Wizards of Ecom

Yamaris Diaz is back with Virginia Vich to share all of their knowledge on the CARES Act, Payroll Protection Program, and the Economic Injury Disaster Loan. There is so much information to go through and things are changing daily. If you have to, listen to this episode more than once.  We start off with the CARES Act, what it is, who it’s for, and what you can get. The CARES Act is the bill that was passed into law to help stimulate the economy in this time. There are two arms to that stimulus, one is for families and personal finances, the other is for small businesses.  If you’ve filed taxes in the past couple of years, you will likely be eligible for this stimulus package from a personal standpoint. Yamaris and Virginia take a LOT of time to go over the PPP and EIDL. Both loans have good and bad things about them and you can apply to both at the same time, but you’ll want to listen in to nail down all the details that we currently know.. Both loans require that you fill out an application. The PPP is potentially forgivable and at this time, there is no direction on sole proprietors being able to apply though that information is supposed to come out soon.  The EIDL has both a loan and a grant aspect. You will fill out a quick application, it is determined what you are eligible for, and then the lender will contact you requesting additional information. If you do receive both the PPP and the EIDL then the amount forgiven by the PPP will be offset by the amount received through the EIDL. There was so much information to unpack and as both ladies stated multiple times, the information surrounding these acts is changing daily. They both agreed that with or without full information, time is of the essence. There is only so much money being handed out, so you’ll want to work on getting your hat in the ring as soon as possible.   In This Episode: [00:40] Welcome Yamariz Diaz and Virginia Vich to discuss the CARES Act.  [01:16] Virginia introduces herself and her business.  [01:58] Learn more about Yamaris. [03:07] What is the CARES act and why is it important for ecom businesses?  [05:21] Are you eligible for the CARES personal stimulus checks and how would you receive them?  [07:22] Who is eligible for the small business CARES stimulus?  [09:30] How is the small business loan made forgivable?  [11:45] Is the form complicated to fill out?  [14:54] Are the documents that you need for the PPP available through your accountant?  [17:07] What are unsecured loans and personally guaranteed loans?  [19:11] Learn how you can apply for these loans even if your bank isn’t able to help.  [20:47] Your VAs must live and work in the US. [21:28] What else should you know about the CARES Act?  [23:49] The EIDL is completely different. This is a grant program instead.  [26:31] How does this work if you have multiple businesses?  [29:35] EIDL is not forgivable but does have the possibility of an advance. [30:13] Which loan is easier to get right now?  [31:51] If you’re applying for both loans, you’ll need to hear this part. [33:16] Final words of advice and connect with Yamaris and Virginia. Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter   EcomOwl yamaris@ecomowl.com   VxV Consulting VxV Consultin on Instagram   Loan Platforms - www.sba.gov

There’s a difference between differentiating and developing a new products versus simply changing the details of an existing product. Zack Leonard of Gembah shares the difference here as well as why you need to look at developing your own products.  Rather than trying to move into a space by offering another version of the same thing, or a “me-too” product, consider innovation. When you develop your own product and submit for a patent, you’re protecting your product and listing. For instance, if you piggyback off of an existing product that is already patented, you’re putting yourself at risk to have your listing taken down. Zack walks us step by step through his process and why doing your research up front saves a lot of headaches in the end. Prior to developing any products, they go through a thorough patent research step to be sure that your product idea is free and clear.  He shares all the questions and topics you should be asking when you look to start developing your own products. Also, now is not the time to stop building your relationships with your factories. Keep building and stay in contact! Your factories will make you priority if you make them a priority in communication. If you’ve considered developing your own products, this is the episode you want to listen to.   In This Episode: [00:37] Welcome Zack Leonard of Gembah to chat about product differentiation.  [02:02] What is Gembah and what do they do?  [04:09] Selling a Me-Too product on Amazon is the best way to go… true or false? [07:25] Learn the difference between developing and truly differentiating.  [09:53] Is there a specific time in the process to start discussing strategy with an attorney?  [12:35] Differentiation is a creative process. Learn different ways you can differentiate. [14:10] Zack shares a case study he did with one of his clients. [17:13] Consider changing the materials used when you look to differentiate.  [18:34] What kinds of money could you save through a redesign? [20:08] Where are Zack’s clients in their seller’s journey?  [22:54] Learn more about the research process that Zack’s team goes through. [23:57] Zack gives advice on the questions you should ask and consider when going through this process.  [27:03] You need to be actively involved and communicating with your factories.  [28:01] Connect with Zack.    Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter   Gembahinfo@gembah.com Discount Code: Wizards

