“I eventually found this Amazon FBA model which made just so much sense to me because I could see the value of the tangible products, I didn’t need to build trust with the customer, I didn’t need to do anything but create a better widget and present it to the customer base and they would react with hopefully, sales.”
“At the beginning stages of your journey, I highly recommend spending 3-4 hours a day, as much as you can , listening to as many different podcasts, youtube or if you’re able to buy a course for whatever it can cost you because saving time in the long run will save you a lot of money.”
“If you want to expand a business, it really really takes a lot of cash and so you need to be very cognizant of what your goals are if you’re going into a product.”
“I’m looking for at least 100% ROI, the reason for that is if you go under a 100% ROI, it means that in order to double your inventory, you need to add more capital and so that’s not a great thing.”
“My mindset is always find the best products on the market that currently exist and read the reviews, see what people really really want and find a way to add to that value.”
In this episode of Actualize Freedom podcast, Danny goes live in Canggu, Bali with Eric Dahl. Eric has built a multimillion Amazon business that is built off the opposite of what the industry ‘gurus’ preach.
Erik expounds on the market that he went after, the pitfalls and hurdles involved in pursuing this business. He shares some advice on how to start one’s business journey as well as valuable tips on cost saving, product sourcing and handling, and other nuances that should be considered in running the business.
1:16 Eric’s background and how he ended up in Bali
3:33 Examples of Eric’s decisions that go against the grain
11:10 Eric talks about his market pricing and product research
16:53 Eric shares some approaches on how he runs his business
23:08 Strategy recommendations for anyone starting out
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