On today's episode of the Fresh & Fit Podcast, we are joined by KT Hustles to talk about how to make money in the new year and how to get started in e-commerce in 2020 and beyond. We also talk about the best way to plan for a profitable year and what you should be focusing on in order to make the most out of it in 2020. We also discuss the benefits of Amazon FBA, TikTok, Shopify, and more. If you are looking to start making money in 2020, 2020 is the perfect time to start planning for the next decade, and it's a perfect excuse to start your business. It's a brand new year, which means it's time to get your financial goals in order for 2020 and plan for the money you want to make in the coming year. We hope you enjoy the episode and don't forget to subscribe on your favorite streaming platform so you don't miss out on any new episodes! Have a great rest of the week and we'll see you in the next episode on Friday! . Cheers! -KT Hustles Subscribe, Rate, Review, Share, and subscribe to our other shows! XOXO, KK Hustles. -Tune in to the latest episode of The Money Monday Podcast, Fresh and Fit Podcast! Subscribe to our new show, Money Monday! and Don't Tell a Friend about Money Monday on Anchor. Subscribe on iTunes, Rate/subscribe to our podcast, and leave us a review on Apple Podcasts, Podchaser, and Subscribe on Podchats, and much more! We'll be listening to your thoughts and shout out your thoughts on this week's episode on Money Monday, Money, Wealthy, and Social Media! ! Thank you, KKT Hustles! xoxo, KT Hustlez and KTC Hustles, - & KKeeves, XO, KKHustlez, , and KXHustles, and TKeezy, and KKed, and so much more!! KXO, and Thank you! , , KTCHUSTLEFTY, KXY, and GOSY, & KOTY, - Thank you for listening to Money Monday!! - KX&Fidex, and
00:03:06.000And then for me, the vlog channel, if you want to see the vlogs live, us in the gym as well, working out, making strides in business, go check it out.
00:03:47.000So for Amazon FBA and e-commerce in general, it's always a good time to get started, especially nowadays as people are buying more stuff online.
00:03:56.000Like every single person here listening knows someone who's buying on Amazon right now.
00:04:00.000They probably bought off Amazon today or yesterday.
00:05:22.000The difference between those is that in online arbitrage and wholesale, you don't do any marketing or run any ads because you're selling brands that have already built up their own reputation over a long time.
00:05:34.000So, you gotta see which one you wanna go into first.
00:06:05.000It was just, okay, I bought this product for lower and I was able to sell it on Amazon for higher.
00:06:09.000And there's a lot of listings like that where you can just go find it online or whether you can go online and find it for a discount.
00:06:17.000I remember last time I was on here, it was Memorial Day and there was like crazy Memorial Day sales going on where people, like my students, were getting 20-30% off and going on Amazon and selling stuff for like 70-80% return on investment.
00:06:29.000And that's how the business model takes advantage of it.
00:06:32.000What's the most one of your students ever made from the actual day?
00:06:36.000I mean, I can't give an exact day, but I have students that are doing now $300,000, $400,000 a month in Amazon sales.
00:07:09.000I've been going out a lot and having fun, enjoying, you know, but most of my time is dedicated to just working and trying to build up myself.
00:07:18.000Like, for dating-wise, I'm not looking for, like, you know, my girlfriend yet, wife, because I haven't found that.
00:07:26.000I just, like, fully focused on building my business and, you know, putting as little energy into stuff that's not that important.
00:07:33.000Smart man, but listen, bro, I see the cars, the watches, the lifestyle.
00:07:37.000How do you, like, focus on business over, like, partying and having fun?
00:07:44.000It's because I have a lot of passion towards building business.
00:07:49.000Honestly, like, you get the watches, you get the cars.
00:07:52.000It's cool to get all of that, but then you're going to realize once you get all of that, all right, it doesn't give you that much fulfillment.
00:10:42.000And then, sorry, then you were going into Amazon or dropshipping, or what was the next one?
00:10:46.000Yeah, dropshipping is when you're using a supplier who, like, you don't have a warehouse.
00:10:52.000You're using a supplier and they, whenever someone places an order, they're going to go put your label on it and then ship it out to the customer.
