301 Amazing FBA Review of my Online Year 2018
3 years 3 months and 300 episodes!
Some of the important takeaways from this year are:
- Interviews with experts (former part of year)
- Starting to intro eCommerce as a whole rather than just Amazon focus, which was detailed with Jason Miles, where we covered Shopify and the asset it can be to your business.
- Concept of Digital goods as well as physical goods, which was also discussed with Jason Miles again!
PLP, Private Label Process, Course [www.amazingfba.com/PLP]
- Created first ever online course!
- Amazing and great value resource for mentoring clients and others in commerce.
- Got to work with a fantastic VA, Gary in Philippines
- And my wonderful business partner, Rob Sleath
- Learned more about outsourcing, delegation, management, and training.
- 23 Beta and early adopter members
- Worked for nearly 6 months with excellent business coaches:
- Jason Miles & Kyle Hamar of WinningonShopify.com
- Learned Kartra, a marketing platform which can be used in e-commerce businesses for clickfunnels and email auto-responding, among many other features.
- Learned more about sales funnels and Amazon marketing.
10K Collective mastermind [amazingfba.com/10k ]
- A mastermind group for those who do a minimum of £25 thousand per month.
- 10K Collective mastermind had 15 meetings since Sept 2017
- Group dynamic with increasingly better rapport and understanding between members.
Honesty -> frank discussions – > amazing insights
- Collective revenue shot up. Several members went over £100K in revenue in Dec 2018. One hit over 7 figures in December income alone (over £1 million) NB GBP not USD!
Overall focus has shifted from tactics to strategic thinking and the big picture of e-commerce.
MPM, Million Pound Mastermind
- A mastermind only for people with a minimum revenue of £1 million per year through e-commerce.
- 1st meeting in Nov 2018
- One member of the mastermind received an award for being the CEO of the largest growing e-commerce company in The Netherlands.
- Going to meet once a quarter in cool European locations, starting in London, February 2019.
- If you qualify and are interested in joining, please send me an email.
- Got married!
- 8 holidays
Zero to hero (face to face) mastermind
- A face to face group for any e-commerce sellers, mostly for beginners.
- This mastermind had low attendance due to low amounts of commitment.
- The quality of the meetings was good and was certainly of value, but you cannot run a group based event without commitment from the group members.
- Legal challenge to a patent around mid year. I wasn’t sure of how to handle it, so I let it drift for months. I let myself down relative to my own standards and I didn’t make a good example for my clients.
- Another challenge for me was, what I would call, entrepreneurial ADHD. I didn’t follow the formula created by Marcus Lemonis: “People, Process, Product”. This meant that I was producing more product in the form of more product lines, businesses, services, and etcetera. What I haven’t done is focus on products, person, and process. To learn more about this formula, I recommend The Profit, a small business improvement programme on CNBC.
- Creating this course took about 3 times longer than expected. I Started June, and it took until Dec to make it.
- I wanted to serve people with detail and specific step by step instructions so we didn’t leave gaps through which people could fall.
- The course also required more money than expected.
- Distracted from ecomm by course creation latter half of the year, which resulted in modest sales in Q4.
All remarkably similar to my 1st PL product back in 2014! Luckily, I expect longer term the payoff to be really good in regards to:
- For my clients immediately
- Cashflow over next 12 months
- Skillset of creating digital product
If you are interested in this course, it will be available again from mid to late January with a special deal for podcast listeners.
- Health -I had a cold from mid-December to mid-January, which greatly affected my voice.
- Fortunately, my energy level has returned for the most part.
- You can’t force commitment, such as with Zero to Hero.
- What I can offer as a convenor is greater than that. I can offer purely from my personal ecommerce experience, such as the 10K Collective mastermind.
- Do more intellectual property due diligence on your next product! Make sure to check the patent and deal with issues promptly – no more head in sand!
- Get healthy and stay healthy!