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7 Concepts That Will Grow Your Business

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We talk to business owners at all levels all the time, and one thing we’ve noticed is that a few key habits separate the high achievers from those who struggle. 

Some of this comes from what we’ve learned about ourselves over the years and put into practice in our own business.

Before we dive in, I’ve been thinking a lot lately about strategy vs. tactics. And I’ve realized—we’re all about strategy. 

We don’t get bogged down in tactics; we focus on solutions that move us forward.

1) You’re in Control of Your Own Path

This is something we see all the time. 

Some people believe they have no control, but the truth is, you always do. The clearest example? When people say, “I got suspended for no reason.” 

Nope. 

If your account got suspended, something happened—whether you knew about it or not.

Every decision you make has consequences. Every action (or inaction) affects your business. The key is owning it. When you understand that you have the power to change things, it’s a game-changer.

Bottom line: Your choices matter, so make them count.

2) Focus on Solutions, Not Problems

It’s easy to get stuck obsessing over problems. But the truth is, every problem is an opportunity to find a creative solution and move forward.

Some common headaches and how to handle them:

  • Customer returns: If you can fight it, file a case. If not, donate, destroy, or write it off. Either way—move on.
  • Amazon lost your inventory: File a claim, send the invoices, and keep going. This isn’t an exception; it’s part of the game.
  • Performance warnings: Play by the rules. If you get a warning, take it as a sign to adjust and do better.
  • Price wars: Don’t get emotionally attached to a product. It’s a unit. Make the best decision based on market conditions and move forward.
  • Services like TWFrefunds.com can take these tasks off your plate for a small percentage of the refunds you receive, make sure to explore all software options before tackling these obstacles alone! 

3) Think Big. Focus on Where You’re Going, Not Where You Are

The biggest obstacle between you and your goals? 

You. 

If you think something isn’t possible, you won’t even try. But if you map out a strategy, you’ll get there.

Don’t limit yourself by focusing on what you have right now. Instead, set a goal and figure out how to get the resources you need along the way.

4) Take Action. Stop Overthinking

More businesses fail because of inaction than anything else. 

We pride ourselves on doing. 

We evaluate, decide if something aligns with our goals, and then execute.

We don’t waste time overanalyzing. 

Most decisions aren’t irreversible, so why not take action and adjust as you go? Real growth comes from trying, failing, and learning—not from waiting for the perfect plan.

5) Help Others, and You’ll Grow Too

Too many people ask, “What’s in it for me?” We used to be the same way—keeping everything private. 

But once we started networking and sharing, our business took off.

Helping others brings valuable insights, feedback, and connections. Don’t be a taker. Offer value, collaborate, and you’ll see the benefits come back tenfold.

6) Get Things Done Without Doing Them Yourself

This is all about outsourcing and automation. Too many business owners try to do everything themselves. 

But time is your most valuable asset.

Find ways to delegate and automate. The more time you free up, the more you can focus on what actually grows your business.

Services like TWFsidekick.com can match you with a list of VA candidates to hire. One upfront cost and then no additional monthly fees or agency complications once matched. 

Simply paying your VA directly for hourly work, this service will save you tons month to month with your international employee. 

7) Cut Out Negativity

Negative people attract each other. 

They focus on what’s wrong, complain, and drag others down. 

Being around them will kill your motivation.

We realized this early on. The moment we stopped engaging with negativity, our outlook and performance improved. Surround yourself with people who are driven, positive, and ready to succeed. It makes all the difference.

I hope this gave you a fresh perspective—or at least reinforced what you already knew. Thanks for reading, and if you find yourself stuck remember to email support@thewholesaleformula.com with any questions day or night!

This 1 Sentence Transformed Our Content Strategy…

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In December 2014, our co-founder Dylan was working as a printer repair technician, making $40,000 a year. Growing up in one of America’s poorest counties, his future seemed limited.

Then one insight changed everything.

