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Should You Get A Loan To Start Amazon FBA Business? - YouTube
Channel: InternetBizUni
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hello James Greaney here from Internetbizuni.com and in today's video I
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will be answering the question should
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you get alone to start your first Amazon
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FBA business or whatever business it is
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that you are considering getting alone
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to started with so this is a question
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that I often hear debated in many
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different circles that I mean and you
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know there is contrasting views on this
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a lot of people think that you should go
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out there if you don't have the money to
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start your own business and even if you
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do have the money to start your own
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business and leverage the use of
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borrowed money to start your business
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width so that you're not tying up your
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own capital from the start and then
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there are others that will simply tell
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you no under no circumstance will I ever
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get a loan for my business no matter
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what I'm only gonna spend the money that
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I take in and I'm only willing to risk
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the upfront capital that I have myself
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to put into this business from the start
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and then I'm not even considering taking
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a loan to start my first business so I'm
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gonna take into account both of these
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arguments because both of these have
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valid arguments for the claims I'm gonna
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give you my response and what I think
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you should do if you are currently in
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this situation if you want to get
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started if you want to start your own
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branded province but you don't have the
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money to do that you want to you know
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jump in now while Amazon FBA is still
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going strong this is the time you want
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to start but you don't have the money
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dude
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let me give you my viewpoint on what I
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think you should do and why I think you
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should do it that way so I haven't put
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out a video in a while of the meanin to
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do this video amongst you know tens of
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other videos that I've wanted to put out
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but I just haven't had a chance to put
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them out lately I've been really busy
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with my own projects as you probably
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know if you follow me on Facebook if
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you're in there the Facebook group the
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internet bids unique brand owners help
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group I have the post and in there but
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I've just been too busy to actually sit
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down a chill video like this one but I
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hopefully will get back on track with
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these videos now that I have some of my
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projects under better control than I
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actually had already and one of those is
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because this is a question that I often
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get asked is to do an accountancy and to
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attach for Amazon
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and e-commerce business owners so what I
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have the worth note is under speaking
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with an accountant and hopefully I get
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the accountant to come on this channel
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and we'll shoot video together asking a
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lot of the different questions that you
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have in regards to accountancy and it
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regards to paying tax whether you're
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selling in the UK US or Europe for your
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own e-commerce business I'm hopefully
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going to get the account at all so that
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she can answer the questions for you
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that deal is nearly done and hopefully
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she will be on shortly because as you
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know I know an accountant and I don't
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want to play an accountant but I know
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this is one of the most frequently asked
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einde of topics that you often ask and
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often have questions about I can't give
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you all the answers of all day so I have
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to get a tax expert on board to answer
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these questions and to share some of
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their knowledge with you and I have an
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email signup so that you can sign up so
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that you won't miss our video so
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whatever that video does go up I will
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email you as well as this if we create
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any other future content in around
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accountancy or tax
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subject because this is nearly a totally
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separate subject to the general
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ecommerce subjects that we cover here
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then I will email you about that so I
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will leave that link below in the
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description and you can sign up there I
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will email you whenever we have any
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videos in relation to that or anything
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else to do with that topic of
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accountancy for e-commerce business
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owners okay so back to today's video and
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won't waste any more time I just want to
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jump straight into it should you go out
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there and get a loan should you borrow
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money to start your first Amazon FBA
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business or an e-commerce business that
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you plan to get started with so my
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straight off answer to this is no and
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I'm gonna give you the two main points
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that I have behind this answer okay so
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say for an example if you were an
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experienced business person you had set
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up different businesses in the past and
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made a success these businesses then I
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would not be giving you this answer then
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it's okay to borrow money to create a
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totally new business from the start but
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if you do not have this experience if
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you have not created any successful
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businesses in the past then no is the
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answer you should knock while there and
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borrow money to start
