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Why Passive Income in Amazon is a Myth
- There are some people who treated Amazon like passive income and got burned in the end
- No, Amazon as passive income is a myth.
- People who overspend and get lazy with the game lose their business
- Some people never recovered at all.
- Other people stepped up their game to increase their market share.
- Passive income in Amazon doesn’t really exist.
- When I went on vacation for three weeks, my income went down by %7.
Diversify
- Don’t put your eggs in one basket
- Diversify and use your energy in different areas
- Not all people are similarly motivated
- Split money up into investments: 20% goes back to restored songs.; 10% to new investments on a monthly basis.
- Make your cash work and make an informed decision.
- Danny and Michael both get up at 5AM to start their day.
- Over-diversifying is not bad.
The Reality of Amazon Income
- Continue working and take breaks at the beach but it doesn’t mean you can STOP working
- What you need to do is put out more products because the cycle is waning down
- When you’ve made profits — it doesn’t mean you can now sell your business
- The cycle goes on a steady decline if you do not put out products
- Sellers get more and more people to work for them a better this or better that BUT what they need is to get back in the game
- Stop doing 4 hours a week so you can go and do other stuff
- Start running your business again — that is the only way to turn it around.
- IMPORTANT: Don’t wait way too long before you do this. By then it will be too ate or too hard to recover
Michael’s Tips
- Cash flow is key in business and if you are low on capital then you don’t have a business
- It is important to keep reinvesting the capital and not spend it
- Put a lot of money into savings.
- You learn this if you’ve experienced downturns in life.
- The economy will not always be booming and everything will not always be going up so SAVE.
- Hoard cash to prepare for hiccups.
- It is not viable to stay out of the game because Amazon is highly competitive
Conclusion
- Amazon passive income exists but it doesn’t last
- Labor time is required and maintenance is required BUT maintenance is lower than that of a normal business
- But beware the competition
- You can get an 800% return on Amazon that is true but this depends on how you are managing things.
- When anyone is promoting something or trying to sell you passive income and show you pictures on the beach DON”T BUY THAT.
- Listen to people who are doing serious numbers and their background
- People who are selling courses but won;t show you their brand are fakes.
- 90% of Amazons fail on their first year.
Join us in these key events!
September 12-14 – Sellerfest Lithuania | Check event HERE
October 1 – Birmingham Linn Academy | Check event HERE
October3 & 4 – Amsterdam PPC Congress | Check event HERE
October 17 – AmaFest Manchester | Check event HERE
October 22- 23rd – Cross Border Summit and China Magic the same week!
October 27 and 29 – Global Sources | Check event HERE
October 14-20 – India Sourcing Trip | Check event HERE
