My Amazon Guy

Send us Fan MailTips to GROW your Amazon Brand in 60 seconds! #shortsNeed some TIPS on your Amazon Business?  Stay tuned for Steven Pope's shorts series where he will provide quick tip videos that can guide your business in the right direction! 00:00 Let's Get Into It!0:02 Tip#1 Run retargeting through display ads on Seller Central 0:09 Tip#2 Put Key Word into the Alt text of your A+ content 0:18 Tip#3 Run AB tests0:32 Tip#4 Make sure your photos have a lifestyle shot with your Target Demographic0:51 Thanks For WatchingIf you have any Amazon questions visit My Amazon Guy live on FRIDAYS at NOON EST.  ✅Get 50% off 1 month with Helium 10 https://crushtrk.com/?a=427&c=353&p=r&s1=&coupon=MYAMAZONGUY50✅Save 30% off Jungle Scout https://junglescout.grsm.io/myamazonguy✅Get Amazon Consulting at https://myamazonguy.com/#amazonselling #amazonseller #amazonfbaSupport the show

Send us Fan MailFull list of all Amazon Aggregators: https://myamazonguy.com/amazon-aggregators-fba-acquirers/HOW TO NEGOTIATE WITH AN AGGREGATORJoe Valley join us This week on My Amazon Guy to share how to negotiate with an aggregator.  “Price it right and you will get more buyers looking at it possible multiple offers and you will get to choose your offer.  Not always about the dollar amount, it often about the dollar amount and the deal structure.” -Joe Valley Joe Valley knows the 3 Things Aggregators work for and shares the power of “No, but-“.0:00 Intro6:45 - THE 3 THINGS AGGREGATORS WORK FOR:7:13 - Working capital peg on the inventory11:04 - Hold back19:08 - Earn Out22:55 - GENERAL SELLING TIPS & HOW ELSE TO MAKE MONEY?Joe Valley says that people should get the value they deserve.31:04 – IS A MASTERMIND AN ADD BACK? Yes.Thank you for tuning in with My Amazon Guy & Joe Valley!Don't forget to like and subscribe for more content!  CONNECT WITH MY AMAZON GUYFor more information check out our website at https://myamazonguy.com/Visit us on Facebook at https://www.facebook.com/myamazonguysHow to negotiate with an aggregatorFunded in 2007. 3 Things Aggregators work for:Working capital pegAggregators seek 2 months of inventoryNo, but - a 3 month seller noteLanded cost of goods soldHold backMight have been invented by ThrasioMoney set aside if the business falls off a cliff.10-25% released in 12 months if the revenue remains 90% of what it was at time of closingRecommend sliding scaleNegotiate view access to keep eye on thingsIn the event if they run out of inventory, out of X period, you get paid for.How are they going to manage it?May need an agency (Shameless plug My Amazon Guy!)Earn outAggregator goal is to pay less up front and pay on an earn out.Being dubbed as a “profit sharing plan” - % of a gross profit of the business.Needs to be on top line revenue. Not EIBTA (Never do it on EIBTA).When first doing a deal, and courting, and things are good.General selling tipsHow to avoid ignorance discountNever work with just onePrice it rightGet the dollar amount and deal structure correctSDE - Seller Discretionary Earnings.How else to make money?Calculate cash back on credit cardsPlan to sell, not sell to planRaised prices on Top Seller by $4. Let to $4,000 in increased profit. We did an adjustment in the add back schedule. Took total number of units sold x $4. Get a 3x multiple of $75,000. It gets missed. An aggregator won’t tell you about that.Is a mastermind an add back?Yes. ✅Get 50% off 2 months with Helium 10 https://crushtrk.com/?a=427&c=350&p=r&s1=Or Promo Code MyAmazonGuy50✅Save $123 per month on AMZ Scout https://amzscout.idevaffiliate.com/idevaffiliate.php?id=1030&url=1555✅Save 30% off Jungle Scout https://junglescout.grsm.io/myamazonguy✅Get Amazon Consulting at https://myamazonguy.com/#amazonselling #amazonseller #amazonfbaSupport the show

Send us Fan MailKen Kubec VP of Acquisitions at Thras.io answers tough questions and takes us for a deep dive into where they have been, where they are now, and where they are going. Join us to learn how sellers protect themselves and ways sellers are able to increase their valuation. Thrasio is buying $1M+ Amazon FBA Businesses.Thank You Ken Kubec For Joining Us On The Podcast This Week!Want to sell your Amazon business go here: https://myamazonguy.com/amazon-aggreg...​9:39​ Vision and fortitude10:16​ define the formula11:39​ infinitely scalable13:02​ 100 Acquisitions in 2020 Q1Value -14:22​ 2nd inning14:30​ short term value bubble18:07​ Advice: start slowSelling to Buyer-18:24​ Questions to ask, cash upfront.How many sharks are there in the reality TV show, The Shark Tank?22:41​ Reviews ranked and rating - what Thrasio is looking for28:19​ TIP: Ride your winners (best products)35:00​ snapshot of balance sheetWHAT SHOULD SELLERS BE ASKING?35:25​ Number 1. How many acquisitions have you done to date?36:33​ Number 2. What’s your performance post-acquisition? 156% profit first year37:20​ Number 3. Deal structure - cash upfront, participate in upside over from incremental profitHow do Sellers protect themselves?39:44​ Keep sellers involved.What are some ways sellers are able to increase their valuation in the 3-6 months?42:38​ Focus on margins and growth. "Simple formula but not easy to do" -Ken KubecWhat should sellers be looking for in a buyer as they weigh their options for an exit? What questions should they be asking?43:20​ Buyers want to see an upside.What types of brands work best for the Thrasio portfolio?Transition package 120 day Richard 101 commerce. No agency work in 1-2 years. Brad MossProduct labs✅Get 50% off 2 months with Helium 10Support the show

