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These are the user uploaded subtitles that are being translated: 1 1 00:00:00,430 --> 00:00:01,919 I just want to leave you guys a little 2 2 00:00:01,920 --> 00:00:03,839 case study for the premium 3 3 00:00:03,840 --> 00:00:05,570 product to working for me. 4 4 00:00:05,640 --> 00:00:07,310 My solar eclipse glasses 5 5 00:00:07,800 --> 00:00:09,449 you know they're on average there's 6 6 00:00:09,450 --> 00:00:10,859 not for about two dollars apiece 7 7 00:00:10,860 --> 00:00:12,629 with everybody in the market. 8 8 00:00:12,630 --> 00:00:13,559 And then I came in 9 9 00:00:13,560 --> 00:00:15,080 and I made these goggles that were 10 10 00:00:15,200 --> 00:00:15,890 premium. 11 11 00:00:16,110 --> 00:00:17,159 I solve the problem. 12 12 00:00:17,160 --> 00:00:18,929 There was light coming in between 13 13 00:00:18,930 --> 00:00:19,760 the eyes 14 14 00:00:19,950 --> 00:00:20,600 and 15 15 00:00:21,270 --> 00:00:22,649 with everybody else's. 16 16 00:00:22,650 --> 00:00:24,350 And so I solved that problem 17 17 00:00:24,360 --> 00:00:26,210 made the best eclipse viewers. 18 18 00:00:26,310 --> 00:00:27,800 And then as a result 19 19 00:00:27,810 --> 00:00:29,339 I was able to charge 30 dollars 20 20 00:00:29,340 --> 00:00:31,040 for my goggles where 21 21 00:00:31,350 --> 00:00:32,969 everybody else was charging two dollars for 22 22 00:00:32,970 --> 00:00:33,830 the glasses. 23 23 00:00:34,080 --> 00:00:35,309 And people were eating it up 24 24 00:00:35,310 --> 00:00:36,299 and I got to the top. 25 25 00:00:36,300 --> 00:00:37,160 Page one 26 26 00:00:38,200 --> 00:00:39,839 I was doing like three five hundred sales 27 27 00:00:39,840 --> 00:00:41,549 a day on those without 28 28 00:00:41,550 --> 00:00:43,079 any PPC without 29 29 00:00:43,080 --> 00:00:44,779 any launches anything is 30 30 00:00:44,780 --> 00:00:46,259 just I had that best 31 31 00:00:46,260 --> 00:00:47,159 premium product 32 32 00:00:47,160 --> 00:00:48,769 and I got so many log like 33 33 00:00:48,770 --> 00:00:50,510 email is just full of love 34 34 00:00:50,670 --> 00:00:52,229 from people because I 35 35 00:00:52,230 --> 00:00:53,759 had provided the best product 36 36 00:00:53,760 --> 00:00:54,980 for them invented it. 37 37 00:00:55,290 --> 00:00:57,290 And yeah you know everybody was happy. 38 38 00:00:57,360 --> 00:00:59,129 So there is always 39 39 00:00:59,130 --> 00:01:01,180 that if when you have that premium product 40 40 00:01:01,320 --> 00:01:03,309 everything that I have outlined in this video 41 41 00:01:03,310 --> 00:01:04,460 it comes true. 42 42 00:01:04,500 --> 00:01:06,029 So I hope that 43 43 00:01:06,030 --> 00:01:08,090 you guys have a premium product. 44 44 00:01:08,460 --> 00:01:10,079 OK. So when you are 45 45 00:01:10,080 --> 00:01:11,729 going for private label I 46 46 00:01:11,730 --> 00:01:13,640 suggest that everybody makes 47 47 00:01:13,680 --> 00:01:14,759 a premium brand 48 48 00:01:14,760 --> 00:01:16,519 and these are the reasons why. 49 49 00:01:16,520 --> 00:01:18,059 So the number one 50 50 00:01:18,060 --> 00:01:20,120 reason is perceived 51 51 00:01:20,190 --> 00:01:20,869 value. 