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I Doubled My Sales with This SOP

May 31, 2022 by TWF Team

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.

Filed Under: Uncategorized

Billion Dollar Mark

January 25, 2021 by TWF Team

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.

Filed Under: Uncategorized

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