Send us Fan Mail✅ Who Should You Sell Your Amazon FBA Business to? http://amazonaggregators.com/Amazon FBA AcquirersInstitutional investors are booming the acquisition market for Amazon FBA businesses and this is the future of entrepreneurs. These Aggregators are jumping into the market with large funds bringing professionalism into the business and accelerating the success of small successful sellers by acquiring their brands and creating large and profit-making portfolio companies.We are here with a listing list of Amazon FBA business acquirers popping out in the market with their great deals, large funds, and a successful business record.Before exploring the list we must understand a few things.What are Amazon Aggregators looking for?Although every aggregator company has its own criteria, here is a general criterion your business should meet:Registered Brands: Aggregators look for brand sellers you are selling primarily your own branded/private labeled products or if you are the manufacturers. If you need a trademark, you can order one from us and complete brand registry in under 7 days.Fulfilled by Amazon: Mostly Aggregators are purchasing Fulfillment by Amazon merchants only because they do not want to deal with logistics and for the relative ease of qualifying for Prime status. Sixty-six percent of the top 10,000 Amazon sellers use FBA, according to Marketplace Pulse.Profits and Margins: Each acquirer is different but most require a minimum of $200k annual net profit*, some require $500k annual net profit*. Most say minimum 15% net margins, some will be OK with 10% net margins but not lower.Number of SKUs: More revenue fewer SKUs, for example, $1M revenue with 1-2 SKUs is more preferable than $1M sales with 50 SKUs.Sales through Amazon: Each acquirer is different, some asking for a minimum of 80% of sales through Amazon whereas some are okay with 30% approx.Loyal Customers: It is really a good sign if you have a loyal customer base. Niche: Each acquirer has a different niche interest according to their expertise.No Black Hat Tactics: You must not ever be engaged in such activity that might result in a future deactivation of your account.Not a Fad: Acquirers looking for businesses with a great future scope shouldn’t look like it will fade out with time. Why SELL your BUSINESS?Selling on Amazon can be more difficult and time-consuming for most sellers than what they were expecting. More than half of Amazon sellers are doing their business as a side hustle and 1/3rd as full-time jobs. Limited resources restrict them from expanding their business, hiring more employees, and improving their marketing strategy/funds. Not only for small sellers researchers claim that even for Good Profitable Amazon Sellers it can be very hard to manage inventory and the supply chain. On the other hand, aggregators are loaded with funds and a professional team.ThrasioWork with the fastest profitable U.S. company to ever reach a $1B valuation. Sell your business. Celebrate a lucrative exit. Continue to profit as your brand grows with Thrasio.HeyDayBuilt for sellers. They’re building the most seller-centric business on Earth. Tools, resources, capital, insights – Heyday’s here to help the world’s most ambitious sellers thrive.See more FBA Acquirers at https://myamazonguy.com/amazon-aggregators-fba-acquirers/#amazonaggregators #thrasio #heyday #perch #amazonselling #amazonseller #amazonfbaSupport the show

Send us Fan MailAnthony Cofrancesco is the Industry Liason at PickFu. Today on our podcast we run a live test on the platform to get feedback on the My Amazon Guy agency tagline. We reveal the results at the end of the podcast, but you can click here to see them yourself now!Testing:We Grow SalesGrow Sales FasterSeller Central AgencyAmazon FBA GrowthCompetition on Amazon is going up. Amazon Split Testing BEFORE Your Product Launch.What is PickFu? PickFu matches you with U.S.-based audiences who share valuable feedback on your business ideas, product photos, marketing copy and morePickFu has been used by major Amazon aggregators like Thrassio to prove what is going to work before investing money into projects.Listen to get lots of great insights into what you can test, and why!Support the show

Send us Fan MailIn this Sunday rant Steven Pope is talking straight up about WTF is going on in the world. From Amazon Aggregator market forces, to Just in Time Supply Chain beind dead, to commodity prices rising so fast it's obvious we're entering hyper inflation. This is a rant from the heart of the Amazon taxi driver Steven Pope.Support the show

