Are you still trading time for money?
If you answered yes to that question then it may be time to start thinking about creating passive income so you can get out of the rat race and start living an epic life.
We all know businesses are a great way to generate passive income, yet there is one business that is, in my opinion, severely overlooked and highly underutilized.
That business? Selling products on Amazon.
Stephen started out working in the Mental Health Commission in Ireland. It was a low-paying job and he wanted more from life. He spent most of his days Googling “how to make money online,” and encountered just about every scam out there.
One day he took his very minimal savings and quit after discovering the effectiveness of selling products online globally through Amazon.
Stephen and his business partner since co-founded Marketplace SuperHeroes, an online education, and services company that helps people all over the world learn how to sell their own products globally on Amazon from scratch.
Marketplace SuperHeroes is now an 8 figure business and has also helped over 7,000 people to create multiple income streams online. They are five-time Two-comma Club award winners from Clickfunnels and Clickbank Platinum Partners.
In this episode of the Rock Your Money, Rock Your Life, Stephen and I discuss how he went from googling “how to make money online” to having an 8-figure business, the issues that most amazon retailers face and how he avoids them, and why it’s better to sell an accessory item than it is to sell the main product.
What You’ll Learn from this Episode:
- The Rule of 5
- The basics of selling on Amazon
- How Stephen and his team can set you up for online success
- And much more!
““60-70% of all sales on the amazon platform are made by third party merchants like us.”
Topics Covered:
00:00 – Intro to Stephen
01:27 – In the beginning
06:13 – Investing in people
09:15 – Creating an 8 figure business
12:00 – Become the middleman
14:48 – Breaking it down
18:30 – Profitability
20:16 – Does Amazon copy products?
22:45 – What is your product choice?
27:05 – Community support
28:05 – Performing students
30:31 – The entrepreneurial mindset
34:30 – Connect with Stephen
Key Takeaways
“Most courses are setting students up for failure. I’m not attacking any 1 particular course, it’s just they don’t have the logistics part in place.” – Stephen Somers
“Research is everything.” – Stephen Somers
“If you have brought in a competitive item, your cost per click, your cost per acquisition, your advertising costs of sales is going to be very very expensive, so we’re looking for this marriage of not overly competitive products, some simple marketing on Amazon and get it into multiple countries.” – Stephen Somers
Connect with Stephen Somers:
Connect with Rock Thomas:
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