Price gouging is a real concern these days. Not just from the perspective of the buyer but also of the seller. Chris McCabe is a former Amazon Compliance employee who has a pre-recorded episode coming out later this week, and is back (for the show) to discuss price gouging and its importance. First, you can’t be angry with Amazon for being overzealous. They are required to comply with 50 different state laws regarding monopoly and price gouging. Essentially, they are going to take the hard line with any complaints or accusations of price gouging and for good reason. That being said, there are a few key things you can do to quickly reinstate your listings should they be taken down to complaints or accusations. First, keep your receipts. If you can show how much you purchased a product for and then subsequently sold it at, assuming the gap isn’t obviously inflated, then your request for appeal should be fairly straight-forward. Also, don’t respond while you’re emotionally charged. This will cause you more harm than good. If for some reason you can’t move past the emotional charge of the situation, reach out to Chris and his team to file your appeal for you. Most of all, realize that even if you’ve done nothing wrong, you have to be able to prove it. Keep all of your records and make sure that you’re able to either create a specific and detailed rebuttal or provide all the information for a third party to do the same. We are all going through an insane time right now, don’t take advantage!   In This Episode: [00:28] Welcome back Chris McCabe to chat about price gouging on Amazon. [02:51] What is price gouging?  [03:59] Why Amazon is so stringent about these charges and how the law is involved.  [06:09] Chris defines the difference between gouging and simply obtaining a bigger return.  [11:03] Is there a severity scale on gouging?  [14:17] Seller performance should be able to see if you have a repricer on your account, but there have been a lot more false positives. [17:26] What kinds of requests and reports is Chris seeing?  [20:13] If your account has been suspended, don’t react while you’re still stewing in emotion. [22:14] Wait until you’re in a good mental state, but respond as quickly as possible. [23:24] How quickly can Chris’s team get accounts back up and running?  [25:00] All the OTHER important things you should know about being accused of gouging.  [27:19] Connect with Chris.  Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter   ecommerceChris ecommerceChris on LinkedIn ecommerceChris on Facebook ecommerceChris on Twitter Chris McCabe on Facebook chris@ecommercechris.com

We are in uncertain times. You’ve likely heard that daily for several weeks at this point (or as of this recording.) However, there is a lot of misinformation regarding the logistics of manufacturing and transportation in China and abroad. Burak Yolga of Forceget Logistics joins me to discuss what’s going on, how this may impact your business, and how to make the best of a terrible situation.  First things first, it’s good to know that at least 80% of China is back up and running. One of the biggest issues now is that Wuhan remains in quarantine and they are smack dab in the heart of China.  This has disrupted supply lines and transportation because moving raw materials and finished products has become more expensive. Burak shares what you can expect from increased shipping costs, why this is happening, and what you can do to help your factories. Burak has an amazingly unique perspective on what has been happening and how you can better weather these types of storms. Listen in to learn what questions you should be asking and how now is the time to fortify your relationships with your factories! In This Episode: [00:29] Welcome Burak Yolga to the show to discuss prepping for market disturbances.  [03:24] Learn more about Burak. [06:32] Which sellers are the most affected by this pandemic?  [07:05] Can you still ship from China? What does the timing look like?  [11:18] Quick recap on the logistics of shipping and manufacturing from China.  [13:22] What kinds of additional charges should you consider due to transportation issues?  [16:06] Freight costs are going up 30-45%. Is there price gauging? What can we expect?  [20:33] How is the factory situation affecting sales? What questions should we be asking?  [23:13] You may be paying upfront so that factories can secure raw materials. [25:54] What can you do to help your factory without hurting your business?  [28:23] The best thing you can do is stick with your supplier and increase communication.  [31:57] Forceget is in a unique position to provide more accurate information given their location. [33:07] Not everything that is being told in the media is correct. There is a lot of exaggeration.  [34:30] Know your product and understand how it is manufactured. [35:35] Connect with Burak and Forceget.    Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter Forceget Logistics Forceget Logistics on LinkedIn Forceget Logistics on Facebook Forceget Logistics on Twitter Forceget Logistics on Instagram

