Patrick Kinkade 0:08
Hello, Amazon sellers. It's Patrick. And I want to let you in on a little secret before we get started in today's episode, and really, it's not such a little secret because it feels really big and exciting. And it's not really a secret to my wife, because to be honest, she's heard way too much about it in recent months. But for the rest of you, this is a secret announcement. Today, I'm just going to give you the details. So I know some of you are going to be very excited. Because based on the number of emails and questions and messages I've been getting, begging for this type of learning, and I just haven't given it to you. I'm sorry. But now I'm ready. I have a plan. And I cannot wait to tell you wouldn't pull over, turn off the car, stop smoking, cooking dinner, grab that, post it from your desk, whatever you need to do, grab a pen and write this down. Scribble little note called Patrick's new program, Amazon selling masters. It's launching March 19. And then make sure you put a little asterix by it that right that March 23 to march 25, the promotion for founding members will be going on and you won't want to miss it. What that means is I created a program for you, just for you guys, I can't wait for you to be there. Because of that I also created a special bonus and a gift for you. And that's you can get that when you sign up in the first couple of days and the program is open. If you want more information, if you can't wait to join, if you're curious, whatever it is, come join the waitlist. This is very important. That way you will not miss that up for that promotional period. Okay? Because listen, if you email me a couple of days later and say you missed it, I'm gonna say here's the link, you can still buy the program, not for the promotional price. Alright, so get on the waitlist it find me on masterprivatelabel.com Just click on the link at the top register for the free training event as your email and you'll be added or I will also link up an option in the show notes. So you can go to my website and click on that show notes and there'll be an option there to join the waitlist. I can't wait to see you there that's all I'm gonna say for now. Let's dive into today's episode
Unknown Speaker 2:53
Hey my Amazon selling peeps it's Patrick Kinkade from Master private label.
Patrick Kinkade 2:58
I welcome you to the program, the match private label podcast we bring to you. You know tips, tricks, checklists, some awesome lessons on selling on Amazon, especially if you're just getting your brand going. And you're in the private label space. That's what we're here for. So the entrepreneurial podcast is what you're listening to. If you were looking for something else, then you know you're in the wrong place. So today we're going to explore a topic that we cover a lot around here, product research, but rather than assuming we should do all the research ourselves, let's learn from our guest, a professional project product researcher who has helped so many sellers make to break into the Amazon selling game at a record pace from profitable product. It's Kyle Anderson. Hey.
Unknown Speaker 3:45
Hey, Patrick. Thanks for having me on. I'm happy to be here.
Patrick Kinkade 3:49
Awesome, man. I'm glad to have you here as well. As for our listeners out there calm I've been working together for a little while now since oh, maybe almost a year ago. And it's been a pleasure. And I just I'm really happy to have have you on the program today. Before we get too deep into it, I wanted to tell our listeners that they can leverage Kyle's company for help finding their next product idea by visiting product, profitable product.com And I'm going to post in the show notes a special deal for our MPL podcast listeners for which Kyle has so graciously offered us for $100 off any of his services. So be checking the show notes for that link. Get you a special deal and then please join us on our next episode when we explore three ways to avoid information overload. Alright, so now your company file has been providing proper product ideas to your Amazon Seller clients for how many years now?
Unknown Speaker 4:49
So it's the business has been around since the end of 2018. And I actually ended up acquiring this business March of last year. So it's almost been a full year since I've been running it.
Patrick Kinkade 5:07
Fantastic. So the business was was going strong. When you got it so 2018. So we're about four years, huh?
Unknown Speaker 5:16
Yeah. Going on four years. Excellent. So
Patrick Kinkade 5:18
yeah. And I and I know that you, you acquired it and took over. And really, I mean, I've seen the improvements in the services offered. And you know, a lot of my a lot of my clients, my coaching clients who've come come to me from, from your neck of the woods, who have gotten products from you. So a lot of what we're going to talk about today, is, you know, Kyle's take on product research, because that's actually what he does all the time for a living. Right, so. So good stuff. Alright, so a quick question, I'm going to start us out. So do you like to have your peeps, then when you're giving them product ideas? Are you more focused on just giving them a product idea that they can, you know, just go off and sell and then come back to you for another product idea? Or is it more focused than that?
Unknown Speaker 6:13
So when when I acquired the business, it was more about just finding a product. And, and kind of a volume game, but but we want to help clients more with not only finding products that sell well, that have great opportunity moving forward on Amazon, but have potential to build a brand and really grow into something and not just sell stuff from China, but actually solve problems and create a real business with with real assets that you can sell down the road.
Patrick Kinkade 6:57
Right, right. So not just selling junk, not just selling any old plastic item.
Unknown Speaker 7:01
Yeah, exactly. Yeah, we want to help help figure out how to solve a problem and not just sell stuff.
Patrick Kinkade 7:09
Yeah. And as I've been teaching my clients for years and years, one thing I'd started out early on myself was, you know, retail arbitrage and so I was just trying to get to know the FBA system. And I was literally selling one off items, you know, I would send in a box of 75 different things to Amazon FBA. And, and I quickly figured out that there is a better way to go, there's got to be a way to sell them, you know, more to my customer, rather than just to all the customers, you know, so I, you know, it sounds like you've really kind of honed in what you guys do, to bring that whole idea of a niche into into focus as opposed to just, you know, providing all the niches what they want.
Unknown Speaker 7:58
Yeah, no, I actually started the same place as you and I, I started my Amazon journey about six or seven years ago selling retail arbitrage, and some wholesale. So I'd go to Walmart, I'd go to Sam's Club, I'd go to Sportsman's warehouse when it was going out of business, my wife and I spent hours in there just loading up our cart to sell stuff on Amazon. So it was fun. And I really loved the you know, just finding products that were going to make money on Amazon. But the longer I did that, the more you just get burnout, like it's a constant battle of finding more stuff to sell, and competing against everybody else to sell on the same thing. And then once I figured out private label and kind of how much more of a blue ocean it is, that really opened up new doors for me.
Patrick Kinkade 8:52
Yeah, fantastic. So I like to wait. So seven years, we started about the same time selling private label, it sounds like Yeah, and so we've learned the same things. I mean, I I sold on eBay long before selling private label or even on you know, full time on Amazon. And only because my hobby used to be when I went back to school. Go into, you know, yard sales every Saturday morning. No. So I kind of like to shop and like to find deals. And so that's you know, the retail art was fun. But yeah, like you said, a lot of work. Lots of work. I mean, if you're good at finding a team to handle some of the things for me, especially like in the wholesale and then cool if that's your if that's your gig, awesome. I mean, I have a lot of clients come to me who, who have dabbled in wholesale and I even have some that do both, you know, wholesale and private label. So
Unknown Speaker 9:46
yeah, it's it's a great way to make money to if you find some good, strong relationships. I know plenty of people who've made lots and lots of money doing wholesale and retail arbitrage. So it's not there's not money there. But like you said, Do you need a good system, you need a good team in place to really scale it up to two, as big as most people like to go when they when they get into it.
Patrick Kinkade 10:10
Yeah, yeah. And of course, you're, you're lacking what private label gives you, which is being able to build that, that brand and stuff. Yeah, I get to build a brand. And I like to connecting to my customers, that's what's my favorite thing about private label is I really get to connect to a group of people who are, you know, all sharing the same interest in and I get to bring what they want me to them. So. So sounds like a, let's say, someone comes to profit product. And they're, you know, they're, they're talking with you and asking about, you know, maybe I'm gonna hire you find a product? Do you then just say, Okay, well pay us the $500, or whatever? And we'll find you your product? Or do you? Or do you kind of have a discussion with them about, you know, maybe focusing on more than one product?
