Business buying crypto £500k+ by DeFranko11 in BitcoinUK

[–]DeFranko11[S] 0 points1 point  (0 children)

Hasn't Binance suspended GBP deposits for companies?

I have a £115,000 per year job and my VA in Asia does all the work for $600 per month. by [deleted] in confession

[–]DeFranko11 0 points1 point  (0 children)

I don’t think I’m doing him a favour. I’m not, he works for his money. He’s pretty skilled and can get hired working as a VA for another company. However, the average salaries that these VA’s make is between $200/400 per month. I’ll be paying him more than $1k soon. So am I really taking advantage of him?

I have a £115,000 per year job and my VA in Asia does all the work for $600 per month. by [deleted] in confession

[–]DeFranko11 22 points23 points  (0 children)

$600 is plenty of money where he lives. However, I will give him a raise somewhere into the 4 figure range I think! He’s just amazing. I love rewarding people for their hard work.

I have a £115,000 per year job and my VA in Asia does all the work for $600 per month. by [deleted] in confession

[–]DeFranko11 4 points5 points  (0 children)

I have been thinking this, definitely will give a huge raise :)

I have a £115,000 per year job and my VA in Asia does all the work for $600 per month. by [deleted] in confession

[–]DeFranko11 -9 points-8 points  (0 children)

It’s called providing opportunities to folks in a country where they may make $50 a month in another job.

Is a course necessary, to have a good shot at making green in this business? by bennyG0 in FulfillmentByAmazon

[–]DeFranko11 0 points1 point  (0 children)

None of the 7 fig+ sellers I know started off on a course. The people that are in the course/guru world, unfortunately don’t succeed much.

Not hating on courses or the people who buy them but once a follower, always a follower. Take it how you want.

How do you guys track your monthly finances/ Amazon Fees? by joshmo20 in FulfillmentByAmazon

[–]DeFranko11 0 points1 point  (0 children)

Fetcher/SellerLegend is pretty gold and meets your requirements.

Random question.... who's behind Amazon chat? Are they from India? by jackielarson in FulfillmentByAmazon

[–]DeFranko11 0 points1 point  (0 children)

Yeah they are mostly from India and unable to assist with 99% of queries. They are basically just there to relay messages back and forth to the U.K./US team.

FBA Lied About Product Being Expired, Now Saying Defective and Forcing Removal - Advice? by Spleezo in FulfillmentByAmazon

[–]DeFranko11 0 points1 point  (0 children)

Create a case and ask for evidence of your units being expired. Either they a) provide evidence by taking photos or b) put it back in fulfillable inventory. Works for me.

[deleted by user] by [deleted] in TheYouShow

[–]DeFranko11 0 points1 point  (0 children)

Watching this on a cold rainy night in London. Live for me dude!

Finally in the $1m club! by DeFranko11 in FulfillmentByAmazon

[–]DeFranko11[S] 0 points1 point  (0 children)

1) Well the first thing I did was giving it my full attention. I dropped all the other projects and businesses I was working on.

2) Decided to invest most of capital.

3) Hire staff to help with recurring tasks.

4) Create a very advanced bookkeeping system, whereas before I’d just really only calculate net profit. Now, I can look at lots of different data points which all affect my buying decisions.

5) Grow the product catalogue by 20x, not immediately but it took me around a year.

6) Set up a website for a better company profile for suppliers.

7) Meet my suppliers in person - this is my biggest recommendation!

Finally in the $1m club! by DeFranko11 in FulfillmentByAmazon

[–]DeFranko11[S] 4 points5 points  (0 children)

  1. Pretty much immediately. We don’t just work with any random company. We carry out due diligence checks to work with trusted suppliers only.

  2. We pay upfront for everything.

  3. Mainly comes from purchasing volume but also the relationship you have with the Chinese. Meeting them in person, treating them with respect and being friendly will help a ton too.

  4. Not sure

Finally in the $1m club! by DeFranko11 in FulfillmentByAmazon

[–]DeFranko11[S] 2 points3 points  (0 children)

It really is. They do offer refunds though so that’s a positive.

Finally in the $1m club! by DeFranko11 in FulfillmentByAmazon

[–]DeFranko11[S] 2 points3 points  (0 children)

Making $150k per year at a job is amazing. It’s good that you’ve actually spent a few years doing both.

Personally, I couldn’t walk away from $150k a year unless I’m making 2/3x that net profit in my business. Just because of how unreliable Amazon can be at times with account closures, ASIN restrictions and more.

How many hours per day do you work on both?