How Andri Sold His Amazon FBA Business for $500,000 in Cash!

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In this video, I interviewed my friend Andri, who recently he sold his Amazon FBA business for $500,000 in CASH. I got the opportunity to pick his brain and ask why and how he sold his Amazon business, what he did before Amazon, what mistakes he made, and the good decisions he made along the way.

Andri went in detail about his struggles, learning experiences, as well as the successes he had along his journey. From quitting his corporate job in real estate development, to selling his first product, the strategies he used to stand out in an uncertain market, what his mindset was for building something out-of-the-ordinary, and then the process for eventually selling his Amazon FBA business. If you have the intention of selling your business one day for up to $200 million - $500 million, then you will get a ton of value from this interview.

One of the perks of taking my masterclass is that my students get an opportunity to directly ask questions on our Thursday night coaching calls. Whether you're a beginner, intermediate, or advanced seller, if you're interested in this type of coaching, feel free to click the first link above.

0:00 Introduction
1:40 Thanksgiving Discussion
3:15 Tom Recalling When Andri First Sold His Business
4:25 Sales Lesson
5:20 Andri Introduces Himself
6:06 Why Andri Left His Full-Time Job
7:11 How Andri Started To Learn More About Online Businesses
9:04 When Andri Actually Started Amazon
9:24 How He Learned To Do Product Research
10:37 Tribalization
11:45 How His First Product Performed
13:36 How He Made His Listing Stand Out
14:03 Pricing Strategy For A Premium Product
15:10 Competitive Strategies In An Uncertain Market
17:01 Strategies To Get People To Join His Facebook Group
19:03 Listing Preview
19:22 Where He Got His Professional Photos Done
20:32 What Makes His Listing Really Good
22:00 Challenges In His Amazon FBA Journey
27:30 Andri’s Experiences Living As A Digital Nomad
29:44 Mindset Lessons Learned Along The Way
33:40 Why Andri Decided To Sell His Business
35:22 How He Sold His Business (The Process)
38:43 Who Bought His Business
40:44 The Transition and Inspection Period
44:00 - insert card - how to sell your business for 1m
44:34 Setting The Goals To Sell Your Business
47:52 What Andri Did With His $500,000
49:01 Tips For Researching New Brand Ideas
50:33 Student Q&A Beginning
52:52 Andri’s Other Products
53:17 Virtual Assistants and Employees
53:44 How The Business Was Valued At $500k
55:20 More On The Inspection Process
56:28 Trademarking and Copyrighting His Product
57:30 How To Provide Great Customer Service
1:00:14 Why Andri Chose His Product
1:03:10 General or Branded Store?
1:03:10 General vs. Branded Stores
1:06:55 Closing Notes
1:08:16 Where To Follow Andri Online


Who is Tom Wang?

Hi I’m Tom Wang. Just a few years ago, I was a pretty normal guy who worked at a sales job. But I felt stuck. I’m from a Chinese immigrant family, so taking care of my parents financially was always a big important motivator for me.

The problem is I knew I wouldn’t make enough at any job to do this.

So I looked to start an online business.

After 10 months of starting on Amazon, I was ready to throw in the towel.

I sat my girlfriend down to let her know I was going to quit - like I did with so many of my other side hustles. But she didn’t let me. She reminded me - just one successful product on Amazon would change our lives - and she was right.

We launched our 3rd product that’s the one that finally took off.

Since then I’ve made over $6M+ in sales, I’ve traveled the world and I live my dream life.

The purpose of this channel is to document my journey, and to help the people who were like me back in the day. I talk about Amazon strategies. Tips on being an entrepreneur. Life hacks I find out about. And more.

Wherever you are on your journey, I hope to help you move closer to your dreams and to help those you care about too.

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