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