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business now I'm going to give you the
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answers why you should not do this and
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the first reason for that is because you
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have not learned valuable lessons yet
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there are lots of different lessons that
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you have to learn no matter what
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business you start but definitely with
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e-commerce e-commerce is such a new
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industry and there is a lot of
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information out there but there is a lot
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of different lessons that you actually
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have to learn from doing it turns out
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and if you talk to anyone who has done
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Amazon FBA who has imported products
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from China sold them whether they're
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selling them on their own website or
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through Amazon then they will tell you
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that the amount they learned from
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creating the first shipment and
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importing the first set of products is
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priceless you know no matter what
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courses you take no matter what videos
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you watch on YouTube you will not learn
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near as much as actually going out there
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and important your first set of products
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and selling them online just going
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through this process alone you are going
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to learn so much so yes I do believe as
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you know if you've watched a lot of my
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videos that good courses are a great way
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to learn to step-by-step process so that
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you actually know the steps when you're
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doing it you can watch someone else
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doing it on a video and just copy the
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stats as you go along this is an easy
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way to learn it if you haven't already
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taught these steps in the past so yes
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courses are great but you cannot be
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first-hand experience actually going
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through and actually doing it whether
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you are following the steps of the
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course or actually just figuring them
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out as you go along
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whichever way you decide to do it
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actually go through the entire process
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from start to finish from talking to
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your manufacturer from getting your
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products made from getting your product
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sent over to you whether you're in the
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UK Europe or the u.s. put them up for
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sale creating your listing getting your
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images getting them launched and then
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getting them seven organically well this
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entire process once you do it once you
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will know so much about it you will know
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exactly how to just rinse and repeat
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this entire strategy for your next
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product and your next product after that
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and yes things are always changing so
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you're always going to have to slightly
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change things about whether you're
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changing about your large strategy
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whether you're changing about the
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to a part that you do know with once you
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have a don't want you will know the
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actual basics you will know what you
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have to do when you have to do is yeah
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and then you can start to tweet things
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about but before you have it done so
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you're just totally new to this if
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watched a few videos you want to get
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stuck in you don't have the money to do
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it then what can you do well then you
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simply stabbed at spawn as you possibly
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can so what I always say is if you want
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to get started with Amazon FBA the best
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way to do is is with online arbitrage if
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you don't even have time to go out to
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sharp sorcerer that's simply looking for
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products online that you can flip on
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Amazon for a profit you can even do this
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by purchasing products off Amazon
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selling them back on Amazon purchasing
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products off eBay selling them on Amazon
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purchasing products from wholesalers if
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you want to start building relationships
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with wholesalers purchasing products
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from deal sites there are so many
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different places online that you can
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purchase products as well as offline if
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you actually have the time to go into
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your local shops and actually source
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products go around with your Amazon
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scanner that you get when you first sign
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up for Amazon seller central and you can
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start selling on Amazon for free bitly
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you can go onto Amazon
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set up as a seller for free today you
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have to fill out a bit of information
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about yourself
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give them your bank account few details
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like that but you won't actually get
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charged until you start selling you can
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continue to sell for free as long as you
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don't sell more than I think it's 40
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units per month and after that then you
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have to register as a professional
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seller but if you have no money that
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this is the best way to do because what
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you're going to be doing you're going to
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be learning the lessons yes you're not
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going to be learning the big lessons
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about important you're not going to be
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learning all of the lessons about
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selecting your first private-label
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products and finding ways to make your
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private label property unique you're not
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gonna be working out these lessons from
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the start but you're gonna be learning
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some of the basic lessons like how
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Amazon FBA works
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you're gonna be learning all about
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Amazon as an actual company and what
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it's like to deal with them and again
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this is the same thing if you're set on
