In the next 60 seconds, you’ll discover the simple ‘Formula’ Sophie Howards used to make over $2.1 million – that’s an average of around $50,000 per month – selling on Amazon in the past 3.5 years.
So, you can see if it’s right for you. Read on…
The Rule of Thirds
The key to success in selling on Amazon is picking a great product to sell.
Now, when Sophie’s picking a product to sell on Amazon she uses what she calls ‘The Rule of 3rds’, to make sure there’s enough profit in it.
Let’s talk about a $21 product, and use some rough back of the envelope numbers to explain what this means.
- $7 goes to Amazon
- $7 pays for product
- $7 goes to you the seller.
So, let’s say you sell 10 products a day, you make $70 per day, or $490 per week.
And, because Amazon can store it, pick it, and pack it and send it to the customer for you, that’s largely passive income.
Then, what do you do?
First, you can start selling your product via Amazon in more countries.
Very little extra work for you – you’re just getting your supplier to send the products to a different Amazon warehouse.
But you could potentially double that $490 per week to $980 per week.
Here’s the next smart move.
Add more products!
What if you had 10 products in a similar price range.
You could potentially 5x or even 10 x that income from around $1,000 per week to as much $5,000 even $10,000 per week +.
Ok, great now you’re living a great life.
So, let’s say now you’re making $20,000 profit per month on your Amazon business.
What’s the next move?
You can either keep it as a ‘cash-cow’…you if you like you could possibly sell it at a 3 x multiple of yearly profit.
So, a $240,000 business could be sold for as much as $720,000.
This could allow you to pay off your mortgage in one simple move. Go travel the world for a couple of years. Or fund more real estate investments.
Then, what’s the next smart move.
I don’t know, you could maybe…RINSE AND REPEAT!
This is Sophie Howard’s entire wealth strategy.
And, it’s a great one.
Because you can start with a little bit of money.
(Sophie’s first products were $3 bucks each from her supplier, and she started with a test run of 70 or so).
And, turn it into a lot.
So, that’s the game plan.
The ‘Encore’ Amazon webinars on tonight.
Let’s get you moving.
P.S There will be LIVE Q and A at the end, so come along and get your questions answered about selling on Amazon by a super-star seller, who has launched over 500 products and sold 2 Amazon accounts.