8 Minute Millionaire: Learn the Secrets of Millionaire Entrepreneurs

330. Inside Amazon Wholesaling: Corey Ganim's Path to $3.2 Million

Jul 15, 2024

Corey Ganim, an Amazon wholesale expert, shares his journey to a seven-figure business. He discusses the importance of strategic product selection, stressing simpler often-unsexy products. Corey reveals his streamlined logistics strategies and the significance of strong supplier relationships. He dives into pricing strategies using repricer tools and the benefits of a lean team, including virtual assistants. Finally, he emphasizes the need for a long-term commitment in entrepreneurship, debunking the myth of overnight success.

56:56

Creator website

Episode guests

Corey Ganim

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Focusing on 'unsexy' products in e-commerce can reveal lucrative markets with less competition, offering significant profit potential.

Corey's journey from flipping books to wholesale highlights the importance of adapting business models for sustained growth in profitability.

Building strong supplier relationships through personalized communication is crucial for securing favorable pricing and establishing long-term business success.

Deep dives

Choosing Unsexy Products

Many individuals tend to gravitate towards popular or flashy products when starting in e-commerce, often referred to as 'sexy' items. However, there is a greater potential in focusing on 'unsexy' products that may not be as in-demand publicly but can yield higher opportunities due to less competition. For instance, categories like automotive parts or industrial tools might not have the same appeal as toys or beauty products, yet they can be lucrative markets. By encouraging this approach, entrepreneurs can tap into niches that are overlooked by those seeking the latest trendy items.

Intro

3min

Unlocking Amazon Wholesale Success

7min

Mastering Amazon Pricing Strategies

5min

Mastering Supplier Engagement in Amazon Wholesaling

11min

Navigating Profitability and Distribution in Wholesaling

4min

Navigating Amazon Wholesaling

5min

Navigating Lean Operations and Profit Margins in Wholesale

2min

Navigating Amazon Wholesaling: Strategies and Challenges

13min

Maximizing Efficiency with Profit First and Effective Team Management

2min

10.

Organic Growth Strategies in Wholesale Business and Audience Engagement

2min

11.

Emphasizing Long-Term Commitment for Entrepreneurial Success

3min

In this episode of the Millionaire University Podcast, Brien Gearin interviews Corey Ganim, an Amazon wholesale expert who shares his journey to creating a seven-figure business by reselling products on Amazon. They dive deep into the intricacies of wholesale on Amazon, touching upon product selection, sourcing strategies, logistics, and the importance of strong supplier relationships. Corey also discusses the operational aspects of his lean team and key lessons in managing a capital-intensive business.

What we discuss with Corey

+ Introduction to Corey Ganim and His Business Model

+ How Strollers Got Him on The Millionaire Path

+ Navigating Amazon Listings and the Buy Box

+ Finding the Right Products and Suppliers, Don't Overcomplicate It

+ Why He Leans Towards the Unsexy Products

+ His Process For Working with Distributors and Manufacturers

+ FBA vs. FBM and Logistic Strategies

+ Financial Management and Profit Margins

+ Operating a Lean Team and Expanding with Content

+ Favorite Resources for Amazon Wholesaling

+ Advice for Entrepreneurs

Resources

SmartScout.com - Find product opportunities no one else can on Amazon

OnlineJobs.ph - The Job Board for Virtual Workers in the Philippines

Seller Snap - The most advanced AI Amazon repricer and business intelligence software on the market

Repricer.com - Maximize Sales and Profits with the World's #1 Repricer

Profit First by Mike Michalowicz - Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Profit First for Ecommerce Sellers: by Cyndi Thomason - Transform Your Ecommerce Business from a Cash-Eating Monster to a Money-Making Machine

To listen to these books on Audible for FREE, click here.

Thank You Corey!

To learn more about Corey Ganim, check out his Podcast, The Amazon Wholesale Podcast and follow Corey Ganim on YouTube, where he shares valuable insights and content related to Amazon wholesale.

Sign up for our FREE Business Course - over 300+ new business ideas, also includes the 7 Phases of a business, so you know where you are now and where you need to go next. You'll also get 7 of the most popular marketing strategies and 31 stay-on-track hacks that successful millionaires follow to grow and automate their businesses. Go to https://www.millionaireuniversity.com/training.

And if you want us to answer your business questions on an upcoming episode, drop us a line at support@millioinaireuniversity.com.

To get exclusive offers mentioned in this episode and to support the show, visit millionaireuniversity.com/sponsors.

If you haven't checked out our episode with Chris Brown's about his Billboard business that generates over $30k passive income, click here.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

8 Minute Millionaire: Learn the Secrets of Millionaire Entrepreneurs

330. Inside Amazon Wholesaling: Corey Ganim's Path to $3.2 Million

Episode guests