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These are the user uploaded subtitles that are being translated: 1 00:00:00,270 --> 00:00:00,600 All right. 2 00:00:00,600 --> 00:00:04,890 This is an overview video of how Amazon works from A to Z. 3 00:00:04,890 --> 00:00:08,040 We're not going to go in-depth into anything in particular. 4 00:00:08,040 --> 00:00:14,340 However I'm going to just get you that mental framework so that you know from the start to the end essentially 5 00:00:14,340 --> 00:00:15,870 what all is involved. 6 00:00:15,900 --> 00:00:22,620 So essentially the way that we've talked about is that Amazon is where people go for products. 7 00:00:22,650 --> 00:00:22,970 OK. 8 00:00:23,010 --> 00:00:30,000 We've talked about the opportunity and e-commerce is this megatrend is growing more and more each year. 9 00:00:30,000 --> 00:00:35,370 As of right now it's about 13 percent of all retail sales and it's going to continue to grow over time. 10 00:00:35,400 --> 00:00:40,210 So essentially the way that this works is where is this big opportunity on Amazon. 11 00:00:40,200 --> 00:00:45,170 So if you're not familiar with it yet Amazon actually doesn't sell most of the products. 12 00:00:45,180 --> 00:00:52,530 So fifty five percent of all sales on Amazon are roughly it's growing more and more each year is by 13 00:00:52,530 --> 00:00:59,590 third party sellers so if we were to go to Amazon here and actually take a look at these Bose headphones 14 00:00:59,650 --> 00:01:05,590 which are my absolute favorite headphones you'll see that it says right here. 15 00:01:05,590 --> 00:01:08,490 Ships from and sold by Amazon.com. 16 00:01:08,560 --> 00:01:12,490 So this would be Amazon and they're 45 percent with the Bose headphones. 17 00:01:12,580 --> 00:01:13,140 Okay. 18 00:01:13,420 --> 00:01:18,130 And all the other products essentially what Amazon is doing is what most other retail stores do. 19 00:01:18,160 --> 00:01:24,830 They're just buying from the brand and they buy directly and then they sell it on Amazon. 20 00:01:24,840 --> 00:01:28,500 Okay so that's 45 percent of sales however. 21 00:01:28,500 --> 00:01:30,660 Fifty five percent is third party sellers. 22 00:01:30,660 --> 00:01:33,110 Now let me show you an example of that. 23 00:01:33,120 --> 00:01:39,390 So if we go ahead and we look up just not Bose headphones but bluetooth headphones we start to look 24 00:01:39,390 --> 00:01:46,940 at this for example we could look at this geo who food. 25 00:01:47,070 --> 00:01:52,730 Not exactly sure how to say this brand but you can see by here's the name of the brand. 26 00:01:52,740 --> 00:01:57,900 So this g foo foo or whatever brand is what we consider private label. 27 00:01:57,960 --> 00:01:58,660 OK. 28 00:01:58,860 --> 00:02:01,380 So what does that mean exactly. 29 00:02:01,380 --> 00:02:05,700 Now this is just essentially somebody making their own brand. 30 00:02:05,730 --> 00:02:07,710 Now anybody can make their own brand. 31 00:02:07,710 --> 00:02:09,080 They've always been able to. 32 00:02:09,150 --> 00:02:14,700 But the big opportunity now is that anybody can make a brand and instead of having to fight to get into 33 00:02:14,700 --> 00:02:16,720 those retail stores we can get there. 34 00:02:16,770 --> 00:02:17,990 Just a quick recap. 35 00:02:18,060 --> 00:02:22,410 Amazon sales are growing more and more every year. 36 00:02:22,470 --> 00:02:29,610 And now of that the percentage of this the percentage sold by third party sellers is growing more and 37 00:02:29,610 --> 00:02:31,230 more every single year. 38 00:02:31,230 --> 00:02:31,590 All right. 39 00:02:31,680 --> 00:02:38,460 So this is just a massive opportunity and it makes sense because Amazon can only buy and sell and make 40 00:02:38,460 --> 00:02:40,410 partnerships with so many brands. 41 00:02:40,410 --> 00:02:43,970 And it's going to be and already is the search engine. 