In this week’s episode of Freedom Fast Lane Ryan Daniel Moran interviews his Zen Active Sports business partner Sean Coyne. If you want a step-by-step plan for how to succeed on Amazon then this episode is everything you hoped for!
Main Questions Asked
- Explain how we met and set up the partnership
- What was the research process?
- Talk about choosing a supplier
- How did you go about setting up barcodes and labels?
- Talk about the shipping process
- Is there anything you would do differently?
- What was the launch process?
- Where have you seen people struggle in the process and what solutions do you have?
- How do you handle your emotions in this business?
- How do you get so much done?
Key Lessons Learned
- Set up the ground rules of a partnership as your first step with regards to expectations and split
- In partnerships 2 + 2 = 5
- It’s best to have complimentary skills rather than the same skills
- Ask yourself “is there volume and profit margins in this market?”
- It is not recommended to choose an oversized product especially for Amazon
- Spend money on a professional photographer for product shots
Barcodes and Labels
- You can purchase a 10 pack of UPC codes which has a barcode and number ($20 for 10)
- Use one barcode per specific product e.g. black yoga mat has a number, a purple yoga mat would have a different number
- You can design your own label in Photoshop or outsource design e.g Fiverr, Odesk, 99 Designs
- Freight Forwarder – does the organizing to get the items from the supplier warehouse to the Amazon warehouse
- The freight forwarder also handles customs clearance
- If its economical to put your items on a plane in the initial stage (rather than land) then do it to expedite the process
- Spend money upfront to get time back e.g. overnight sample products and prototypes
- The more you spend upfront that will directly impact your bottom line the more you will make
Prior to Launch
- Ask yourself: “Can I build a community around this topic or idea?”
- Also: “Do I have a responsive audience that wants what I have?”
- Build an audience before launch to e.g. Facebook community, email list, forum
- The communication vehicle is not as important as the community response
- Encourage users to be part of the community and generate content
- Be prepared to invest in social media adverts to build groups. Contests and coupon codes will follow at launch
- Focus on community and not the product at first then sprinkle in the product but don’t make it the sole focus
Struggles & Solutions
- For most people the challenge is choosing the product
- Find a product you see a strong market and go with it (don’t over analyze)
- The biggest struggle is from day zero and when you send the check to your supplier
- People lose track of what they need to do and worry about the launch
- A simple solution is to make a list of what you need to get done
- Focus your time and energy on that single thing on that list
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Links to Resources Mentioned
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Ryan Daniel Moran
Ryan Daniel Moran is one of the most sought after speakers and thought leaders on lifestyle freedom in the world. He specializes in creating extremely profitable cash flow streams and businesses without compromising your lifestyle. Ryan is passionate about inspiring, educating, and empowering people to live extraordinary lives, and he believes that anyone can live the life of their dreams as long as they take responsibility for their results and take consistent action toward getting what they want. When Ryan isn’t inspiring his listeners and readers, you’ll find him at an improv show, a Cleveland Indians game, or traveling the world.