Today, on The Streamer Show with Debra Conrad, our special guest is: Angie Thompson Ritchey and she is going to share her Amazon FBA Journey.
Angie has been selling on Amazon since August of 2013. Because of her Amazon business she has gone from nothing to actually being able to see the light at the end of the tunnel for all of their children’s student loans in addition to helping two other families who are in need.
A Handful of Books
We all know Amazon has a low barrier of entry when it comes to investment money. The written word is a powerful two edge sword and Angie was able to use that sword to start her Amazon business. Yes, she literally started selling on Amazon with just a handful of books.
She sold some of her old curriculum to local homeschoolers and used the money to purchase a printer and she took off from there.
Started Selling Things From Around The House
Angie started selling things around her house, then graduated to thrifted items, clearance racks and then went into full retail arbitrage in store and online, and also wholesale.
Now, 90-95% of her sourcing is online retail sourcing, with the other 5-10% Thrift, Local Retail and Wholesale
What Fears Did Angie Face?
Charlene talks about how Angie has an inspirational story and that she had to overcome some fear issues. We know that many new sellers face fears and hope that Angie’s story will help you overcome some of those fears.
Thrifting For Profit
The Second Reason for the Season
During my interview with Debra the most important reason as to why I even STARTED selling on FBA flat flew away from my brain.
There are times, when things are so just right THERE in your face that you don’t even see them…..THAT is the place where my kid’s student loans have taken residence. Those, and soon my car payment, are automatically withdrawn every month, so…out of sight, out of mind right?
We have four children, three of whom are now grown. Foolishly, we did not save for their college funds. We supported the lovely philosophy of, “We’ll figure out when we get there.” Well, we got there and didn’t figure it out. (By the way? This is not a wise philosophy.)
So, now, here we are, three grown children and up to our ears in student loans. We’ve been able to off pay two of the four loans one by one but it has been excruciatingly slow going.
When I started selling Amazon FBA in August 2013 and saw this really WAS going to work, I immediately recognized this as an extremely viable option of actually paying the loans off.
In the beginning I would put EVERYthing back into the business in some way or another; supplies, tools, inventory, education, just whatever I needed to help me be successful in Amazon FBA. I wanted to wait to begin paying on the loans to give my business sometime to grow. After all the bigger the company, the bigger the profit and the only way you can grow is by constantly reinvesting. Which is what I did.
I’ve been paying on the loans bit by bit over the past year. (Almost threw a party the time I was able to pay down $1,000!!) All the while I am constantly growing my business, growing my inventory, increasing the quantity and quality.
Now, as we sit on the precipice of the 2014 holiday season, I am EXTREMELY excited. Due to diligence and the constant building of my inventory all signs indicate that we will be able to pay off at least ONE FULL STUDENT LOAN the beginning of January 2015. (YES!!!!!)
My business is now almost to the point to where we should be able to have ALL the loans paid off by August 2015.
So, if things continue as they are now, we will be able to go from deep in deep to PAID IN FULL in just two years.
Now, that’s kinda awesome….don’t you think?
And it all started with just a hand full of books.
Okay… Have A Great Weekend and Happy Sourcing!
That’s my story… and I’m sticking to it…
Next week’s show…. When Why and How To Merchant Fulfill
Listen live to the show Fridays, 2pm ET at http://debraconrad.com/listen
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