Send us Fan MailSku limitations. We hope to see these go away soon, but for now it's complicated to manage. Amazon wants to be a distribution center, not a storage facility. This is why they are focussing on IPI limits. What are the principles of inventory management, what are some inventory management best practices?Adjusted Velocities to daily level.Buffer stock and seasonality.Why go from spreadsheet to sostocked.Syncing. 3rd party warehouses. Need to free time, inventory software.Most companies are going back to spreadsheets.What are some of the biggest mistakes people make in inventory management and forecasting?Not accounting for marketing plans as it relates to inventory planning.How to improve sales on Amazon:Improve bullet point in first words, "unlike other products that do XYZ, ours is better because. Sell into the objection."Chelsea Cohen is an Amazon inventory management expert and the co-founder of SoStocked.com, an Amazon inventory management software. She’s also a 7-figure Amazon seller, speaker & consultant. Her regular clients include 7 & 8-figure sellers. She has been featured on AM/PM Podcast, Seller Stories with Jungle Scout & the Amazing Summit stage, among others.Support the show

Send us Fan MailMichael Maher runs Cartology, a full service Amazon agency, and speaks to the heart of how agencies often let down clients. We dive right in on this issue. There's a lot of meat to this conversation. Michael: "We do that by translating your brand story onto Amazon in a way that engages your audience, increases awareness, and generates revenue and focuses on profitability."Michael talks agency expectations. It's always the agency's fault client expectations are not met.Amazon sellers over estimate how fast sales will come from on Amazon. It requires signficiant capital in the beginning. Amazon seller support is not trained on how to problem solve. "They are meant to be a dam, to slow the flow."Amazon is leaving a hole open for competition. They are hard to beat because they are willing to spend and spend to grow and have low prices and high expectations with consumers. But this same thing happened with eBay because they put customers before suppliers. They should be equally important. How to grow Amazon sales?Major weight to advertising. Support the show

Send us Fan MailBit by bit, Amazon sellers are eyeing the public markets. I read this article written by By Michael Waters. "Although Amazon’s third-party marketplace has been around since 2000, Amazon sellers have historically been far too small to reasonably consider going public. But as Amazon’s overall customer base ballooned this past year, so did the size of its top sellers. According to Amazon’s most recent earnings report, seller services — the amount that third-party sellers pay Amazon in commissions, fulfillment fees and so on — grew 57% year over year in 2020. Per Jungle Scout, 2% of Amazon sellers now boast lifetime profits of over $10 million. The third-party vendor Pharmapacks, for instance, brings in at least $250 million in annual sales."Read more of this article here: https://www.modernretail.co/platforms/why-amazon-brands-are-choosing-to-go-public/Support the show

Send us Fan MailRobert Sperling owns East West Basics which has been sourcing on the ground in China for 22 years. So he's seen it all, and actively sourcing for large Fortune 500 companies.  He owns Abington Lane, and has been a My Amazon Guy client for nearly 3 years, and one of the most experienced sourcing people I know. holesale distribution of non-durable goods.What has changed in sourcing in the past 22 years?What are the various things that need to be set up in a sourcing operation:Boots on the groundInspectionsCommunicationFactory relationshipsManufactures are constantly looking to cut corners.Biggest sourcing mistake? Can't accept a big retailer because not making enough margins. Chose to work with less expensive factories and the factory cut a corner so bad it cost $200,000. The vase leaked purple ink into water failing a water proofing test.What types of products are you comfortable sourcing?Any consumer productsCar partsHome GoodsHow to grow Amazon sales tips:What are the competitors doing? How are their reviews?Improve a currently well selling product on Amazon so it isn't just a me too product.When you go to the Canton fares and other China fares:Talk to the manufactuers and get to know them.Most of them are trading comapnies and not factories.Visit a factory - what should you do. Harry Joiner says when you visit a factory in China it's like putting your hand into a bucket of water, when you leave the water goes right back to where it was. "Our primary company, East West Basics has been in business for 22 years. We develop and source products for many large retailers as well as wholesalers. Customers include Walmart, QVC, FTD, BBB, JCP, TJX, Ross,  Amazon, Wayfair, and others. We have our own sourcing infrastructure based in Shenzhen, China. Our full time staff of 35 people source products all over China. We also have a presence in Vietnam, and soon we will have one in Cambodia.My managing partner, who for the most part lives in China, is Taiwanese; he has set up our operation in China from its inception. By background, he is a UCLA pre-med graduate that chose the business world over medicine. Many of our seasoned staff members have been with us for 15-20 years. We do not go through middle-men or trading companies. We deal directly with all factories.We have merchandisers that focus on product development, along with a design team, as well field merchants that work directly with the factories.Our team/s are intricately involved with factory selection, price negotiations, sampling, etc. Once orders are placed, we have a detailed, and rather sophisticated PO monitoring system that spans the entire production cycle.We have a QC team - separate from the people involved in the field to insure many sets of different eyes are monitoring production prior to the final products being shipped out." - Robert Sperling.Contact Robert at sperls88@aol.com  or http://abingtonlane.com/ Support the show