00:11:01.000And it's Shopify, it's all like building your own brand, but that's just like where you're not warehousing your inventory in your own warehouse.
00:16:24.000Yeah, I used to sell it back in 2022 and I would sell tens of thousands of dollars worth of it.
00:16:28.000Now a question, Keepa, you said it tracks supply and demand of products?
00:16:32.000Yeah, so when you're reading a Keepa graph, so when you're on Amazon and you're looking at a product, like you're doing product research, you're trying to figure out, should I buy this product or not?
00:16:41.000You're gonna see a graph on the bottom and it shows the price history of a product.
00:16:45.000So for me, I buy products that have consistent price history over the past three months, and I'm profitable at every single point.
00:16:53.000Okay, so three months is your magic number.
00:17:17.000So first I look at the price history and then next I look at the demand, which is the sales.
00:17:23.000There's what's called a sales rank on Amazon and you're just seeing how much the product is selling, how often, like how many times a month is this product selling.
00:17:32.000And once you learn that really well, like people learn it And they never really learn it like that.
00:17:37.000Like for me, there's a software called AZ Insight where it actually tells you how many sales of products sold a month.
00:17:44.000But for me, when I look at a keepograph, I don't need to look at, you know, I could put that number in my mind.
00:17:50.000Is it because you're more advanced now, you know what to do?
00:17:52.000I've been doing this day in, day out for over, it's been three years and one month now.
00:20:38.000Okay, another, I want to say, down that you have with business.
00:20:41.000Because I feel there's a lot more to Amazon that, like, you know, you can get into and lose money.
00:20:45.000But, like, what else, what's, like, another down that you had?
00:20:48.000Alright, another down, too, that is very common.
00:20:51.000So, alright, we're selling these brand name products that, like, we're not, we're not the only person selling it.
00:20:58.000For example, on a listing, like, I was always talking about Method Body Wash.
00:21:02.000There's 20 other people on that product, so what if everyone is just like, oh, I have bought too much, I need to get my money back, basically.
00:21:12.000Some people gotta pay off their credit cards, so they drop the price so they can sell out and pay off their credit cards.
00:21:17.000And now, everyone's selling at a loss, called price tanking.
00:21:21.000That's probably one of the most annoying things when you're selling on Amazon and doing my business model selling brand name products.
00:21:28.000And the thing is, when that happens, if you're doing online arbitrage or retail arbitrage, which is like the beginner model, how you can start doing 50k months, 100k months in revenue, you can return your stuff.
00:21:41.000But for me now, as I'm doing wholesale, I'm not going to go to my supplier.
00:21:44.000Like, for example, I have a product that's tanking right now.
00:21:47.000I'm not going to go to my supplier and be like, yo, can I return 30k worth of this?
00:22:26.000A month after than I expected, but I'll sell out.
00:22:28.000And I guess this is kind of the beauty of having a bit more experience and stuff like that is that you can afford to say, you know what, I'm going to shelf this product for a while.
00:22:35.000Let them go ahead and sell it because they need to make money now and pay back their debts.
00:22:42.000Now, you had mentioned before that you look at Keepa and you want to make sure that the product is profitable for at least three months before you sell it or whatever.
00:22:48.000But you also are very good with seasonal stuff.
00:22:50.000We had talked about this, I think, right around Thanksgiving or Halloween.
00:25:02.000Last thing I did was the Skeletons for Halloween because I've been selling that for years.
00:25:06.000But I know there's Christmas lights I sold two years ago.
00:25:10.000I didn't sell those this year, but Christmas lights were going crazy.
00:25:14.000And a lot of people, especially people who know about Amazon FBA in the chat right now, they know that some of their friends or some of them even were doing crazy numbers during that time.
00:25:48.000Then I would learn, and then I would make a few test buys.
00:25:51.000It's not going to hurt me that bad if I test buy $200 Versus making a wholesale purchase for $30,000.
00:25:57.000You want to go in and test buy, buying stuff from online websites and retail websites so that you can return it if all goes wrong, which many times people don't have any guidance or whatever.
00:26:06.000So stuff does go wrong, especially in my case.
00:26:08.000I was always returning stuff when I started off.