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your own website and you want to simply
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sell Forex alpha just start by doing the
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smallest action whether
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just simply setting up a website and you
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know source and products locally and
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trying to sell them on Facebook
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marketplace you know whatever it is you
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want to do start as small as possible so
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that you've start learning the lessons
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because if you simply go out there just
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get a loan and jump straight into
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private labor without learning any of
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these lessons then you're gonna have to
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learn them from certain your own
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business you're gonna have to learn them
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the actual hard way and you're going to
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be sending in maybe five hundred
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thousand units of product of your own
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branded product without ever sending any
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parts before so that's why I say to
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start with online retailer impression is
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a great low-cost way to get started
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learning the lessons without having to
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spend a lot of money up front and you
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can always switch over and start finding
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your own product start your own twist on
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products making them unique create your
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own versions of products that are
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already sell alone put your own brand on
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them creating your actual own brand
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around these products later down the
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line
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after you have learned these lessons and
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you have made some money from retail and
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online arbitrage because this is the
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slow process of building or not but this
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is the process that I taught this is how
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I start to women so that is why it's my
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advice to you that this is a great way
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to actually get started without needing
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to go out and maybe get a couple of
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thousand of a loan to get started you
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can do this from you know minimum cost
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all you need is a hundred dollars on a
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hundred pound to get started to do this
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because you're not paying all of the
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fees that you will be paying if you are
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actually going out creating your own
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branded products from the start the
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second reason why you shouldn't just go
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out and get a loan when I'm talking
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about a loan I'm talking about a loan
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from either the bank if you can get it
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from the bank or from someone you know
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wherever you are getting along the
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second reason why I don't think you
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should do this when you're starting your
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first business is because this puts an
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awful lot of pressure on you to make it
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work and you might be saying you know no
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matter what money I'm using whether I'm
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using my own money of course I'm gonna
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want to make it work and of course
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that's correct you are gonna want to
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make it work when you've someone else's
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money when you're someone else breathing
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down your neck looking for the money
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back you don't need this pressure when
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you're actually trying to get start and
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try to learn all of the lessons that you
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need to learn and actually make your
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business its success you need to have
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full focus on your path ahead and what
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you're doing makes you don't need to be
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dealing with whether it's a bank whether
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it's other people looking for the money
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and expecting their money back shortly
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after they give it to you you want to be
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able to go out there and learn the
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lessons in your own time go out there
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and find the products that you are proud
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to sell you don't want to have to go and
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rot into a product simply because you
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have the money waiting to get started
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and you need to start paying that money
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quickly you don't need that pressure
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when you're starting your own branded
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products because that pressure will not
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help you to build a long-term business
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it will actually do the opposite it'll
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start getting you thinking in short-term
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how am I gonna pay them back this much
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this month you're gonna have to start
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making these really short-term decisions
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in regards to making the payments back
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to whoever you have borrowed the money
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from and you can not think you know a
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year down the line well I'll just leave
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it a year I won't take anything out for
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a year I've keep rebuilding out buying
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more in new trader spend more an
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advertiser
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I'd gather more customers for my brand
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you will not be able to think like this
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because you would have to hit these
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short-term financial repayments that you
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actually have to hit you know to repay
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whoever it is that you're borrowing the
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money from and the third reason why I
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would not suggest that you go out there
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and get a loan to start a first business
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is because it's the fulfillment that you
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get a feeling of fulfillment that you
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get from creating your own business from
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scratch is the best feeling that no one
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can ever take away from it like it's
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just as difficult to start if you're
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starting with your own money or someone
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else's money but the feeling of
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fulfillment that you get if you have
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putted every penny into your business
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you have done it this is the feeling
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that we are all looking for its
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fulfillment and you can't get that
