• Home
  • |
  • Blog
  • |
  • 301 Amazing FBA Review of my Online Year 2018

January 15, 2019

301 Amazing FBA Review of my Online Year 2018

WINS

Podcast

3 years 3 months and 300 episodes!

Some of the important takeaways from this year are:

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

Business overall

  • Worked for nearly 6 months with excellent business coaches:
  • 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.

Personal life

  • Got married!
  • 8 holidays

Challenges

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.

Ecommerce

  • 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.

PLP Course

  • 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.

Personal life

  • 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.

Learnings

  • 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!

 

Related Posts

Discover If Your Business Is Sellable in the Ecommerce Market

Discover If Your Business Is Sellable in the Ecommerce Market

2024 Ecommerce Market Trends: Is the Market Still Ripe for Business

2024 Ecommerce Market Trends: Is the Market Still Ripe for Business

Expert Wealth Management & Investment Strategies for Small Businesses

Expert Wealth Management & Investment Strategies for Small Businesses

Discover the Secrets to Growing Your Amazon Business 2X in 12 Weeks

Discover the Secrets to Growing Your Amazon Business 2X in 12 Weeks

Michael Veazey


Your Signature

Leave a Reply


Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}