Within six months of this breakthrough, Dylan had generated over $120,000 from content creation. Within 18 months, he became a millionaire.

Before turning 30, he was a multi-millionaire.

The insight that transformed everything? It’s deceptively simple:

Every decision your customers make relates to survival, and once you understand this, you can transform your Amazon business forever.

Now, this can be implemented into MANY aspects of your Wholesale business. But there’s one place in particular where it can make a HUGE difference.

Your content creation.

This Is A Total GAME-CHANGER For Content Creation

Think about the last purchase you made.

While you might think it was just about getting a product you wanted, deeper forces were at work.

Your brain was asking: “How will this help me survive and thrive?”

On Amazon, your customers are asking the same question.

They might not realize it, but every scroll, click, and purchase decision is driven by this primitive instinct. Understanding this changes everything about how you position your products and build your business.

Sales Is 100% About Psychology – Get Inside Your Customers’

Your customers’ brains have one primary objective: survival and advancement.

Of course, this is different than it was 100,000 years ago. Today, “surviving” has a much different meaning. Right now, this translates to…

  • Saving money
  • Saving time
  • Reducing stress
  • Improving status
  • Enhancing security
  • Creating better lives for their families

When you understand THIS, your product listings transform from mere descriptions into powerful tools that speak directly to these fundamental needs.

Maximizing Your Content’s Impact (& Driving Sales)

Alright, so what are the QUICK ways to start implementing this? Check it out…

1. Storytelling That Sells

Your product listings aren’t just about features and specifications.

They’re about telling a story that connects with your customers’ survival instincts.

For example, don’t just list your product’s features – show how each feature makes their life better, safer, or more successful.

This is an EASY switch to make, and it will have a lasting impact on your conversion rates.

2. The Power of Giving First

At The Wholesale Formula, we’ve seen this principle create extraordinary results.

When you focus first on providing value to your customers, you build trust that translates into loyal, repeat buyers.

This isn’t just good karma – it’s good business.

3. Creating Genuine Urgency

While artificial scarcity can backfire, genuine scarcity is a powerful motivator.

Your brain is programmed to act quickly when resources are limited. Use this ethically by being honest about limited stock or special offers.

Taking Content Creation To The Next Level

Here’s the MOST IMPORTANT part – and where most Amazon sellers go wrong.

You might understand your product perfectly, but if you can’t communicate its value simply and clearly, you’ll lose sales.

Think about it this way:

  • If you’re an expert, your knowledge is at level 10
  • You might think you’re simplifying to level 6
  • But customers make buying decisions at levels 1-2

The key? Strip away complexity until your message is crystal clear. Remember: You’re not dumbing it down; you’re making it accessible.

Putting It Into Practice

Want to transform your Amazon listings? Start by doing this…

  1. Examine each listing from your customer’s survival perspective:

    • How does this product make their life better?
    • What problems does it solve?
    • How does it help them thrive?

  2. Simplify your message:

    • Can a 12-year-old understand it?
    • Have you eliminated all jargon?
    • Is the benefit immediately clear?

  3. Build trust through value:

    • Are you focusing on customer benefits?
    • Have you proven your reliability?
    • Are you telling a compelling story?

Your Next Steps

Dylan’s journey from printer repair technician to multi-millionaire wasn’t about having special advantages or connections. It was about understanding these fundamental principles about human behavior and applying them consistently.

You can start applying the EXACT same techniques.

Start by reviewing one of your product listings right now. Ask yourself:

  • Does this speak to my customer’s survival instincts?
  • Is my message crystal clear?
  • Am I building trust through value?

The answers to these questions could transform your business, just like they transformed ours.

Remember: The clearest communicator wins. And now that you understand the survival instinct driving every purchase decision, you have the power to communicate more effectively than ever before.

The Wholesale Formula Team

From Almost Quitting to $1.5 Million… 

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 It doesn’t matter who you are, where you’re from, or what kind of background you have.

There is ONE THING that holds so many people back from their true potential.

