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    Now, your boss was right
    when here she said
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    fail to plan
    or plan to fail
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    But they weren't right
    about your job
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    In this video, I'm going to go
    over the 3 common mistakes
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    that you may be making
    in your e-commerce business
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    and what to do about it
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    Hi, my name is
    Beau Crabill
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    and in the past decade, I've been
    growing e-commerce businesses
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    And surprisingly,
    believe it or not
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    I got started off
    with selling socks
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    And things were doing
    very, very well at the start
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    Then as things
    started to slip away
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    I spent years to trial and error
    on making sure to figure it out
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    And as I perfected my methods,
    I saw so many self-proclaimed gurus
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    giving misleading information
    on YouTube and on the internet
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    and I know I wanted to
    help more people
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    So let me take you
    downstairs right now
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    and explain to you about
    these 3 common mistakes
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    Mistake #1 is trying
    to recreate the wheel
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    That you think to succeed
    in e-commerce on Amazon
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    you gotta create up your
    own brands and products
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    You think you're gonna be
    the next new Shark Tank
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    the next new Apple
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    I'm gonna
    tell you right now
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    that's not where the money
    is made with e-commerce
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    Over 51% of Amazon sellers
    right now are trying to private label
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    which means you're trying
    to create up your own brands
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    But let's look
    at the numbers
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    10% of the sellers who do over
    a million dollars a year on Amazon
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    which, I do well over a million
    dollars a year on Amazon
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    create up their own brand
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    The rest are reselling
    other people's brands
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    Do what me and other sellers
    are doing at the higher levels
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    in selling big name
    brand products
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    I'm talking about Hasbro,
    Mattel, Samsung, Sony
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    Why is this so important?
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    Well, let's think about
    the company Walmart, right?
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    What works offline
    tends to work online
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    Walmart, they do roughly
    half a trillion dollars a year
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    They do more than Amazon
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    And have you ever seen Walmart
    create up their own brand?
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    They have a couple of their own,
    but majority of their revenues
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    99% of their revenues
    and profits are made
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    through selling other
    big name brand products
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    Best Buy does not own
    one brand in their store
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    GameStop, none
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    Target, none
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    So why do you think
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    that you can go on Amazon,
    which is just another shopping mall
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    and try to go recreate
    your own brands
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    So let's think about this,
    even if you do
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    become a great marketer
    and a great advertiser
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    get a great brand going on,
    great brand equity
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    The odds are that in
    a couple of years from now
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    that brand's
    gonna be obsolete
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    I know a lot of friends
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    who were making a lot of money
    a couple of years ago in e-commerce
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    had some great sites
    and launched on Amazon
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    And now, you know,
    they're working a job
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    Because the odds of Hasbro,
    Mattel, Samsung, Apple, Sony
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    All these big brands
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    they will be in business
    in 10, 20 years from now
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    But there, I can 100% guarantee,
    there will be a big brand
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    in business in 10,
    15, 20 years from now
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    as long as Americans and
    consumers are still shopping
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    So I'd rather create
    relationships with distributors
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    and wholesalers throughout
    the United States
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    And buy products low
    from them at wholesale prices
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    of big name brands
    and selling them for more
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    instead of trying to go recreate
    the wheel and sell my own products
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    Mistake #2 is going to be
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    not having a plan,
    failing to plan
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    Most people that are running
    an e-commerce business
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    think that they see
    videos like this
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    They think it's all easy and
    press a couple of buttons
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    make a bunch of money
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    And that's not
    accurate at all
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    If I ask a hundred people who are
    running e-commerce businesses
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    what makes you the
    most amount of money
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    they have no idea
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    They don't know their ROI
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    they don't know their
    cost per acquisition
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    they don't know
    their advertising cost
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    They don't know
    what actions
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    they need to double down on
    to make them more money
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    They don't know what the biggest
    mistake is in their business
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    They're working in their business,
    they're running a hobby
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    So if you can't
    answer those questions
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    you are running a hobby
    and not a business
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    So start to position yourself,
    realizing where's your end goal
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    and start to work
    backwards from there
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    Okay, you wanna do
    $100,000 a year
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    $10,000 a month,
    whatever it is, work backwards
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    Okay, how much inventory
    do I need in my store?
