of thing. Infinite banking has put a lot of structure and a lot of systems in place for me, for my business. I guess I kind of bend the rules a little bit, I guess you could say, because I understand the Whole concept of borrowing and, and paying and repaying back with interest and I understand all of those metrics. For me in my business it's, it's profitable for me to borrow and hold deficits, sometimes to invest and I'm able to create larger capital and stuff like that too. So I use Infinite Banking regularly with, with policies and, and to fund, you know, businesses and products. And Infinite Banking has been huge and it will continue to be. It's just a little piece I think so far. I think Infinite bank is going to be a part of my life and every bloodline I, for the rest, as long as my name goes. I think it's been huge. It's been huge. I don't really know how to explain it.

It's a testament to whatever it is that you're doing, whether you're, you know, running an Amazon resale business, whether you're a real estate investor, you're an entrepreneur doing something and you're established and you're growing, whatever it is that you're doing, it's radically improved. When you introduce the process of becoming your own banker. Radically improved. We did an Amazon deal. I took 20,000 in a policy loan out of my policy out of one, put that capital to work for a 90 day period. My cost of capital, the simple interest cost of that capital was 314 bucks. And my net profit from the transaction in that 90 day period was $2,600. It's pretty good ROI, so. Pretty good ROI. And, and that, that's not where it ends. The entire 20,000 was still growing in cash value inside of my policy the entire time. And so regardless of what it is you're doing, if you want to multiply capital, it's radically improved when you introduce becoming your own banker. That's just one example. And you look at the, just getting the money back. If you said, well okay, you know your, your rate of return, if you weren't, if you weren't utilizing the process of becoming your own banker, your rate of return is 12%. But because you controlled the banking function as it related to that specific need, your return on investment was more than 700%. Is there anything stupid about doing that?

But that doesn't show up on the policy illustration, Jason.

It doesn't. It's the unseen of becoming your own banker.

That's right. Nelson talked about that all the time.

To the real details where infinite banking becomes super powerful, big time super powerful.

Well, I, I was talking with a client the other day, this was this week I think, and he was Sharing with me that, you know, their, their financial controller for their company is looking at all the line and just says, you know, geez, like these big policies where you're have money coming out here for, to fund these things over here, like that seems like a bit of a drain on our, on the overall cash flow. And he looked at his wife and who's in the business and, and they just kind of shook their heads and says we, we wouldn't be in business if it wasn't for those policies. If we didn't have those, we probably would have been bankrupt three years ago.

Oh boy, that's powerful.

So we're not touching those.

Yeah, that's powerful.

You know, and it's, but it's a testament to, you know, market conditions, fluctuating oil and gas prices and, and sometimes your business is up and it's way, way, way, way up. And then all sudden, whether it's a global pandemic or whatever it is, it kind of cuts the knees out from underneath you on the business. And for a period of time it can be a real struggle. And a lot of people are going through that right now. But those that are well capitalized and they had something in place that allowed them to have that control and that liquidity to be able to deal with problems, probably make payroll. Yeah. Then, then that's exactly what it's been able to do for, for businesses like that.

Absolutely. And Jonathan, I mean you, you do have course content. You have material that the general public can consume. We'll include some links, you know, to point people in that direction who are thinking about it.

An awesome YouTube channel. Oh yeah, the course, some. We've had several people I know that are going through that course and some of that mentoring with Jonathan right now and are getting unbelievable value. He's literally like cracked open the door and given like the keys to the kingdom pretty much with all the content that's in there.

Yeah. I had a gentleman, without mentioning in last names, first name is Justin. He reached out and he said, hey, you know, I plugged into Jonathan's material and decided just to start this Amazon store. And he focused on one product and he thought, well, if this generates a couple extra hundred bucks a month, that's really all I'm looking for. Well, he's less than two months in and he's already produced over $2,000 in net profit. And so he's thinking this Jeff Bezos guy is, he's onto something here. And Jonathan is incredible because he wouldn't be, he wouldn't have accelerated through that process as rapidly as he did without you. And you didn't have to be there doing it. You had the recorded coaching content and, like, that's great. So the impact, it's not just about your journey. You're now having an impact on other people's lives. And it's. You're obviously, you know, you're not seeing it because these people aren't around you.

All the time, but it's happening.

It is happening. So kudos to you. That's awesome.

Well, and here's, you know, I was thinking about, you know, I remember getting a phone call. I think I was talking to you while you were, like, in Walmart when you first got started. You were scoping out products. What are you, what are you doing? I'm like, I'm looking for products, man. I'm checking out, checking out the numbers on these products. And he was like, walking through the store with his phone and, like, calculating these numbers or whatever. And I'm like, you're doing what now? He's like, he's like, yeah, man, I got, I got a car full of stuff. I got a pallet full of tassimos.

In my, in my giant Toblen, so I'm filling up my whole trunk with Toblens. What are you doing that for? Because they sell.

