Are you figuring out how to build & grow your business while still having the opportunity to exit when the time is right?
In this episode, Neil Twa shares his insights about how the eCommerce space has evolved and how you can still be successful if you follow the right path. He breaks down how he addresses launching new products and why it’s a different approach than others. Neil digs into how to prevent yourself from sabotaging your business and make it grow organically. If you are looking to build a successful brand on Amazon, this episode is definitely for you!
Mr. Twa is the co-founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private-label e-commerce businesses for the last 9+ years. Today, he and his clients have sold over $100 million+ in physical products primarily through the Amazon FBA sales channel. Neil shares his blueprint for how to build an online business that can generate a passive “almost automated” six-figure income in just 12 to 18 months. And how to set up the business for potentially millions in sales within 18-24 months through a ‘pay as you profit’ skin in the game model of consulting + performance-driven business mentoring.
Key Highlights:
[00:01 – 06:27] What It Takes to Build an Amazon or E-commerce Business
• Neil shares his background and journey in the eCommerce space
- The co-founder and CEO of Voltage Digital Marketing
- Launching operating and growing private-level e-commerce businesses
• How to build an online business that can generate a passive almost automated income
- Setting up a business for potential millions in sales within 24 months
[06:28 – 21:08] How to Survive and Thrive in the Amazon Marketplace
• How the maturity of Amazon has shifted from being just about the algorithms
- It’s key to focus on brand development and competition research
• The shift towards product development has helped Amazon become a more competitive marketplace
- Sellers need to understand where the slipstream is to be successful on Amazon
• How to launch a product in 90 days or less
- What will determine which products are most in demand and have the highest sales velocity
[21:09 – 37:53] Making your Amazon product profitable
•The strategy for launching a new product varies depending on the niche
- It involves transparency, following the customer into buying gold vein, and using data to overcome competition
• You don’t want to sabotage yourself by continuing to sell a product that isn’t profitable or selling it at a high cost
- Moving a product that isn’t profitable into a position that acquires more customers
• Why you need to focus on increasing profitability first and then expanding your customer base
• There is more opportunity now than ever before on Amazon
[37:54 – 43:45] Wrapping Up!
• What Voltage Digital Marketing does and its mission
• Neil on the rapid-fire questions
Connect with Neil
Key Quotes:
“Brand building is the way you need to do Amazon.” – Neil Twa
“Do not start a product launch on Amazon if it’s not within a brand.” – Neil Twa
“You have to be willing to do the work, to spend the money, and obviously understand how you’re going to compete.” – Neil Twa
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