Hey guys, Rules for Rebels back with Episode 58 of Side Hustle Thursdays. Today's story is about an accountant who takes a big risk dropping $15,000 on 1,000 units of inventory for his first try at rolling out an Amazon FBA product. Big risks often equal big rewards and while the business is still in the early stages and growing they are profitable. Profits range from as low as $1500 per month to their best month which they did $7500 in net revenue. Nate said his biggest challenges have been driving sales and getting reviews as well as dealing with unethical competitors who are leaving him bad reviews. He said he's not getting much help from Amazon in combatting this either, though it's clear that this is what's going on. One interesting thing about today's side hustle is while this started out as an Amazon FBA business and an online business the majority of the sales are actually comming from the real world and from businesses like hotels and nursing homes who are ordering their product hundreds of units at a time. Today's side hustler said he thinks the most important aspect to rolling out a successful product based business is product selection and picking the right product as well as knowing how to sell. What's kind of fun about today's story is today's Entrepreneur is actually someone I know IRL or in real life so I have some additional insights into this business that we don't normally have with these stories. Anyhow, stay tuned for the story.
Hey guys, Rules for Rebels back with Episode 58 of Side Hustle Thursdays. Today's story is about an accountant who takes a big risk dropping $15,000 on 1,000 units of inventory for his first try at rolling out an Amazon FBA product. Big risks often equal big rewards and while the business is still in the early stages and growing they are profitable. Profits range from as low as $1500 per month to their best month which they did $7500 in net revenue. Nate said his biggest challenges have been driving sales and getting reviews as well as dealing with unethical competitors who are leaving him bad reviews. He said he's not getting much help from Amazon in combatting this either, though it's clear that this is what's going on. One interesting thing about today's side hustle is while this started out as an Amazon FBA business and an online business the majority of the sales are actually comming from the real world and from businesses like hotels and nursing homes who are ordering their product hundreds of units at a time. Today's side hustler said he thinks the most important aspect to rolling out a successful product based business is product selection and picking the right product as well as knowing how to sell. What's kind of fun about today's story is today's Entrepreneur is actually someone I know IRL or in real life so I have some additional insights into this business that we don't normally have with these stories. Anyhow, stay tuned for the story.