Unknown Speaker 11:02
Yeah. So to begin with, we kind of get an idea of what categories are, what type of products that interests them, or what problems they've seen in products that they want to solve. And because we've all ordered products that weren't what we expect, or didn't solve the problem that we we originally started off with. So we we try to, to get them to focus and think about really, what what problems do I want to solve, who's my perfect customer, and then kind of build a product base around that, you know, you've got one that's kind of your main product, that's going to be your, your cash cow, but then focus on finding three, four others that can sell well, with it really, builds, builds a brand, instead of just selling a bunch of products, if they all have a theme and a goal, and a perfect customer you're focusing on it really speaks to people because people aren't buying stuff, they're buying solutions to their problems.
Patrick Kinkade 12:12
Right, right. Right. Right. Excellent. Yeah. And which goes hand in hand with what I you know, in all my trainings, and all my coaching programs, and that is, you know, why reinvent the wheel? Every few months, when you're launching a new product? I mean, it's just it's a lot, you know, a significant amount of work goes into getting a product off the ground, right?
Unknown Speaker 12:37
Yeah, that's huge, beginning with just the product research,
Patrick Kinkade 12:38
I mean, that's, that's a ton of work in itself. If, especially if you're just starting out, you really want to do that over and over and over again, because what's, you know, I found what's, like you're saying, if you, instead of selling the product, you sell the problem that people are having, you sell them the solution to it, and there's most likely, and I tell people all the time, you can find three to eight products, at least, winning product ideas in a winning niche. And those are all probably solving the problem that that niche has, right? Or we're giving them something that they really want to they're solving a problem or, or, you know, we we all either run from pain or gravitate towards pleasure. Right. So I think it's the same.
Unknown Speaker 13:24
Exactly, yeah, we're all wired. Basically the same. So yeah, it's really wanting to connect with people instead of just make money or or sell junk from China. Right.
Patrick Kinkade 13:37
Right. Yeah. There there is some gurus quote unquote, and one of the founding you know, private labelers on the on the planet, and one of the early guys who got out there a lot, you know, Greg Mercer from Jungle Scout. Yeah, I've seen him on a panel with you know, eight other gurus. He's the one guy that still swears you can just sell one off products, you know, but it's funny, I go to his you know, I watch his YouTube videos from his from his company in recent years, and he's got he's got new people doing the training for him and, and they, they actually teach a lot about finding a niche and developing a brand focusing on one type of customer, one customer group. So yeah, people out there making money not niching down but like Greg Mercer especially in his early days, I'm sure but uh, it for my two cents worth. I have found in my own selling and through the years with my clients as well that with you get it you get a brand going and you're really honed in on the customer. Then you can harness those customers with your second, your third and your fourth and your eighth product. You know, you can cross sell, and you don't have to, like I said, reinvent the wheel every time and go out and find a whole new car customer base and figure out what keywords they're going to be, you know, searching for and, and the whole thing that it all revolves around those people coming in searching for searching for something on Amazon and finding you, you know, if you can put yourself in front of the same people over and over and over again who are searching for, for something, it's gonna be a lot less work for, for you as the private label or so.
Unknown Speaker 15:21
Yeah, yeah. And that's, that's why I've really shifted focus to, to brand first. And, and before you really dig into too many products and start spreading your brainwaves too thin focus on what problem you want to solve, what person you want to help, and sometimes it's yourself he sometimes the easiest thing to think about is what products do I buy? And kind of what's what's the gap in the in the market? Where, where do I see that I could, I could fill that gap and, and how I can help people, instead of just being all data, we need to actually remember that we're we're talking to people that, you know, a product can really be an experience, you know, the way that it's packaged, the way that it is presented, you know, the the inserts that are in the in the the package, it all comes together to really not only make you stand out but but help build your brand and really speak to the people whose lives you want to help and who's who, who you can benefit the most.
Patrick Kinkade 16:41
Fantastic. I love it the customer experience. I like it. That's good stuff right there. Actually, if you heard my clacking way I was. I was noting that here on my on my keyboard. Okay, so it sounds like you are hinting towards differentiation sounds like to me?
