hey guys Stefan here from project life
master comm in this video I'm going to
show you how to find a profitable
product to private label and sell on
Amazon now hopefully you enjoyed the
last video that I released to you that
give you an overview of how I sell on
Amazon how much money I've been making
the results I've been getting and if you
haven't seen that I recommend going back
to the previous video and checking that
out I'll have a link to the video in the
description or somewhere on the blog but
make sure to watch that just because
and before I get into this checklist and
what I have here I also want to
encourage you to get on the email list
so that you can get other training
videos i'm going to be releasing on
selling on amazon just go to project
life master comm slash FBA okay project
life master calm slash FBA enter your
email address and i'll be releasing more
specific training and helping people out
something on amazon there okay now by
the way here's the product that i've
been selling my l-carnitine that i
mentioned in the previous video and it's
a it was cool to have a physical product
like this because everything else that
i've sold online has just been digital
you know ebooks video training youtube a
blog it's not like a real asset so when
you have like an actual physical product
like this it's pretty cool to have this
because you can give it away to your
friends or take it yourself and benefit
from it and i think there's just a
really cool feeling having a physical
product okay now how did i decide on
this how do you decide on your product
what you want to sell there's just so
many opportunities out there on amazon
there's really millions of different
niches markets and potential products
that you can sell i have a checklist
here and i'll probably include some more
future videos just kind of walking you
through a little bit more of the process
for this but for myself first and
foremost the very first thing you got to
look for is a product that has a
profitable market in high demand now i
think a lot of people you know when they
approach this business or any business
they think that they have this great
idea they have this great idea for a
product you know they know that it would
sell well they love it they're
passionate about it but they're not
going through this checklist to make
sure that it's compatible
with Amazon and I've seen this happen
with Kindle books people release a book
in the market and it doesn't sell same
thing can happen with Amazon physical
products as well so even though you
might have a great idea or something you
might want to really do you need to
really ensure that it meets these
guidelines and the guidelines have
courses like the amazing selling machine
all the guidelines that they have before
you pursue it and you make the
investment and put in the work for it
because the worst thing that could
happen is you pick the wrong market the
wrong niche the wrong keyword you invest
all this money in an inventory you
launch it you get all the reviews you
rank it but it doesn't sell okay that
you don't want that to happen so you
want to make sure you you do the right
research beforehand and do all of your
due diligence to ensure that you made
the best decision for the product that
you want to sell okay so even though you
might think it might be a great idea and
it might it might very well be but you
want to again make sure that everything
makes sense in the standpoint of Amazon
I'll give you a quick example of this I
actually wanted to sell a foam roller
and my girlfriend who's been doing
really well in Amazon as well she wanted
to sell a water bottle and you know this
is the idea of the type of products that
wanted to sell before being invested in
the amazing selling machine and so we
are you know planning out we wanted to
do you know Sully's different products
and stuff but once we did the research
and we went to the guidelines and
everything of the amazing selling
machine had it just it makes sense to
start with that product at the very
beginning simply because it's just way
too competitive you could have a great
idea but if the competition is scary in
the case of water bottles where they're
you know as price to have thousands of
amazon reviews that can be a very
challenging market to get into and
especially if this is your very first
time selling a product online I'd
recommend to go after something that has
a good market has high demand but you
want to be aware of the competition as
well and something that you can
reasonably compete with and be
successful at okay so that's just an
example of how we had an idea first of
what we want to sell but that actually
shifts and changes once you find out the
right guidelines to do all the research
that's involved in that process
okay now the very first thing as I
mentioned profitable market high demand
there has to be a market for the
one of the best ways to find what's
selling on Amazon is just looking at the
bestseller lists you know Amazon has so
many different categories from sports
and health and fitness and beauty and
kitchen appliances and outdoor
activities camping you can basically
look in all those different categories
and look to see what products are
selling on the bestseller lists of those
categories that will give you an idea of
what's selling what's hot you also want
to look at the Amazon bestseller ranking
for each product as well there's a
specific formula of numbers and stuff I
don't have an exact formula for you I
know an amazing selling machine they do
they give you the exact numbers and the
guidelines of the range you want to stay
in when you're doing the research and
everything involved in that but you just
want to make sure primarily the products
selling and that there's more than one
product that's selling in that market
that will give you an idea of how well
you're going to do if you release a
product in that market and you ranked it
number one number two number three
number four number five okay so you can
assess the competition to see how well
they're doing first before you get into
that market okay that's a very first
thing the next thing is I put reasonable
competition and reviews and the reason
why I put reasonable competition and a
low competition is because low
