Show notes
In episode 502 of the Serious Sellers Podcast, Bradley and Swapneel discuss: 00:00 - Selling on Amazon And Scaling Rapidly 14:18 - Product Launch Strategies and International Market Approaches 12:47 - Scaling a Multimillion-Dollar Business Solo 17:52 - Product Research and Potential Products 20:39 - Issues With Suppliers and Product Lifespan 23:42 - Product Launch and Maintenance Strategies 34:40 - What's Next For Swapneel? 38:52 - Swapneel's 60-Second Tip ► Instagram: instagram.com/serioussellerspodcast ► Free Amazon Seller Chrome Extension: https://h10.me/extension ► Sign Up For Helium 10: https://h10.me/signup (Use SSP10 To Save 10% For Life) ► Learn How To Sell on Amazon: https://h10.me/ft ► Watch The Podcasts On YouTube: youtube.com/@Helium10/videos Transcript Bradley Sutton: Today we've got a very unique seller. He sold over $10 million over the last couple of years, has 60 products in over 10 marketplaces and launches a new product every month. Guess how many employees he has? Zero. How cool is that? Pretty cool, I think. Black Box by Helium 10 houses the largest database of Amazon products and keywords in the world. Outside of Amazon itself. We have over 2 billion products and many millions more keywords from different Amazon marketplaces, from USA to Australia to Germany and more. Use our powerful filters to search through this database for pockets of opportunity that you might want to get into with your first or next product to sell on Amazon. For more information, go to h10.me forward slash black box. Don't forget you can save 10% off for life on Helium 10 by using our special code SSP10. Hello everybody and welcome to another episode of the series sellers podcast by Helium 10. I am your host, Bradley Sutton, and this is the show. That's a completely BS free, unscripted and unrehearsed organic conversation about serious strategies for serious sellers of any level in the e-commerce world and from the other side of the world. We've got a serious seller here that is joining us for the first time in the show. Why don't you go ahead and introduce yourself, since it's your first time on the show. Swapneel: Hi, my name is Swapneel and I'm from India. Been selling on Amazon from the year 2014 and, as a full term, from last four years. Bradley Sutton: So yeah, were you born and raised in India? Swapneel: Yeah. What part Rajasthan, Jodhpur. Bradley Sutton: Okay, all right. And have you lived all your life there or have you moved around at all? Swapneel: Yeah, so when I was like 19 years old I went to New Delhi like for my university for five years and then right now I'm like kind of digital nominate, so I don't really live here anymore, but just maybe like two, three months a year just to visit my family, because my family still live here. Bradley Sutton: Okay. Well, what did you go to a university for? Swapneel: I did law so. Bradley Sutton: I wanted to be a lawyer. Swapneel: Yeah, so I did law for five years and I specialized in intellectual property rights. Bradley Sutton: How does one go from five years studying law and then all of a sudden, e-commerce? Not a natural transition there? Swapneel: No, I was doing part time, like other than focusing at university. I was working as well All my university years. Any commerce yes, I was selling on Amazon from 2014. And yeah, so, and I did. Well, how did that? Bradley Sutton: happen, though, because that's still not typical. It's not like okay, yeah, during the day I'm going to study law, during the night I'm going to sell on Amazon. I mean like especially in 2014, when hardly anybody was doing it, so how did Amazon even get on your radar? Swapneel: So, even before Amazon, I was doing a lot of other platforms like eBay, and there are some other local marketplaces like traders shop clothes, so, and you know, in 2013, amazon entered in India, but in 2014, they opened for everyone, and I knew that Amazon is a really big e-commerce company and I should be there and yeah. So, but, like, even before I went to university, I was making, you know, some money like some, doing some other stuff like flipping goods from online to offline. Bradley Sutton: So, like you've always been like kind of like I had an entrepreneurial mindset in one of those early age. You trying to make some action, okay, now it's making a little bit more, a little bit more sense, okay. And then things started getting bigger so that when you graduated from university, did you just go full time into into e-commerce then yeah. Swapneel: So that that time, like for me the money was pretty big motivation thing. So in my first year of the university I wasn't sure how much I would be making as a lawyer. But on the second and third year I got to know from my seniors like what is the actual situation and I realized that man like I need to put like at least 10 years in law if I really want to make some serious money in this field. Bradley Sutton: Now back in 2014,. I'm assuming you were selling an Amazon USA. Swapneel: No, I just did in India. That's where Amazon. Bradley Sutton: India was active in 2014. Yes, yes, I didn't even know that. Okay. Swapneel: Interesting, yeah, but it was very new. It was really new they didn't do reselling