52 52 00:01:20,870 --> 00:01:21,440 OK. 53 53 00:01:21,570 --> 00:01:23,259 People will give something 54 54 00:01:23,260 --> 00:01:25,010 like more value 55 55 00:01:25,050 --> 00:01:26,549 just because it is 56 56 00:01:26,550 --> 00:01:27,680 priced higher. 57 57 00:01:27,780 --> 00:01:29,459 They will think of it as worth more 58 58 00:01:29,460 --> 00:01:30,890 and it's the absolute best. 59 59 00:01:30,930 --> 00:01:32,240 It may not always be 60 60 00:01:32,370 --> 00:01:33,959 but you're just 61 61 00:01:33,960 --> 00:01:36,380 going to have a more like lustrous 62 62 00:01:36,480 --> 00:01:38,309 feeling and whatnot 63 63 00:01:38,310 --> 00:01:39,609 when people are going for that 64 64 00:01:39,610 --> 00:01:41,139 and then on the on the 65 65 00:01:41,140 --> 00:01:42,290 backside of that is 66 66 00:01:42,720 --> 00:01:44,519 what I've learned is there is always 67 67 00:01:44,520 --> 00:01:46,250 a market for the rich. 68 68 00:01:46,500 --> 00:01:48,059 So on for where I am at 69 69 00:01:48,060 --> 00:01:49,559 in my life situation now I used to 70 70 00:01:49,560 --> 00:01:51,380 pinch Punnett pennies on everything 71 71 00:01:51,420 --> 00:01:53,009 but now I just buy the highest 72 72 00:01:53,010 --> 00:01:54,719 quality which I normally equate 73 73 00:01:54,720 --> 00:01:55,940 to just the highest price. 74 74 00:01:55,980 --> 00:01:57,740 So if something is worth more 75 75 00:01:57,780 --> 00:01:59,279 it's getting more my attention now 76 76 00:01:59,280 --> 00:02:00,950 and more likely for me to buy 77 77 00:02:00,990 --> 00:02:02,089 then if something is cheap 78 78 00:02:02,090 --> 00:02:03,209 and yes something is cheap 79 79 00:02:03,210 --> 00:02:04,839 and at the way bottom I'm like 80 80 00:02:04,840 --> 00:02:06,110 I don't know about this. 81 81 00:02:06,810 --> 00:02:08,339 So just know 82 82 00:02:08,340 --> 00:02:09,379 that there are people out there 83 83 00:02:09,380 --> 00:02:10,649 and there's there's thousands 84 84 00:02:10,650 --> 00:02:12,530 and thousands of people out there in society 85 85 00:02:12,600 --> 00:02:14,009 that want premium products. 86 86 00:02:14,010 --> 00:02:15,809 I mean if you look the average 87 87 00:02:15,810 --> 00:02:17,699 salary of the Amazon 88 88 00:02:17,700 --> 00:02:19,229 prime member I believe it's over seventy 89 89 00:02:19,230 --> 00:02:19,979 thousand dollars. 90 90 00:02:19,980 --> 00:02:21,950 I mean there's very wealthy class 91 91 00:02:22,050 --> 00:02:23,510 that is buying on Amazon 92 92 00:02:24,000 --> 00:02:24,809 in the United States. 93 93 00:02:24,810 --> 00:02:26,339 So you guys 94 94 00:02:26,340 --> 00:02:27,899 definitely take this into 95 95 00:02:27,900 --> 00:02:29,399 account and the nice other 96 96 00:02:29,400 --> 00:02:30,959 things about having a premium 97 97 00:02:30,960 --> 00:02:32,639 brand you're going 98 98 00:02:32,640 --> 00:02:34,319 to be getting a lot better 99 99 00:02:34,320 --> 00:02:35,939 reviews because you're 100 100 00:02:35,940 --> 00:02:37,730 making the best product 101 101 00:02:37,950 --> 00:02:39,269 for your market. 