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    What's the margins
    that I need?
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    How much time does it take me
    to go source those out?
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    How much capital
    does it take?
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    Do I need other people
    doing things for me?
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    Do I need to invest into
    softwares and tools?
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    Do I even know
    what I'm doing?
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    Maybe they think, oh
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    I'm just gonna sign up,
    call it good
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    It's not how it works
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    The third common mistake
    is not utilizing software tools and data
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    in this technology-rich world
    to get an unfair advantage
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    When you have people
    like me who know how to use
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    technology, software, and tools
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    Have their softwares
    and tools himself
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    And you who's trying to do
    things the old-fashioned way
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    trying to be very scarce-minded
    and not invest, you're gonna lose out
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    Amazon has so much data
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    I can tell right away on Amazon,
    on if a product sells or not
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    I can see how many sales
    are happening off of this
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    I can see how many
    reviews are going on
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    I can see what customers
    are leaving feedback on
  • 4:38 - 4:42
    And very close to the penny,
    I can figure out what my profits will be
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    before I invest into
    any types of products
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    because I know how to read the
    data that Amazon provides me
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    So don't skimp out,
    take advantage of the tools
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    take advantage
    of the software
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    and just don't run it
    all by yourself
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    If you're anything
    like I was 10 years ago
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    information, knowledge,
    and tools is everything
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    You can spend hours and
    hours a day on YouTube
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    and still have no idea
    where to start
  • 5:05 - 5:08
    If you implement just the
    advice given to you in this video
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    you'll be way ahead
    than most
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    However, I wanna
    give you something more
  • 5:14 - 5:17
    Something that I wish
    I had 10 years ago
  • 5:17 - 5:21
    I've put together and worked hard
    on a 4-day online training
  • 5:21 - 5:24
    where I break down
    in details on my process
  • 5:24 - 5:28
    Pitfalls to avoid and how to
    absolutely crush it in e-commerce
  • 5:28 - 5:30
    Now, I wanna make it an
    absolute no-brainer for you
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    so I made it
    completely free
  • 5:32 - 5:34
    All you need to do right now
    is click on this video
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    and get registered,
    enter in your details
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    to get in to the
    4-day online training
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    Listen, I'm gonna be
    very blunt with you
  • 5:41 - 5:42
    my training is awesome
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    And of course
    I'm gonna say that
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    but I'll see so many people
    talk about how, you know
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    we only have a certain
    amount of seats available
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    it's only for today,
    while supplies last
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    We both know
    that's just complete BS
  • 5:54 - 5:56
    But the fact is that
    most people watching this
  • 5:56 - 5:58
    won't do anything
    and won't take action
  • 5:58 - 5:59
    Why is that?
  • 6:00 - 6:03
    Humans, it is much easier
    for us to stay as we are
  • 6:03 - 6:04
    than to change,
    and I get it
  • 6:04 - 6:07
    Change is hard,
    change can be scary
  • 6:07 - 6:09
    And maybe there's
    something about you
  • 6:09 - 6:13
    that you have a fear
    to make a change
  • 6:13 - 6:16
    to invest into training, to take
    action on my advice, implement
  • 6:16 - 6:18
    'Cause maybe your business
    may change so much
  • 6:18 - 6:20
    that your life even changes
  • 6:20 - 6:22
    So click the link
    on this video right now
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    get registered for the 4-day training,
    and I'll see you on there
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    But how long are you
    gonna stay as you are?
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    If you don't invest
    into the training today
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    that's exactly
    what's gonna happen
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    Now, if everything's great,
    things are great, life is great, cool
  • 6:37 - 6:41
    If not, click the link on this video,
    get registered for the 4-day training
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    and I'll see you on there
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    What do you have to risk,
    it's completely for free
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    You can get some amazing
    information from me
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    who's growing successful
    e-commerce businesses
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    So click the link on this video
    and get registered for the training
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Video Language:
English
Duration:
06:53
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