0:00:08.400,0:00:11.833 Now, your boss was right[br]when here she said 0:00:11.833,0:00:14.091 fail to plan[br]or plan to fail 0:00:14.091,0:00:16.614 But they weren't right[br]about your job 0:00:16.614,0:00:19.068 In this video, I'm going to go[br]over the 3 common mistakes 0:00:19.068,0:00:21.011 that you may be making[br]in your e-commerce business 0:00:21.011,0:00:22.741 and what to do about it 0:00:22.741,0:00:23.893 Hi, my name is[br]Beau Crabill 0:00:23.893,0:00:26.921 and in the past decade, I've been[br]growing e-commerce businesses 0:00:26.921,0:00:28.634 And surprisingly,[br]believe it or not 0:00:28.634,0:00:31.823 I got started off[br]with selling socks 0:00:31.823,0:00:34.391 And things were doing[br]very, very well at the start 0:00:34.391,0:00:35.369 Then as things[br]started to slip away 0:00:35.369,0:00:39.418 I spent years to trial and error[br]on making sure to figure it out 0:00:39.418,0:00:43.877 And as I perfected my methods,[br]I saw so many self-proclaimed gurus 0:00:43.877,0:00:47.261 giving misleading information[br]on YouTube and on the internet 0:00:47.261,0:00:48.764 and I know I wanted to[br]help more people 0:00:48.764,0:00:50.811 So let me take you[br]downstairs right now 0:00:50.811,0:00:54.341 and explain to you about[br]these 3 common mistakes 0:01:00.187,0:01:04.026 Mistake #1 is trying[br]to recreate the wheel 0:01:04.026,0:01:06.686 That you think to succeed[br]in e-commerce on Amazon 0:01:06.686,0:01:08.329 you gotta create up your[br]own brands and products 0:01:08.329,0:01:10.177 You think you're gonna be[br]the next new Shark Tank 0:01:10.177,0:01:11.095 the next new Apple 0:01:11.095,0:01:12.144 I'm gonna[br]tell you right now 0:01:12.144,0:01:15.295 that's not where the money[br]is made with e-commerce 0:01:15.295,0:01:18.242 Over 51% of Amazon sellers[br]right now are trying to private label 0:01:18.242,0:01:20.482 which means you're trying[br]to create up your own brands 0:01:20.482,0:01:21.673 But let's look[br]at the numbers 0:01:21.673,0:01:24.073 10% of the sellers who do over[br]a million dollars a year on Amazon 0:01:24.073,0:01:26.493 which, I do well over a million[br]dollars a year on Amazon 0:01:26.493,0:01:27.266 create up their own brand 0:01:27.266,0:01:29.936 The rest are reselling[br]other people's brands 0:01:29.936,0:01:32.386 Do what me and other sellers[br]are doing at the higher levels 0:01:32.386,0:01:34.086 in selling big name[br]brand products 0:01:34.086,0:01:37.677 I'm talking about Hasbro,[br]Mattel, Samsung, Sony 0:01:37.677,0:01:39.307 Why is this so important? 0:01:39.307,0:01:41.518 Well, let's think about[br]the company Walmart, right? 0:01:41.518,0:01:44.548 What works offline[br]tends to work online 0:01:44.548,0:01:47.435 Walmart, they do roughly[br]half a trillion dollars a year 0:01:47.435,0:01:49.555 They do more than Amazon 0:01:49.555,0:01:51.685 And have you ever seen Walmart[br]create up their own brand? 0:01:51.685,0:01:53.625 They have a couple of their own,[br]but majority of their revenues 0:01:53.625,0:01:56.955 99% of their revenues[br]and profits are made 0:01:56.955,0:01:59.313 through selling other[br]big name brand products 0:01:59.313,0:02:02.184 Best Buy does not own[br]one brand in their store 0:02:02.184,0:02:03.316 GameStop, none 0:02:03.316,0:02:04.876 Target, none 0:02:04.876,0:02:06.338 So why do you think 0:02:06.338,0:02:08.918 that you can go on Amazon, [br]which is just another shopping mall 0:02:08.918,0:02:10.188 and try to go recreate[br]your own brands 0:02:10.188,0:02:11.495 So let's think about this,[br]even if you do 0:02:11.495,0:02:13.798 become a great marketer[br]and a great advertiser 0:02:13.798,0:02:16.791 get a great brand going on,[br]great brand equity 0:02:16.791,0:02:18.531 The odds are that in[br]a couple of years from now 0:02:18.531,0:02:19.731 that brand's[br]gonna be obsolete 0:02:19.731,0:02:20.611 I know a lot of friends 0:02:20.611,0:02:22.521 