competition I don't think really exists
in an Amazon much anymore
any any market that has high demand as
profitable will be competitive and if
it's not right now it eventually will be
because people will find out that it's a
trend that it's a market that's an
opportunity and they'll get into it so
you don't want to be afraid of
competition competition is good
competition is what actually allows us
to identify if there's a market if
there's high demand if we can look at
our competitors and look how well
they're doing if they're doing well that
gives us confidence and belief that we
can do well as well so competition is a
good thing but I put reasonable
competition so you want to look at the
competitors and you want to look and see
the job that they're doing you want to
look to see how many Amazon reviews that
they have and whatever number of Amazon
reviews they have that's kind of like a
a gauge to for you to know what your
dude in order to compete with them so if
you're in the water-bottle market and
you want to do that cap which is totally
fine and the other products there have
thousands of amazon reviews right they
have 2,000 amazon reviews well the only
way you can compete with them is you've
got to get 2,000 Amazon reviews you have
to get more than that to compete with
them okay so that's a lot of work that's
a lot of commitment and everything is
definitely possible but this is a lot of
work to get to that level at that point
okay so the reviews of the competition
gives you an idea of what's involved you
know if you approach a niche where the
the cut the competitors have you know a
hundred Amazon reviews or 200 or 300 or
400 maybe that's a more reasonable
number that you can compete with and you
know with your product you're going to
be in it for the long haul you're going
to be committed to this over the next
year so it's not unreasonable to think
that you can get a couple hundred Amazon
reviews for your product in a year so
you have to look at the competition in
that sense the reviews everything
they've done and look to see can I do a
better job than them okay if the answer
is yes then that's that's it that's a
checkmark in my book you know that that
means it's a good market that's
worthwhile for you to pursue because you
know you're willing to do what it takes
to compete with them okay you also want
to look at how you can differentiate
from the competitors as well you can't
just sell the exact same product as
everyone else you want to differentiate
in some way in my case because I'm
selling a supplement I can differentiate
not as much on the the supplement
because the ingredients are pretty much
the same the quality of the ingredients
can be a way to differentiate be more
natural organic but more so with
supplements it's the labeling it's the
packaging the design because if there's
two different products you know
supplements the one and they have the
same ingredients some one it's going to
sell better it's going to be the one
that has a better packaging better
design is more aesthetically attractive
to people so packaging is also great and
so when you look at your competitors you
can get an idea of how you can stand out
in terms of the packaging the labeling
the design of the product as well as
other features or benefits as well you
know if it's a foam roller for example
and everyone has a black foam roller and
you can say hey you know what there
might be a market for me
to do a you know a red foam roller or a
blue foam roller you know some sort of
different color that's a way that you
can differentiate okay next you want to
make sure that the product sells more
than ten dollars and really ten dollars
is still relatively low and the reason
is you've got to factor in the costs
that you're going to have to manufacture
your product okay you'll find that out
from the suppliers and further research
you're going to have to do but also this
the shipping of shipping your product
okay that's involved in your total costs
as well as the Amazon fees that they
take they take fees based on different
categories okay whatever category you're
in is you around fifteen percent but
they also take feeds based on the
shipping fulfillment and whether or not
you want them to put on certain stickers
on your product and things of that
nature as well so you have to factor in
that and that you know if you're selling
a product less than ten dollars the
profit margins aren't high enough for
you to really be successful make a lot
of money so I like to sell products that
can that can sell for over ten dollars
fifteen twenty thirty forty and even
beyond that because if you can find a
product that you can make for a couple
dollars or less than a dollar you know
in China or something like that and you
could sell it for twenty dollars and
then Amazon takes theraphy that's a
really good profit margin so you want to
find a product that you can sell at a
premium price as well that you can sell
that the numbers make sense in that
regard and again in the amazing selling
machine they have more of a step-by-step
protocol for that but just you know the
best advice I can give is just make sure
that it can sell for more than ten
dollars ideally you know even up to
twenty dollars or more it's just going
to benefit you more in terms of the
profit and the price variance that you
can have with your product as well now
another point as well when you sell a
product for less than ten dollars on
Amazon they actually list it as an
add-on item okay and when a product's an
add-on item you can't just buy it
directly you actually have to customers
have to buy some product and then buy
your product as an add-on in order for
them to buy it so it's a little bit
complicated what I just said but just
trust me don't don't do a product less
than ten dollars okay next is you want
to make sure it's light and relatively
small at least for your first
product and the reason for that is the
shipping you know if your product is
heavy or big then it's going to be more
involved shipping even is shipping just
from your supplier to the amazon
fulfillment centers this can be costly
in order for you to do that so I do
recommend having a product that is light
relatively small okay
just not ginormous refrigerators or
