Show notes
In this episode, we had the privilege of sitting down with the incredible Kata Phipps, a savvy entrepreneur who transformed her boredom into a massively successful Amazon-selling career. Rising from humble beginnings, Kata's drive led her from listening to podcasts and diving into free resources to learn how to sell on Amazon, to a spectacular multi seven-figure exit in 2021. She generously shares her unique journey, detailing her enterprising involvement in a network that sparked friendships with successful entrepreneurs and led to a treasure trove of invaluable lessons. We dove into the fascinating world of selling on Amazon and examined the pivotal role psychology plays in driving business success. With a rich background in psychology, Kata and Kevin explored how comprehending customer sentiment and aligning team efforts with business goals can provide a competitive edge. The conversation further unfolded to reveal the profound importance of empathy in connecting with your customer avatar and expressing an emotional bond with your product. Intriguingly, we also scrutinized the necessary aspects to position your business for success. The conversation underscored the significance of understanding your numbers, planning for the worst-case scenarios, and the power of informed questioning. Navigating through the experience of doing business in the US as a British national, we also touched upon the challenges she faced along the way. Make sure to catch Kata Phipps at the upcoming Billion Dollar Seller Summit in Hawaii. This episode is a treasure chest filled with practical advice, inspiring anecdotes, and key strategies for those dreaming of financial success and freedom! In episode 363 of the AM/PM Podcast, Kevin and Kata discuss: 01:46 - Impressed by Meeting and Networking 09:36 - Chile Is A Really Cool Place 10:13 - Learning Psychology Helped Kata Succeed On Amazon 21:03 - Kata’s Amazon Brand Exit And Talking About Wealth 21:56 - Orchestrating Her First Amazon Exit 22:34 - A Generational Change 36:54 - Becoming A Master Of One Thing 43:25 - Financial Independence and Generosity 44:07 - Customer Empathy As A Major Advantage 47:09 - What’s Next For Kata? 48:05 - Entering The Supplement Category And The Deep Reason Behind It 56:30 - Billion Dollar Seller Summit in Hawaii 59:57 - Refreshing Conversation on Similar Philosophies 1:00:36 - Kevin King’s Words Of Wisdom Transcript Kevin King: Welcome to episode 363 of the AM/PM Podcast. My guest this week is none other than Katta Phipps. She's originally from Chile but living in the UK. Now she's got a different perspective than what you're normally going to hear and I really like it. I think she's one of the smartest women in this space smartest people in this space and she just doesn't like to work. She likes to, so she thinks of everything in terms of how can she do the least to maximize the most. She's already had a seven figure exit. She's on her way to another seven or eight figure exit. Now. She actually got her start listening to me on the Seller Sessions podcast, so this is kind of full circle for her coming back on the AM/PM Podcast. I think you're going to really enjoy this episode. Let's get it going. And before we do that, don't forget to sign up for the Billion Dollar Seller's Newsletter. It's totally free. It comes out every Monday and Thursday. So if you're interested in getting a billiondollarsellers.com, I think you'll find some really good, valuable, actionable tips and strategies in there. Plus, you'll learn a little bit more about me. Kata Phipps, welcome to the AM/PM Podcast. It's an honor to have you here. Kata: Well, it's an honor to be here. Thank you so much for inviting me. Kevin King: You're someone that I'd heard a lot about for several years through Athena and through some other people and kind of watched what you're doing from afar, but I didn't really get to actually meet you until I went to Seller Sessions. I think it was like the first time we actually got to spend some time talking. I think we might have met somewhere else briefly, but, yeah, spend some time talking to you like networking bar or something like that, and I was thoroughly impressed. I was like holy cow, this girl is sharp. I mean I knew she was smart but like she's like next level up there. So I was like I got to get her on the podcast and got to get her to come speak at BDSS. This is, this is good stuff. Kata: Thank you. Kevin King: You're welcome. How long have you been in this Amazon game? You've been doing this for a day or two, right. Kata: Well, funnily enough, it feels like a lifetime, but actually September 2018. Kevin King: 2018. How did you hear about this? What got you into this? Did you see something online? Did you have a friend that was doing it? Did you look for an opportunity? Kata: No well, I was bored. I was bored and I was poor. Both things are not good. Well, my husband he at the time was an active wing commander in the Royal Air Force for England and we were stationed in different parts of the world. So, being an officer's wife, it's not what it's all painted out to be and it definitely wasn't my path. So I was pretty bored. My