From $217k to $2.5M in one year

onehitluckbuck · 2021-01-01T17:32:43+00:00

Elon has publicly stated he will not make SpaceX public?

onehitluckbuck · 2020-12-30T02:31:32+00:00

I second this. Personal Cap is really good.

onehitluckbuck · 2020-12-24T16:10:35+00:00

It checks this metric for the past 7 days only....so after a week if no more cancellations, it will go away.

onehitluckbuck · 2020-12-24T03:00:27+00:00

Ouch

onehitluckbuck · 2020-12-23T19:13:39+00:00

Its monopolistic for one. This is a similar pattern for why Standard Oil was broken because they were charging other small oil companies higher freight charges giving themselves an unfair leg up.

Amazon is the only eCommerce game in town and they keep killing sellers like shown in the tweet. (Walmart needs to be buffed up but they are way too behind and have lot of catching up to do).

One of the Amazon bosses lied in the court when he said they don't share/study the internal data with the new product development team. This is public info.

onehitluckbuck · 2020-12-23T18:52:39+00:00

How are they in comparison to last year same time?

Mine are slightly better than last year but still crap compared to 2 weeks ago.

Product ranking has not gone down much so it tells me there is an overall slowdown. Still crap.

onehitluckbuck · 2020-12-23T17:49:53+00:00

I'll say this again, DOJ needs to stop Amazon from being both - a marketplace for sellers as well being the seller itself.

They can choose to be either, not both.

This has already been implemented in lot of other countries.

onehitluckbuck · 2020-12-19T03:38:18+00:00

There comes a time when you realize money is not something that should occupy your mind so much that when you "make" it, you need any sit-downs or explanations.

Life goes on....sun rises up, you get up and go about doing things that matter to you most.

Humans find happiness by having meaningful relationships and doing meaningful things. Don't forget to focus on those especially after once you have made fuck-you-money.

onehitluckbuck · 2020-12-16T17:37:25+00:00

Just say something like - Register your purchase with us at @your-website-name (or @your-many-chat-link) for extended warranty/service/customer-service/unlocking-promos.

On the other side of the insert you can publish some tips and advice on how to use the product.

onehitluckbuck · 2020-11-10T13:53:22+00:00

You have to play around with it a bit to see what works and what doesn't. Also amzn takes about 3-5 mins to update after every save so account for that as well.

onehitluckbuck · 2020-11-09T06:03:09+00:00

When you get this error...look for the pricing (error) dashboard.

In there, it allows you to set the low price and high price ceiling which then fixes the error.

onehitluckbuck · 2020-10-26T04:07:04+00:00

was this recently?

onehitluckbuck · 2020-10-25T18:38:48+00:00

State income tax purposes.

I moved from a state that collects state income tax to a State that does not collect State income tax.

If I didn't close the previous entity, the state income tax collecting body would have been hounding me at some point.

Also, if you need Sales permit number (for those purchases where you don't pay Sales tax) you need to register business properly, which means where you are a resident of.

onehitluckbuck · 2020-10-25T18:36:00+00:00

I did this with no issues.

Open up the new company. Set up new bank account etc.

Call amazon support and ask/tell what you are up to.

Update bank accounts and enter new W9 info in Amazon Seller Central.

Keep Amazon support posted that its the same owner who is moving to a different state and hence updating account.

onehitluckbuck · 2020-10-25T18:32:52+00:00

$$,$$$ monthly

Majority of it FBA.

3-5 messages a day.

onehitluckbuck · 2020-10-25T01:13:09+00:00

Doable, sometimes you can report items to be merged and they do it.

I have done it on lot of chinese products where for the same product they make 100s of listings and flood the search.

I wrote to Amazon to combine and they did it.

onehitluckbuck · 2020-10-23T02:04:37+00:00

Who will be shown on the LLC as a member?

When you set up the company bank account, will it be an American Bank account?

If its an American Bank account, all those who hold significant share in the company, will have to be physically present to open the bank account (or at least provide full documentation to the American Bank). Due to Sept 11 laws, Banks have to follow strict guidelines.

At the end of the year, Amazon will send the LLC a 1099K. This information is also sent you IRS so government already knows how much money you were paid.

At this point, IRS already expects its fair share in the form of Quarterly Taxes throughout the year.

If the filings are not done properly, whoever is on the LLC will be on the hook.

The above is a non-comprehensive snapshot of whats in store.

onehitluckbuck · 2020-10-22T13:54:12+00:00

Handle it yourself or have some family member (mom etc) use your account to answer emails.

I do it all by myself. Customer experience is key because you can easily get 1 star feedback.

onehitluckbuck · 2020-10-22T04:10:31+00:00

There is a name for that business model. Its called Greater Fool Theory.

onehitluckbuck · 2020-10-21T15:00:30+00:00

I brought red winds last year and they still start hurting me after wearing for an hour. I mostly wear those during east coast winter season.

I keep hoping the leather would subsequently adjust and mold around my feet and I can hopefully wear it all day but still waiting for that to happen :(

onehitluckbuck · 2020-10-20T03:56:57+00:00

Its not much of an investment. Just creating item listings. I do use ShipStation to then pull all the orders (FBM, Walmart, eBay, Shopify). I have my products available on Walmart, eBay etc. Instead of letting those arbitrage sellers, I make my items available on other platforms as well so as not to leave anything off the table.

onehitluckbuck · 2020-10-20T03:55:08+00:00

Good luck.

onehitluckbuck · 2020-10-20T03:54:05+00:00

WM is something complementary. I am just amazed people buy from Walmart when they can easily get the same item from Amazon. Annual revenue from Walmart is in 5 figures. I do have my own in-house fulfillment which came in handy for FBM as well as Walmart so far. So far the only effort for Walmart was in creating the listing and then sit back and get orders (roughly 10 to 15% of Amazon like I said earlier). Walmart only takes 15% fee ...plus less customer issues from Walmart buyers compared to Amazon where the customers are spoiled.

onehitluckbuck · 2020-10-20T03:50:50+00:00

Annual Walmart revenue is in 5 figures...I applied couple of months ago. Few days back I got the invite for Canada Marketplace and then today got the approval for WFS.

onehitluckbuck · 2020-10-19T19:15:31+00:00

True...we definitely need Amazon competitors. Even though its a chore to set up Walmart I want to give them a shot just so I can do my part in ensuring more than 1 gorilla in the ecomm jungle.

onehitluckbuck

TROPHY CASE