Building the Amazon FBA Business: From Launch to Growth and Beyond – AMPM PODCAST EP 175
In episode 175 of the AMPM Podcast, host Manny Coats speaks to 8-figure Amazon sellers and partners at Seller Tradecraft, Fernando Cruz and Nick Young, about how to begin and sustain a contending Amazon FBA business like theirs.
Somewhere between building a team, cutting it down, and driving Uber, Fernando and Nick managed to break eight figures in their now thriving company. With $10 million plus in sales last year (2017) and a 300% growth in one year, the partners were able to do the other things they loved. Nick traveled to Spain and explored Europe for weeks at a time. Fernando scaled a different kind of mountain: Mt. Kilimanjaro.
Unsure of what product niche to enter and without a solid strategy in place, most new sellers entering the Amazon FBA business flounder, especially in the first few years.
How can sellers build an Amazon FBA business and find success early on?
In this episode, Fernando and Nick share their process and strategies to help others launch and grow their own profitable Amazon FBA business.
- 00:28 – Introducing Fernando Cruz and Nick Young
- 03:31 – Living the dream of doing what you love while earning a static income
- 04:08 – Finding a simple, long-tail product and figuring out a strategy to dominate the market.
- 05:13 – New seller fumbles of not understanding the numbers or checking financial pulse of their company.
- 05:58 – Launching your product aggressively with goals and a timeline.
- 07:02 – Amazon API to monitor weekly profitability.
- 07:45 – Defining “aggressively” in terms of PPC campaign and using it to your advantage.
- 08:47 – Going beyond the maximum Amazon bid to hit sales aggressively
- 08:50 – Front Page Bids
- 09:27 – Pros of using manual and/or automatic campaigns
- 09:56 – Keyword count when launching a new product on manual
- 10:46 – Launches, PPCs, and giveaways
- 11:23 – Creating targeted titles for a launch
- 12:18 – PPC campaign management
- 12:44 – Strategies for building your dream team overseas and in-house
- 13:42 – Measuring your company through your team management
- 14:53 – HR, time-tracking, and recruiting
- 16:10 – Handling time difference and overlaps for your overseas staff
- 17:08 – Salary v Hourly and Employee Benefits ‘
- 17:38 – Managing remote staff and tracking their activity
- 18:30 – The cost of employee resources and needs
- 19:25 – Acceptable price range for hiring the right employees for the right positions
- 20:13 – The best advice to sellers who want to reach the $1 mill mark and beyond
- 21:22 – Receiving and repaying loans for your business
- 22:31 – Keeping your costs under control after launch strategy to guide business
- 24:03 – ACOS to drive sales, get good rankings, and use as an indicator for keywords
- 25:44 – Delegating responsibilities and evaluating time
- 26:38 – The Interview Process to screen the best candidates for the job
To watch the video version of this episode of the AM/PM Podcast, check out our YouTube channel below:
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