In a survey of 5,000 Amazon sellers, 19% made more than $1M and 58% of those hit millionaire status in less than 5 years.
Everyone has their reasons for starting a small business. It’s usually ”I want to be my own boss” or “I love having flexible hours.”
I bet if we got all those people drunk, the truth would come out: they all want to be millionaires.
And I can’t blame them. I would love to get rich too! But like…how?
Apparently it’s not as impossible as it seems. In a recent survey of 5,000 Amazon sellers, Jungle Scout found that 19% made more than $1M. And the best part is Jungle Scout picked their brains to get to that “how” (and they didn’t even have to get them drunk!).
Turns out most of those sellers have the time to actually run their business. So stop spreading yourself too thin, and maybe even quit your day job if you haven’t already.
Think long term. You can earn millionaire status in less than 5 years – but you definitely can’t overnight. Most small businesses are often not even profitable until year two or three.
What are you waiting for? If you have an idea, then it’s time to get moving. Most Amazon sellers wish they had started sooner.
There are lots of business models and all of them can work, but most millionaires follow the private label model. And when I say “most” I mean like 81%. I may not be the best at math, but I know a high percentage when I see one.
Earlier I said that getting rich would be sweet…and we can help each other get there. Use any and all available resources you can get your little FBA hands on, like freelancers, funding support, or even Amazon itself.
And there you have it. Now who wants to be a millionaire? Probably you, so get to work.
