in this video, we will cover setting expectations as for the first expectation, just know this is not a get rich quick guide. I've been scammed by these people in the past when the internet wasn't as trustworthy, all these people boasted with their fancy cars and leverage the creative through money. Amazon FDA is not easy. It is a lot of hard work though, it may be easier to break into than other opportunities out there. The reason is, is because amazon breaks down the e commerce barriers for you. Whereas it wouldn't be possible unless you were making millions in revenue. I just want to be completely transparent with you that you will have to work hard, this will be your second job and at times you will want to quit but those that persevere will become successful next I'd like to talk about money. Some of the earliest adopters to amazon FDA knew that the human brain release endorphins when money was brought up and they just said they were making millions, that might have been possible ...
for some, but I'm sure they exaggerate significantly, they're probably just talking about revenue and not about profit. Would that be said, don't expect a lot of money to be generated in the beginning of amazon FB A you should be expected to lose money in the beginning, just like a startup, you put a lot of money down and you will be in the hole for a while. Typically I am in the red for a few months with my amazon listings before I turn a profit. This is actually incredibly necessary because in the beginning you will need sales and reviews. You also will have to compete on price in the beginning and you will slowly start to gain traction and soon it will take off. Also, some sellers boast how much money they are making off of just one item. In reality, many items have a natural selling point where they taper off all of my items on amazon have a typical peak where they end. This is because I'm not niche categories and the categories are relatively state, but not that much traffic. The great thing about this is I am on page one of every single one of my listings and I have consistent sales. Just don't expect one item to be your golden ticket to freedom. As for the competition, there are many sellers out there that will undercut you on price. This will happen to you at some point and has happened to me on every single one of my listings. There's a lot of competition on amazon and you'll be competing with everyone else out there. I don't want you to offer anything low quality or try to fill the gap somewhere where there isn't one, this is not fulfilling. I want you to make this into a full full fledged business. You should be fulfilled with your business and shouldn't feel like you're scamming anyone provide true value and make people excited about their products. They're buying the next is learning as a rookie, you will be willing to learn from every single situation and make adjustments to your assumptions, be flexible and learn from every single thing you do. Do you not breweries through this course? Learning passively like you did in school, take time to pause and think critically. Like we mentioned earlier, there's an action based course which means you will be learning through experience as we go through these tests together, think through every single situation and reflect. I recommend that you have a notebook out to take notes as you go through this course so you can reread your notes at a later period. This is not the type of thing where you learn and regurgitate information. You will need to use critical thinking and read between the lines. If everyone else is doing one thing look deeper, you will uncover insights that no one else has ever thought of. Finally work hard and have fun amazon FB A and product sourcing is so much fun. It's honestly like christmas as a child when there was a huge package from china that arrives on my doorstep. I get so excited and immediately go and open it. The best way and the only way you will succeed is when you have fun. This is the best way to keep yourself motivated, educated and moving forward. Challenge yourself, think outside the box, make it a game, do anything you can do to make this, your hobby, your passion. I wish you the best of luck and I hope you enjoyed this course. In this video, we covered setting expectations on the next video. We will cover the key concepts.