who were making a lot of money[br]a couple of years ago in e-commerce 0:02:22.521,0:02:24.691 had some great sites[br]and launched on Amazon 0:02:24.691,0:02:27.495 And now, you know,[br]they're working a job 0:02:27.495,0:02:31.445 Because the odds of Hasbro,[br]Mattel, Samsung, Apple, Sony 0:02:31.445,0:02:32.653 All these big brands 0:02:32.653,0:02:35.223 they will be in business[br]in 10, 20 years from now 0:02:35.223,0:02:38.323 But there, I can 100% guarantee,[br]there will be a big brand 0:02:38.323,0:02:40.344 in business in 10,[br]15, 20 years from now 0:02:40.344,0:02:42.924 as long as Americans and[br]consumers are still shopping 0:02:42.924,0:02:46.854 So I'd rather create[br]relationships with distributors 0:02:46.854,0:02:49.319 and wholesalers throughout[br]the United States 0:02:49.319,0:02:52.809 And buy products low[br]from them at wholesale prices 0:02:52.809,0:02:54.469 of big name brands[br]and selling them for more 0:02:54.469,0:02:57.302 instead of trying to go recreate[br]the wheel and sell my own products 0:02:57.302,0:03:01.092 Mistake #2 is going to be 0:03:01.092,0:03:03.450 not having a plan,[br]failing to plan 0:03:03.450,0:03:05.469 Most people that are running[br]an e-commerce business 0:03:05.469,0:03:07.429 think that they see[br]videos like this 0:03:07.429,0:03:09.278 They think it's all easy and[br]press a couple of buttons 0:03:09.278,0:03:10.288 make a bunch of money 0:03:10.288,0:03:12.888 And that's not[br]accurate at all 0:03:12.888,0:03:16.358 If I ask a hundred people who are[br]running e-commerce businesses 0:03:16.358,0:03:17.748 what makes you the[br]most amount of money 0:03:17.748,0:03:19.298 they have no idea 0:03:19.767,0:03:20.923 They don't know their ROI 0:03:20.923,0:03:22.183 they don't know their[br]cost per acquisition 0:03:22.183,0:03:23.533 they don't know[br]their advertising cost 0:03:23.533,0:03:25.437 They don't know[br]what actions 0:03:25.437,0:03:27.127 they need to double down on[br]to make them more money 0:03:27.127,0:03:29.337 They don't know what the biggest[br]mistake is in their business 0:03:29.337,0:03:30.957 They're working in their business,[br]they're running a hobby 0:03:30.957,0:03:33.508 So if you can't[br]answer those questions 0:03:33.508,0:03:36.038 you are running a hobby[br]and not a business 0:03:36.038,0:03:38.918 So start to position yourself,[br]realizing where's your end goal 0:03:38.918,0:03:40.425 and start to work[br]backwards from there 0:03:40.425,0:03:42.495 Okay, you wanna do[br]$100,000 a year 0:03:42.495,0:03:44.345 $10,000 a month,[br]whatever it is, work backwards 0:03:44.345,0:03:46.865 Okay, how much inventory[br]do I need in my store? 0:03:46.865,0:03:48.386 What's the margins[br]that I need? 0:03:48.386,0:03:50.436 How much time does it take me[br]to go source those out? 0:03:50.436,0:03:51.870 How much capital[br]does it take? 0:03:51.870,0:03:53.860 Do I need other people[br]doing things for me? 0:03:53.860,0:03:56.010 Do I need to invest into[br]softwares and tools? 0:03:56.010,0:03:57.367 Do I even know[br]what I'm doing? 0:03:57.367,0:03:57.917 Maybe they think, oh 0:03:57.917,0:03:59.693 I'm just gonna sign up,[br]call it good 0:03:59.693,0:04:00.786 It's not how it works 0:04:00.786,0:04:07.876 The third common mistake[br]is not utilizing software tools and data 0:04:07.876,0:04:11.900 in this technology-rich world[br]to get an unfair advantage 0:04:11.900,0:04:13.295 When you have people[br]like me who know how to use 0:04:13.295,0:04:14.624 technology, software, and tools 0:04:14.624,0:04:16.991 Have their softwares[br]and tools himself 0:04:16.991,0:04:20.283 And you who's trying to do[br]things the old-fashioned way 0:04:20.283,0:04:26.347 trying to be very scarce-minded[br]and not invest, you're gonna lose out 0:04:26.347,0:04:28.166 Amazon has so much data 0:04:28.166,0:04:32.309 I can tell right away on Amazon,[br]on if a product sells or not 