Unknown Speaker 16:58
Yes. Yeah, that's, that's huge today, it like when we started six years ago, you could just do one off products and still be really successful. But today on Amazon, it's far too competitive to just find what's working for everybody else and sell the same exact thing. So you really need to dig in and focus on how can I improve it? How can I innovate on it? You know, look at your competitors, negative reviews. And that's kind of open the world and open the window to see. Okay, here's what people most people are facing what they don't like about it? What can be done to address it, how can I fix it? How can I make it stronger, make it better, make it lighter, you know, whatever the people are asking for, find a way to give the people what they want, but also put your your brand and your touch on it really will, you know, that's when price. You know, people don't love to buy on price they want to buy because they believe in the brand or because they they know the products can help them. So if you're if you're fighting the price battle, then that just means that you're not trying hard enough to actually solve the problem and truly help the the customer that you're shooting for.
Patrick Kinkade 18:20
Yeah, I like that you're not trying hard enough, because I heard a statistic years ago, and it still holds true because I've looked it up again recently. They say that 40 between 45 and 50% of the people who buy product from amazon.com make between 75 and $150,000 a year. So they're not looking for the cheapest thing, right? Right. So I you know, if you're if you're in a space where you're where the people around you the other sellers, the other, you know, your competitors are, are doing that price war thing, and they keep dropping the price and dropping their price. You know, don't go down that road, take it from experience do not go down that road. Because I mean I we walk all of our clients through at least three times before they pull the trigger on you know, sourcing a product, we walk them through running their numbers, and we want to make sure that this is going to work out for a profit at the end of the day. And you know, we kind of set a middle road price as to what we're going to be able to sell it for. We aim for being towards the top of the market and price, let's say you know everybody else is selling for, you know, between 14 and $19. Well, we want to be at that 19 or $20 spot eventually. But we source only those products that are there that will make it somewhere in the middle they're like at that 16 or $17 space. So if you're if you're running your numbers based on 16 or $17 and everybody else once you get in that space is running down 1211 10 Nine and you have the same point And then it's not differentiated, and not solving those problems specifically, then you're going to have to drop your price to write or you're not going to sell. Yeah, you hit the nail on the head there man with, you know, you got to solve that problem and make sure that you're definitely differentiating your product, not selling the same thing. anybody else's. So, fantastic. So let me ask you this, do you? Since you're, you know, focusing on product research for people to find products, is there some favorite places you'd like to look for ideas? Or you mean, are you strictly using data from you know, like, Helium 10 tools? Or, you know, is? Or is there is there some, some places outside of outside of the data hunting tools that you actually find product ideas.
Unknown Speaker 20:49
Um, yeah, we like to brainstorm a little with the, with the customer with the client. And then from there, we start to dig into the data. So once we have an idea on category, on kind of the niche they want to be in and the product they want to, or the the problem they want to solve, that's when we can really start hunting and start digging in the data, and making sure that the numbers match, you know, within what, what we're trying to what we're trying to find for the client. So, yeah, it's, it's a big piece. Um, but yeah, once once we do that, the data digging, we, we mostly focus on using like Viral Launch. And then we also use a little bit of Jungle Scout, just to use a couple sources of data just to make sure that it's, you know, the data is accurate, that it's showing us basically the similar type of numbers and looks good in the multiple different areas before we hand it over to the client.
Patrick Kinkade 21:54
That's great, that's, that's good people, you get that. Patrick, here, your host, he went to, you know, one of the top research universities on the planet, and that the big thing, when you're doing research, you need to confirm your sources, and validate them. And the best way to do that is to go to more than one right? To go out to two or three different places where they're kind of providing the same data, and compare them, you know, kind of find a, find a meaning point where they're all kind of coming together. If you get one, I know when we're when we're doing product research, if you if you're getting one, it's extreme to the you know, way to the to the low end, let's say on the the number of sales per month, and then you get the on the other side that's really high, you know, it kind of makes you scratch your head, you got to, you got to really dig deeper into that to make sure that this idea is, is a is a good one. And I found that I'm sure you do, too, Kyle, that taken taken a break for, you know, a week or so and coming back to it and looking at the data again, or looking back in time, we use the helium 10 tool suite in the in the X ray. The X ray Chrome extension allows us to right there on the right there on the on the data as we're looking at a market on on the Amazon search, you can click right on it. And you can see the sales history and the BSR history. And it's you know, so you can see what's actually happened over time and not just in this one snapshot of a moment. So
Unknown Speaker 23:22
yeah, no, that's, that's a big piece for sure. And, yeah, you want to you want to verify the data, you don't want to just trust one source and go with it. And especially with how fast things change on Amazon, you need to really make sure you're finding something that that has some longevity to it, not something that's just, you know, a fly by night product that's going to be gone in a few months.