or private label. Yeah, so I was just doing reselling. I used to buy a lot of stuff from USA, mainly from Amazon.com, and then selling in Amazon India. Yeah, Interesting. Bradley Sutton: Okay, yeah, at what year did you first hit the seven figures? Swapneel: The 2021, yes. Bradley Sutton: 2021 okay, and at that point were you one hundred percent private label or were you still doing like some reselling and things? Swapneel: I was doing both and like I feel like so, in 2020 I launched a lot of private label products. During all the, like you know, doing the first lockdown, I was just focusing on all the products launches I will be making, doing product research and my first product has really contributed a lot for my private label journey, like I started with one product and then just my. Bradley Sutton: You're still selling that product now. Swapneel: Not anymore, because the demand is okay. Bradley Sutton: Can you tell us? Swapneel: what it is, then, yeah, sure. Bradley Sutton: I can show. Go ahead and send me the link over in the chat and let me pull it up on my screen. Let's see here. Okay, I see what this is, so let's pull it up here so everybody else can see. There we go, all right. So this is like a, like a USB capture card I'm looking at here. And how did you find this Like? How did you even decide that this was going to be your product? You just got it randomly, or? Swapneel: what. So for me, like one of the criteria to search the product is checking the new launches of my competitor or and see like if I can have that same product in a very less turn around and can enjoy the party. So that's what's my like, I mainly do. And during that time I saw like a lot of people were seeing selling this product but they were doing MFF, like they were not doing full fill by Amazon and like, even though the product demand was there, but they were, I don't know why they didn't did FPA. And I knew one thing like as soon as I will do this FPA, the product doesn't have any. Like you know, any of my computer doesn't have a lot of reviews and if I will do full fill by Amazon, then I can, you know, sell a lot of goods as well. So how many? Bradley Sutton: how many at the peak? Like? How many units of this were you selling a month or a day? Swapneel: I was selling like I was selling like a month I was selling more than 1500 units in India. Bradley Sutton: Wow, wow In Amazon India. And yeah, okay. All right so then you're like, okay, wow, yeah, this is definitely better than reselling, or I have to get a little bit and stuff you could just Well. Did you manufi, did you get it from China, or did you get it from there in India? Swapneel: Yeah, yeah, yeah yeah, I got through some of the suppliers in China. Yeah, but the best thing about this product is not just selling, but the margin I had. So I was buying this product like for $5 and was selling for like this product for around $40. Bradley Sutton: Wow, very nice. Yeah especially in India you're still living in India that the money goes even farther. Swapneel: Oh, yeah, yeah, yeah, yeah, for sure. Bradley Sutton: How long until you bought your parents a house? Swapneel: So I bought the like. You know, as soon as my business started picking up in doing COVID, my family was already super excited. So they already finalized, you know, like don't worry about being a lawyer anymore. Bradley Sutton: No, forget that you know like, hey, this Amazon is good, huh, okay. Swapneel: Yeah, but that you know definitely I was in a bit of stress situation. It's a really big thing, you know so, but that stress really motivated me to push myself further and focusing every small details of my finance, my product. So, yeah, I was a stress, but at the same time I was able to, you know, do better in those situations. Bradley Sutton: So 2021 hit that $1 million mark. How much did you sell last year in 2022? Swapneel: I did $5.4 million. Bradley Sutton: I mean, getting to $1 million is impressive enough. How did you go from $1 million to $5 million just in one year? We're just launching tons of products, or you had some products go viral Were you launching to other marketplaces. How did you increase so fast? Swapneel: So, like I was doing some international markets before in and out, like you know, kind of drop shipping back in 2018 in UK and some EU market also in USA but it was not, like you know, full time or doing throughout the year. Sometimes my accounts were also suspended because of drop shipping. But back in 2021, I started again focusing on the international markets, but still was not doing like a full-fledged business. And back in like 2022, I expanded my business in a very serious manner, like in whole of EU UK, Canada, USA. I know everything how to do an average because I had a lot of experience. And also in 2020, I did my business in Austria as well. So that has really helped me a lot. You know, like provided me enough money to expand in those other markets. Yeah, so that was one of the things like really helped me. And like I was just using my suppliers, which I'm already using in India, and I know that, whatever I would be selling the same product in USA, I would be doing 10X more at least. So that has changed a lot. And