Fear of failure.

And this doesn’t just affect beginners either. This fear hits ALL of us at some point in our lives. Whether you’ve never sold a dime online or you’ve made 8-figures.

It’s a fact of life.

But how you deal with it is what truly matters.

When we first met Cheryl, she was battling that fear herself.

Today, she runs a thriving seven-figure Amazon business – even topping $1.5 million in sales one year. But her story almost ended before it began. Now, her story is an inspiring lesson for anyone looking to run their own business…

When “What Do I Have to Offer?” Meets a Million-Dollar Opportunity

“What could I possibly offer?”

That’s what Cheryl kept asking herself after discovering The Wholesale Formula on Facebook.

Despite her fears, something made her take action. She invested a significant portion of her savings into the program – a decision that would later prove transformative, but at the time felt terrifying.

Like many people starting their own business, Cheryl’s early journey wasn’t always smooth.

She “fell flat on her face over and over again,” as she puts it. But unlike many others who let failure stop them, Cheryl kept pushing forward, even when her doubts screamed loudest.

The Dinner That Changed Everything

We’ll never forget the night Cheryl nearly gave up.

During a TWF event, she sat next to Dan at dinner and confessed she was ready to throw in the towel. This was remarkable because, as she puts it, “I’ve never given up on anything – I am a fighter.”

But sometimes even fighters need someone to believe in them.

Dan saw what Cheryl couldn’t see in herself at the time. “You’re smart, you’re well-spoken, you’re educated,” he told her. “But you don’t even need to be all those things to be successful at this. You just don’t have the confidence.”

That conversation became the turning point in Cheryl’s journey.

When Numbers Tell a Story of Transformation

What happened next still amazes us:

  • First year: $40,000 in sales
  • Second year: $400,000
  • Third year: $1.2 million
  • Fourth year: $1.5-1.6 million

But here’s what makes us proudest: Cheryl’s success isn’t just about the numbers. As she told us recently, “I never imagined I would be talking about these kind of numbers in my life.”

The Real Definition of Success: Finding Freedom

Today, Cheryl enjoys what she calls true freedom for the first time in her adult life.

“I have freedom of finances, I have freedom of time,” she said.

Perhaps most remarkably, she considers herself “semi-retired” after just four years – something she never thought possible.

But what moves us most is how she’s transformed internally.

The woman who once questioned what she had to offer now faces her fears head-on.

“Your fears are just that – they’re not real,” she tells other members of our community. “I didn’t face them for a long time. I ran away. Now I am like full-bore, let’s go for it!”

A Transformation Beyond Price

When Cheryl tells us we changed her life, we always remind her that she did the work. We simply provided the tools.

As she puts it, “Whether we implement it or not, or how we implement it, it is up to us. But you don’t know what you don’t know, and they gave me that.”

Her story embodies everything we believe at The Wholesale Formula – that with the right tools, support, and determination, transformation isn’t just possible – it’s inevitable. Every time we see Cheryl at events now, we’re reminded of why we do what we do.

Never forget, sometimes the biggest success stories come from those who almost gave up. Sometimes the most powerful transformations happen when someone finally believes in themselves.

And sometimes, all it takes is the courage to try one more time.

That’s what The Wholesale Formula community is all about. And we couldn’t be prouder to have Cheryl as part of our billion-dollar success story.

I Doubled My Sales with This SOP

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I have a confession to make… 

While it’s true that I’m known as the “Automation guy” because I automated my business early on so that I could watch it grow in my sleep… 

And it’s also 100% true that I was able to quit my job (before I got laid off!) in 2017 entirely because I had systems and processes in place for practically everything – especially scouting and sourcing… 

There’s one thing I never automated until very recently…  

And now that I have… my sales have almost doubled. Naturally, I feel like a dummy for not automating it before now. 

