Wed, 1 June 2016
Any change to your life and lifestyle will require you to make some sacrifices. Today’s guest is a tremendous example of a person who was willing to put in the kind of hard work required so that she could do what she wanted in her life - stay at home with her kids. Raquel’s story is one that we hear all the time, a parent who longs to have the time with her children and is willing to do anything to make that happen. You’re going to hear a tremendously inspirational story as Raquel tells how she went from selling on Ebay to Retail Arbitrage on Amazon and why she decided to move toward private labeling, the decision that has so far grossed over $73,000 in sales. Make sure you listen tot his one - it’s worth it.
The challenges with Ebay and Retail Arbitrage.
For a while Raquel was making a good amount of profit finding things to sell on Ebay. She had great margins and was able to find some things that were selling pretty well on a consistent basis. But the difficulty was that she had to take new pictures for every listing and had to do all the shipping herself. That led her to Retail Arbitrage on Amazon which was worlds better, but it still required the daily hustle out in stores and closeout sales that she was trying to get away from. That’s when she began learning about private label sales and connected with the TAS community. You’ll want to hear Raquel’s story to hear another path that has been followed and how she began with $100.
Multiple products within the same niche.
Raquel’s approach to finding products was to look through various resources to discover product ideas. One of those was a junk email that she received from a company that was unsolicited. That’s where she found a bundled set of products that she felt she could purchase, split apart, and remake into her own bundles. That enabled her to have multiple SKUs to sell within the same niche, which was a great way to diversify her approach to the market. That has enabled her to get cross sales and to begin customizing products to offer in addition to the things she’s already selling. Her first custom order from China is now underway. Be sure you listen to Raquel’s story - it’s full of insights into how things could work for you when you’re just starting out
How Raquel used reviews to determine what she could do to offer in-demand products.
As Raquel began offering her first products she spent time reading the reviews of her competitors. It was in those reviews that she discovered things that buyers of those products wished were different about the products they were already buying. That gave Raquel a lot of insight into modifications and unique tweaks she could make to her products to make them more desirable to buyers and thereby take over the sales of brands in her niche that are not providing those customized options. It’s a “gold” way to create true value for customers and carve out a niche for themselves that will be sustainable long term.
We want to build a business that enables us to give powerfully.
In this conversation Scott asked Raquel about her future plans for her private label sales business. She and her husband have given a lot of thought to what they want to do with the successes they are experiencing. Her husband truly enjoys his job so there are no plans for him to quit. But the two of them have come to a place that they hope to pay off their house within a short time and then be able to meet needs of people they come across. That’s a powerful “why” for anyone, being able to make the lives of actual people better.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER