All language subtitles for 3. The #1 Reason Why You Will Fail (Statistically Speaking)

All right, in this video, we're going to talk about why you will fail.
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Well, you're not going to fail, but why do people in general statistically fail.
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So I'm going to tell you all the roadblocks that stop most sellers
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and then how you guys can get past it.
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So let's get into that and I want to start it out with a story.
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So this really hits home to me in a lot of areas of my life.
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Now, this is the story about a bamboo tree.
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It's a Chinese bamboo tree.
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It stays as a seed for five years and all that whole time it's just underneath the ground, not doing much,
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but it's growing roots and all sorts of other stuff, building its foundation for growth.
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And then after five years, if it's taken care of that whole time and everything is right, it grows
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90 feet in six weeks.
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Just exponential growth.
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And that's exactly what happened to me.
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So the question is, how long did it take for that tree to grow 90 feet?
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It took five years and six weeks. Every single bit of that process is what was required for that tree
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to grow.
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OK.
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And if it didn't, like if you don't take care of that tree for those five years and it take care
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of it well, it's not going to grow.
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OK, it does not work.
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So treat and just have that image in your head that this Amazon business or just any business and e-commerce,
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it is not an overnight success.
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It is not linear.
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OK.
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It is not
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you make 10 hours tomorrow and then 20.
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OK, it may suck for a while, you may go negative.
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You may never make it.
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But you know how you'd never make it? If you give up.
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I don't know of of anybody who has, is like on product number 18, and is just like "God I can't do it,
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guys, I keep failing." From what I've heard,
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I've actually had the most amount of failures of anybody that is was a successful seller, from what
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I heard. So I failed my first seven products, and then product number eight...
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Six million in six months. So guys, it is so true.
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The bamboo tree does it, happened to me.
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Come through it.
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And let me just tell you the numbers now, so you can know which stages of growth that you're going to
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get stuck up at.
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So 70 percent of people never make it past product research.
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And what do I mean by that? They never buy a product. They never even take that shot to be successful.
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I don't know if it's because they think it's not the opportunity for them - respect.
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They realize this.
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You know they don't have what it takes, respect or the money that it takes.
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Because this does take money.
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I'll teach you guys other ways to get money to do this.
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Okay.
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So think of this analogy, of the last analogy, 70 percent of people never bought a product.
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What does that mean?
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They never even stood up to the plate.
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All right.
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How are you going to hit the ball out of the park if you never even swing. You're not even getting the
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ball thrown at you.
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So that's what happens to most people they get stuck in analysis paralysis or telling themselves a story
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of why they can't do it.
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And if you guys get over that hump you are now into the small 30 percent of people that actually took
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action.
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Now what happens once you're in that 30 percent? Once you're in that smaller percent of people that actually
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did something,
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there is a large subset.
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So only 90 percent or
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sorry,
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only 10 percent of those people that took action are still selling after one year.
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And this is a statistic from market,
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Marketplace pulse I believe and they're very reputable. So these are a bit skewed because
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there are hijackers.
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If you're not aware what that is,
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so they're essentially, they're fake accounts made by typically people in the Asian area where factories
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are and they're selling counterfeit products.
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And it's a very profitable, shady business but it works.
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So let's say it's more like 75 percent of Amazon sellers that actually took action aren't selling one
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year later.
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OK.
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So that means that 25 percent are, and 25 percent of 30 is seven point five I believe.
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Yep.
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So seven point five percent of people that make an Amazon seller account are still selling one year later
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and that's pretty good.
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So if you guys just go ahead and I want to tell you, so of these people that make an account, take action
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and fail, why did they fail?
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Let's get onto that.
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Well the biggest reason that I see hands down, they're copycats.
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They didn't do anything new.
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They just saw this is working for that guy. Like let's say, the silicone or wedding ring example earlier.
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If they look at that, they say look at all this money they're making,
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I'm just gonna do that! Cool,
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what color is he selling? Purple or black.
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Black?
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Okay, let's get a black silicone wedding ring.
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Let's go
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one dollar cheaper than him.
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Throw it up there.
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Oh, that's great! Let's just copy his title and his description.
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Okay.
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When he gets the pictures, let's do Fiver, you know pay 30 bucks or whatnot.
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Buy a couple, you know, buys five hundred to a thousand and they throw it up there and nobody buys it.
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They think it's a scam, that you know, this business model doesn't work.
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Well there's actually a lot of technicals that go behind it.
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So what what basically this leads into one of the other issues that people don't do the research hard
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enough and so they don't - they either, one, aren't well educated so they didn't take my course because
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if you take the whole course and you go through it all guys, you will see what makes a successful product
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and not and where can you compete.