So he, you know, he's doing all this work, walking through the store, finding products and, and then it's like. And then starting to learn about all these things. Like, wow, man, had I known this piece, I would have tripled, quadrupled, you know, like six times my, my profit on those items I used to sell. Had I known this piece about the foreign exchange rates and how I could bring that down and like, all this, and it's like, like, oh, my God. And then the other day, and there was also that competitive, you know, we, we think, okay, well, there's other people on Amazon selling the exact same product. So how do I get my product sold versus theirs? Well, now that whole thing is flipped, and you're like, wait a second. If we get a great community of people together and we teach them about these good products and they find these good products, and then we can go do, you know, figure out a way to get some group buying options in place and, and then we can all. We know what the volume is that's out there to sell. Yeah, Amazon's going to stick all that in the pile. I'm just going to reach in the pile and send that one out. And so it's a way for everyone to actually have stability on sales. You were kind of sharing and I'm, I'm paraphrasing a lot of that, but you know, it's just the way that you're looking at the opportunities has totally shifted too, which is super interesting.

Well, your, your eyes and your ears only see and hear what your brain's looking. He gets it.

I, yeah. So I feel like I've pretty open book on most of the things I try to teach people because like, again, my experience has been a lot of people don't do much with the information. The people that do do stuff with the information. The information is enough. As long as you're really to work, it's enough to get you going and get you where you need to go. So it's been nothing but beneficial for me to tell everybody everything because when the people do succeed, it's great. And I'm like, wow, finally that guy did what he was supposed to do. That's awesome. And the other people don't do anything anyway because people always say the word of the competition and this and that. And I'm like, I'm not too worried about it anymore. You know, like we think, I think my goals are big enough for everybody to make money. And like we talked about, when we do business, we create bigger pies. We don't try to share the small little pies anymore. You know, we're always looking for other things and to like what you said about educating people. It's, it's Amazon's a big place where lots of people can make some money for that specific advance example, that's just a price gouging thing where people will try to put it under a penny to beat your price and take all the sales because they don't understand that if they just match, we all share, buy box. And then it could be a great harmony where everybody could make money. Because just because you came on and spent a thousand dollars today doesn't mean you get to sell before me because I've been around for a bit now and I actually have a couple other Amazon buddies and I actually have a bigger supplier than you and there's no reason for you to go that route anyways. So I like the method of a harmony where everybody's working together for bigger growth, bigger spots, bigger pies. It's just a better way to do business.

It's a very participatory way of looking at things way better completely. Not unlike a participating money pool that a mutual life insurance company has where you, they like to make them very robust and then pay annual dividends like clockwork for over 200 years.

You know, the other thing that I think people would be interested in too is that, you know, I mean you spend a lot of time negotiating deals. So you be on the phone with suppliers and you've built these relationships and you know, walk us, walk us through that. Like what, what's going through your mind when, you know, you see a product or supplier calls you and says, Jonathan, I think we've got a great deal on this widget and what happens from there. It's sort of a behind the curtain thing, you know.

Yeah. So I can say that I've learned a lot about the supply chain and what the supply chain means and where my suppliers stand on the supply chain. So as in, like when it comes directly, like made in a factory, how many people touched the product before they touched it? And then I also understand a break even or a clearance sale is still a profit, still a profit number no matter what. I've understood a few things now that there is distribution costs and retail costs. So I know there's room for negotiation now that I didn't know that there was before. And when I push on those points, he knows I know what I'm talking about, you know, and I'm like, listen, we're distributing out to multiple this, multiple that. And I understand that it's $80 if I'm going to sell it in retail, but I just told you we're selling it wholesale. So now I'm getting it for $60 and not $80. Because I know that your margins are worked in for that. Your margins are worked in to make double amount off a single or a couple of single retails.

Right.

But I also know your margins are worked in to sell in bulk to me at a discounted price. So depending the conversation can go a couple ways. Obviously either they acknowledge it and they're like, yeah, that makes so much sense. You know, most of them want to do business. So, so that's the, that's the great thing about Amazon people. When I say I, I, I phone people all the time, people seem like, oh, that must be hard, I'm not actually going to try to sell them something, I'm trying to buy products from them. So they don't really hang up on me very much. Right. When I'm like, I got 25, 000 to spend, you want to hear what I have to say? He's like, sure, yeah, you know, especially if I've already spent money with them.

Right.

So that's another thing too. So, so it's kind of a hard. That's, it's a very vast question because it depends if it was the first time I talked to them, I might just want to make the deal happen. Whatever you need, however work, I'll do it. And I might just get a little tighter later.

Yeah.

If I spent a hundred thousand dollars with you, I expect a little $100,000 worth of service, you know, you're prepared.

To take a slightly lower profit on the front end to create an. Establish the right relationship. 100% for what the back end looks like, which is long term vision, long term thinking, just like Nelson taught us.

Yeah. So the one major thing that I learned, like I travel all over learning all kinds of stuff about supply chains and wholesales now. But like the main part was just understanding that they, they know they have these products to sell and make money for you and you're trying to make money. The margins are there regardless. Right. So like they're good conversations, I must say, they're good conversations. They're. They're interesting. And once you build that relationship, so. So the one thing that I taught from going down there was that they understand. Sorry. I got sidetracked there on my mind. You guys can see my brain going there and I'm like sidetracked now. I totally wiped my thumb. Even worse.