I knew HOW to automate it… 

I knew WHY I should automate it… 

In fact, I have encouraged other people to automate it… 

But I never did. Why? Because it’s about my money… 

I’ve always had a phobia of turning control of my purse over to someone else

That phobia has meant that I never automated how I place orders with vendors.

Don’t get me wrong… everything AFTER the order is placed is automated. 

The logistics, shipping, labels, Amazon shipments and so on… 

But the actual act of running a forecast, generating a PO and getting it to a supplier? That’s all me, and it has been since the beginning… 

So, why the sudden change? Honestly, it’s because I was very close to losing an account because I was doing a bad job of placing orders on time… 

You see, I automated my business years ago so that I basically only have two jobs… 

  1. Smile, shake hands and kiss babies (be the frontman for the business) 
  2. Place orders (Because no one should touch my money… or so I thought) 

Everything else I automated and have other people doing for me… That means my time working on the business has shrunk down to just a few hours a week… 

With my free time, I started other businesses that needed more attention… 

And I got distracted… 

And I started screwing up and missing orders and letting stuff go out of stock. 

Until one of my brands (who we are the exclusive seller for) told me in no uncertain terms “Hey Ian, thanks for everything you’ve done, but if you can’t stay in stock we need to find someone else who will” 

Talk about a splash of cold water… 

Believe it or not, I get myself into this situation all the time… 

I believe that one of the universal truths of the world is that if you don’t like doing something… you will find reasons not to do it. 

I first discovered this when it came to scouting and sourcing – man, I HATE doing that. It’s tedious and I would rather do anything else in the world than scouting and sourcing. 

So, I found someone else to do it for me, and trained them to do it, and then automated it with SOPs, and suddenly I was flooded with accounts… Bingo. 

Throughout the years since, whenever I find myself getting in the way of my own success, I gently remove myself from the situation and have someone else do it… easy. 

So… I KNEW what I had to do to keep this account… but, my phobia… remember? 

I decided to just let “Jesus take the wheel” and turned over the whole ordering and restocking process to my awesome virtual assistant… 

It was uncomfortable, and I was terrified, but I put an approval step in the process so that I felt more in control… 

Here comes the best part… 

My VA’s run our financials every month (naturally) and after two months of letting my team do all of the ordering, my VA shot me a message and said.. 

“Hey sir… I was just checking our numbers from last month and our sales have doubled. Good job!” 

She was telling ME good job when she was the entire reason for the sales doubling… 

Who would have thought that staying in stock could have such a powerful impact on your business? (heavy sarcasm)

Anyway… I thought this was so cool that I wanted to share the SOP I use to have our restocks done right. 

You can check it out by going here.

I built it using a software called Process.st which has been a game changer for my business. 

If you try out Process.st and you love it, don’t sign up for an account until you check out Lesson 3 of the Masterclass because in that lesson I’ll tell you more about Process.st and share how you can use process.st for a real steep discount.

Billion Dollar Mark

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We launched The Wholesale Formula in 2015 to start teaching and mentoring others how to sell on Amazon using the same strategy we used to build a multi-million dollar business.

In 2018, we asked students of The Wholesale Formula to share their revenue numbers… we were shocked and delighted to discover that our students had sold over half a million dollars on Amazon!

So we decided to go back to our students again in 2020 and ask them the same question… how much have they sold now?

Their answer floored us…

$1,057,143,592…

For those that don’t want to count the zeros, that’s over a BILLION dollars sold by the students that responded to our survey…

The Wholesale Formula teaches you how to build a sustainable business on Amazon, but the real goal of it is to give our students the tools they need to realize their dreams and accomplish their goals…

Over the years, TWF students have quit their jobs, gotten out of debt, become financially independent as young as 19 years old, lifted themselves up and off of welfare, put themselves and family members through school, and given themselves the freedom they deserve…

As we did last time we made this announcement, let’s look at the numbers…

We sent out a survey to our 4,800 students inviting them to disclose their Amazon results…

960 of our students responded with a combined revenue of $1,057,143,592!

