Day 14: Recap Day
Closing Thoughts
Well, here we are on day 14. If you have gotten to the end of this course, I want to take a second to congratulate you on completing the OA Challenge. Please find a way to reward yourself, you deserve it!
Also, I wanted to thank you for trusting us with not only your hard earned money, but also your time.
Time is the one thing that we can give but never get back; once it is gone it’s gone for good, and in today’s market 14 days can feel like a huge investment.
Now, Let’s answer any of your final questions before we put a big old bow on this thing!
Review Day Live Q+A
Could You Review This ASIN for me?
The first thing I notice is that it has a suppressed BB. let’s start out by asking ourselves Does it sell? Yeah!
As we can also see, it is also pretty profitable. Would I Sell this FBM? Sure! If I were to MF this, I would take extra care of the packaging.
Is it normal to wait 4+ days for a response from Amazon about an ungating request?
Yes, unfortunately. My guess is that they don’t have a lot of long term trained people who aren’t good at answering requests efficiently.
I will say that we are in a golden age of ungating on Amazon, so push as hard as you can right now to get ungated in as many categories and brands as you can before this window closes, but always do it as a good actor. All black hat practices will blow up in your face.
I am now ungated in a category that I never requested for? Am I at risk of losing that status?
Some categories and brands will automatically ungate you once you reach specific milestones. However, Amazon and Brands reserve the right to gate you, so always keep track of your gating status.
Can I set up a second Amazon business account with a different email account?
Yes.
Doesn’t Amazon limit the order quantity to 3? Don’t you need 10 units to become ungated?
Yes, but that is units of the same brand, not ASIN.
Should we be using our accounts for more than flipping?
You could, but we all know the deal. We and Amazon are both here to make money. Always remember: do not use prime benefits to buy inventory with the intent to flip.
What is your favorite bourbon? You deserve it!
I am only a social drinker, but if anyone deserves a toast, it is all of you guys!
Is it normal to wait 4+ days for a response from Amazon about an ungating request?
Yes, unfortunately. My guess is that they don’t have a lot of long term trained people who aren’t good at answering requests efficiently.
I will say that we are in a golden age of ungating on Amazon, so push as hard as you can right now to get ungated in as many categories and brands as you can before this window closes, but always do it as a good actor. All black hat practices will blow up in your face.
I am now ungated in a category that I never requested for? Am I at risk of losing that status?
Some categories and brands will automatically ungate you once you reach specific milestones. However, Amazon and Brands reserve the right to gate you, so always keep track of your gating status.
When you request a Cubiscan, is that for your entire ASIN?
Yes, and it will benefit all sellers, not just you?
What is the best way to guesstimate sales on Keepa?
The best way is to use the review formula that we discussed on Keepa Day 1. Not only is our business an arena of calculated guesses, arbitrage is too.
Do you recommend any accounting services?
- Bench
- Chris Potter at Tall Oak Advisors
- Ecom Balance
Keep in mind that none of these are cheap, but a good accountant is a necessity for scaling
What is the best brand to get ungated in grocery?
It is really hard to say just one. Kraft and Heinz come to mind. Spend some time in Keepa.
Is there an extension to protect against sketchy source sites?
ASINGadget is a great tool for that. Also TrustPilot and ScamAdviser.
Is it a good idea to attend the Miami seller event?
I don’t wanna tell you to spend money on an expensive convention, however I will tell you that Im gonna be speaking there, so if you wanna meet me I’ll be there. I used to avoid paid conventions, but the connections and education you get from them are pretty valuable nowadays.
Just like in the OA Challenge, the best way to get your money’s worth out of paid conventions is to engage with the community and come with a desire to meet and exchange ideas with new people.
What would be your criteria for stalking a storefront?
I find leads I am interested in and stalk the storefronts that are leading. I will use sellerAmp, but I never shy away from the Keepa Offers page.
What are your thoughts on ASD?
I am not really in Wholesale. ASD is only good for networking opportunities, in my opinion. I am not afraid to make myself look silly and ask the “dumb” questions. The growth is in the stupid questions.
Also, don’t overlook local trade shows. They are an incredible resource.
How can the same item have 2 ASINs?
Sometimes, there are unique packaging options that are registered under varying ASINs
If you get ungated in a brand, do you get ungated in the category?
No, it is the other way around. Category first, then brand.
Why is a different phone number needed for a separate seller account?
It is just easier for organizational purposes.
Are you allowed to have 2+ accounts in the same household?
Yes. Just don’t share the same computer. My advice is to keep a tight leash on who can access your seller account.
Any other A2A strategies other than using the deals page pr tracking with Keepa?
Yes! I am always interested in breaking down multipacks into singles.There may be listings where each component of that bundle is sold at a higher markup.
Is the review count for all of the variations?
Yes, but in the variations tab you will see the unique review counts.
Is it a good idea to convert my standard amazon account for flipping?
No, just make a new account. It is easier.
Can you buy in bulk from big retailers?
Not really. However, what I do is talk to the retailers personally and ask if they are willing to sell me the UPCs in bulk. Some will say no, others will say yes. Worst that they can say is “no”.
Why would a listing have only FBM sellers?
It could be dropshippers so be wary, however, always use your due diligence.
What is the order of tools to buy?
Keepa → RevSeller → A Repricer → InventoryLab → QuickBooks
How do I charge customers for shipping costs with FBM?
We don’t cover that in the OAC, but you’ll need to write a system and go by that.
So it’s ok to break up multipacks if the units are identical?
Yes. However, I don’t feel comfortable doing so 100% of the time. It depends on how big the margin is between the single and bundle unit price.
How can you tell if a seller is a drop-shipper?
They will have a bad seller rating and FBM almost everything.