Hi my name is Keith Ritchie and I’ve been a full time Ecommerce entrepreneur since 2014. I enjoy helping people succeed in this business that has given me so much freedom. I formerly worked in the manufacturing field most of my adult life. Doing that kind of work year after year really took a toll on me, maybe you can relate?
I started off in the Ecommerce world with selling on eBay. It went well for a while but I didn’t have a system in place like I do now. After the sales on eBay slowed down I just quit and looked for a job.
Fast forward about 6 months and I was really tired of the usual 9-5 grind and started seeing different people on social media doing over $100,000 per month on Amazon and eBay…I decided that if they could do it I could too. I got serious this time, I knew that if I could just make enough money from eBay to pay my bills that I could quit my day job. I started learning as much as I could about wholesale, and what it took to get accounts. Once I had all of the required documents together I started applying, before long I had my first account and the margins were great!
Through studying and doing I was able to rank my products high on eBay search, which means more eyeballs on my products and ultimately more sales. Every day after work I would basically attack my listings with improvements that would get me more visitors and sales. Slowly but surely the sales started coming in. After a while I was making enough to quit my job for good…and I did just that. I will never forget my boss’s face after I told him I quit, lol.
I want to make a point to tell you that I didn’t only work on gaining eBay knowledge, every day at work I was listening to personal development audios, or audio-books like “The 4 Hour Work Week” or “Unleash the Giant Within” and many others. I knew that to change the results I was getting I was going to have to change my thought pattern and get rid of any limiting beliefs. This played a tremendous role in my self improvement as well as my income. I highly recommend that you too start down the personal development path if you haven’t already.
Ok so back to my story. I started getting better and better at landing wholesale accounts. I was selling more expensive items for more profit which led to my very first $1000 profit day. Now I was really hooked, that was almost 2 weeks of salary at my last job!
This is one of our sales days on eBay and most of this is wholesale: Our best sales day on eBay is well over $7000 at the time of this writing, I would share it but I don’t have it handy.
Now things were going good on eBay, but I kept seeing people on social media sharing these big fat 6 figure monthly screenshots from selling on Amazon. I knew I had to find out how to get going on Amazon…
I knew from having friends in the Ecommerce space that Amazon was a different animal. There were more buyers there, and along with that came more competition for sales. I bought some courses to learn to sell effectively on Amazon, and also had some friends that were selling on there as well. By the way, it’s nice to have a network of people in your niche. You’ll find that your Network = Your Net Worth. Having people to compare notes with goes a really long way.
I learned to outsource different aspects of my business, finding & listing products to Amazon for example. I hired my first Virtual Assistant and trained her using private Youtube videos. She took right off and is still with me today. Since then I’ve hired other virtual assistants for various tasks. Outsourcing really freed me up to work on my business as a whole. That way I could focus on getting more accounts, or selling on other channels or whatever I had to do to grow the business. Having a great team of well trained employees really helped me grow.
With things in place our sales started steadily growing. We hit our first $20,000 dollar sales month, then $30,000, and it just kept growing. I was starting to see what all of the fuss was about, lol. I wanted to get to 6 figures per month as fast as possible, but knew I couldn’t push it too hard without a solid foundation in place. I knew I needed to add more arsenal to our selling game…
So I learned about Fulfillment by Amazon, or FBA. FBA is where you find the items (in store or online) & box all of the items up and send them into an Amazon fulfillment center. Once they receive your items they go live on Amazon.com shortly thereafter and are for sale. There are a couple of terms that people use, like Retail Arbitrage and Online Arbitrage. Those 2 are the most popular methods for beginners getting started with FBA. Getting good at finding products to sell via FBA was both fun and tiring…but profitable.
I believe in having a mixture of ways to generate income for my business. An important thing to note is, before I tried various things, I studied them. I watched YouTube videos, asked around on Facebook, joined different groups, took courses, went to conferences, etc. Whatever it took I did and I did it so my business would grow, and you should too if you plan on being successful in Ecommerce. Always. Be. Learning.
Also I am a strong advocate for selling on multiple marketplaces. Get really good at one, then venture out into another one. Build your foundation first, then branch out.
The Big Day…
As of this writing this is my best sales day on Amazon: It was either on Black Friday or Cyber Monday of 2016. Serious growth huh?
It probably would have been $25-$30000 if I hadn’t put our store on vacation about mid-day. I put it on vacation because the orders were coming in so fast we couldn’t keep up with processing them. I have since strengthened up our order processing team and we are ready now.
I’ve soaked up a lot of knowledge & applied many different techniques to make days like the one above happen. Through trial & error, studying and doing. Courses, books, mastermind groups…whatever it took to find out how to get the results I wanted.
You just don’t know until you do it, but when you finally decide to give something a shot, go all in after you’ve learned everything you can about it. That’s my advice to you, learn and study, and if it feels right & seems profitable, just do it.
Well I don’t want to write a book (just yet) so I’m going to sign off.
Thank you for taking the time to find out more about me and I hope you’ve at least subscribed to my mailing list so we can get to know each other better and hopefully I can help get you more sales in your Ecommerce business. Take care.