12 Months To $1 Million On Amazon

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Download the slides from this podcast here:

http://www.freedomfastlane.com/1-million-amazon 

NOTE FROM RYAN: To those of you who saw me give this talk at Amazing Selling Machine, THANK YOU for your kind words, for your support, and for your appreciation. It made me so happy that so many of you were touched and affected by this talk.

Just like with Amazon, my iTunes lives and dies by reviews and subscribers. It would help me out immensely if you would subscribe to the Freedom Fast Lane show and leave a review inside of the iTunes store. Thank you!

Also, if you liked this episode, then you’ll love the podcast episodes on *what to do with your money once you earn it.* Listen to this show on how to make and keep one million here.

Want to see the original presentation from ASM3? Watch it here:

Now, onto the show notes…

In this week’s episode of Freedom Fast Lane Ryan Daniel Moran gives you a twelve month road map to having a one million dollar business on Amazon. Ryan makes $250k a month on Amazon alone and was recently a guest speaker at the Amazing Selling Machine conference in Las Vegas where he spoke to an audience of more than three thousand people. His presentation was such a huge success that he wanted to share his three steps on having a million dollar business on Amazon with you too. Do not miss this podcast!

Main Questions Asked

  • What does one million dollars a year in sales look like on Amazon?
  • What is the 80/20 for where you rank on Amazon?
  • What does it take to get out of the grind on Amazon?
  • How do you get out of the cycle where you are spending more money that you are making?
  • When should I release my second product?

Key Lessons Learned

  • You’re not in business until you take your first sale (think of it as stage zero)
  • You need 100-150 sales on Amazon per day to make one million dollars a year
  • The longer vision you have for success, the more successful you will be
  • The more that you invest upfront the faster and easier your path to success will be

Stage 1) Grind

  • First 3-4 months after you make your first sale
  • When you are making less than 20 sales a day and you have less than 50 reviews
  • The objective of this period is to just get moving
  • Ask yourself ‘what is going to produce immediate results?’
  • 20% of actions will produce 80% of results
  • On Amazon, the 80/20 rule is where you rank for keywords (not where listing ranks on Google or if people type in your product name)
  • Amazon gives weight to quantity of sales
  • The entire goal is to generate enough sales and get enough reviews to rank for your keyword on Amazon
  • To get out of the Amazon grind you need to action the following:
  • I) Product launch
  • 2) Develop review system
  • 3) Pay per click
  • If you pump Amazon’s ranking system with sales and reviews you will rise in ranking
  • Spend money and go in the red if you have to in order to get moving because you will gain a nucleus of customers
  • Repeat the process until you are out of the grind

Stage 2) Growth

  • Assumes you are getting regular sales per day and have a consistent channel
  • 20-50 sales per day on Amazon with 50+ reviews
  • You are making more than you are spending
  • The only objective in stage two on Amazon is to release new products
  • In other businesses the objective is about rolling out different revenue streams e.g. upsell, another product or new location
  • Release your second product when you can easily duplicate the process without detracting from what you are currently doing or destroying your cash reserves
  • When you have two products there is crossover and you have more authority in Amazon so you rank better for keywords, combined purchases, and repeat buyers
  • When you are building a business you should never release a product that doesn’t serve the customer base of your first product
  • Ask yourself ‘what is the net product that your customer would buy?’
  • If you are outsourcing customer service or if you are doing it yourself bring it in-house to someone qualified and get yourself out
  • Customer service often drives repeat sales

Stage 3) Gold

  • Multiple products bringing in consistent cash flow
  • At target 100-150 sales a day on Amazon
  • Now you can pay yourself out of the business (until you are at this point, don’t!)

