Today on The Wealth Secrets Podcast, Sean Adams talks to Neil Twa, who is the founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private label e-commerce businesses since 2012. As of date, he has sold over $100 million in physical products primarily through the Amazon FBA sales channel. Neil shares his blueprint for how to build an online business that can generate a passive six-figure income in just 12 months.
[03:03] Getting to know Neil Twa
[06:37] Why build brands on Amazon?
[10:56] Fulfillment by Amazon
[14:45] Criteria for physical products
[19:20] Sourcing and manufacturing of goods
[23:33] White label VS private label products
[25:36] “Found money” on Amazon
[28:41] Voltage Business Builders
[33:25] Pay as you profit model
[39:11] Voltage Management Services
[44:34] Opportunities and the future of e-commerce
Neil’s interest in building e-commerce private label businesses started in 2010. At that same time, Amazon was an up-and-coming platform that showed a lot of promise. He realized that Amazon was a giant search engine for products, with lots of consumers using it as their go-to shopping website. The platform attracted a lot of organic traffic and product listings were easily visible. Neil and his partner Reed Larson, found a lot of success in building businesses with brands on Amazon. His company, Voltage Digital Marketing, grows brands with or even for sellers.
The success of an e-commerce-based business will depend on its product. A product must provide unique value to the buyer. The ideal consumer is someone who is solution-oriented, rather than someone who is just looking for the cheapest option. For these reasons, the optimal products to sell are usually high-end goods that customers are passionate about. Another criterion is that products must have at least a 40% profit margin.
Aside from the ease of marketing, Amazon also smoothens a business’ operations through its Fulfilment by Amazon (FBA) program. From storage, delivery, to customer service, the FBA program handles all the logistical concerns for the seller. Business owners have more time and energy to get to know their customers. Revenue can be doubled if you have a good understanding of your target market.
Links and Resources:
Neil’s Mobile: 4174134209
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