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.
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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.
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.