clinical psychology is by trade, but I never really did get to practice from, since I moved from Chile, which is where I was born, to England when I married Matt. So basically I got to have a lot of degrees and I did a few masters. You know distant learning. I learned English through doing a masters in English, in psychology as well, during the time that I was following Matt around the world in his postings with the military. But actually it got to the point where I was just thoroughly bored and flower arrangements and dinner and fancy dressing was a longer career for me. So Matt comes back home one day had listened to a podcast on his commute back from Washington we were living in Maryland at the time in America and he says oh, I listened to this really cool thing about how to sell on Amazon and I listened to it and I thought I could do that. And then we started learning through free resources I could consume, basically. So I started looking at products and I fell in love with product differentiation and bundling of items that were frequently bought together, which wasn't really a thing back then. But I knew that I'm a bargain queen and I'm a very good shopper myself and probably with my psychology background, I sort of had a very good idea of what people were looking for when coming review. So we just decided to give it a go. So we went into debt and we ordered our first product and started just, you know, taking it one day at a time and spending several hours house cleaning while listening to your podcast. Kevin King: Do you remember which podcast that was that he heard originally? That got that set it off. Kata: Yes, so actually to me it's a very poignant day because the first of the podcast that I ever listened to was Seller Sessions, the first in-depth conversation that I think it was two part, and I remember this so vividly. I was cleaning the floor, polishing the floor, with a mop, head on son, and it was you talking to Danny on Seller. Sessions and I got to hear everything about your you know your days selling calendars and these and that, and I was thoroughly impressed with what you've done and I thought, gosh, imagine if one day I could be in Seller Sessions as a guest. And then I didn't even think about other time to ever get to meet you. But you know, then we decided to invest a little more and actually join a network I'm not sure if I can name it, but yeah, we joined Titan as members and we started learning from the ones that are now my friends and I thought, my God, these guys you know, justin Dyson at the time was the leader of and the coach of our group level revenue-wise is how it's split out. So we were having these weekly conversations and I thought, oh, my God, these guys are so amazing. I need to go to an event and actually meet them. If I'm in the room with them, I'm going to get to pick their brains. So we did it and then I went to China Magic and then I got to meet Danny and we became really good friends and life became a little crazy really, because everything sort of happened overnight, but at the same time feels like a long period of time of my life. Kevin King: That's kind of serendipitous, there, isn't it? The podcast you listen to with Seller Sessions. Now, danny is one of your best friends. He comes and hangs out at your house and you guys do stuff. I know he comes there like decompress and like get away sometimes and he's a good guy, really, really great guy. And then you're listening to me talk and now you're on this podcast, so it's like everything's like coming like a full circle. Kata: Today we're close in the full circle, but you know what? I have lived a life with no regrets and I think that the key to everything we have attained in life is actually that abandoned smile and said where? You know a lot of neuro-programming, linguistic, if you wish. I always knew I was going to be successful. I just didn't care or worry how, and I believe that if you put in the work and you're humble enough to learn from those that have done already, you always gonna get somewhere, and that's just how it happened to us. You know, if it's not us, it's not. Our success will learn from all of you guys in the industry that have done it previously, and I can't enough to share your knowledge, which is why we do it now as well through our own, you know, means as possible which part of Chile, Santiago, or the south or north, or which? I used to be a city girl from Santiago, yes, and now I live in the middle of nowhere, but yes, in England, but Santiago? Kevin King: A lot of people don't realize it, but Chile is probably one of the most European western thinking countries in South America because Argentina has, you know, boulevards that look like Paris and stuff, because all the a lot of Italians move to Around the time. A lot of people don't realize this, but around nineteen early nineteen hundreds there's a lot of people coming to the united states from Europe, going to stories of ls island, but the same time about an equal number of Italians especially we're going to to a, to bonus, a race in Argentina, and so Argentina has a lot of European influence. But Chile Is probably the most