That’s an average of $1,100,000 per student… wow!!

$1.1 Million dollars is a life-changing figure…

There are a couple of important notes.. first, that MOST of our students didn’t respond to the survey which means that figure is probably much higher!!

And the other thing to note is that some of our students don’t make any money at all with TWF for one reason or another – and we highlighted that fact last time for good reason: TWF is NOT a get rich quick scheme, it’s a formula for building a real business by leveraging the Amazon seller marketplace.

Speaking of the Amazon marketplace – this past year has been wild!!

The global pandemic affected a lot of people around the world, some bad, some good. We all watched in dismay and with concern as local businesses shuttered and people lost their jobs. However, for our students, and anyone selling on Amazon, we experienced something completely different – a massive boom in sales.

A sales boom so big that Amazon had to hire 400,000 new employees in the BIGGEST non-wartime workforce ramp-up in history!!

Between Black Friday and Christmas of 2020 Amazon sellers surpassed $4.8 billion which is an increase of 60% over 2019. Amazon sellers represented approximately 60% of all sales on Amazon during that time period too!!

This is awesome news because it continues a trend that we’ve seen year over year – Amazon is growing, and its 3rd party marketplace is growing!

Consider this:

*Sources: https://www.channeladvisor.com/blog/scot/deep-dive-into-amazons-q4-results-for-sellers-whats-cool-100b-and-200b/  & https://www.marketplacepulse.com/

This means that if you had started selling on Amazon in 2015 (The first year we launched TWF!!) then you would have hitched your wagon to a business that grew by 90% and generated an additional $164 Billion for their 3rd party sellers

Amazon is an amazing opportunity, and it’s going to continue to grow and be an Amazing opportunity as Amazon cedes more and more of its revenue share to 3rd party sellers and continues to expand and add new infrastructure.

As for us, we want to keep teaching students how to earn a living and build a business using Amazon 3rd party selling and we can’t wait until we pass the $1.5 Billion mark for our students!

Hopefully the next time we check-in, you’ll be part of the success stories we share!

For more information about how this information was gathered, please see our Earnings Disclaimer.

Report Finds 1 in 5 Amazon sellers sold over $1 million dollars worth of products in 2018

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REPORT FINDS 1 IN 5 AMAZON SELLERS SOLD OVER $1 MILLION WORTH OF PRODUCTS

“It’s too saturated.”

“It’s too competitive.”

“It’s nothing but a fad.”

We hear all kinds of reasons why becoming an online seller via Amazon is a waste of time. And ultimately, one of the biggest reservations that people have about selling on Amazon is not being able to turn a decent profit, let alone scale it into a full-time income.

It’s understandable. After all, every time you turn a corner, someone you know seems to be telling you they’re selling on Amazon. Your Facebook news feed is probably jam-packed with paid ads featuring online retail gurus who struck it rich and now want to show off their mansion and collection of fancy cars to any stranger they can reach.

If it seems too good to be true, it probably is, right? Maybe not…

We could sit here and argue about the viability of selling on Amazon until the cows come home. For every person you talk to about it, you’re probably going to get a different opinion.

Instead of telling you our personal opinions on the matter, we want to go in a different direction and let the data speak for itself. That’s right: There’s actual research proving that selling on Amazon can be immensely profitable. You don’t have to just take our word for it.

Let’s start with Feedvisor’s survey: The State of the Amazon Marketplace in 2018, which was based on survey results from 1,200 Amazon sellers. The results might surprise you — and even change your mind about pursuing a future as a seller on the marketplace giant.

1. More Sellers Are Making at Least $250K in Yearly Revenue

Let’s nip the myth that you can’t make money on Amazon in the bud because the survey results say otherwise.

In 2017, 28% of merchants made over $250K a year. In 2018, that increased to 40%. More specifically, million-dollar Amazon businesses are on the rise, growing by 9% in 2018.