Now is the time to thrive, not just survive. I know that you’re being bombarded with negative information on all sides, so I wanted to address how you can look at ways to adapt your business during this time.    Your mindset, now more than ever, will be the deciding factor in whether or not your business succeeds. So many people feel betrayed by Amazon choosing to prioritize essential items for shipping, thereby cutting into their sales. This is a good thing.   How many more people are now on Amazon Prime because they can get their groceries and other essentials with the Prime promise? Those people are highly likely to stay on Prime and keep shopping after this pandemic.    I wanted to share with you ways you can “pandemic-proof” your business for the future while still finding ways to get your products to your customers. Listen in as I share two tactics that you can start using today.    Again your mindset during this time is the most important piece. If you succumb to the panic, your business will not make it through. Don’t panic, plan.   In This Episode: [02:24] Carlos shares why he switched his topic for this episode and how mindset is so important right now.  [03:40] We are in a pandemic, but your mindset is the most important part of success. [05:57] Why it’s a good thing that things will never be the same as they were before. [06:50] What to do about not being able to send items to FBA. [08:22] How you can still use your FBA account to dropship your products. [10:44] You need to create merchant fulfilled options on your listings.  [14:30] Learn why you need to add an offering not convert your current offering and what to do next.  [16:30] What you need to do if your FBM offering doesn’t get the buy box immediately. [19:30] We are on the right side of this… adapt and you will survive.  [21:33] Mindset, mindset, mindset… if you’re feeling despair, take a hard look at your mindset. Don’t panic [23:44] Amazon did a good thing by prioritizing essentials. This will end up in more buyers. Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter

No matter what business or industry you’re in, finding work-life balance is one of the most difficult endeavors you will take on. Building a business takes time and effort and all of that time and effort is taken from your family and friends. Listen in as Bradley Sutton of Helium 10 chats about being a driven entrepreneur, a family man, and how he has managed to find a small semblance of work-life balance. For Bradley, it wouldn’t be uncommon for you to find him sleeping at the office so that he can get that next thing done. He keeps a sleeping bag in his office and one of the unused spaces is like a mini-bedroom. That being said, he has found ample ways to manage building his career and his family at the same time. It starts with proper scheduling. If you live by a calendar, like most of us do, then block off time for your family and friends. Make sure that those spaces are untouchable by anyone else adding things to your calendar. (Also be sure to stick to your own rules and not work during those times). Bradley’s advice throughout the episode is spot-on. Everything from keeping on top of your health and fitness to understanding that when you love it (your business or career), you’re not really working. If you’ve been feeling the stress of overwhelm or burnout, then you need to stop and take a minute to listen to this episode.  You’d be surprised what kinds of returns you will see when you start taking time for your life as well as your business.   In This Episode: [00:29] Welcome Bradley Sutton to chat about work-life balance.  [01:59] How does Bradley find work-life balance while working long hours on his business?  [05:21] Many times the issue isn’t making the time, it’s actually being there, in the moment.  [08:20] Why Bradley blocks out time for his family on his calendar.  [11:54] Even with afternoons and weekends, his family would still prefer more time. [14:07] Is Bradley planning to join the Amazon Seller Cruise?  [14:52] What should you look out for to confirm if your work-life balance is off?  [17:58] Pay attention to your body because when you’re working long hours, your health is the first thing to go. [22:00] Connect with Bradley. Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter   Helium 10Billion Dollar Seller Summit Amazon Seller Cruise