102 102 00:02:39,270 --> 00:02:39,770 OK. 103 103 00:02:40,110 --> 00:02:41,639 Now it's gonna be really easy to 104 104 00:02:41,640 --> 00:02:43,169 get good reviews if you have the 105 105 00:02:43,170 --> 00:02:44,120 best product. 106 106 00:02:44,190 --> 00:02:45,839 All right. It's like wow you know this 107 107 00:02:45,840 --> 00:02:47,339 was this was the best 108 108 00:02:47,340 --> 00:02:48,920 to solve whatever need. 109 109 00:02:49,150 --> 00:02:50,810 All right. So we've got that 110 110 00:02:50,850 --> 00:02:52,469 and people won't mind leaving 111 111 00:02:52,470 --> 00:02:54,059 a review because these are actually happy 112 112 00:02:54,060 --> 00:02:55,790 that they got the best product. 113 113 00:02:55,950 --> 00:02:57,350 All right. They made the decision 114 114 00:02:57,750 --> 00:02:59,399 to go with you be the best 115 115 00:02:59,400 --> 00:03:00,380 paid the most. 116 116 00:03:00,510 --> 00:03:02,189 So there that is good 117 117 00:03:02,190 --> 00:03:03,719 with that in 118 118 00:03:03,720 --> 00:03:04,949 and. You know if you're going 119 119 00:03:04,950 --> 00:03:06,749 with cheap products you competing on price 120 120 00:03:06,750 --> 00:03:08,279 it's gonna be hard to keep that for you 121 121 00:03:08,280 --> 00:03:09,939 know four and a half five star reviews 122 122 00:03:09,940 --> 00:03:11,459 that those are gonna be tough 123 123 00:03:11,460 --> 00:03:13,169 to get. So we have that 124 124 00:03:13,170 --> 00:03:14,840 and then at the end of the day 125 125 00:03:14,970 --> 00:03:16,730 I guess there's one more 126 126 00:03:16,770 --> 00:03:18,260 you're gonna have higher margins 127 127 00:03:18,390 --> 00:03:20,039 with a premium product that's higher 128 128 00:03:20,040 --> 00:03:21,410 priced because 129 129 00:03:22,390 --> 00:03:24,029 yeah maybe you know you add a dollar 130 130 00:03:24,030 --> 00:03:25,829 or two more but you're able to charge five 131 131 00:03:25,830 --> 00:03:27,389 to seven ten dollars more for 132 132 00:03:27,390 --> 00:03:28,190 your product. 133 133 00:03:28,500 --> 00:03:30,149 And now have more money 134 134 00:03:30,150 --> 00:03:31,240 for ads. OK. 135 135 00:03:31,410 --> 00:03:32,690 And for 136 136 00:03:33,150 --> 00:03:34,679 giveaways wherever you're going to 137 137 00:03:34,680 --> 00:03:36,269 do it you can just 138 138 00:03:36,270 --> 00:03:37,769 really put a lot more into branding 139 139 00:03:37,770 --> 00:03:39,419 and then the other part of that 140 140 00:03:39,420 --> 00:03:41,090 is when you have higher margins 141 141 00:03:41,190 --> 00:03:42,689 that means your RL eyes also going 142 142 00:03:42,690 --> 00:03:43,469 to be higher. 143 143 00:03:43,470 --> 00:03:45,059 So you can have much more cash 144 144 00:03:45,060 --> 00:03:46,010 flow free. 145 145 00:03:46,290 --> 00:03:47,789 So where you're 146 146 00:03:47,790 --> 00:03:49,619 going to be able to grow faster 147 147 00:03:49,620 --> 00:03:50,450 as well. 148 148 00:03:50,700 --> 00:03:52,319 I guess what I would like to say 149 149 00:03:52,320 --> 00:03:53,849 is I'd rather be 150 150 00:03:53,850 --> 00:03:55,409 selling a thousand dollar 151 151 00:03:55,410 --> 00:03:56,780 or I would rather be selling 152 152 00:03:56,970 --> 00:03:58,040 10 units 153 153 00:03:58,530 --> 00:03:59,639 at 10 dollars per shop 154 154 00:03:59,640 --> 00:04:01,820 or I'd rather be selling 100 units 155 155 00:04:02,130 --> 00:04:04,040 at 10 dollars profit 156 156 00:04:04,110 --> 00:04:06,140 than a thousand at one dollar profit. 