Three parts of Stage Three:

i) Product Customization –Different sizes, colors, flavors, packaging

ii) Customer Data Collection-Capturing email addresses, direct mail, follow up sequences

Roll out multiple social media accounts (at least 3 places to psychology bond customers to you)

iii) New Traffic Channel -Once you have ruled out multiple products on the same channel

-Think about other places to get traffic outside of your channel

On your iPhone? Listen on iTunes here

Links to Resources Mentioned

http://www.freedomfastlane.com/1-million-amazon 

Click to Tweet!

Want to have a one million dollar business on Amazon within 12 months? Find out how in this podcast http://www.freedomfastlane.com

Ryan Daniel Moran makes $250k a month on Amazon. He shares his secrets in this @FreedomFastLane podcast http://www.freedomfastlane.com

Click here to subscribe on iTunes & receive free automatic updates from Freedom Fast Lane!

RyanMoran

Ryan Daniel Moran

Ryan Daniel Moran is one of the most sought after speakers and thought leaders on lifestyle freedom in the world. He specializes in creating extremely profitable cash flow streams and businesses without compromising your lifestyle. Ryan is passionate about inspiring, educating, and empowering people to live extraordinary lives, and he believes that anyone can live the life of their dreams as long as they take responsibility for their results and take consistent action toward getting what they want. When Ryan isn’t inspiring his listeners and readers, you’ll find him at an improv show, a Cleveland Indians game, or traveling the world.

review tutorial

  • Wow,
    Thanks Danger!

    I’m always checking if there is a new episode of freedom fastlane, look forward to it and never disappoints.

    Laid this out really well, have to get out of the grind!

    Thanks again!

  • Elizabeth

    FANTASTIC!! I watched you at ASM on the webcast because I couldn’t make the trip. This is great info and I will defintely use it to “relaunch” my product.

  • Hi Ryan,

    Great Podcast. I also enjoyed your presentation at ASM3 live in Las Vegas. In fact, I think your
    presentation was the only relevant presentation that I could relate to, everything else was way over my head. I might be able to use some of that information later but your description of the “grind” resonated in me. I’m in the grind. Been in it since April 2013 so I know what
    you are talking about. I’ve come real close to dumping my Amazon inventory and closing down my listing but I haven’t finished the whole “grind” dance, and time is running out. My inventory is going into long-term storage in 15 days, so I’ve got to get moving with some of your tips. Wish I had heard this presentation a year ago. The only other thing that I got out of the event was to find an accountability partner which I did. Thanks for your podcast and resource. I hope to leverage everything you’ve talked about.

  • Wolfgang

    Hi Ryan,

    I am just starting out on Amazon, this is great information, and has made me realized that I need to invest wisely, I didn’t have the money to buy Amazing selling machines, but I will use this information in the best way that I can.
    I know that I will have to invest in my first product, and maybe even loose money at it, in order to succeed.
    Best of luck,
    Wolfgang

  • Arno

    Hey Ryan,

    Great podcast. I wasn’t at ASM but the podcast was easy to follow. Thanks for giving away such good free content. I’m in the middle of sourcing my first PL-product, so these are great tips going forward!

  • B1016

    Great data! Simple step-by-step instructions – so key to know when to do what!!!

  • Hi brilliant podcast and simple but very powerful road map, a brilliant combination of talking the talk but more important doing the walk! Have subscribed to the podcast and looking forward to having you on our team 🙂 thank you

  • Adi

    Great presentation, step-by-step instructions.
    Thank you Ryan!

  • ian

    Thanx so much for sharing…Ive bin colecting information frm everywhere n jus getting more confused by the day…wot youve shared makes it so much easier to understand n not so damn complicatrd as soo many others make it sound.Thanx to you I now have the information to plan day to day activities I need to do in order to atchev the bigger goal.Awsum …many many thanx…I have zero budget so I knw I have a hard raod ahead…but it can be done…

  • Hey Ryan,
    I had the pleasure of being in Vegas and watched you speak on this topic…..WOW!

    Without a doubt, the best speak of that day and in my opinion, top 3 for the entire event.

    Want to thank you for dumbing everything down for someone like me who is starting on this Amazon journey. You have a fan!!!