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feeling by sort of cheating the system I
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know you're not cheating the system if
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you get along because you're gonna have
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to repeat that loan I don't know maybe
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it's just me on this one but the feeling
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of fulfillment that I get from knowing
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that I actually started this from
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scratch that I made money by flipping
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products from eBay to Gumtree you know
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that's where I started one of my first
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products was flipping from
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longtree back on gumtree then from ebay
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to gum tree then from ebay to amazon i
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can remember
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each of these products that i flipped
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from site to site to make the money that
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i needed to start my own brand new
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products but for some of you you might
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not enjoy doing that I actually enjoy
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doing that while I was doing a job that
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was like my pastime in the evenings any
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hour I had I spend and looking for
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products that I could flip somewhere
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else for a profit I really enjoyed doing
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that maybe you don't
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both wherever it is that you get money
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from you're working for that money
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so you put that money in to your
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business and that is the money that
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you're going to start with and that is
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where you get the feeling is when you
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look back in a few years time after
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you've gone through all the process
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after you have set it up after you have
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your successful brand the products sell
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well and you look back and you know that
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you worked then extra hours are you done
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that extra thing to make that additional
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money that you needed to do to start
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your business because we all have builds
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we all have expenses that we need you
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know to live our lives with just
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day-to-day basic expenses so to make the
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additional money you're going to have to
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do additional activities and whether
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that's flipping products on the side or
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just working extra hours at the job
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you're doing it's gonna take something
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extra or it's gonna take you giving up
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something that you already spend money
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on whether you you know go out three
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nights a week and you're gonna cut that
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back so that you can save up for this
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it's going to take some sacrifice for
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you to start your own successful
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business and if you go out there and
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just get a loan to start without having
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this basic knowledge in place but I've
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ever haven't done it before
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then you're gonna miss out on this
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feeling of looking back saying I put in
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that work to get to where I am I know I
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took each and every step and it makes no
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difference what anyone else ever tells
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you you know it's a feeling that only
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you can get for yourself by simply
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looking back no one the sacrifice that
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you put in to get the outcome and again
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it's all down to fulfillment it's the
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same thing it's like whether you go out
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and you win the lotto or you actually go
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out and you work and you earn that money
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the money that you actually go out work
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for and turn is going to feel a lot
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better the feeling you're going
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from whatever you bother with that money
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is gonna be a lot better than if you
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simply go out buy a lotto ticket win the
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lotto
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I had then spent the money on something
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you're gonna look at that care and say
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it's a nice car or a nice house or
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whatever it is you buy with it but if
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you actually earn that money you're
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gonna look at that and it's going to
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give you the memories of what you
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actually done to make that happen and
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that is the main reason for us is the
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feeling of fulfillment that you get from
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building your business from scratch
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every step of the way and if you want to
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speed up the process later down the line
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then sure go ahead
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get along there's nothing wrong it's
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actually the right thing to do is to
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leverage other people's money if you can
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make more money on top of the money they
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gave you making their money paid more
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money that's great way to do it but what
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I'm talking about is if it's your first
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business then you should definitely get
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started by just getting started and
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learning the lessons and not by getting
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yourself into debt from the start so
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that's my thoughts on it I don't wanted
[983]
to shoot this video for a while because
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you know I try to explain this every now
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and then but it's difficult to explain
[988]
if you're just typing a message back to
[990]
someone or you know you're just not
[992]
talking kind of face to face so I wanted
[994]
to get my cars on this and I'm sure you
[996]
have thoughts on it so if you do please
[998]
leave it below in the comments or if you
[1000]
simply like this video or dislike this
[1002]
video again leave it below in the
[1003]
comments let me know what you think and
[1005]
if you haven't already done so please
[1007]
hit the subscribe button and the little
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bear beside it so that you will get
[1011]
notified when I make more videos like
[1013]
this in the future and I do mean to get
[1015]
around to making more consist of videos
[1017]
like this in the future now that I have
[1019]
other projects that I was working on
[1021]
under better control but yeah for today
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I hope that you have enjoyed this video
[1024]
and I look forward to speaking to you on
[1026]
the next one by the way the unique
[1028]
private-label course is actually still
[1030]
open so if you do want to step-by-step
[1033]
course teaching you how to create your
[1036]
own branded products etc then you can
[1038]
check out the link in the description
[1040]
below just click on it and you will see
[1041]
what videos you get when you sign up
[1043]
today but yeah for now I hope they have
[1045]
enjoyed this video look forward to
[1047]
speaking German x1 right
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