0:04:32.309,0:04:34.141 I can see how many sales[br]are happening off of this 0:04:34.141,0:04:35.501 I can see how many[br]reviews are going on 0:04:35.501,0:04:38.121 I can see what customers[br]are leaving feedback on 0:04:38.121,0:04:42.054 And very close to the penny,[br]I can figure out what my profits will be 0:04:42.054,0:04:43.906 before I invest into[br]any types of products 0:04:43.906,0:04:47.014 because I know how to read the[br]data that Amazon provides me 0:04:47.014,0:04:49.511 So don't skimp out,[br]take advantage of the tools 0:04:49.511,0:04:51.121 take advantage[br]of the software 0:04:51.121,0:04:53.571 and just don't run it[br]all by yourself 0:04:53.571,0:04:57.044 If you're anything[br]like I was 10 years ago 0:04:57.044,0:05:00.464 information, knowledge,[br]and tools is everything 0:05:00.464,0:05:02.520 You can spend hours and[br]hours a day on YouTube 0:05:02.520,0:05:04.980 and still have no idea[br]where to start 0:05:04.980,0:05:08.200 If you implement just the[br]advice given to you in this video 0:05:08.200,0:05:11.470 you'll be way ahead[br]than most 0:05:11.470,0:05:14.040 However, I wanna[br]give you something more 0:05:14.040,0:05:17.290 Something that I wish[br]I had 10 years ago 0:05:17.290,0:05:20.616 I've put together and worked hard[br]on a 4-day online training 0:05:20.616,0:05:23.564 where I break down[br]in details on my process 0:05:23.564,0:05:27.944 Pitfalls to avoid and how to[br]absolutely crush it in e-commerce 0:05:27.944,0:05:30.032 Now, I wanna make it an[br]absolute no-brainer for you 0:05:30.032,0:05:31.662 so I made it[br]completely free 0:05:31.662,0:05:33.792 All you need to do right now[br]is click on this video 0:05:33.792,0:05:36.003 and get registered,[br]enter in your details 0:05:36.003,0:05:39.013 to get in to the[br]4-day online training 0:05:39.013,0:05:40.803 Listen, I'm gonna be[br]very blunt with you 0:05:40.803,0:05:42.333 my training is awesome 0:05:42.333,0:05:43.814 And of course[br]I'm gonna say that 0:05:43.814,0:05:46.332 but I'll see so many people[br]talk about how, you know 0:05:46.332,0:05:48.072 we only have a certain[br]amount of seats available 0:05:48.072,0:05:50.462 it's only for today,[br]while supplies last 0:05:50.462,0:05:53.523 We both know[br]that's just complete BS 0:05:53.523,0:05:56.033 But the fact is that[br]most people watching this 0:05:56.033,0:05:58.148 won't do anything[br]and won't take action 0:05:58.148,0:05:59.390 Why is that? 0:05:59.854,0:06:03.086 Humans, it is much easier[br]for us to stay as we are 0:06:03.086,0:06:04.391 than to change,[br]and I get it 0:06:04.391,0:06:06.811 Change is hard,[br]change can be scary 0:06:06.811,0:06:09.431 And maybe there's[br]something about you 0:06:09.431,0:06:12.629 that you have a fear[br]to make a change 0:06:12.629,0:06:16.179 to invest into training, to take[br]action on my advice, implement 0:06:16.179,0:06:18.425 'Cause maybe your business[br]may change so much 0:06:18.425,0:06:20.217 that your life even changes 0:06:20.217,0:06:22.327 So click the link[br]on this video right now 0:06:22.327,0:06:25.616 get registered for the 4-day training,[br]and I'll see you on there 0:06:25.616,0:06:28.856 But how long are you[br]gonna stay as you are? 0:06:28.856,0:06:31.628 If you don't invest[br]into the training today 0:06:31.628,0:06:33.148 that's exactly[br]what's gonna happen 0:06:33.148,0:06:37.308 Now, if everything's great,[br]things are great, life is great, cool 0:06:37.308,0:06:41.223 If not, click the link on this video,[br]get registered for the 4-day training 0:06:41.223,0:06:42.553 and I'll see you on there 0:06:42.553,0:06:44.714 What do you have to risk,[br]it's completely for free 0:06:44.714,0:06:46.534 You can get some amazing[br]information from me 0:06:46.534,0:06:48.654 who's growing successful[br]e-commerce businesses 0:06:48.654,0:06:52.158 So click the link on this video[br]and get registered for the training