Searching for products to sell on Amazon is akin to an Easter egg hunt.
On Easter all these little kids are out searching for tiny plastic eggs with candy inside of them. They run around, searching for eggs, looking everywhere. Kids are pretty smart: they can tell where parents will hide them. They all run to this big oak tree, finding tons of eggs.
But you're the smart kid. You don't search by the oak tree.
"There are so many people over there, so I'm going to look somewhere else."
You head over to a large rock nobody's noticed. There's a hundred kids at the tree, but only fifty eggs. The rock can't hide as many. It can only hold ten. But there's only one of you.
This is what finding a niche product is like. Don't look where everyone else is looking. Be smart. Think different.
You’ve seen the products on Amazon that start to explode. Everyone talks about them and everyone’s selling them. There could be 4,500 sellers all selling the same thing. Nobody is a top seller. Only the two or three sellers who started first and got the biggest share of the market at the beginning are doing well.
Why is that?
Because everyone wants a piece of the pie. When everyone wants a piece, the majority of people will get nothing. A small percentage of people will get just a bite, and very few get the nice big piece on their plate.
I'd rather fish in a pond with only 20 fish in it, by myself, than in the ocean, where there are 10 million fish, but everyone and their uncle are out fishing. My chances of finding a catch there are much less.
Don’t go with what the masses are saying. Find something different.
I was blown away by this product I came across on Amazon. It is not a top 10% seller, but it’s doing pretty freaking well.
This is a five pound replica of human body fat.
This thing is disgusting. It almost looks like something you're supposed to eat. It's made for medical students studying anatomy, and people also use it to help motivate them to lose weight.
The first time I started making good money online was on eBay. I was searching for products to sell and went to the "Other" category. Then, almost for fun but also out of desperation, I clicked on "Cemetery".
Something deep inside me said I needed to stop looking where everyone else was. Stop fishing in the ocean. Find a pond out in the middle of the nowhere that may have fewer fish, but has no competition.
I found a product in the Cemetery category that sold really well. For over a year, that single product brought in several thousand a month for me.
Be smart. Don’t get attached to what everyone else is doing. Stop and think. You don’t want to compete with everyone in the world. If everyone is running in the same direction, there may be something they’re missing. It's up to you to find out what.
Tip #3: Focus on what the supplier values
Rule #1 in all negotiation is to focus on what is valuable to the other party first. Then it's much easier to get what you want as well. The final deal needs to make sense to both sides. Chinese suppliers value two things above anything else: friendship and long term business. Friendship often results in long term business. Chinese suppliers value friendship because a strong friendships between vendor and customer is a healthy business practice in Chinese culture. They will often address you as "friend."
They value long term business relationship because the cost of acquiring and learning the needs of a new customer is much more time consuming than working with the same customer for years. Business with an old customer is much less risky than business with a new customer. New customers are unpredictable and often flighty, resulting in wasted time for the Chinese supplier, going back and forth in a conversation with a customer who ends up not buying. So how do you do this? In your communication with the supplier, mention "friendship" and "long term business relationship." Weave it in naturally and let them know that you value both of these highly. Look again at my example message to a Chinese supplier: Hello Cynthia! I own a US company that sells aromatic oils and accessories. I am looking for a manufacturer who can create an aromatic oil holder. I am looking for a manufacture to build a strong friendship with for long term business relationship. I would love to see if you can create the model I need. Please, see the specs in the image I attached to this email. I would appreciate your prompt response.
We are looking for a good business relationship with a manufacturer!
Notice that I focused on what they value. I stated two qualities they value highly: 1) long term business relationship and 2) friendship. These two qualities go a long way in Chinese business culture, so leverage them!
Don't be surprised if you get responses referring to you as "dear" or "friend," while these names of endearment might seem strange and awkward to us in the west, but to the Chinese, they are standard. The reality is, if you are willing to do business with them in a long term relationship, then you are, by extension, their friend. Concepts like friendship, loyalty, long term, integrity, it all mixes in their culture of business.
Couldn't we stand to learn a thing or two from that style of doing business? How many of us here in the west have worked with corporate entities that we would categorize as soulless? The best business relationships form like friendships. They are people you want to stick with you. That's why I encourage you to be cautious about who you allow to do business with you. Finding the right supplier is a critical part of this process, and our members have access to all the tools and strategies for finding good people to do business with. Please consider journeying with us on this path of relationship and margin building. Don't let communication be a barrier to your passive income freedom.
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Married a pearl. Fathered 4 miracles. Fired his boss. Turned a single dime into $104,857. Today, a self-made millionaire, Seth and his team of 8 badass coaches teach entrepreneurs how to build passive income on Amazon.
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