As of this recording, I recently got back from a whirlwind couple of weeks spent at tradeshows and conferences. I wanted to take a minute and share why you should be attending conferences and then how to get back in the saddle when you get home. Listen in to hear why conferences that aren’t directly related to Amazon selling are still important and my methods for jumpstarting productivity.  It has been a crazy beginning of 2020 and March has been full of events. I went to Seller Growth Summit, Social Media Marketing World, and Podfest and learned amazing things at each one. Despite the fact that SMMW and Podfest aren’t directly related to Amazon selling, I still learn so much by attending.  Between the power of stories for product-based businesses and the correlation between live video across platforms and how to use those techniques on Amazon live video, I learned a ton. Same thing with Podfest. I do have a podcast, but even if you don’t have a podcast, there are tons of influencers who are using the products you sell. By attending Podfest I was able to network with tons of potential sponsors and connections. But when it’s all over and I get home, I tend to fall into the post-show blues. It’s really hard for me to get back to a state of productivity. Listen in as I share my tips and tricks on how to jump back as quickly as possible without wasting a ton of your valuable time.  In This Episode: [01:50] Get ready to learn how tradeshows and conferences can impact your business. [02:49] Carlos recently came back from Seller Growth Summit where he spoke on selling businesses.  [06:26] He followed it up by going to Social Media Marketing World. [10:03] Hear which session Carlos enjoyed the most and why.  [12:11] Why it’s important to know the goals you have going into each conference and session. [13:40] Next up, Carlos went to Podfest. Learn why this conference will still make a difference even if you don’t have a podcast. [16:40] There are podcasts for everything and influencers who need the products you sell. [18:12] Carlos’s upcoming conferences. [19:47] How to get past the post-tradeshow blues. [21:38] Hear the things Carlos does to get back in the saddle after a conference.  [24:34] The first full day back from a conference Carlos reconnects with his teams and recharging.  [26:17] What do you do to get past the tradeshow blues?  Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter Seller Growth Summit Social Media Marketing World Podfest ProsperHelium 10 Event Traffic and Conversion Summit

Miro Posavec is no stranger to hardship in business. After building up a very successful business in real estate and physical stores, the Great Recession swept the rug out from underneath him. He went from successful business owner to single father struggling to keep the lights on. He realized he had to get another business up and running as soon as possible. He sourced a healthcare product and started selling it to doctors and health stores in his area. When someone asked him about selling on Amazon, he initially declined, but later realized that it was the perfect place for his products.  It took buying and implementing the training in an online course to really move the needle in his business though. In two weeks, he went from selling $2k in products to $20k in products per week. Miro has overcome several obstacles since then and he keeps driving his business forward.  One of the ways he’s done this is by hiring skilled virtual assistants to tackle tasks in various parts of his business. He has relied on VAs for several years, but it wasn’t until he ran into Amazon PPC that he realized he needed to start hiring VAs with specific skills. It was an AHA! moment that has taken a great deal of stress out of running his business.  Listen in as Miro and Carlos share their hiring strategies and practices for onboarding new VAs. Is your business ready for some help? Learn exactly what to look for and how to bring them onto your team the right way.   In This Episode: [00:34] Welcome Miro Posavecs to the show to discuss how VAs boost your business.  [01:55] Learn more about Miro and how he moved into selling on Amazon. [05:20] How taking a course completely changed the face of Miro’s business. [07:07] Why Miro’s son inspired his products and how he’s doing now. [08:03] Overcoming obstacles is the key to success on Amazon and in business.  [10:27] Would Miro consider himself a successful Amazon seller? [13:44] What caused Miro to see the value of high dollar VAs?[17:48] Learn more about the process for using FreeeUp to hire team members. [20:36] How did the communication process work?  [22:24] Miro shares his PPC spend before and after hiring his VA and how his sales changed. [25:11] What does the cost of Miro’s skilled VA services cost?  [26:20] Hear Miro’s advice to new sellers about utilizing the services of VAs. Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter Amazing Seller Course Serious Sellers Podcast