42 00:02:43,980 --> 00:02:46,350 It's the Google of products. 43 00:02:46,380 --> 00:02:49,440 All right now we're going to talk about Amazon verse retail. 44 00:02:49,440 --> 00:02:53,020 This is where the big difference comes from in the past. 45 00:02:53,040 --> 00:02:54,910 And you're in a retail store. 46 00:02:54,910 --> 00:02:56,070 You know you've got this. 47 00:02:56,070 --> 00:02:59,630 And essentially you have a lot of mini stores within a store. 48 00:02:59,640 --> 00:02:59,870 OK. 49 00:02:59,880 --> 00:03:03,790 So let's say there's a big retailer such as Wal-Mart. 50 00:03:03,870 --> 00:03:05,530 They have different sections. 51 00:03:05,610 --> 00:03:06,050 OK. 52 00:03:06,150 --> 00:03:09,490 And I almost view this as separate stores within the store. 53 00:03:09,480 --> 00:03:12,360 So let's say this were the electronics 54 00:03:16,780 --> 00:03:19,890 OK so within the electronics. 55 00:03:19,960 --> 00:03:26,420 Now if this were to be the electronics section right here there's different sections. 56 00:03:26,420 --> 00:03:26,660 OK. 57 00:03:26,660 --> 00:03:31,550 So they'll have the headphones they'll have the video games in the hub all the other sections. 58 00:03:31,730 --> 00:03:35,580 But let's say Wal-Mart is going to sell headphones. 59 00:03:35,600 --> 00:03:38,460 Well what are they going to sell. 60 00:03:38,510 --> 00:03:42,260 They need to find products that are going to sell to the masses. 61 00:03:42,260 --> 00:03:44,960 So Wal-Mart is going to stock a certain amount of headphones. 62 00:03:44,960 --> 00:03:47,250 They have a limited amount of retail space. 63 00:03:47,300 --> 00:03:52,650 And so because of this and they have all these stores they have to provide the ones that what. 64 00:03:52,760 --> 00:03:57,970 So the most so they're selling the ones that sell the most. 65 00:03:57,980 --> 00:04:00,120 And that is pretty much it. 66 00:04:00,140 --> 00:04:03,420 Now let's say you are the sourcing agent for Wal-Mart. 67 00:04:03,530 --> 00:04:08,450 And I've seen these people and when I've been in China they're sitting there and saying well what are 68 00:04:08,510 --> 00:04:13,820 not specifically for headphones but other markets are saying which headphones do we stock. 69 00:04:13,820 --> 00:04:17,240 We have the opportunity to stock 10 different types of headphones. 70 00:04:17,250 --> 00:04:20,050 Let's say this is obviously just an arbitrary example. 71 00:04:20,060 --> 00:04:26,330 So now Wal-Mart has to choose the 10 best headphones that in the world. 72 00:04:26,330 --> 00:04:31,720 So they have to meet certain criteria such as a certain amount of profit a certain amount of sales and 73 00:04:31,730 --> 00:04:34,290 they have to be the best for their customers. 74 00:04:34,340 --> 00:04:36,230 And since they can only choose 10. 75 00:04:36,350 --> 00:04:41,030 Now they have to kind of say well you know for the kids we think that this will be the best one based 76 00:04:41,030 --> 00:04:45,750 off profit and sales and the price point and then you know what. 77 00:04:45,750 --> 00:04:52,800 So you know we have these certain market segmentation it's and for those what are they going to like 78 00:04:52,800 --> 00:04:53,150 the best. 79 00:04:53,160 --> 00:04:54,730 So maybe they choose 10. 80 00:04:54,870 --> 00:04:56,840 So they have to make their markets happier. 81 00:04:56,850 --> 00:05:05,440 So maybe they're like Let's go for the kids let's go for adults for males. 82 00:05:05,810 --> 00:05:11,330 You know maybe adult female and then maybe they're going to want to go for you know the best for work 83 00:05:11,330 --> 00:05:13,990 out. 84 00:05:14,150 --> 00:05:18,700 We have a special deal with Apple so we have to sell theirs regardless and there's high volume so courts 85 00:05:18,780 --> 00:05:21,850 are going to have the apples. 