TIE #067: How to Make $6,537 in Profit on Amazon in a Single Month (while hardly working)
The July 2024 Introvert Entrepreneur Amazon update
Your first step to escaping the rat race is making your first $1,000 online.
The best way to accomplish this as a beginner is with a simple Amazon business where you sell other people’s products.
It worked for me 10 years ago and it’s what I would do if I had to start over from scratch today.
You can attempt to figure that out on your own or you can become a paid subscriber and get free access to my private mentorship group on Discord:
Upon joining, you will get full access to all my premium guides and content.
Choice is yours.
I have been documenting how much profit my personal Amazon business makes in this newsletter for over 3 and a half years now.
While running this type of business was never a dream of mine, it is what laid the foundation for me to live a lifestyle full of freedom and fulfillment.
In early 2024, an Amazon business is still the best option if you want to accomplish something similar and have no business experience.
This post is #43 of this series, you can read post #42 here:
My Amazon business has three branches:
Branch 1: Non-fiction book arbitrage (read here if you do not know what this is)
Branch 2: LEGO investment sales (read here if you do not know what this is)
Branch 3: Any and all other online arbitrage
Depending on the time of year, they all rise and fall independently from each other.
It is not your average Amazon business.
I target the highest profit margin possible while aiming to work as little as possible.
This often means buying products and waiting a while before selling them.
The game I play is efficiency, I do not play “number go up” simulator.
Let’s take a look at how we did in July:
Total Sales: $22,457.57
Items Sold: 241
Cost of Goods + Fees: $15,920.12
Total Profit: $6,537.45
Hours Worked: ~6-8
Average Profit Per Item: $27.13
Total Profit for 2024: $47,356.45
It is no surprise to see the business tick up as we head towards back to school season at full speed.
I’ll be honest though, it felt like I didn’t do any work at all this month with Amazon.
This is all just a result of the little bit of extra work I did last month.
Like always, we:
Sold some books
Took a tiny amount of LEGO profit
Did a little bit of Amazon to Amazon arbitrage
It was a combined effort.
Here’s an example of something that surfaced and was clearly a great buy at $17/each:
Selling them at $59/each meant a return on investment of ~150%.
Then of course one of your run of the mill book flips, I bought a ton of these for $50 and they are selling like candy:
When it comes to which LEGO I sold, you’ll have to stick around for the next LEGO portfolio update in about a week.
Here is the last one if you haven’t read it yet:
Like I mentioned last month, August will be a dramatic increase in sales volume which means a giant increase in profit.
I spent multiple five figures on books this year like I always do, so it should be another fun ride.
A business like this doesn’t operate this seamlessly from day one.
It takes a considerable amount of time learning how things work (like all things worth doing).
However, once you get to this point, it is a beautiful cash generating machine that you can use to:
Reinvest and continue to grow
Eliminate debt
Work less at your day job and/or quit your day job (like I did)
Much, much more
Take this fellow newsletter subscriber for example:
This business model works because it is taking advantage of marketplace inefficiencies and extreme customer laziness/impatience.
You can sit around and watch me make all this money or you can do what it takes to make some yourself.
That choice is yours and I can’t make it for you.
When you are ready, there is one way I can help you.
Join 600+ people in becoming a paid subscriber to this newsletter:
By paying the $39/month or $349/year rate, you get FREE access to:
My private mentorship group for Amazon business owners (this used to be $329)
My LEGO Investing Mastery Guide (this used to be $169)
My Textbook Flipping Mastery Guide (this used to be $169)
Buy/Sell alerts for LEGO (these will make you money)
Jarek, some of my lego sets are up over 50% heading into q4. I've been tempted to sell them, but going to wait for Christmas. How much of a pop do you typically see on retired sets in Q4?
Was the spray gun an Amazon to Amazon flip or did you source it somewhere else?