00:26:55.000So I would spend $100K, and back then I was buying stuff that would give me 50, 60% ROI. So off $100K, it's like $50K profit that I, there's no way I would have made that before.
00:27:05.000Just off free, you know, free money it gives me.
00:27:07.000Yeah, you know, they always say you need to spend money to make money, and sometimes spending other people's money to leverage and get yourself a profit, then pay them back with your profit in hand.
00:27:17.000It's like a W. And then on top of that, what are you doing?
00:27:19.000I hate to say artificially, but you're artificially increasing your credit score, too, because you've proven to the credit card companies under your credit report, hey, I could take a big amount of money and pay it off.
00:28:00.000Like, you should have, bare minimum, two to three credit cards, man.
00:28:04.000Like, you should have a MasterCard, an Amex, and then you should have a Visa.
00:28:07.000Bare minimum, but it amazes me how people, like, don't have credit cards.
00:28:10.000It's like, do you not have the self-control to, like, spend it only on things that matter and or use it and spend money that you already have?
00:29:09.000When you're running it up and you have faith and you're buying and selling Amex Platinum, just because they give you a high limit and then it's a charge card.
00:29:18.000So like Amex, let's say my first month on my Platinum, 100k in a month, they give me 100k I can spend because there's no technical limit on it.
00:30:26.000So regarding actually getting into Amazon as well, there's a learning curve.
00:30:30.000What's the average learning curve for somebody to learn from, I guess, step one of getting into e-commerce, Amazon itself, and then actually being at an advanced level where they can actually do stuff on their own, have their own type of, I want to say, control?
00:30:50.000If you're doing everything by yourself and just doing a lot of trial and error, I mean, it's gonna take a while, especially if you're not extremely smart and extremely consistent and working really, really hard.
00:31:04.000If you're not analyzing your mistakes and fixing them every single time, it's gonna take you a long time.
00:31:10.000And you're gonna spend a lot of money.
00:32:09.000And then just so you guys know, we're going to have an open Q&A for you guys after this, so you guys can actually ask KT your questions yourself on anything you might have when it comes to Amazon.
00:34:30.000Like for the first time in a while a few months like two months ago where I bought $36,000 worth of inventory and the brand was like I want to go sell this myself.
00:34:40.000That's just unlucky because this is a product that I've been selling for years like two years now and there's other there's ten people on it and I would make a few thousand dollars 5k 6k yeah and I was so happy I made a 36k order I was gonna make like $17,000 profit because the price was so up yeah and And then I send it into Amazon,
00:35:34.000For example, there's so many things that happen in real estate with, I want to say, rates, you know, having ROI, basically buying a property.
00:35:42.000My first property that I bought, I didn't know what I was doing per se.
00:35:46.000I just ran the numbers and it made sense to me.
00:35:47.000But if I didn't have a mentor to guide me on that process, I'm going to mess it up.
00:35:51.000So I can only imagine in e-commerce, so much shit going on, you can mess up pretty badly as well.
00:35:55.000So that's very interesting that you say that, and that's a very nuanced...
00:35:59.000In particular, if you see a certain amount of sellers selling a product, it might be exclusive to the point where if you go and try to sell it, the brand might just kick you off because they have a special relationship with these sellers.
00:36:08.000Maybe they have an agreement where, hey, we're only letting you and these other people to sell.
00:36:12.000If someone else does, we're going to kick them off.
00:36:14.000You don't have to disclose it if you don't want to.
00:36:16.000What are some brands to watch out for where they might kick you off?
00:36:29.000But a lot of big brands that are just really, really focused on Shopify and then they come onto Amazon, they obviously only want the single seller.
00:36:40.000Yeah, so a lot of brands doing that, but big, big ones, like I said, Dove or any of these huge brands, Neutrogena and stuff, they're so big, they're not really looking at Amazon, so they don't really care.
00:36:52.000Would it be more like the luxury brands maybe that would be exclusive like that?
00:36:55.000Like, we only let four people sell our stuff on Amazon, or it doesn't even matter like that?
00:38:03.000And then another thing is people make money on these, but you just need to be a little more careful is shoes and apparel because the return rates are high.
