- Greetings everyone and welcome to another video.
Today I'm switching things up a bit.
I'm actually posting a video I filmed about three
to four months ago
and oftentimes on my YouTube channel
there's stuff I filmed
that just doesn't get posted for one reason or the other.
So I think it's gonna be cool to post this
because, what I'm doing in this video
is what my business partner and I were doing
that led up to what we're doing now,
which is, us coming up on a 60K-month,
50K in the last two weeks,
and we're probably going to break the 100K mark per month
here early next year.
Now, I'm not saying that this is a lot by any means,
but at the same time for two guys
that had zero wholesale suppliers
to what we have now,
I'm extremely pumped about.
So I think it's going to be awesome
to look back on this and reflect.
So go ahead guys.
Let me know what you think in the description below
and I hope you enjoy this video.
Kris McCauley from krismccauley.com.
And welcome everyone to today's video.
Now today I'm gonna be addressing
what I do on my schedule
and my day to day life of my Amazon business.
As well as talk
about three different types of wholesale suppliers
you'll encounter.
The pros and cons of each.
And you can figure out
which one is the best one for your Amazon business.
(upbeat music)
Now, for those of you who don't know me,
I talk a lot about online arbitrage on my YouTube channel.
However, I really don't do much online arbitrage
at this point.
Any online arbitrage I'm doing
are very specific scans in the software I use
called Tactical Arbitrage on specific brands
that I either sell wholesale
or that I plan on getting into wholesale
and my BA goes over based on criteria I give him
and then he saves it to the save list
and then I go over it that way.
So it's very minimal at this point
and the majority of my time
is focused on building up the wholesale
or online retail or retail,
whatever you wanna call it side of my business,
where basically I'm reaching out to suppliers
and I am buying in bulk from them.
Now, I've been doing this for about 12 weeks.
Pretty much 100% of my time is going into that
and even my sales I would say
did take a hit in the beginning
because I was not sourcing as much as I should be
for online arbitrage.
But I knew I would make that money up
on the back end of things,
which I already am and it's totally worth it.
Now, I still think online arbitrage is the best way
and lowest risk way to start selling.
But for me this was the route I wanted to go
and so yeah.
Before I get into talking about the types of suppliers,
I wanna address my daily schedule,
what I've already done for the day
and how my days usually shape up.
And then I'm going to address my weekly goals as well
because I do think that that is really important to address.
Acknowledging the bigger picture side of things.
So it's about 9:30 AM right now
and I'm not just getting started.
Although I like to work out in the AM.
I just signed up for my first strongman competition
in about two years,
I used to compete regularly
and I took a break and I signed up for that.
That's gonna be at the end of January,
so I train in the mornings about 80% of the time.
I read about 10 to 15 minutes.
I got all of my eBay packages shipped up,
which I usually do that evening before
or I pay someone to do it.
But this morning I had to do it myself
and I've already made all of my followup calls
based on last week.
And now what I do is I have 117 calls to make today,
which I'm probably not gonna get you on.
My goal is at least 40
and these 117 leads were found using this specific way
that I really don't feel comfortable sharing,
as of right now.
They may not all be good,
but I plan on knocking those out today
and probably by Wednesday I'll have all of those done.
And then after that,
I usually like to call till about 2:30 PM
because that's when a lot of people are leaving the office
or at their East Coast Suppliers.
They're already shut down.
So I probably will stop calling around 2:30 PM.
I have my 20 eBay listings to list today.
I usually get about 20 to 25 eBay listings
on my eBay store per week
and I usually have about 100 listed out all at one time.
And these are very low maintenance items,
like they're usually about $1000 profit
amongst the 15 to 25 that I waste per week.
And I usually end up getting these for free,
based on ways I've mentioned in the past.
But yeah, I usually get all of this for free
and that's what I live on.
So I don't have to touch my Amazon money
and I can just keep compounding that.
I'm gonna list all of that.
And then I have someone that I pay
to take pictures for my eBay items.
And then I have two to three wholesale lists
to list throughout the day.
And then I'm gonna break this up as well.
I don't knock this all out at one time, I take breaks.
