301 Amazing FBA Review of my Online Year 2018 - Amazing FBA - How to sell on Amazon UK
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!