157 157 00:04:06,510 --> 00:04:08,219 You know just 158 158 00:04:08,220 --> 00:04:09,650 just in theory because 159 159 00:04:09,960 --> 00:04:11,519 just the slightest change in that 160 160 00:04:11,520 --> 00:04:13,139 one guy could lose half his 161 161 00:04:13,140 --> 00:04:14,060 income. OK 162 162 00:04:14,130 --> 00:04:15,679 but we're probably not going to go from one 163 163 00:04:15,680 --> 00:04:17,189 hundred sales down to 164 164 00:04:17,190 --> 00:04:17,860 50. 165 165 00:04:17,940 --> 00:04:18,770 You know that 166 166 00:04:18,870 --> 00:04:20,609 but that one guy just the littlest 167 167 00:04:20,610 --> 00:04:22,409 thing can she can really tweak 168 168 00:04:22,410 --> 00:04:23,030 his 169 169 00:04:24,120 --> 00:04:25,310 tweak his profitability. 170 170 00:04:25,410 --> 00:04:26,969 So I like to 171 171 00:04:26,970 --> 00:04:28,679 have those margins have a premium 172 172 00:04:28,680 --> 00:04:30,020 product that I'm proud of 173 173 00:04:30,120 --> 00:04:31,949 and knowing that I can build my brand 174 174 00:04:31,950 --> 00:04:33,479 then knowing hey they had this great 175 175 00:04:33,480 --> 00:04:34,979 experience with me now I can 176 176 00:04:34,980 --> 00:04:36,320 add more products 177 177 00:04:36,450 --> 00:04:38,690 and they had that wonderful experience. 178 178 00:04:39,700 --> 00:04:41,259 Yeah. That's that's the way to go to mine. 179 179 00:04:41,260 --> 00:04:42,779 And because at the end of the 180 180 00:04:42,780 --> 00:04:44,609 day the last point you're proud 181 181 00:04:44,610 --> 00:04:45,050 of it 182 182 00:04:45,270 --> 00:04:47,030 and you want to be proud of what you're doing. 183 183 00:04:47,190 --> 00:04:48,820 I mean at the end of the day we're here. 184 184 00:04:48,990 --> 00:04:50,099 You know some people are here to make money 185 185 00:04:50,100 --> 00:04:52,130 but at the end of the day I'm here to make change 186 186 00:04:52,170 --> 00:04:52,859 in this world 187 187 00:04:52,860 --> 00:04:54,020 and do something great. 188 188 00:04:54,720 --> 00:04:56,760 You know you don't just want to be a copycat 189 189 00:04:56,940 --> 00:04:58,559 me too product just just 190 190 00:04:58,560 --> 00:04:59,579 doing some arbitrage 191 191 00:04:59,580 --> 00:05:01,059 and make in money I mean 192 192 00:05:01,060 --> 00:05:02,040 you can if you want 193 193 00:05:02,680 --> 00:05:04,509 but eventually move towards providing 194 194 00:05:04,510 --> 00:05:05,430 real value 195 195 00:05:05,470 --> 00:05:07,140 and adding to this world is 196 196 00:05:07,270 --> 00:05:08,799 I think with the goal we should all be working 197 197 00:05:08,800 --> 00:05:09,600 towards is. 198 198 00:05:09,820 --> 00:05:11,349 So I hope that you guys 199 199 00:05:11,350 --> 00:05:12,119 do choose to go 200 200 00:05:12,120 --> 00:05:13,410 with the premium product 201 201 00:05:13,540 --> 00:05:15,610 and help solve some needs that aren't being 14775