Now my goals for the week
and I break my goals up into YouTube goals,
which I took a break from
and I'll explain why later on at the end of the video.
eBay goals,
Amazon goals are my main thing
and then just side goals like it might be project
or whatever.
And then really what I'm gonna be focusing on here,
I'm going to be sharing with you guys, are my Amazon goals.
So my Amazon goals,
my goal is to land one particular brand
that I've really been working with hard.
I really want to land it this week.
My goal is to also land one other big client
and I'll explain what a big client is later on in the video.
It's gonna be the third supplier I talk about.
I'm going to buy from one close out supplier
and then my goal is
to also spend about four to 5K this week
on two to three other smaller suppliers.
I just wanna establish a relationship
and get things going with some smaller suppliers.
And I also wanna get ungated in two brands.
And lastly, I wanna go
to two different outlets of very particular gated brands
that I just got ungated in.
And I point on going to these two hours
and just checking it out.
They're about 30 minutes away.
It won't take much time,
and I think I could definitely garner some good profit.
Now that being said, that's pretty much it.
I'm gonna go ahead and get into these calls.
Like I said, I have a lot of calls.
It's gonna be pretty much nonstop.
And then I'll go ahead,
update you guys with anything as I go.
As well as give you guys,
break down the three types of suppliers.
(upbeat music)
These are the books I'm reading right now.
I usually bounce between two books
or read one before I go to bed.
And this is more of like a philosophical book.
But I like a lot of Allan Watts' stuff.
And then Timothy Ferris.
Tim Ferris' "Tribe of Mentors."
I usually can pick up something a little different
every single time I read this book.
As well as "Tools of Titans."
So this right here is,
these are the two books I'm reading
and if you haven't read them,
I highly recommend picking them up.
Before I forget the winner for the 30-minute call giveaway
from the comment winner last video, is right here.
Contact me on Facebook
or in the comments section of YouTube
and reach out to me.
And I will definitely set you up
and to enter into the next 30-minute call giveaway
for the next video.
All you have to do is comment in the description below.
Where are you are from.
(upbeat music)
Okay, so it is now
a little after 5:30.
I have made all the calls I needed to.
I did a lot of other stuff
and now I just want to go ahead
and talk about these three types of suppliers
that I've encountered
and that I'm sure you're going to encounter too.
Now I'm gonna go ahead
and list the pros and cons of each
and then what I think each one is good for.
So each one will have its purpose.
The first type of supplier you're going to encounter
is a closeout supplier.
And these are known as liquidators
or these could be people
that are selling mystery bull clots online.
Like I know everyone knows about those
random pallets of mystery stuff
or store closeouts.
Particular stores that go out of business,
discontinued items.
I'm just gonna go ahead
and classify all of that under one umbrella.
And the pros about this,
is that pretty much anyone has access to these.
So you don't have to have a website.
You don't have to be an actual business.
Anyone can get contact with these.
And usually they have a higher ROI.
Now that's pretty much it about the upside.
It's maybe good for a beginner
or someone who runs an eBay business
or maybe someone who runs some kind of store
with just random assortment of goods.
The cons for me outweigh the pros.
A lot of the times the items,
know, they could be returns.
There's a risk of them not working.
There's also just a risk
when you're buying mystery bull clots.
I don't like to take risks.
One of other really successful people talk
about how when they made their first billion dollars,
it was made off of very low calculated risks.
And I like to think of it
as like the tortoise and the hare, right?
Like you may get lucky once and score big,
but then who knows?
Maybe that next time you'll take two steps backwards, right?
So I would rather just take small steps.
If it means a 40% ROI,
if it means that 30% ROI
or very calculated gains,
that's what I'm all about.
And that's one of the reasons
why I don't like closeout suppliers.
Now, the other reason why I don't like these guys
are because you never are probably gonna get the same thing
more than once.
You might be able to get it twice
if they have access to it again.
But if it's a discontinued item
or customer returns,
a lot of it's gonna be different every time.
And for me to actually build a real retail business,
I want more replenishables.
And I want to be able to know, like going into that month,
if I have 20K I need to spend,
I will already wanna know what it's going forward.
I don't wanna just be like,
well I hope this random closeout supplier
sends me a good deal.
Like that's not what I want. I'm not trying to do that.
