1 00:00:08,400 --> 00:00:11,833 Now, your boss was right when here she said 2 00:00:11,833 --> 00:00:14,091 fail to plan or plan to fail 3 00:00:14,091 --> 00:00:16,614 But they weren't right about your job 4 00:00:16,614 --> 00:00:19,068 In this video, I'm going to go over the 3 common mistakes 5 00:00:19,068 --> 00:00:21,011 that you may be making in your e-commerce business 6 00:00:21,011 --> 00:00:22,741 and what to do about it 7 00:00:22,741 --> 00:00:23,893 Hi, my name is Beau Crabill 8 00:00:23,893 --> 00:00:26,921 and in the past decade, I've been growing e-commerce businesses 9 00:00:26,921 --> 00:00:28,634 And surprisingly, believe it or not 10 00:00:28,634 --> 00:00:31,823 I got started off with selling socks 11 00:00:31,823 --> 00:00:34,391 And things were doing very, very well at the start 12 00:00:34,391 --> 00:00:35,369 Then as things started to slip away 13 00:00:35,369 --> 00:00:39,418 I spent years to trial and error on making sure to figure it out 14 00:00:39,418 --> 00:00:43,877 And as I perfected my methods, I saw so many self-proclaimed gurus 15 00:00:43,877 --> 00:00:47,261 giving misleading information on YouTube and on the internet 16 00:00:47,261 --> 00:00:48,764 and I know I wanted to help more people 17 00:00:48,764 --> 00:00:50,811 So let me take you downstairs right now 18 00:00:50,811 --> 00:00:54,341 and explain to you about these 3 common mistakes 19 00:01:00,187 --> 00:01:04,026 Mistake #1 is trying to recreate the wheel 20 00:01:04,026 --> 00:01:06,686 That you think to succeed in e-commerce on Amazon 21 00:01:06,686 --> 00:01:08,329 you gotta create up your own brands and products 22 00:01:08,329 --> 00:01:10,177 You think you're gonna be the next new Shark Tank 23 00:01:10,177 --> 00:01:11,095 the next new Apple 24 00:01:11,095 --> 00:01:12,144 I'm gonna tell you right now 25 00:01:12,144 --> 00:01:15,295 that's not where the money is made with e-commerce 26 00:01:15,295 --> 00:01:18,242 Over 51% of Amazon sellers right now are trying to private label 27 00:01:18,242 --> 00:01:20,482 which means you're trying to create up your own brands 28 00:01:20,482 --> 00:01:21,673 But let's look at the numbers 29 00:01:21,673 --> 00:01:24,073 10% of the sellers who do over a million dollars a year on Amazon 30 00:01:24,073 --> 00:01:26,493 which, I do well over a million dollars a year on Amazon 31 00:01:26,493 --> 00:01:27,266 create up their own brand 32 00:01:27,266 --> 00:01:29,936 The rest are reselling other people's brands 33 00:01:29,936 --> 00:01:32,386 Do what me and other sellers are doing at the higher levels 34 00:01:32,386 --> 00:01:34,086 in selling big name brand products 35 00:01:34,086 --> 00:01:37,677 I'm talking about Hasbro, Mattel, Samsung, Sony 36 00:01:37,677 --> 00:01:39,307 Why is this so important? 37 00:01:39,307 --> 00:01:41,518 Well, let's think about the company Walmart, right? 38 00:01:41,518 --> 00:01:44,548 What works offline tends to work online 39 00:01:44,548 --> 00:01:47,435 Walmart, they do roughly half a trillion dollars a year 40 00:01:47,435 --> 00:01:49,555 They do more than Amazon 41 00:01:49,555 --> 00:01:51,685 And have you ever seen Walmart create up their own brand? 42 00:01:51,685 --> 00:01:53,625 They have a couple of their own, but majority of their revenues 43 00:01:53,625 --> 00:01:56,955 99% of their revenues and profits are made 44 00:01:56,955 --> 00:01:59,313 through selling other big name brand products 45 00:01:59,313 --> 00:02:02,184 Best Buy does not own one brand in their store 46 00:02:02,184 --> 00:02:03,316 GameStop, none 47 00:02:03,316 --> 00:02:04,876 Target, none 48 00:02:04,876 --> 00:02:06,338 So why do you think 49 00:02:06,338 --> 00:02:08,918 that you can go on Amazon, which is just another shopping mall 50 00:02:08,918 --> 00:02:10,188 and try to go recreate your own brands 51 00:02:10,188 --> 00:02:11,495 So let's think about this, even if you do 52 00:02:11,495 --> 00:02:13,798 become a great marketer and a great advertiser 53 00:02:13,798 --> 00:02:16,791 get a great brand going on, great brand equity 54 00:02:16,791 --> 00:02:18,531 The odds are that in a couple of years from now 55 00:02:18,531 --> 00:02:19,731 that brand's gonna be obsolete 56 00:02:19,731 --> 00:02:20,611 I know a lot of friends 57 00:02:20,611 --> 00:02:22,521 who