Patrick Kinkade 23:47
BINGO, BINGO. Fantastic. So so looking, you know, in more than one place for for ideas, and that's something we do a lot. If my listeners want if you can go to match your private label comm forward slash Quickstart, you will find one of my favorite guides that I have created. And that that's, you know, it tells you all about five secret hidden places to find profitable product ideas. And I've I've got more training on that and a whole lot more places to look. But that's a quick little place to start if you're if you really want to know about you know, where can I go to find ideas and, and find data is one thing and Kyle really alluded to the Viral Launch Viral Launch and Jungle Scout and we use helium 10 For the most part, I test all three of those services out every every year prefers services as they are and for my two cents. I can't have all my clients and myself by all three of them every month. Because it's just you know, you're trying to try to bootstrap it, you got to cut some costs, right? So we I've picked Helium 10 Over the last few years they've, they've been winning, but certainly, certainly there's a lot of them out there that do a great job like Jungle Scout and Viral Launch that they provide the data. So, so many places to look for ideas and places to get data as well. So Excellent. Well, man, our listeners are getting a hefty amount of good nuggets today. I'll tell you that. Okay, so in order to help our listeners get as much as they can out of the episode, can you tell us the most important thing they should focus on or do when it comes to their Amazon business and especially, pertaining to product research.
Unknown Speaker 25:36
The most important thing is to really be solving a problem and go after you know, your your perfect avatar or your your target customer. And really speak to them with with your marketing, speak to them in your listing, speak to them, and show them how you can solve their problem. There's actually a cool story I just heard. Yesterday, I'm in a kind of a mastermind group with some 789 figure Amazon sellers. And one guy was telling about the story about the brand that he had sold in the last year or two. And he talked about how he was connecting with his clients, or with his customers, he was, um, he would actually put the insert, but he would stick it on the bottle. And so what he was doing was a certain percentage of each sale. They were selling pet products. It was shampoo, I think was the main product shampoo for dogs. That was actually, you know, good for him didn't have any of the toxic chemicals and stuff in it. But it was a certain percentage of each sale goes to treating a certain pet or a certain dog that has cancer. So they were seeing how their purchase was helping other other pet owners, other pets continue to live and have better lives because of that product. So in order to qualify, they actually had to post a picture of them and their dog. And then they would donate to a specific, you know, each month that was a specific dog that needed cancer treatment. And so yeah, and they got, they got a ton of engagement. And it got, you know, it really, once you start to see people sharing stuff on Facebook and Instagram, things can really take off. So he used he is that to really build his brand, and build that. That customer base of hey, I love my pets, like they're my own kids. And I want to help other people who have, you know, dogs as well. And I want to help their dogs live a happy healthy life. So, so it was really kind of pulling at the heartstrings of his perfect customers. But it was also doing good and helping people at the same time. So I thought that was a really neat, neat way to to use his brand to better the world, but also better help his clients and give them a better product in the long run too.
Patrick Kinkade 28:48
Yeah, yeah. Fantastic story. For sure, and it's that it's that whole connecting with your customer. I I tell this in my trainings and and in my coaching calls that Jeff Bezos you know, he stepped down from being so involved in amazon.com. But in the you know, the first 20 years of, of its existence, they when they were in their board meetings, they always held them there was a seat that was empty right up next to Jeff at the table. And it was always it was always there for the customer. That was where the customer was sitting. Right. That's how Amazon that's their number one. Number one primary focus has always been the customer. And so if you can take your lead from the biggest retailer on the planet
Unknown Speaker 29:40
and just focus on that customer and listen to Kyle what he just said and and listen to the example he just gave you will be all the further ahead. So that is awesome advice. Awesome. focus point for anybody. So thank you for that. I appreciate it.
