Jul 11, 2023
The Dynamic Duo On Their Way To 8 Figures On Amazon From Domestically Sourced Products
Welcome to Seller Sessions, where we delve into the inspiring journey of Amanda and John, accomplished Amazon sellers on their way to 8-figure success. Since their fortuitous meeting in 2008, Amanda and John have built a thriving partnership by harnessing their individual strengths and division of roles. In this episode, they share their experiences, insights, and aspirations, shedding light on their journey from flipping books online to conquering the world of private labels. Join us as they discuss work-life balance, market strategy, expansion, and the importance of a harmonious partnership.
Episode Highlights:
* Leveraging Strengths: A Recipe for
Success
* Amanda and John attribute their successful partnership to
identifying their individual strengths and weaknesses.
* John's prowess lies in execution and operations, while Amanda
excels in logistics and identifying deficits.
* The couple emphasises the importance of clearly defined roles as
they aim to build a robust team.
* Private Labels and Seven-Figure
Milestones
* Amanda discusses their transition from their previous business
model to private labels, highlighting the remarkable difference in
margins.
* They recount hitting the coveted seven-figure milestone within
two years of venturing into private labels.
* The couple recalls their journey, from humble beginnings flipping
books to focusing solely on their thriving private label
business.
* Building a Powerhouse Product Line
and Market Presence
* Amanda shares their strategic decision to phase out
income-providing businesses and focus on developing their
brand.
* Maintaining a reliable supply chain and optimising inventory
levels to avoid stock shortages become key priorities.
* The couple reveals their current four-product line, with two main
focuses, and the significance of capturing a substantial market
share in each vertical.
* Solidifying Market Position and
Future Opportunities
* John highlights the high barriers to entry in their business
space, which insulate them from potential competitors.
* They discuss the potential impact of market changes and
innovation on their business model.
* Amanda emphasises the importance of staying abreast of market
trends, expanding market share, and exploring opportunities beyond
the Amazon platform.
* Balancing Amazon and Off-Platform
Expansion
* Amanda shares their cautious approach to expanding beyond Amazon,
prioritising the establishment of a solid Amazon operation.
* They discuss the potential allure of a robust Amazon presence for
potential buyers eyeing off-Amazon opportunities.
* The couple reflects on their experiences with aggregators
interested in acquiring their business and their decision to wait
until their desired selling price is achieved.
* Scaling Up, Hiring, and Future
Goals
* Amanda unveils their target numbers for the current year, aiming
to reach eight figures in 2024/25.
* They discuss the process of hiring additional staff and
transitioning John's focus from the warehouse to business
growth.
* John emphasises the significance of finding products that allow
for streamlined shipping to scale at a rapid pace with solid
systems and processes in place.
* Navigating Supply Chain Dynamics and
Domestic Suppliers
* Amanda underscores the role of a supply chain manager as a vital
component of their operations.
* They emphasise the importance of maintaining strong relationships
with suppliers and negotiating mutually beneficial terms.
* The couple expresses their commitment to U.S. manufacturing,
aligning with their brand's patriotic values, and highlights the
value of repeat customers in the consumer space.
* Overcoming Challenges and
Strengthening the Partnership
* Amanda recalls a daunting moment when their Amazon account was
suspended for six weeks, highlighting the importance of swift
conflict resolution.
* John and Amanda share their strategies for diffusing heated
arguments, emphasising the significance of taking breaks to cool
down and seeking spiritual guidance during challenging times.
Conclusion:
Join us on this captivating episode of Seller Sessions as Amanda
and John, accomplished Amazon sellers on their way to 8-figure
success, share their invaluable experiences and insights. From
recognising their individual strengths to conquering the private
label space, they provide inspiration for aspiring entrepreneurs
and couples aiming to build thriving businesses while maintaining a
harmonious personal and professional life. Discover the secrets
behind their remarkable growth and future aspirations as they
continue their journey.