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The other two points.
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Not investing in good photos and not making a great listing and not knowing what keywords to target.
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So going back to that silicone wedding guy, if he just threw up a listing there, he doesn't know what.
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So 50 percent of all Amazon or all searches on the Internet start on the Amazon search bar at the top
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of Amazon.
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And what do people do?
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They type in a word, and then that brings up products, and they click on one of those products and they
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either buy it or they don't.
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That's why Amazon works.
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Right.
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Simple as that.
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And that's pretty much how the whole thing works.
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So you need to know which words to rank for and how to rank on those words. And each word is a different
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difficulty.
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So in this course, I teach you guys how to do that. But where most people fail, they're not knowing
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how to even be indexed.
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So even to have the chance to bat for those keywords and then they don't know how to rank and get on
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page one or on page 100, you know, page 82 for this keyword.
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Nobody's going to page 82. 70 percent of sales I believe are on the first page so that. Or they don't put
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time into their photos or the listing on the Internet.
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The only thing you got is your listing.
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They can't touch, feel, taste your product.
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None of that.
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It's all just those photos and those descriptions and reviews.
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So you have to put all your effort and time into those when you're getting started out and hustling.
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So if you do all of those though, I don't know.
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I really don't know anybody who's done all of these, and so who's made a unique product or a good bundle
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or some found some way to add value to the marketplace and differentiate and you know find somewhere
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where it wasn't too competitive, where they had all the resources necessary to compete, with good
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photos and had a really amazing listing, and then knew which keywords to target and you started to
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rank and do ads for those, you know. I don't know or hear of anybody really failing at that.
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Maybe on one product because, you know, they didn't anticipate some changes, but you just go look at the
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Facebook groups, it's just not that often so...
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And then you never hear really stories people like "Oh, I did it four times in a row." I failed seven in a
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row, guys!
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So I'm just teaching all the lessons that I've learned.
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I have a YouTube video.
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I'll put that down in here but that it tells all the lessons that I learned from failing my first seven
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products.
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And yes.
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So I hope you guys learn lessons from that.
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Now just about the story of my failure.
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So I did fail those seven and the eighth
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one was six million dollars.
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That completely changed my life.
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I just can't imagine what my life would have been like if, well, one that would random Chinese supplier,
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some random Chinese suppliers sent me a one word email telling me about the solar eclipse,
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and then he never responded to me when I said "Sure, I'm interested" so thank you random supplier from
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China.
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You changed my life. And just not giving up.
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So, oh, I also proposed to my wife in outer space and I failed countless times on that.
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I was trying to, as I was 3D printing this contraption and what not I failed over thirty six times in
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a row. And you know what I did?
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I started a giant log, a big notebook of everything that I thought that could be failing and what I could
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do to fix it.
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And then why, and then getting feedback from other people posting on forums.
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Eventually, you figure out the formula to success or anything. So you guys just don't give up and you
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can just do it!
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So like I everyone tell the truth here.
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The people who fail at e-commerce, starting their own business, I see some commonalities.
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They just don't want it.
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They're on the edge.
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I don't know if it's for me.
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I don't know if I could do it.
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I don't know if it's, you know, it's probably doesn't work. Like, there is room.
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There's 560 million products on Amazon, and guys, there's just the U.S. right now.
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No there's way more than US.
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There's so many marketplaces.
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It's dominant in the US but it's gonna be dominant worldwide or some type of e-commerce fulfillment
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will.
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This is the biggest revolution ever!
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There's no barriers to entry.
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There's no nothing. You can take part in this at least for the next five years.
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I see nothing stopping this and there will just be endless opportunities. We were in Bali and you couldn't
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even buy really anything on the internet. You had to pay cash on delivery to some delivery driver, took
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like five days. This will all get solved in every country and you could be offering the best product
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for every region, even if you don't think you can somehow compete on the US, like there's still,
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you know, there's 180 something other countries in the world. It'll happen.
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Just even that like there's still tons of room on the US. 560 million products...
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Why can't you find one or two where you could just make the best offering? Okay, find a hole where it's
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not too competitive, you have enough money to get in there and just like serve even just a tiny part
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of the niche, OK. And you are the best option for them.
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And then you start to just becoming the best option for more people. And you find out what keywords they're
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searching and you get on that page, and when they see it they're going to buy. If you did your good.
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So just keep putting in that work and don't give up and think logically and go through this whole course
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and take action you guys.
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It's possible.
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And I'm seeing that every day though
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the biggest reason why people... they just give up and they let other things take over. So take some action!