86 00:05:21,960 --> 00:05:25,740 Now let's say this you go to a Wal-Mart store. 87 00:05:25,810 --> 00:05:28,200 OK. 88 00:05:28,240 --> 00:05:30,890 They get a get a little smokestack on top. 89 00:05:30,990 --> 00:05:40,320 So you go to the Wal-Mart store and you ask the guy what are the best headphones for working out okay 90 00:05:40,680 --> 00:05:47,600 and he's going to look at one of his ten and know say well we have we have this one type of workout 91 00:05:47,610 --> 00:05:50,630 headphones and we have these five colors. 92 00:05:50,700 --> 00:05:53,430 So that's essentially the way that it works. 93 00:05:53,460 --> 00:05:57,130 Now here is the big difference on Amazon. 94 00:05:57,300 --> 00:06:00,210 So this is the way that Amazon works differently. 95 00:06:00,240 --> 00:06:10,990 You go from you have an idea in your head or need and essentially we translate this into a word a word 96 00:06:10,990 --> 00:06:13,920 that we think would best describe what we're looking for. 97 00:06:14,080 --> 00:06:20,810 And then from these words then we go to you see what the product opportunities are. 98 00:06:20,820 --> 00:06:24,120 So the way it works though is Wal-Mart you have an idea or a need. 99 00:06:24,120 --> 00:06:29,520 You go to Wal-Mart and you give them words of kind of describing what your vision in your head and what 100 00:06:29,520 --> 00:06:30,080 you need. 101 00:06:30,330 --> 00:06:30,660 OK. 102 00:06:30,660 --> 00:06:34,590 And they look at one out of 10 and they say well this is all we got. 103 00:06:34,590 --> 00:06:39,300 So that one is the best for you not the same way on Amazon. 104 00:06:39,300 --> 00:06:44,880 So Amazon as we said up here has an on limited amount of products. 105 00:06:44,910 --> 00:06:48,740 So how does Amazon solve the problem of what to show you when you look up words. 106 00:06:48,750 --> 00:06:53,320 Well it says OK well you've typed in the best headphones for work out. 107 00:06:53,910 --> 00:06:58,840 So people look up best headphones for work out and Amazon has to solve this problem. 108 00:06:58,860 --> 00:07:05,200 And essentially Amazon says what are the best selling items when people look up best headphones for 109 00:07:05,200 --> 00:07:05,940 a workout. 110 00:07:05,940 --> 00:07:07,700 That's as simple as it is. 111 00:07:07,710 --> 00:07:08,220 OK. 112 00:07:08,250 --> 00:07:17,300 And then now it says well based on this we found that Jang Fu Jehane foo foo or whatever their name 113 00:07:17,300 --> 00:07:24,080 was should be on the first page because when people look that up it shows that they want these jarring 114 00:07:24,080 --> 00:07:27,150 for fools and they don't want the bows. 115 00:07:27,200 --> 00:07:29,970 Now what else sells well. 116 00:07:30,010 --> 00:07:32,480 And essentially it just ranks it by the best. 117 00:07:32,480 --> 00:07:38,840 Essentially Amazon just says what are the best selling products for when people type in those words. 118 00:07:38,840 --> 00:07:43,160 So it's essentially a product recommendation for ideas. 119 00:07:43,160 --> 00:07:48,550 We translate those into words and then those they will show us what's the best selling. 120 00:07:48,770 --> 00:07:50,990 And that's the way that Amazon works is. 121 00:07:51,080 --> 00:07:52,120 And here's the thing. 122 00:07:52,130 --> 00:07:57,760 We all have ideas in our head and then we use words to describe it and try to get the best ones. 123 00:07:57,920 --> 00:08:01,780 And there's so many phrases and there's so many ideas of products. 124 00:08:01,850 --> 00:08:02,860 And here's the thing. 125 00:08:03,440 --> 00:08:05,930 So here's where the opportunity exists. 126 00:08:05,930 --> 00:08:13,460 So while there is 10000 desired products on Amazon or you know in people's eye and heads into the world 127 00:08:13,460 --> 00:08:17,320 has only been creating 300 choices or so these are arbitrary numbers. 