were making a lot of money a couple of years ago in e-commerce 58 00:02:22,521 --> 00:02:24,691 had some great sites and launched on Amazon 59 00:02:24,691 --> 00:02:27,495 And now, you know, they're working a job 60 00:02:27,495 --> 00:02:31,445 Because the odds of Hasbro, Mattel, Samsung, Apple, Sony 61 00:02:31,445 --> 00:02:32,653 All these big brands 62 00:02:32,653 --> 00:02:35,223 they will be in business in 10, 20 years from now 63 00:02:35,223 --> 00:02:38,323 But there, I can 100% guarantee, there will be a big brand 64 00:02:38,323 --> 00:02:40,344 in business in 10, 15, 20 years from now 65 00:02:40,344 --> 00:02:42,924 as long as Americans and consumers are still shopping 66 00:02:42,924 --> 00:02:46,854 So I'd rather create relationships with distributors 67 00:02:46,854 --> 00:02:49,319 and wholesalers throughout the United States 68 00:02:49,319 --> 00:02:52,809 And buy products low from them at wholesale prices 69 00:02:52,809 --> 00:02:54,469 of big name brands and selling them for more 70 00:02:54,469 --> 00:02:57,302 instead of trying to go recreate the wheel and sell my own products 71 00:02:57,302 --> 00:03:01,092 Mistake #2 is going to be 72 00:03:01,092 --> 00:03:03,450 not having a plan, failing to plan 73 00:03:03,450 --> 00:03:05,469 Most people that are running an e-commerce business 74 00:03:05,469 --> 00:03:07,429 think that they see videos like this 75 00:03:07,429 --> 00:03:09,278 They think it's all easy and press a couple of buttons 76 00:03:09,278 --> 00:03:10,288 make a bunch of money 77 00:03:10,288 --> 00:03:12,888 And that's not accurate at all 78 00:03:12,888 --> 00:03:16,358 If I ask a hundred people who are running e-commerce businesses 79 00:03:16,358 --> 00:03:17,748 what makes you the most amount of money 80 00:03:17,748 --> 00:03:19,298 they have no idea 81 00:03:19,767 --> 00:03:20,923 They don't know their ROI 82 00:03:20,923 --> 00:03:22,183 they don't know their cost per acquisition 83 00:03:22,183 --> 00:03:23,533 they don't know their advertising cost 84 00:03:23,533 --> 00:03:25,437 They don't know what actions 85 00:03:25,437 --> 00:03:27,127 they need to double down on to make them more money 86 00:03:27,127 --> 00:03:29,337 They don't know what the biggest mistake is in their business 87 00:03:29,337 --> 00:03:30,957 They're working in their business, they're running a hobby 88 00:03:30,957 --> 00:03:33,508 So if you can't answer those questions 89 00:03:33,508 --> 00:03:36,038 you are running a hobby and not a business 90 00:03:36,038 --> 00:03:38,918 So start to position yourself, realizing where's your end goal 91 00:03:38,918 --> 00:03:40,425 and start to work backwards from there 92 00:03:40,425 --> 00:03:42,495 Okay, you wanna do $100,000 a year 93 00:03:42,495 --> 00:03:44,345 $10,000 a month, whatever it is, work backwards 94 00:03:44,345 --> 00:03:46,865 Okay, how much inventory do I need in my store? 95 00:03:46,865 --> 00:03:48,386 What's the margins that I need? 96 00:03:48,386 --> 00:03:50,436 How much time does it take me to go source those out? 97 00:03:50,436 --> 00:03:51,870 How much capital does it take? 98 00:03:51,870 --> 00:03:53,860 Do I need other people doing things for me? 99 00:03:53,860 --> 00:03:56,010 Do I need to invest into softwares and tools? 100 00:03:56,010 --> 00:03:57,367 Do I even know what I'm doing? 101 00:03:57,367 --> 00:03:57,917 Maybe they think, oh 102 00:03:57,917 --> 00:03:59,693 I'm just gonna sign up, call it good 103 00:03:59,693 --> 00:04:00,786 It's not how it works 104 00:04:00,786 --> 00:04:07,876 The third common mistake is not utilizing software tools and data 105 00:04:07,876 --> 00:04:11,900 in this technology-rich world to get an unfair advantage 106 00:04:11,900 --> 00:04:13,295 When you have people like me who know how to use 107 00:04:13,295 --> 00:04:14,624 technology, software, and tools 108 00:04:14,624 --> 00:04:16,991 Have their softwares and tools himself 109 00:04:16,991 --> 00:04:20,283 And you who's trying to do things the old-fashioned way 110 00:04:20,283 --> 00:04:26,347 trying to be very scarce-minded and not invest, you're gonna lose out 111 00:04:26,347 --> 00:04:28,166 Amazon has so much data 112 00:04:28,166 --> 00:04:32,309 I can tell right away on Amazon, on if a product sells or not 113 00:04:32,309 --> 