advanced, most western country in all of South America and I love that's because it's a lot of German, heavy German influence there, because yeah. You can go around and there's tons of German influence everywhere, in the countryside, in the cities and it's a. It's a really cool place it's. For those of you don't know what Chile is, it's the little skinny one on the on the far left side of South America that runs what three thousand miles from top to bottom or some crazy About like that, but everything from the deserts, the Atacama desert in the north all the way down to the I go kind of in the middle. What's that little city outside send the ago, where you can take a little cable car, all the colorful buildings, and then down into the south with the volcanoes and everything it, and then very typical South America. Amazing, yeah, I'm in Patagonia. It's amazing, amazing place. So did you meet your husband in Chile? Was he based there or do you meet? Kata: Another serendipity story which white, by the way, is one of my favorite words is kind of funny that you said it Assist the film. She says it is. But yeah, my was actually a couple of friends of his where going on a tree. But one of the friends had to call out last minute and my job team I'm winning the friend of a friend of a friend of mine was like oh my god is gringo. So here they don't speak any Spanish. I need to say the mark is a friend of my brother, is back in London. So what do I do? And I'm like, I know I go out. I was. I was a geek psychologist studying and I already had a song, so I was much more mature than all my friends that where. You know, I'm in our party. I work really hard since that, since a very early age, and so should I never go out. You can't bail now. Just get the gringos here. The get drunk with one glass anyway, that's a much. We can continue chatting. And then she said well, then I went on, the drinks were flowing and I didn't speak English, I didn't speak Spanish, but you know that my friend had the idea of saying If you kiss one of the gringo, so pay the bill and I am cheap. So I did, and here I am leaving my best British life. Yeah, no, it was that. Yeah, it was, it was really good. Actually, I'm really tell the languages throughout the years. Eventually we had a long distance relationship for about three years which Feed it both of our lifestyles, and then eventually, I suppose, we started running out of money to travel, so we just got married and here I am. Kevin King: We have a few things in common. I'm going through divorce right now, but my wife was Columbia and I met her in Columbia as a similar thing and I met her 2009 I think and I gone down there just as a tourist and the guy that's supposed to take me around contain me that day. So he sent the office girl. She's just like the office girl. She came and took me and we did a little trip on the, on the little snorkeling kind of trip, and we just kind of hit it off and so they went to dinner that night and nothing. Nothing happened there. But I'm learning Spanish right now and I take it in high school and I knew a little bit, but I was like trying to get a little bit better at it is like I'll come back in a year and I want to be able to speak in Spanish with you, for have a 15 minute conversation in Spanish and I was just half joking, but you know half but and she help me to it so like over the course of the next year, so you better be studying your Spanish. You said you're coming back in a year and so I ended up going back a year later and then we got together and we did long distance for seven years Before she moved to the United States. She was studying law at the time, so she wanted to finish her law degree, and so we. Then she came to the United States. So yeah, I just was mad. Kata: Fluent in Spanish, your husband no, we were just drunk, and now he would love me to say yes, but no, he understands a lot more than he let's on the you know, but no, I'm not, that's not yet speak fluent Spanish, but he understands some words which are probably not the best ones Very well when I lose my patience yeah, I was gonna say, I was gonna say I bet there's some Spanish that comes out sometimes when you're, when you're upset about something and he, I think he probably gets the picture pretty quick. Yeah, we speak a lot with looks you know I think about a funny Latino and some American people. You can say hello, which is you know. Kevin King: Your body, your background. You studied psychology, so that's come in. It's probably super helpful in your business, because a lot of people don't realize marketing psychology and if you understand psychology, you have a huge lag up when it comes to Business. I mean to market to any kind of business, especially e-commerce, because the fundamental principles is not what's the latest hack, what's the latest trick about this. I mean, all those things are cool, but if you don't understand the fundamental psychology of why people do things and how to motivate them to do things, your chances of success turn to luck verses Just make it happen. So how would you and a lot of people in our busines…
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