128 00:08:17,330 --> 00:08:21,970 But this is the general concept that people want different variations. 129 00:08:21,980 --> 00:08:25,610 But what was sold it was only what sold best. 130 00:08:25,670 --> 00:08:31,490 And now we're able to go to the same manufacturers who are already building these 300. 131 00:08:31,880 --> 00:08:36,560 But we're just saying hey we just we wanted a different color. 132 00:08:36,650 --> 00:08:42,830 And to add one feature and they're able to easily do that because they already have all of the manufacturing 133 00:08:42,830 --> 00:08:48,800 equipment and they know they can just add up add apart or you know add an accessory or add a feature 134 00:08:48,800 --> 00:08:50,540 or change things a little bit. 135 00:08:50,940 --> 00:08:54,210 And it very simply because they already have the process there. 136 00:08:54,410 --> 00:09:00,760 We will then buy and make these products based off of our demand which I will explain how you choose 137 00:09:00,770 --> 00:09:02,480 what are good and bad markets to go into. 138 00:09:02,480 --> 00:09:07,730 I would not go into bluetooth headphones but this is the general process that I want everybody to understand 139 00:09:07,730 --> 00:09:08,720 here. 140 00:09:08,750 --> 00:09:15,980 Essentially what we're trying to do in general here is the fact that demand is much greater than supply 141 00:09:16,490 --> 00:09:22,610 when it comes to the choices and the variations in this is the model that I believe is the absolute 142 00:09:22,670 --> 00:09:23,350 best. 143 00:09:23,360 --> 00:09:29,720 Now you'll see later how most people preach of it and you'll see a lot of mixed results of success and 144 00:09:29,730 --> 00:09:32,840 failures because people aren't teaching the model right. 145 00:09:32,840 --> 00:09:39,580 In a long term business and in a long term sustainable model that actually makes business sense. 146 00:09:39,590 --> 00:09:45,200 So the way it used to be on Amazon was there was about 10000 desired variations of headphones or whatnot 147 00:09:45,200 --> 00:09:46,970 or different ideas in people's heads. 148 00:09:47,240 --> 00:09:50,160 And there was about 50 choices on Amazon. 149 00:09:50,210 --> 00:09:50,450 OK. 150 00:09:50,480 --> 00:09:57,410 So it was very easy to get to the top and then anybody could just go and copy a product and as long 151 00:09:57,410 --> 00:10:03,860 as you got one variation or something it wasn't even on Amazon or there was only one other person there 152 00:10:03,860 --> 00:10:07,670 so you could just kind of it was just a rush to getting products on Amazon. 153 00:10:07,670 --> 00:10:09,340 That game is over now. 154 00:10:09,440 --> 00:10:11,200 But here is the big opportunity. 155 00:10:11,210 --> 00:10:15,900 And the way to actually build a business that's successful it's not an Amazon arbitrage. 156 00:10:15,920 --> 00:10:19,400 It's it's going after e-commerce. 157 00:10:19,400 --> 00:10:24,710 This megatrend that we've talked about in this growing percentage every year that's going to third party 158 00:10:24,710 --> 00:10:29,780 sellers and the ability it's just the best ability to build a brand. 159 00:10:29,780 --> 00:10:32,120 So what how does this work exactly. 160 00:10:32,440 --> 00:10:38,030 All right so this is where the massive opportunity comes so most people will look right here and say 161 00:10:38,030 --> 00:10:42,280 wow this is a 10 million dollar a year opportunity. 162 00:10:42,300 --> 00:10:43,670 And this is one product 163 00:10:46,300 --> 00:10:52,180 and then they'll kind of go in and say wow if I could just have that bit right there that green part 164 00:10:52,450 --> 00:10:53,540 then I would be happy. 165 00:10:53,620 --> 00:10:55,420 And that was the beginning part of it. 166 00:10:55,570 --> 00:10:57,580 But that's not the way we go anymore. 