    Jaime

    • Thanks Jaime – what a great thing to say!

  • Hi Ryan, I wasn’t at ASM3 event but I heard about this presentation. I’m an ASM1 mentor and your strategy very closely follows my own experience and teaching. I shall be passing these nuggets on to my students. Cheers Chris

  • V

    Hey Ryan, thank you for the great podcast, it has a lot of very valuable information and ideas.

    The most important lesson for me from the podcast was that in order to be successful you need to focus on one thing that is the most important immediate thing to do “RIGHT NOW” or the so called “the 80/20 rule”. Know it but not always practicing it.

    I have one question that I’ll appreciate if you had the time to answer it.
    On the slide #15 named “Product Launch” on the end of the page you say: “This is magnified when combined with a Super URL or URL changer”. I have looked online and tried to understand what do you mean by that. Can you please explain how it works and it is about?

    Thanks!!

  • Pascal Lafond

    Hi Ryan,

    Your speak was one of the few that really made me regret not being able to make it to the ASM3 event. I’m extremely thankful for the way you simplify things and how you make my goals seem more achievable. I’m very happy to be part of this group.

    Thanks!!

  • brian

    Useful. I went thru ASM. Have 5 products with quality listings and followed all ASM. Main 2 products have close to 70 reviews that are high quality and convert….done promo launches and spend money adwords and amazon ppm and only making less than 5 sales a day total. Every time I get a product going on Amazon then tons of competition comes in and feel almost sick to stomach now sitting on $20k in inventory with sales not back up…wish it was as easy as it sounds.

  • Zoe

    Best episode ever! I really like how you break things down logically and give detailed information, and then you restate everything in crystal a clear concise way at the end. Very generous with information we can put to use.

  • Pingback: 20,000 Amazon Downloads w/ Nick Loper | Marketing Optimization()

  • Chris D

    For the $1 offer for the kitty scratcher, why didn’t you raise the price to $35.00 so everyone would get free shipping and not just prime members. Just wondering if there are any potential negatives to doing this?

    Thanks!

  • sumeet khullar

    Hi Ryan,

    This is brilliant content, thanks and so much for sharing.
    Sorry I missed you at the ASM live event

    Many thanks
    sumeet

  • Jenny

    Great info here. So if I don’t pay myself for the first twelve months, what sort of budget do I need to plan on before getting started? Enough to get me through the first 3 months? $1500 enough to cover giveaway-product, sale product, amazon ads and amazon fees? Need enough to replenish stock in the beginning. Thanks!

  • Hi Ryan,

    may I kinldy ask you, how can I be a member of Tribe…I was looking for this masterind group which you mentioned in this podcast and are going to start in October, but I wasnt able to find it.

    Thank you so much for your help and support

    Daniel

  • Ace

    Great words. I wish I could implement them to reality….

  • Andrew

    I have listened to this podcast which is by far the most helpful to me at this time to stay focused on my amazon business but you say that it takes 50-100 sales a day to make it into a million dollar business, well what if your product does lower sales but gets about $100 in profit from those sales at say, 10 sales a day. Will Amazon Metrics still allow you to scale that up and is a higher end product price point worth the time for this type of launch?

  • Ron

    Hi!

    Thx man, I’m listening you from Finland and you and your podcast are awesome! Thinking of starting an Amazon business on a certain product. Can it be ran from here, outside of the United States?

    Keep on going!

    • Hey Ron, it can. I don’t know all the differences, but I have many students that are based overseas. They either sell in their own countries, or they get a US based address and are golden!

  • Tim

    Great video. Very inspiring. Been interested in Amazon FBA for awhile. Thanks for the kick start!

  • Tom

    Still an amazing video even almost a year on.

  • Megan

    Thank you Ryan! I saw you in Las Vegas and you were inspiring then, now after hitting a slump with my product I am totally rejuvenated! Thank you!