00:38:11.000A lot of people want to return the shoes and they return them in used condition.
00:40:22.000I remember I used to watch MTV Curves back in the day, and dudes used to lick the soles of their sneakers to show that they were dead stock.
00:40:55.000I'm going to go into more depth on YouTube as well as my network, but basically car rentals and whatever you want to procure for luxury or exotic.
00:41:01.000So whatever you need, guys, I can help you guys get approved for.
00:41:09.000The stallion goes, hey FNF, I'm currently in a physical therapy program through the Army where I get paid to go to school.
00:41:15.000They have an MD program with a similar setup.
00:41:18.000Should I bust my ass to get in that or should I focus on building a business with my skills and personal training from PT? Bro, it's up to you, but just remember that if you go ahead and get your MD through the military, a lot of times you're going to be required to be an Army or military doctor for a while.
00:41:34.000You're going to have to sign with them.
00:41:35.000So just keep that in mind where you'll get paid less.
00:41:37.000But hey man, get your education for free so it might be worth it.
00:41:41.000It's really up to you, bro, on what you prefer to do.
00:41:44.000Red Cup goes, homies, y'all need to tell these 304s to stop dropping me because they're making me look bad and they blame it on me.
00:45:40.000You can, I would say, typically after a cycle, that could be between three to four weeks.
00:45:44.000And you can either take a deload week where you go in and work, you know, 10% of your max, one wrap max, or you can just take three to five days off completely and then get back in the gym.
00:45:53.000It's up to you how you want to deload.
00:45:55.000What is your response to people that say Amazon FBA is too saturated?
00:46:00.000I mean, I guess you just don't know what you're doing or you're not being consistent enough because there's more than enough opportunity and listings out there.
00:46:08.000I couldn't go and buy, like, I could spend all the money I have right now on products and still could buy another million dollars if I had it worth of products.
00:46:17.000I mean, it's going to be the future, guys, because I was actually...
00:46:24.000In the next 10 to 20 years, I predict brick-and-mortar stores are going to be gone, guys.
00:46:28.000Like, malls and strip malls, like, all that shit's going to be gone.
00:46:31.000Like, the only stores that are really going to exist are stores where you have to go in person to get it, like Home Depot, Lowe's, like, big stuff like that they need for the house.
00:47:47.000So you could literally set yourself head and shoulders above the competition while they're fucking around trying to sell PS5s or whatever, right?
00:48:30.000Yeah, so I would do online arbitrage if I was you and I would be sourcing for products for the majority of my time and going deep on like test buying as many products as I can and as soon as I find a winner I'll go all like all in on that and just stack my products because how I look at it is let's say one product gives me $700 in profit a month the next product gives me $1000 profit in a month Alright,
00:48:52.000so what are you looking at when you're at 20 products, you know?
00:48:54.000So, I would just keep stacking up, doing product research, and keep buying.
00:48:58.000What makes you money in this business model is product research and making purchases, correct purchases.
00:49:04.000What would you say, KT, if someone wants to make $10,000 a month profit?
00:49:09.000How many items should they have in their store, you would say, that would get them to that 10K? Yeah, I mean, 10K is 20 products, maybe.
00:49:51.000It's funny because he'd be like, yo, I can get some sauce without all the sauce, right?
00:49:54.000Give them some inside sauce real quick.
00:49:56.000So just a little bit ago, like a few weeks ago, I got from my supplier a lot of these Dunkin' Donuts hot chocolate just because it's cold right now.
00:50:05.000That's one thing I could have said in seasonal.
00:53:08.000Ungated is some brands don't give you access to sell products yet just because, like, you're on Amazon, you're just starting an Amazon account, like, for example, selling Nike.
00:54:38.000And you would know, okay, I got to have a certain, I guess, well, you have to have a certain reputation or a certain amount of reviews or something like that to be able to sell it.
00:55:40.000The more credit cards you have, the more available credit you have, and then the more available credit you have, the better it is because what ends up happening is when you spend money on any of your credit cards, it becomes a lower usage rate.
00:55:50.000And the lower the usage rate, the less it affects your credit.
00:55:53.000So you wanna have the most available credit to yourself so that when you do make expenditures, It ends up becoming a very small portion of your credit.