167 00:10:57,580 --> 00:11:00,820 Now we say wow look at this whole market here. 168 00:11:00,840 --> 00:11:02,620 OK there's one product there. 169 00:11:02,710 --> 00:11:04,070 But what about this. 170 00:11:04,120 --> 00:11:11,130 Where is that in-between space where nobody is building anything like that. 171 00:11:11,190 --> 00:11:13,840 You know I see all this green demand here. 172 00:11:13,950 --> 00:11:15,900 Or people have these different desires. 173 00:11:16,020 --> 00:11:17,590 And could I fill these. 174 00:11:17,700 --> 00:11:22,020 You know could I choose one there and could I could I choose one there and maybe I could even steal 175 00:11:22,020 --> 00:11:24,990 a little bit of that because mine is a better opportunity. 176 00:11:24,990 --> 00:11:29,160 And then actually you know for this part of the market right there it's better than that one. 177 00:11:29,190 --> 00:11:34,350 That's what we're going after and the the model that I preach is a sustainable business model. 178 00:11:34,610 --> 00:11:34,850 OK. 179 00:11:34,860 --> 00:11:37,800 A majority of the work goes into actually getting the idea. 180 00:11:38,070 --> 00:11:43,230 So I just want to show you what happens after you get the idea in the market OK what you do is we go 181 00:11:43,230 --> 00:11:45,560 over to this thing called Alibaba. 182 00:11:45,690 --> 00:11:48,750 It's essentially the search engine for factories. 183 00:11:48,750 --> 00:11:52,600 We talked about how Amazon is the Google for products. 184 00:11:52,620 --> 00:11:55,100 This is the Google for factories. 185 00:11:55,200 --> 00:11:57,870 They list products just like on Amazon. 186 00:11:57,870 --> 00:12:03,270 But when you go there essentially it represents that they make that product and then you talk and you 187 00:12:03,270 --> 00:12:08,180 find ones that are pretty good to deal with and they're good business people and they have good products. 188 00:12:08,220 --> 00:12:14,240 You get a sample and then if you like their sample then you see if they can change the product by. 189 00:12:14,250 --> 00:12:16,980 It's not like you have to go and physically change it. 190 00:12:16,980 --> 00:12:21,640 You just ask can you do what you want in and how do you do that you do what I just did here. 191 00:12:21,660 --> 00:12:23,630 You draw a picture and you describe it. 192 00:12:23,880 --> 00:12:24,210 OK. 193 00:12:24,210 --> 00:12:28,580 So you just say like hey this we want flamingos on this or whatever. 194 00:12:28,870 --> 00:12:30,560 OK and that's it. 195 00:12:30,570 --> 00:12:35,790 And they'll say yes we could do it or yes not you go back and forth with some designs and then they'll 196 00:12:35,790 --> 00:12:38,220 be like OK this is yeah we could do this. 197 00:12:38,220 --> 00:12:38,840 Great. 198 00:12:38,850 --> 00:12:45,810 So then it's like yeah we can do this for you and you want us you have a good idea and then you pay 199 00:12:45,810 --> 00:12:46,300 them. 200 00:12:46,470 --> 00:12:47,760 And then this is what happens. 201 00:12:47,760 --> 00:12:49,660 So we're at that factory. 202 00:12:49,770 --> 00:12:50,650 They make the product. 203 00:12:50,670 --> 00:12:51,890 OK then. 204 00:12:51,930 --> 00:12:54,810 Now here's the confusing part it's like how do you get it to Amazon. 205 00:12:54,830 --> 00:12:56,280 OK well it's actually pretty easier. 206 00:12:56,290 --> 00:12:59,900 This is amazing person in the world called a freight forwarding. 207 00:13:00,120 --> 00:13:04,590 And basically what he does is you go to him and say Hey I got this stuff in China and I want to bring 208 00:13:04,590 --> 00:13:06,540 it over to the Amazon warehouses. 