At the end of March 2014 Scooter and Kristi started their FBA journey when they joined Jessica Larrew’s ABC Bootcamp.
What is so amazing about Scooter and Kristi is in this short time they have taken a leap of faith and gone full time with their Amazon business.
Scooter recently quit his full time job, Thursday August 21st, 2014 and they source together as a team. All this and they have yet to experience their first 4th quarter.
Their dream before they even came across the idea to sell on Amazon via FBA was to find something they could do together and have fun with.
That’s the subject of today’s entire show: Scooter and Kristi Lofton, Husband and Wife FBA Team
Today, Charlene Anderson is helping me answer questions on the air and in the chat room.
Ramping Up With The BootCamp
Scooter use to be a tennis professional and used to teach tennis for a living
so his brain works in progression and that is exactly how Jessica teaches, she does not give you step 4 before she gives you step 3.
Not only did they watch the course video’s but then they did the homework for sourcing that was given to them.
They started scanning in the house just like Jessica teaches in her course and they where having fun with it.
Scooter had been working and Kristi was a SAHM. He would scan on his lunch hour or any free time he had to begin with since he was out working in the field, Kristi was scanning also and they would talk and text and compare items they sourced apart.
Look At This Picture
Kristi says they have figured out that they do better if they source together. She thinks it is more fun and they keep each other motivated this way. Also if one gets discouraged the other encourages them.
Their strategy for success has 2 parts, the first part is to scale down their life style for example they don’t want 2 car payments. Secondly, is ramping up their Amazon business to replace the income they had before. With these strategies they can get to their goal quicker.
Mainly Doing Retail Arbitrage
Since this is going to be their first 4th quarter you can imagine how anxious they are. Right now they are doing mainly retail arbitrage, but after 4th quarter they are looking forward to doing wholesale and hiring VAs to take advantage of other strategies.
They also know their limits at one point they had hired a VA, but when putting the VA strategy in place they realized it was taking on to much to quickly. This will be something they revisit after 4th quarter because they understand the value of having a VA.
With these two it is all about the hustle, they are not afraid to put the hard work in to their Amazon business.
Niches – Build Relationship With Store Managers
One reason Scooter and Kristi are enjoying success and mind you success during the slow season for most sellers “summer”, is of the relationships they have fostered with store Managers. These relationships are so powerful that store managers actually take pictures of UPC codes and will call them up. This translates into the store managers looking for products for Scooter and Kristi to send in to Amazon.
They think managers like them because they are forming long term relationships. They know that Scooter and Kristi will be shopping in their stores spending a lot of money. When you get to know someone and build a good relationship, they are more likely to want to work with you by giving you discounts and keeping their eyes open for things that could possibly be good deals for you.
Lots of Competition?
Scooter feels there is no competition based on the beast that Amazon is, he thinks we are just on tip of the ice burg!
Their daily goal is to source and send in 40 items every day and they know the average selling price that those 40 items need to sell for to reach their financial goals.
Great tip from Scooter: If you think I am just going to go out today and find 40 things you will not feel overwhelmed, because it’s daunting if you go out and think I have to go out and replace an income.
What It Feels Like To Actually Say I Am Leaving My Job
When do you get to that point?
You will never get a total fuzzy feeling in your stomach to quit a full time job that provides you with guaranteed income but at some point to get where you want to be you have to take that leap of faith.
For Scooter working was actually getting in the way of sourcing, sometimes they would get multiples of a product and they would notice that they made more then he made in one day at his JOB.
Their Goal is to work 40 weeks out of the year and travel the other 12, I am sure they will be sourcing while traveling. But the best part is feeling good about not going to a J.O.B. because they own their time.
New Wholesale Sourcing Guide Coming Soon!
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Wholesale Sourcing: A Step-by-Step Guide for eCommerce Businesses
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Okay… Have A Great Weekend and Happy Sourcing!
That’s my story… and I’m sticking to it…
Next week’s show…. No Show. I’m headed for CES 2 Dallas to Speak! Have you grabbed you tickets to the live stream?
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