It doesn’t end there, though. Multimillion-dollar sellers are seeing a boost too — from 1% in 2017 to 3% in 2018.

So, not only is there a substantial number of sellers making significant revenue, but that number is growing year over year. There is an increasing amount of room to be wildly successful in selling on Amazon. This is because although the number of people selling on Amazon is growing, at the same time, so is the demand. More and more people are shopping on Amazon than ever before. It’s the biggest online retailer in the country, and it makes up a whopping 50% of e-commerce growth.

The number of sellers can’t keep up with the demand. That’s how quickly Amazon is expanding.

Here’s how the survey broke down revenue:

With all of the money being made here, don’t you think there’s room for you? We sure do.

2. More Sellers Are Expanding Beyond the United States

Another pesky myth is that selling outside of your own country requires too much hoop-jumping and additional costs. Is there a learning curve? Sure. Might it take extra effort on your part? Probably.

Is there real money to be made? Without a doubt.

Online retail knows no geographical boundaries, and Amazon sellers are proof of that. According to Feedvisor’s survey, 37% of sellers said they were already selling outside of the United States, and an additional 26% said they planned to expand internationally throughout 2018. In 2019, the number of sellers going international increased to 45%!

This is one of the best parts of running an online business. You’re not confined by state lines or even country borders. There are no limits, no boundaries. If you want to, you can grow your business as big and as far as you’d like.

Isn’t that one of the reasons we want to ditch our 9-5s and start our businesses — to determine how much money we can make? This isn’t something you can get from any employer, who has total control over your paycheck.

You can stay domestic if you want — and still make an insane living, by the way. But just think of the possibilities when you can sell to the entire online world.

3. FBA is the Way to Go

Understandably, aspiring sellers sometimes express concern regarding the fees associated with selling FBA. Yes, Amazon offers to handle tedious and time-consuming tasks like packaging, shipping, and all matters of customer service, like returns, refunds, and replacements. In exchange, they take a cut of your sales.

But is it worth the additional cost? Wouldn’t it ultimately be cheaper to manage everything yourself? The survey says no.

Don’t get us wrong: FBM certainly has its advantages, and under some circumstances, it’s the better of the two approaches. For instance, it offers you more control over your inventory, since you’re never sending it off to Amazon’s warehouses so that they can take over from there.

However, the survey reveals that in terms of revenue, FBA is where it’s at. Looking specifically at profit margins above 11%, sellers that are over 60% FBA always beat out sellers that are mostly FBM. Around 33% of sellers who were at least 60% FBA experienced a 21-30% profit margin. Only 25% of FBM sellers could say the same.

This tells us that while, yes, FBA means an additional cost to the seller, the benefits far outweigh that cost. It was a popular approach in 2018 and continued to dominate in 2019.

Clearly, there’s no doubt that you can sell on Amazon not just as a casual side hustle (although that’s totally okay) but as a lucrative, full-time income. The next question, then, is how?

It’s in your best interest to find an approach that requires the least risk but still offers a big reward. Private label demands a hefty upfront investment, so if it fails (which happens to some sellers, let’s face it), you’re out quite a bit of money.

Dropshipping is unstable, and Amazon is not a fan of drop shippers. It’s not a logical long-term approach.

Retail and online arbitrage are both difficult to scale. Stores and brands are catching onto resellers and starting to limit how many units of one product you can buy. Similar to dropshipping, this won’t be feasible in the long run.

But there is an option that can work for you: wholesale.

Wholesale excels where all of the other methods of online selling fall short. Because there’s a formula for finding products that are already winning, it requires far less risk on your part.

Plus, you’re forming long-term relationships with distributors and manufacturers, meaning you might be working with them for years at a time to sell their products on Amazon.

There are a lot of people out there teaching a lot of different ways to sell on Amazon. Very few of these people, however, can prove that their methods work.

The Wholesale Formula has countless success stories — people whose lives have changed as a result of following our strategy for selling wholesale on Amazon. It worked for them, and it can work for you too.