00:04:34,141 I can see how many sales are happening off of this 114 00:04:34,141 --> 00:04:35,501 I can see how many reviews are going on 115 00:04:35,501 --> 00:04:38,121 I can see what customers are leaving feedback on 116 00:04:38,121 --> 00:04:42,054 And very close to the penny, I can figure out what my profits will be 117 00:04:42,054 --> 00:04:43,906 before I invest into any types of products 118 00:04:43,906 --> 00:04:47,014 because I know how to read the data that Amazon provides me 119 00:04:47,014 --> 00:04:49,511 So don't skimp out, take advantage of the tools 120 00:04:49,511 --> 00:04:51,121 take advantage of the software 121 00:04:51,121 --> 00:04:53,571 and just don't run it all by yourself 122 00:04:53,571 --> 00:04:57,044 If you're anything like I was 10 years ago 123 00:04:57,044 --> 00:05:00,464 information, knowledge, and tools is everything 124 00:05:00,464 --> 00:05:02,520 You can spend hours and hours a day on YouTube 125 00:05:02,520 --> 00:05:04,980 and still have no idea where to start 126 00:05:04,980 --> 00:05:08,200 If you implement just the advice given to you in this video 127 00:05:08,200 --> 00:05:11,470 you'll be way ahead than most 128 00:05:11,470 --> 00:05:14,040 However, I wanna give you something more 129 00:05:14,040 --> 00:05:17,290 Something that I wish I had 10 years ago 130 00:05:17,290 --> 00:05:20,616 I've put together and worked hard on a 4-day online training 131 00:05:20,616 --> 00:05:23,564 where I break down in details on my process 132 00:05:23,564 --> 00:05:27,944 Pitfalls to avoid and how to absolutely crush it in e-commerce 133 00:05:27,944 --> 00:05:30,032 Now, I wanna make it an absolute no-brainer for you 134 00:05:30,032 --> 00:05:31,662 so I made it completely free 135 00:05:31,662 --> 00:05:33,792 All you need to do right now is click on this video 136 00:05:33,792 --> 00:05:36,003 and get registered, enter in your details 137 00:05:36,003 --> 00:05:39,013 to get in to the 4-day online training 138 00:05:39,013 --> 00:05:40,803 Listen, I'm gonna be very blunt with you 139 00:05:40,803 --> 00:05:42,333 my training is awesome 140 00:05:42,333 --> 00:05:43,814 And of course I'm gonna say that 141 00:05:43,814 --> 00:05:46,332 but I'll see so many people talk about how, you know 142 00:05:46,332 --> 00:05:48,072 we only have a certain amount of seats available 143 00:05:48,072 --> 00:05:50,462 it's only for today, while supplies last 144 00:05:50,462 --> 00:05:53,523 We both know that's just complete BS 145 00:05:53,523 --> 00:05:56,033 But the fact is that most people watching this 146 00:05:56,033 --> 00:05:58,148 won't do anything and won't take action 147 00:05:58,148 --> 00:05:59,390 Why is that? 148 00:05:59,854 --> 00:06:03,086 Humans, it is much easier for us to stay as we are 149 00:06:03,086 --> 00:06:04,391 than to change, and I get it 150 00:06:04,391 --> 00:06:06,811 Change is hard, change can be scary 151 00:06:06,811 --> 00:06:09,431 And maybe there's something about you 152 00:06:09,431 --> 00:06:12,629 that you have a fear to make a change 153 00:06:12,629 --> 00:06:16,179 to invest into training, to take action on my advice, implement 154 00:06:16,179 --> 00:06:18,425 'Cause maybe your business may change so much 155 00:06:18,425 --> 00:06:20,217 that your life even changes 156 00:06:20,217 --> 00:06:22,327 So click the link on this video right now 157 00:06:22,327 --> 00:06:25,616 get registered for the 4-day training, and I'll see you on there 158 00:06:25,616 --> 00:06:28,856 But how long are you gonna stay as you are? 159 00:06:28,856 --> 00:06:31,628 If you don't invest into the training today 160 00:06:31,628 --> 00:06:33,148 that's exactly what's gonna happen 161 00:06:33,148 --> 00:06:37,308 Now, if everything's great, things are great, life is great, cool 162 00:06:37,308 --> 00:06:41,223 If not, click the link on this video, get registered for the 4-day training 163 00:06:41,223 --> 00:06:42,553 and I'll see you on there 164 00:06:42,553 --> 00:06:44,714 What do you have to risk, it's completely for free 165 00:06:44,714 --> 00:06:46,534 You can get some amazing information from me 166 00:06:46,534 --> 00:06:48,654 who's growing successful e-commerce businesses 167 00:06:48,654 --> 00:06:52,158 So click the link on this video and get registered for the training