Patrick Kinkade 29:57
tell a quick story to kind of I was watching there for a second if it was, I had a client for years and she in the pet space, and she recently sold her pet brand kept her other brand sold her pet brand for 3 million. And still has her second brand. Right. So, but I was listening for a second is I wonder if it's if it's if it's her and her husband, and when you told me what the, because I know, I did some A plus content for her over the years and I know what her what her charitable pet organization that she that she donates to, and she puts it in her interesting, it's in everything they do. I wasn't until you said what the actual cause was that I knew Oh, no, it's not her but someone doing the, you know, the exact same thing really bringing their own personal, their own, you know, personal emotion to it. And as we all know, the well maybe we don't all know, but a lot of people buy you know, we we buy usually based on emotion first and then we and then we justify it with the with a rational thought, but it's the emotion that that gets us to kind of sink our teeth into it first. So awesome stuff, Kyle, appreciate it, man. Really, really and I thank you for being here with us today. You got anything last minute for peeps, or,
Unknown Speaker 31:17
um, yeah, maybe just one last thought. You know, a lot of us are building businesses. That, that we want to be sellable assets, or we want to be something that's valuable down the road to our family and our kids too. And in the best way that I know how to build a brand and a sellable asset is by focusing on the perfect customer avatar, and really solving problems and helping people and not just selling stuff. So that's that's kind of my last thought is that right now, e commerce businesses have never been valued higher than they are right now a lot of them are selling for three to 5x profit margins. So there's, there's a lot of money to be made, you know, after you've built your brand, and really, you know, built out that product line to help your client or to help your customer that when you are ready to step, step away and let somebody else grow it. That's, that's a great way to build, build some wealth and. And then like you said, your, your, your, your client have. So they they're able to keep their other brands still. So it's not like you sell your business on Amazon and you can't start another business you can you can be running multiple at the same time. So yeah, I was always like to see the end from the beginning. And for me, a lot of the times being able to see I'm building something that that's going to help somebody else that somebody else is going to want to buy and there's a ton of value in it gets me excited to keep working and to keep growing it. And then then you can just rinse and repeat and grow another business in another niche that you want to sell to. So it's it's it's fun to see once you start to get momentum once you start to see sales. Once you really start to see the the positive reviews and the way you're changing people's lives, it really, really gets addicting and gets fun.
Patrick Kinkade 33:35
Excellent. I could not think of a better way to end a podcast interview than what you just said. Great stuff cloud. Great stuff. And might I just add that I, you you you interject a lot of mindset into into what you're talking about as far as selling on Amazon, it sounds like we may have to have you back on a future show to talk about business mindset because it sounds like you've cut your finger on the pulse of it, man. So maybe we'll talk after the show about that. In the meanwhile, thank you so much for being here with us today. Kyle, we really appreciate it. Our listeners are certainly appreciative of it. Yeah, yeah. I
Unknown Speaker 34:13
knew they'd be appreciated. Yes, yes. Thank you. Yeah, I've loved being on here. Thank you, Patrick. I've enjoyed it.
Patrick Kinkade 34:25
Again, thanks for Kyle profit proc being here today with us. If again, if you want to leverage pals company for help finding your next product idea you can visit profitable product.com that's profitableproduct.com and I will post in the show notes a special deal that Kyle is sharing with our MPL podcast listeners. He's going to give us 100 bucks off on any one of his levels of service there. And again, join us on our next episode when we will explore three ways to avoid information overload. We appreciate you Kyle and are certain that your being here will help our listeners and then and their families, you know, move onward and upward. Thanks a lot, folks. We'll see you.
Unknown Speaker 35:03
Thanks, Patrick.
Patrick Kinkade 35:11
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