also my negotiation skills really helped me because a lot of my suppliers started giving me credit and I utilized those that credit in a very efficient manner like, yeah, you get loan and if you just spend on yourself, then it's not a good idea, but if you utilize pretty well in the business, then definitely it helps. So that's what helped me in 2022. Okay, All right. Bradley Sutton: Now it's coming up. We're now here in Q4 in 2023. Are you going to do better than last year? Same Worse. What do you think you're going to end up with this year? Swapneel: So this year it would be exactly the same what I did last year, because the situation has changed a lot this year. Firstly, I'm traveling whole of this year and it's just maybe like 40-50 days. That was in India. Other than that, I was traveling full time. I was just came, like three, four days ago, from like a four month of trip. I was in North and South America. So this year I was like pretty relaxed and also a lot of things happened at Amazon as well. So Amazon is, I think, are really not smooth at Amazon, so trying to fix those things as well, all right, so now you've got this five months, you've got this five, six million dollar business. Bradley Sutton: You're traveling, enjoying yourself, not working like 100 hours a week, so you must have 20 employees supporting you, huh. Swapneel: Oh, not at all. Bradley Sutton: How many total employees have you had the last few years? Swapneel: So in India I just had one accountant and one person who manages, and then there is one guy from at Veros. That's it in India. But I never had any employee anywhere else, even though my Indian business is not even like 7%. If I compare to my last year's sales revenue, my Indian business was just 7%, but for the rest 93% revenue, I never had any employee. So for your Amazon. Bradley Sutton: USA business and in Europe you have zero employees, just you. Swapneel: Yes, yes. Bradley Sutton: Well. So I mean, people listening to this might ask a question well, like, maybe that makes sense. You know, like if you're working like 90 hours a week and have no life and just stay in your basement and work all day, but how in the world do you scale a business so much? And you're the one who has to answer the customer service, you're the one who has to find a line of their products, you're the one who has to do the keyword research, you're the one who has to make the listing, you're the one who has to fight with Amazon if customer support, if something happens, how in the world can you run a five, six million dollar business just by yourself and not even working really full time? Swapneel: So the one of the best thing with Amazon is their FPModels. So a lot of customers, don't you know, reach out to you if they have any issues with the delivery and all the stuff, and that is one of the reasons why customers, you know, contact to the seller at first place, other than the warranty and all the stuff. And also I was doing a lot of reselling as well in US market, so the brand has to take care of those stuff. So a lot of time was saved for sure, yeah, so, and I had really good partners, for example, with the Logistic thing. I have a really nice shipping agent and that really, like you know, eases my work a lot, just sending the details of the labels and everything and just telling you where to ship which market. They take care of everything. So for me, the main goal was just to, like you know what I can do to improve my revenue, and also sometimes I used to use some freelancers if I was not really good with something. So, yeah, that's it. Bradley Sutton: So how many marketplaces now are you in? So right now I'm in USA, Canada, UK, whole of the EU, UAE, Japan, Australia, India, but more than 10 marketplaces, probably, and are you selling the same products across the board, or, like, some products are only sold in EU, or some products only in USA? Swapneel: Each market is different. For example, in India I can sell mostly a lot of products, but not very high end products and which are technical. Each country the situation is really different. Sometimes there is a really low like maybe a local company who is doing really good and have a lot of reviews, and maybe you don't have any kind of competitive advantage, even though I will try or push, try to push. So for me it's more like market specific strategies, because not all markets are same and every market is completely different. Bradley Sutton: Okay, now what's your, what's your process? Like, how many products are you launching or actually until now active? Approximately how many skews, different skews, you know, like if you're selling the same one product in USA and Canada and Europe, just count that as one. But just roughly, like you know, 20 skews in all marketplaces, 100, 300, like roughly. What do you think? Swapneel: So, like beginning of this year, I was also doing a lot of reselling, but now I'm not doing business with one of the company I used to do and that has definitely contributed a lot to my last year's venue. But things have changed. Bradley Sutton: So private label. Then how, yeah, how many skews are you doing? Swapneel…
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