I hope that doesn't happen when you're trying to work out a deal. He was thinking about a conversation.

No, sorry. Okay, sorry, sorry, sorry. Now you got it. Now that you guys are talking that. So the. So the main thing about building that initial relationship with the supplier is just making the first deal. So it doesn't matter. So. So if Richard sells products every day and you bought them from him even one time, you have way more leverage than me because I've never bought one product from you ever. I'm in a pile of a thousand people that opened accounts with you and have never made an order to where if I've even made one order, I go one beside these 10 people and I'm out of this thousand pile now. So that instant, instant, instant initial transaction, wide open doors from there, and that's when you start working. But people try to negotiate before they've made a deal. You need to rethink that.

Yeah.

Why the hell do does Jason or Richard trust me? I've never given them a dollar. I've told them I'm going to spend $20 million with them this year. They're like, you're 20 millionth person that has said that to me.

Yeah.

And I got people with cash ready to spend. So when you start spending, I'll start believing. So sometimes that I understand that. And because I said like learning the supply chains and how they're thinking what their margins are, what their main focus is and their goal and where they can be flexed and not. I can just kind of like weasel my way. No, I guess a bad word. That's really bad word. But like, I know that you won't acknowledge me till I make an order. So I make an order and then after that maybe I ask you for a favor, but I don't ask you for a favor until I've done like I've showed you. I'm serious.

You see how he lights up when he does that?

Oh, yeah.

And it's so awesome. Like, I'll get messages from him sometimes. He's like, hey, I need, I got this great deal. I can go in at 50K. I've got, I've got 26,000 ready to go. We need the capital. It's great margin. I want to make the buy great. The trust is there. I don't need to know what the products are. I know he's protecting margins. I know that we're going to move it.

You don't need to understand the bsr J.

No, not one bit.

I have no idea because I just know it's really important.

He's got is important and you know he's going to negotiate the best deal. That's a win win for the relationship and for obviously generating profitable revenue.

Totally.

Right.

Yeah. Well, we do need to get wrapped up here. Yes, I have appointment to get into, but before we go, I wanted to turn it back to Jonathan. Just say any final thoughts you have for people who are tuning into the podcast. Whether it's about Amazon, whether it's about working hard to get up and running in your business, whether it's about how much you love Infinite Banking, any of those things.

Chime in with, well, first of all, everyone should love Infinite Banking, I'll say that. No, I think, I mean, I think, you know, back in. I don't say back in the days, I guess, but, you know, it used to be one house, it was one stream of income and that would be okay. And, you know, the mom or dad could stay at home and raise the kids and it would. That was okay. And you know, now it's. You need to, no matter what, almost anywhere you live now, especially in bigger cities like I live in Toronto and that it's Crazy there. And now I think we're becoming like we're getting into a world where you need three or you need four per household now. Like it's not. Inflation isn't going away, these things aren't going away until like you need to start adapting. So I mean, whether that's infinite banking, whether it's Amazon, whether it's real estate, whether it's anything, again, I think you need to kind of get out of the comfort zone. You need to source some resources, whether that's free resources, like you said. Starting to go. Like I go to a lot of Amazon stuff now, but I didn't always go to Amazon stuff. I went to real estate stuff, I went to Airbnb stuff, I went to infinite banking stuff. I got all kinds of things. And eventually maybe you'll find something you like, but it's coming back to always surrounding yourself with those like minded people. If you're always around 100 people that are trying to find something awesome, you're probably going the right direction. So like being consistent with it is very important. I know it can be discouraging. You know, people want these like super fast amazing results and that's just not really the reality. So it's, it's really understanding that that's not the reality and that if you truly want to get something, then you're gonna have to buckle down and put in the work every day. Not once a week, not a couple times a week, every day.

Yes.

Keep it consistent. Source from the right people and just do the work and it should be okay, whatever that is.

So Jonathan says do the work, do the work.

We should get clothing line Jonathan's do the work.

Do the work. Do the work. Back in the 90s they had those no like no fear, no surrender shirts. We need to get like a Jonathan's like do the work AMZ soldier. Totally a little picture of macho man on there. Macho man, Randy Sandwich.

I hear they sell shirts on Amazon. I might be able to work something out.

Well, there you have it. Canada's Most trusted number one Amazon reseller, Mr. Jonathan Prue. Thanks for being with us. Always a pleasure to have you'd. Love to have you back again. And to all of our friends and listeners, watchers and all the lands where they exist, the Facebooks, YouTubes, podcasts, don't.

Forget to comment and like the show and subscribe. We appreciate you. Smash as Jason wants to smash the.

Smash the like button or Muay Thai it now I'm going to say elbow and have a great weekend. And don't forget, do the work.

Thanks for listening to the Wealth Without Bay Street Podcast where your wealth matters. Be sure to check out our social media channels for more great content. Hit subscribe on your favorite podcast player and be sure to rate the show. We definitely appreciate it. And don't forget to share this episode with someone you care about. Join us on the next episode where we continue to uncover the financial tools, strategies and the mindsets that maximize your wealth.