But that being said,
I do think that these are good for people starting up.
Now the next kind of supplier I'm gonna talk about is,
I really don't know what to call them.
Just like maybe a small distributor
or a small type of supplier.
And what characteristics these guys have is,
they usually deal with several name brands.
So sometimes it's their own, sometimes it isn't.
And they have very small order quantity placements.
So you can place orders with these guys
for like 250 to $300.
They accept everyone.
And a lot of their inventory
is usually reorderable on a regular basis.
That's good.
And I still place orders with these types of suppliers.
But the cons with these types of guys,
I wanna mention,
is that there's a low barrier to entry.
So you really don't have to be a business.
For a lot of these guys,
you don't need a website,
you don't need a business phone number,
you don't need a business address,
you don't really need anything.
Like for most of the time you can submit an application
and get accepted.
And a lot of the times too,
a lot of people are sourcing from these.
So when they just accept everyone,
a lot of these products become saturated.
And I know a lot of people don't realize this,
but Amazon is very small marketplace,
especially when you got to think,
like okay, there's however many products in the category,
but we're only sourcing the top 5%.
So the marketplace becomes a lot smaller than you think.
And so, what happens
is when these really low barrier to entry suppliers
start accepting more and more people,
the items become saturated and prices go down.
Supply and demand.
Basic economics.
Supply goes up,
price point goes down
and then everyone loses.
Now it'd be great if everyone would just stay
at the same price
or more people wouldn't enter.
They would just know.
But that's just not how it works.
It just doesn't work like that.
So like I said,
I still order from these guys.
Like I'm probably gonna place
two, one to 2K orders this week from suppliers like that.
So I don't wanna make it seem like
I'm not using these guys, cause I am.
Now the last type of supplier.
This is my favorite
and it's the third type of supplier
I'm gonna talk about.
It is the big companies.
So I really, like I said,
I'm just gonna call it big company supplier.
And you've got just think of it right,
Like okay,
like Lego, right?
Like let's say you wanna sell Lego on Amazon,
you're not going through a closeout supply,
you're going directly to Lego.
Now there are pros and cons
about this type of business model.
Now the con is that,
and I guess for me this is a pro,
but for someone just starting,
it could be a con.
Is that not everyone just starting
can be able to reach out to these guys.
A lot of the times order dollar amounts are very high.
Usually typically 10K orders placed minimum.
Sometimes it's,
I spoke with one supplier, it was 30K minimum.
I spoke with another supplier,
It was 15,000 pounds minimum.
So, these are very, very big orders
and usually you have to have some kind of warehouse
or just kind of some location
that's not written on residential,
that you can deliver to.
Now the pro about the suppliers is the con, right?
It's the con I just mentioned.
It's the barrier to entry.
Because there's more sales involved.
So when people ask me about how to land one of these,
because I would have to go through my notes,
I've landed a couple.
And the thing is you can build seven figure businesses
around these types of suppliers.
Because each month, they have so much inventory
that you know, if you have 30K,
it's going to one of these two products,
or whatever.
And that's what I like about it.
And I also like about it too,
I spoke to one and they did actually denied me,
but I had a great 30-minute conversation with the guy.
They actually denied Amazon sellers.
Because it would hurt their already current business.
And that to me says a lot.
Because I wanna work with people like that.
That once I get in with them,
I want them to be able to,
if they see other Amazon sellers
or online sellers,
whether it's walmart.com or jet.com,
they are limiting these people
from wanting to work with them.
And that's good for the people that get in now.
Like go out
and reach out to as many suppliers as you can.
Because all it really takes,
is one or two
and your complete business has changed.
And that's what I knew,
like I said earlier,
my sales took a hit,
because I was so aggressive
at reaching out to these people,
but now they're really starting
to pick back up,
because of that.
Just that fact.
So I'm gonna go ahead and close out here.
I know I said I was going
to document more of my day,
but I have to get out these Amazon shipments
and I mean I don't really think you guys
wanna see that.
And I also have to do it.
Where's my eBay stuff?
And just some other kind of monotonous stuff.
So I'm gonna go ahead and close out here.
I really hope you guys enjoyed this
and I will see you next time.
(upbeat music)