anything like that it can expand a
product line as well that's really
important so you want to think of what's
the bigger picture picture what's the
direction you want to go in with this
and you want to think about building a
brand okay so in my case I'm selling a
supplement I've already thought ahead of
what I want to do for my future products
you know I'm building a brand called
life mastery nutrition I've set up a
corporation for it I've got it
trademarked I'm going to be releasing
other products in that product line
other supplements that you know all fit
in under that umbrella under that brand
you know if you're doing like camping
equipment you want to think what are the
other camping items that I could release
and sell in this market if you're
something Beauty then you want to think
about what are other Beauty related
products that I could sell what how can
I expand what's the big vision what's
the brand that I really want to create
here so having that in mind not just
though you know one-off product but
something you can build a brand around
is more beneficial long-term because
when you're selling online you're
building a customer list you're building
followers you're building people they're
going to like your products and so when
you can offer and release other products
to them and offer discounts and other
products it's just more advantageous for
a seller being a seller online and the
last one that I had is probably not the
last I'm sure there's more but by my
criteria it's also a product that you're
passionate about now you don't have to
be totally passionate about it I know a
lot of people actually selling products
that they don't really even care for
themselves but it is an advantage if you
are somewhat passionate about whatever
it is you're selling you got to keep in
mind of me whatever product you decide
on is something you're going to be
selling for years to come it's something
that you're gonna have to put in extra
work hours time whatever it is to market
and sell it you know for me I chose a
supplement and not some other products
because the supplements are things that
I personally take in my life I've done
Fitness cop
toons before I'm into fit fitness and
health I wanted a product I can be proud
of that I could use I know I can market
the product I know that you know the
direction of my business I want to
release more health and fitness related
YouTube videos I could promote on my
blog I just know it's a product that I'm
passionate about and I can sell online
you know my girlfriend on the other hand
she's into beauty
so she's selling a beauty product
something that she can personally use
and you know market on YouTube or a blog
or Pinterest or Facebook or whatever it
is so it does help if you are passionate
about the product because if you are
you're going to put in the work to make
it work right if it's something that
you're not that passionate about you
might just kind of give up because you
don't have the passion to keep you going
with it
if you have the passion you're more
likely to you know get past all those
obstacles and barriers that you might
have along the way so ensure that you
have some passion or at least some
interest in whatever it is that you want
to sell as well okay so this is kind of
my checklist
it is probably again there's more
criteria and things you want to look for
especially in terms of specific numbers
because you need to make sure that the
numbers make sense and I can't tell you
specifically the numbers because every
product every industry industry is
different I know an amazing selling
machine the reason why that program is
so valuable is they give you the
specific criteria to follow what works
and what the best model is so it helps
lower the risk and that's why you want
to spend extra time in this area of
choosing the right product because again
you want to lower your risk you don't
want to spend money on an inventory or
get started spend a few months in and
then find out your product doesn't sell
because you missed one of these points
or one of these critical steps and doing
all the proper research okay now that
really the next step is once you've
decided on your product is now
researching out your suppliers and
manufacturers alibaba.com
is a great place you can find a lot of
suppliers from China even just looking
on Google and typing in your product and
typing in the supplier or manufacturer
you can find a lot of suppliers and then
you just got to contact them you got to
contact them and just ask them how much
is the product cost to manufacture
what's the minimum order
quantity what's the lead time the
turnaround time in terms of
manufacturing it and shipping it you
know what are the options with the
labeling and the private labeling you
know yeah you guys have like I know a
lot of suppliers they have in-house
labeling you know that you know a lot of
supplement companies you don't even have
to get a graphics designer they'll do
the graphics and design for you you can
want to make sure you find out all the
information about the product so that
you can use that information in your
marketing that you're proud of the
product what makes it different from the
other products how is it made you want
to ask and all you know these questions
to contact the suppliers and also get
samples from them as well and have them
ship you a sample a lot of them will
send you a sample for free you just
going to pay for the shipping and you
can test out the product to make sure
it's a product that you like and before
you make your inventory order okay so
there's a whole process for that as well
now again I want to encourage you if
you're interested in future training
that I'll be releasing on Amazon FBA
selling on Amazon then again get on the
email list project life master comm /
FBA I'll have a link in the description
of this video as well but hopefully you
enjoyed this video and it's going to
help you just smooth you know help the
process of deciding on the product that
you want to sell a lot of the stuff I
wish I knew when I got started but you
know knowing this stuff is just going to
make it that much more easy for you to
sell online so thank you for watching
this video I'll see you in the next one
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