209 00:13:06,570 --> 00:13:10,800 So he figures out how to get it all the way to the dock all the way onto the ship. 210 00:13:10,800 --> 00:13:15,600 And then he figures out how to get it to the other dock and then brings it all the way to the Amazon 211 00:13:15,600 --> 00:13:16,940 warehouse for you. 212 00:13:16,940 --> 00:13:26,030 And then people go to Amazon you go on to Amazon and they look up words as we talked about and then 213 00:13:26,300 --> 00:13:31,090 when they find out the words that you use to describe your products while it's in the sea. 214 00:13:31,100 --> 00:13:35,170 So one other thing I forgot to mention while it's in the sea you're getting the listing made. 215 00:13:35,420 --> 00:13:35,660 OK. 216 00:13:35,660 --> 00:13:41,210 You put in the right words and pictures but how do you get good pictures. 217 00:13:41,210 --> 00:13:45,590 Well there's people that will take pictures for you and I'll teach you how to get good pictures. 218 00:13:45,590 --> 00:13:46,550 So that's it. 219 00:13:46,550 --> 00:13:47,690 You make good pictures. 220 00:13:47,690 --> 00:13:51,500 You write good words you get you changed and made it a pretty good product. 221 00:13:51,530 --> 00:13:53,220 Somebody else did the product for you. 222 00:13:53,300 --> 00:13:59,570 Somebody shipped it there for you Amazon brings you the product brings you the customers when you have 223 00:13:59,570 --> 00:14:00,610 the right words. 224 00:14:00,710 --> 00:14:05,680 And then if you have good pictures and good words people buy it and then they start to show you more. 225 00:14:05,780 --> 00:14:13,500 If you're not showing up for a word you can just buy ads on Amazon but it's not as hard as you think. 226 00:14:13,500 --> 00:14:15,080 It's not like this complicated thing. 227 00:14:15,180 --> 00:14:20,760 You literally just say I want to show for you just pay for traffic on that word. 228 00:14:20,760 --> 00:14:24,960 So you show right up at the top the Amazon search bar for whatever words you want. 229 00:14:24,960 --> 00:14:26,820 It's not complicated at all. 230 00:14:26,880 --> 00:14:31,900 You just find the right words and you learn over time what words sell and what words don't. 231 00:14:31,950 --> 00:14:33,480 And then this is it. 232 00:14:33,480 --> 00:14:35,280 And then somebody buys it through your word. 233 00:14:35,310 --> 00:14:43,950 OK Jim Jim in Iowa has bought your headphones or flamingo whatever you made. 234 00:14:44,090 --> 00:14:44,660 OK. 235 00:14:44,690 --> 00:14:53,380 And then Amazon then Amazon will send it to Jim and then it says Wow Jim bought it through that word. 236 00:14:53,460 --> 00:14:54,720 We should show that again. 237 00:14:54,960 --> 00:15:00,690 And that's how the process works then eventually then eventually over time you're showing on the top 238 00:15:00,720 --> 00:15:06,000 because whenever Jim types in that word you are the best showing one hour at the end of the day it all 239 00:15:06,000 --> 00:15:08,360 comes down to having a good idea. 240 00:15:08,370 --> 00:15:11,790 Now how do we find good opportunities and have good ideas. 241 00:15:11,910 --> 00:15:13,690 What all comes down to data. 242 00:15:13,710 --> 00:15:18,480 So there's these wonderful things out there called product research tools what they do is they are going 243 00:15:18,480 --> 00:15:26,190 to re categorize the Amazon database and give us all the info that we would need such as sales and historical 244 00:15:26,190 --> 00:15:31,830 trends and basically everything that we need to analyze all in one easy to use interface and the ones 245 00:15:31,830 --> 00:15:36,450 that I suggest are helium 10 and viral launch and viral launches the one that I suggest for the beginners 246 00:15:36,740 --> 00:15:41,010 because they're kind like the apple of product research tools they're going to give you ideas and give 247 00:15:41,010 --> 00:15:43,680 you data so that you can find the good ideas. 248 00:15:43,710 --> 00:15:46,200 So I'm going to show you guys how to use that in the next chapter. 24426

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