#111: These Young 7 Figure Amazon Sellers Prove that Private Label isn’t the Only Path to Success
Feb 11, 2020
auto_awesome
Three young Amazon sellers in the podcast share success stories with private label, wholesale, and dropshipping. They discuss topics like educational backgrounds, challenges of managing inventory in dropshipping, building successful partnerships, and the opportunities and benefits of e-commerce.
There are multiple ways to make money on Amazon, including private label, wholesale, and drop shipping.
Success in e-commerce does not always require a traditional education, but rather an entrepreneurial spirit and a willingness to adapt and learn.
Deep dives
Different Strategies in Amazon Selling
This podcast episode features three young sellers who highlight the various strategies for success on Amazon. One seller focuses on wholesaling and has achieved seven-figure sales. Another seller has found success with drop shipping, also reaching seven figures. The third seller started selling at the age of 16 and earned over $20,000 in their first month on Amazon. The discussion emphasizes the importance of understanding that there are multiple ways to make money on Amazon and encourages listeners to explore different strategies for success.
Origins and Educational Background of the Sellers
The podcast delves into the origin stories of the sellers, revealing the diverse educational backgrounds they have. One seller initially pursued a career in dentistry but switched to business due to various reasons. Another seller started with engineering but transitioned to selling products online. The third seller began exploring e-commerce, specifically eBay, during high school. These stories highlight that success in e-commerce does not always require a traditional education, but rather an entrepreneurial spirit and a willingness to adapt and learn.
Highlights of Each Seller's Business Model
The podcast explores the different business models employed by each seller. One seller focuses on private labeling and has multiple successful brands with a wide range of products. The second seller thrives on dropshipping, leveraging existing products and utilizing software to manage inventory and sales. The third seller emphasizes a wholesale model, working with authorized distributors to source products. Despite varying approaches, all three sellers have achieved significant success and recognize the importance of consistently adapting to changes in the e-commerce landscape.
Key Takeaways and Inspirational Messages
The podcast concludes with key takeaways and inspirational messages. The sellers emphasize the importance of networking, attending events, and stepping out of comfort zones to collaborate and learn. They also highlight the fact that e-commerce provides equal opportunities for people of all ages and backgrounds. The sellers encourage listeners to take action, emphasizing that success comes through trial and error, persistence, and the willingness to learn and adapt. They urge aspiring entrepreneurs to make a start, as taking the first step is often the most crucial.