00:55:59.000I tell you, I'll keep it under 10%, but anything under 30 typically won't hurt your credit that much.
00:56:05.000But you want to keep utilization below 10 if you can, optimally, but under 30%, you'll be okay.
00:56:14.000If you're starting on Amazon, I would open up an LLC and then get a Chase Business banking account, and then you can get business credit cards, which you can spend on those and it does not affect your credit.
00:57:36.000Like if you're really personable and cool with someone, that separates you a big time.
00:57:40.000So just like being cool and personable and concerned about what's going on in their life, you know, so that's like the first thing to separate yourself.
00:57:47.000And then sending a few gifts here and there, send some extra money, you know, and you're really cool with them.
01:00:16.000When it comes to Amazon, your business model, is it the best, and is it easier for people to get into that one than all the rest, you would think?
01:00:24.000I don't say it just because I'm biased and this is how I started, but I look at all these other businesses and Dropshipping, Shopify, trading, and all these other business models, this is one where you can come in and you don't have to be that skilled.
01:01:01.000Get it, sell it, make 30% ROI, and repeat until you got 10k in the bank, 30k in the bank, 50k in the bank, and then you go wholesale, and then you start deploying even more money.
01:01:37.000And then to doing wholesale, and then to doing exclusive wholesale, and then you can actually get rich on that, doing that, without doing your own thing.
01:04:01.000I mean, I would say, last thing is, I know I talked about the business a lot.
01:04:06.000It's important that you learn about that, but make sure that you're, you know, you're trying to give back to whoever's helping you out, and make sure you get your mindset very, very strong as well, because that'll take you through all the losses, the ups and downs.
01:04:20.000Like, You have such a big month, you go party or whatever, and you go spend too much, or you say some reckless stuff, and then you hit a big down because of your behavior.
01:04:30.000What's the most you've ever spent at the club?
01:04:32.000I've ever spent at the club, probably like $14,000.
01:05:06.000Keeping your money is more important than just making it.
01:05:09.000Because keeping your money is harder and what you do with that is a lot more important, bro.
01:05:13.000Because we have guys that are making a lot of money, 100k a month, spending 50 of it.
01:05:17.000And there's guys here who are making like, say 60, but they're keeping most of it and they're investing it.
01:05:22.000And their money is going to appreciate it and they end up being the richer guy.
01:05:25.000You know, they're balling less, they're making less.
01:05:28.000So what you keep and what you do with your money is more important.
01:05:31.000That's one thing I learned about money.
01:05:33.000Yep, you can literally be making a million dollars a year and there's someone else that could be making a quarter million dollars a year and he'll have a higher net worth than you because the game is net worth.
01:05:44.000And then, you know, keeping it is harder because you move to Miami, you see all these distractions, you see all these pretty women and all this stuff, all this high energy, guys balling out, you want to compete with them, so it's even harder.
01:06:03.000You know, just go to the gym and leave.
01:06:05.000Hell, even me going to the gym today outside, like, you know, normally I work out in the building gym, but like, yeah, even today going to the gym.
01:07:08.000Can it be successful or it's not worth it?
01:07:11.000So what I would do if I had two hardware stores is I would try to open up wholesale accounts with suppliers that sell only hardware stuff because even advantage versus me.
01:07:21.000For example, I don't have any experience in hardware.
01:07:24.000They're not going to really trust me as much as they could trust you.
01:07:26.000So you can get better deals from these hardware companies.
01:07:28.000There's a lot of big hardware companies running it up on Amazon.
01:07:31.000So I would leverage that in my opinion rather than putting everything online.
01:08:42.000You want to make sure that you like the business model, you have some traction, you're making some money, then invest in making your LLC. So it's more important to learn and start making money before you worry about LLCs.
01:08:52.000You want to start an online fitness business, whatever it may be, wait until you're making a bit of money before you go and create the LLC. Oh, I'll do the LLC first and then try it.
01:09:01.000Start making some money, see that you're going to stick with it, then go ahead and make the LLC. But at the same time, don't be one of these niggas that has the business open for two years and you don't got an LLC. Don't be one of these idiots either.