It’s a BOLD claim for sure, I know, but tag along with me a little for a fun ride.
By doing that, you might end up with something more than just fun, and create a real business out of thin air.
First, you’ll want to figure out how much you need per month to achieve your dream lifestyle.
Let’s go with the Tesla first. Or, if you’re not into cars, you can think of something else.
To lease or buy a Tesla, let’s say the 2019 Model X for example, you’ll need about $1200 per month.
Now, for your dream house, if it’s here in Ohio where I live, you’ll need at least $1 to $3 million. Let’s use $1.5M for now.
For that, your mortgage will be around $9k per month.
Let’s add in some other living expenses. In my case, $5k a month should be comfortable enough, for now anyway ;-)
Now, let’s add it all up. For me, I’ll need about $15k a month to live my dream lifestyle.
Let that sink in for a moment. Close your eyes and picture that image vividly of you living your dream life, with maybe a waterfall flowing in the background…
Ok…now that you found out how much money you need, let’s figure out how to make that amount on Amazon.
In order for you to do that, you’ll need a tool called Helium 10. It’s an expensive software but if you don’t have an account, don’t worry, you can just create an account here and use it for FREE for 14 days. The feature I’m using is called “monthly revenue”. Many Amazon sellers skip this crucial part and don’t correctly estimate their market potential.
Now it’s time to find profitable products that meet our criteria of making at least $15k a month. Your profit margin should be at least 40%, so you’ll need to make around $38k in sales per month.
Go to Helium 10, and click on the Blackbox, then type in the following criteria:
1) Choose a category you like – Don’t get married to your passion, but if you have some passion for your product, it’s a plus.
2) Type $38,000 or your target number for monthly revenue.
3) Price range between $20-70. You can’t sell lower than that because of Amazon fees. If your product is small and light, make sure to enroll in the S&L program to save Amazon fees. (This is a biggie)
4) Reviews between 50-500. The reviews are a good indication of how well it’s selling, so you want to play around with minimum numbers. Choose products that are in demand, but not too competitive.
Now click on the ADVANCED FILTERS and type in the following numbers.
5) BSR (Best Seller Ranking) between 500-5000.
6) Weight under 3 lbs, preferably 1 lb.
7) Click Search…..
VIOLA! You’ll find the products that will pay for your Tesla and your dream house.
Here are some examples.
But not too fast! Don’t get over-excited yet as we have to cover one more important step.
If you miss this step, you won’t be able to sustain your sales for a long time when it becomes more competitive.
If you’re interested in learning more about how to sell on Amazon successfully, learn from the best. Jason Fladlien and Ben Cummings has created a video that shows you how.