Amazon is diving back into the world of live videos but this time around it promises to be much more effective. The first go-round consisted of Amazon employees creating live videos on their main home page but the results were terrible. Now if you have the right credentials, you can go live to help build awareness of your brand. You need to have an Amazon Influencer account along with Amazon Creator studio and you’re set. You can create paid and organic videos that have a couple of different placements but the best part is that your Live videos stay housed in Facebook. Your ability to bring awareness to your brand is going to be greatly enhanced by this new platform. We have been testing out Amazon LIve Video extensively and the results have been astounding. Listen in to this episode to learn who can go live, how you go live, and where your live videos are housed. A couple of weeks from now I will air part II and that is where we will discuss the strategy behind creating live videos. Let me know what you think about this two-part format. I’m curious to know if you’d prefer smaller chunks of information or longer episodes. Either way, you won’t want to miss out on this information because Amazon Live Video is going to be an integral part of your marketing strategy. In This Episode: [00:33] Welcome back. Get ready to learn all about Amazon Live Video.  [02:31] Two things I’ve been doubling down on are Alexa and Amazon Live Video. Learn more about how Live is going to change Amazon shopping. [05:07] This is not Amazon’s first foray into Live video, but it’s certainly more impactful. [06:17] Who can stream on Amazon Live Video?  [08:18] How can you live stream?  [11:30] You can get very creative with this! [11:57] Where does your live stream go?  [12:34] There are two ways to go about live streams, paid and free. [15:56] Your lives show up on your storefront when you go live.  [17:29] Learn how this process works.  [19:45] You have a shareable dedicated URL for your Amazon Live Video. What does this mean? [21:21] What happens to your Live Stream after you go live?  [22:23] Part two will involve tactics and strategy for going live. Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter   Twitch TV Amazon Creator Mobile App PixelMe Taobao

Galyna Parker is one of the founding members of the Wizards of Amazon Meetup group! She has been in e-Commerce for over 10 years and she recently started selling white label products without the hassle of finding her own manufacturers. Listen in as she shares how she got started in e-Commerce, what prompted her to look into vendors rather than manufacturers, and how that has translated into creating her own specially branded products. It all started when Galyna sought to have her own specialized color for one of the products she was selling. She reached out to the vendor that she was receiving the product from and asked if they could get it in her color and then sign off on that color so that no one else could sell it. They said yes and she has been selling that same product for more than three years. Fast-forward to today and she has been sourcing products through vendors rather than going direct to manufacturers because the customer service has been great and the time she saves is enormous. They take a lot of the work out of her Amazon selling business.  Listen in as she delves into why she prefers this route, what she recommends as the first place to get started, and how you can take measures to protect yourself from the sharks on Amazon. Learn how you can create a private label product without the extra hassle!   In This Episode: [00:37] Welcome back to the show. Galyna Parker is here to discuss her unique take on PL. [01:20] Galyna shares a bit about her background and how she got started in online selling. [02:47] What was Galyna doing before Amazon?  [04:00] Learn how to white label or private label without manufacturing.[06:23] How did Galyna go about sourcing her products? [09:07] Were there any additional fees for sourcing directly from the vendor? [11:38] Any cons in the relationship she has with the vendor?  [13:40] Why did Galyna decide to create her own brand through sourcing a new product?[16:04] Does she have to have conversations with the factory creating the product?  [17:40] Is she considering moving toward white label with her branded product?  [20:13] Why source rather than manufacturing your own products?  [22:24] How can you get started in this method and what should you be wary of? [24:07] Connect with Galyna. Links and Resources: Wizards of Amazon Wizards of Amazon Courses Wizards of Amazon Meetup Text “Amazon” to 69922 Wizards of Amazon on Facebook Wizards of Amazon on Instagram Wizards of Amazon on LinkedIn Wizards of Amazon on Twitter   Galyna’s WebsiteSeller ToolsetVA Services Galyna on FacebookGalyna on Instagram