Key insights

• 💼 Built successful Amazon FBA business called Soso to fund a European trip for family
• 💰 Generated significant revenue within a year
• 🔍 Explored Amazon FBA strategies: online arbitrage, retail arbitrage, wholesale, brand direct, and private label
• 👶 Navigated challenges of starting Amazon FBA business while being pregnant and working full-time
• 📈 Planning to scale the business to a million dollars in revenue
• ⌚ Started retail arbitrage business while pregnant, Saw initial success with increasing revenue and profit, Faced challenges with time, expenses, and software costs, Realized the impact on personal time, especially with a newborn, Continued the business despite challenges
• 📊 Started by opening business credit cards with substantial welcome bonuses, Transitioned to online arbitrage using Amazon FBA and software like Kipa Product Finder, Generated significant revenue and profit within a few months, Made strategic changes to scale the business in September 2023
• 🌏 Outsourcing prep work to a third-party company and hiring virtual assistants from the Philippines to handle admin tasks and sourcing products, High expenses in October despite $18,000 revenue, $171 profit; November: $31,000 revenue, $8,000 gross profit, $5,000 net profit; December: $34,000 revenue, $5,700 profit, Most profitable period coincided with Black Friday and Christmas, bringing in $51,000 in Revenue with $11,600 profit, Generated $203,000 in Revenue with a profit of about $34,000 in the first full calendar year of running the Amazon business, Lessons learned about consistency, reinvesting in the business, and the importance of growth and sustainability
• 📈 Managing a business involves good and bad days, Consistency leads to efficiency, Adaptability is crucial for improvement, Seasonality affects sales, Networking is important for opportunities and belief reinforcement, The speaker's business has achieved $70k in revenue and $1k in net profit with minimal time investment
• 🔄 Transitioning to wholesale and brand direct strategy to scale the business, Leveraging virtual assistant to research and contact brands, Accessing capital through business credit cards for scaling without using own capital

Q&A

• How did the speaker transition to wholesale and brand direct strategy for scaling the business?

  The speaker transitioned to wholesale and brand direct strategy, leveraging a virtual assistant for research and contacting brands, and accessed capital through business credit cards for scaling without using own capital.

• What aspects did the speaker emphasize in managing the business?

  The speaker emphasized the importance of consistency, adaptability, seasonality, networking, and belief reinforcement in managing the business, achieving revenue and profit with minimal time investment.

• What were the business profits and key lessons learned over a year?

  The business generated significant profits over a year, with key lessons learned about consistency, reinvesting in the business, and the importance of growth and sustainability.

• What insights did the speaker share about outsourcing prep work and hiring virtual assistants?

  The speaker shared insights about outsourcing prep work and hiring virtual assistants to handle admin tasks and sourcing products, effectively managing the business.

• How did the speaker scale the business and achieve significant profits?

  The speaker started with business credit cards, transitioned to online arbitrage, made strategic changes, and achieved significant profits within a few months.

• What were the initial challenges faced by the speaker in retail arbitrage business?

  The speaker faced challenges with time, expenses, and profitability in the initial stages of the retail arbitrage business, but continued despite the difficulties.

• How did the speaker navigate challenges while starting the Amazon FBA business?

  The speaker managed to navigate the challenges of starting an Amazon FBA business while being pregnant and working full-time, demonstrating perseverance and determination in overcoming obstacles.

• What strategies did the speaker explore in Amazon FBA?

  The speaker explored various Amazon FBA strategies including online arbitrage, retail arbitrage, wholesale, brand direct, and private label to generate revenue for the business.

• What inspired the speaker to start the Soso business?

  The speaker was inspired to start the Soso business in order to fund a European trip for family members using revenue generated from Amazon FBA reselling.

• 00:00 The speaker built a successful business called Soso by getting into Amazon FBA reselling and generated significant revenue within a year. The business was inspired by the idea of travel hacking to fund a European trip for family members. The speaker navigated the various strategies and learning curves associated with Amazon FBA while being pregnant and planning to scale the business further.
• 02:26 Started a retail arbitrage business while pregnant, saw initial success, but faced challenges with time and profitability. Continued despite difficulties.
• 04:41 Starting with business credit cards, transitioning to online arbitrage, achieving significant profits, and scaling the business with strategic changes.
• 07:13 A seller shares insights about outsourcing prep work, hiring virtual assistants, and his Amazon business profits over a year.
• 09:36 Managing a business involves good and bad days, consistency leads to efficiency, adaptability is crucial for improvement, seasonality affects sales, networking is important for opportunities and belief reinforcement, and the speaker's business has achieved $70k in revenue and $1k in net profit with minimal time investment.
• 12:01 Transitioning to wholesale and brand direct strategy to scale the business, leveraging virtual assistant to research and contact brands, accessing capital through business credit cards for scaling without using own capital.