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If something is low rank, then it is selling more frequently which assures me that I can turn my money faster.
I sent them in the first time because I had faith in the Harley Davidson brand and that I would ultimately sell my comforters. Sometimes the problem I see with a seller’s inventory is that there is too much risk in the mix.
Acceptable risks means setting limits on yourself – keeping within your budget, not overextending, scanning patiently until you DO find that great deal, not putting all your inventory dollars for the month into one purchase. Lastly, if you have ever gotten into financial difficulties in the past because of gambling or compulsive shopping – this business is not for you. I personally advocate spreading the risk in the beginning which is why I like books and inexpensive items mixed in with other inventory.
Or they may think “I’ve got to make BIG MONEY, right now!” I call this the Wheel of Fortune school of thought.
When I buy something, I fully expect to sell it for a price such that I will double my money – at a minimum. I get lots of questions about the exceptions to this rule like “what if it is selling fast? The fact of the matter is Amazon will lose stuff, customers will return stuff and lie about why, sometimes your great deal will be torpedoed because Amazon will drop its prices to dizzying lows, other sellers will race to the bottom and have zillions of units to sell before you can sell yours or you will be forced to lower your prices and take a smaller margin.
When someone tells me they are scanning a lot and not finding anything, I ask them what they mean by “a lot” and frankly it usually isn’t. You need to scan, repeat, scan, repeat, scan, repeat, scan, repeat until you are in this lovely Zen state called Flow where you are 100% personally efficient and effective…where you feel calm and fulfilled at your task. When I go to a store now, there are whole categories and types of products I avoid there because I already know they are unlikely to bear fruit for me. With changes at Amazon, our scanners now are showing us the most competitive offers according to Amazon – and not necessarily all of the offers.
For items with no offers or where you feel the offer is too high, you may need to do extra research through the “Hot List” of research sites.
It was a stretch to find the “R” for this last thought so it is technically not part of my “5 Rs”: you have to be willing to make mistakes and learn from them.
As an experienced business owner of 20+ years, I knew I would make mistakes and I planned for them the best I could by spreading my risk and not spending too much in any one type of inventory purchase. I’m always fascinated by other sellers’ stories and what I’ve noticed is that most made mistakes early on that helped them ultimately be a better seller. While I totally understand how FBA Power could appear to be a software program created by Amazon, I don’t think my blog is confusing. I am past the initial stage where I just loved the hunt … as i found that my inventory sold but in the 3-6 month range. These films largely revolve around the elaborate magic shows pulled off by the Four Horsemen. Story-wise, this sequel’s plot focuses on the Horsemen and FBI Agent Dylan Rhodes (Mark Ruffalo) getting caught off guard by Walter Mabry (Daniel Radcliffe) and his plans to work them over in his own game. For kicks, Michael Caine and Morgan Freeman are also back for more, with the dueling personalities used sparingly enough to keep our focus on the main characters and simply enjoy the minor presence of these two veterans. There are a few well done sequences involving sleight of hand and the inner workings of these magicians and it plays really well. What is great about these sorts of sequences is the lack of reliance on completely CG elements to accomplish magic.
Much like the Ocean’s films, which relied heavily on cast chemistry, Now You See Me trades plot convenience in for a likable group of characters. Now You See Me 2 does not ask a whole lot from the audience, which is a good thing in a way. Sounds like a fun idea and who knows, in the spirit of gambling, it might end up being a sick run.
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I will often buy a higher ranking item if it is sold out reasoning that my unit might be quite welcome on Amazon and will likely not have competition (yay!). In my classes, private sessions and in my book I share some rank ranges that I use as guidelines for when I’m shopping. Other things I’ve sent in that I thought were adorable took months and months to sell even one unit. Acceptable risk has safeguards built in and relies on experience and patience rather than luck. Things that seemed risky a few months ago are now part of your regular purchases because they’ve proven themselves.

This is a slower growth plan, though, and some people want to buy the high reward items right from the beginning.
It is a lot like gambling to me and there’s that “bankrupt” slot that gets sellers all the time who try to fly too far, too fast, and tie up money in inventory that they can’t get out right away. This frequently comes from either not understanding Amazon’s fees or from not understanding their other costs. Most of the time the answer will be “no” and you are scanning fast to get to the “yes.” During this time you will not only be developing your patience muscles, you will also be learning about the types of items that are likely to be good candidates. There are also brands that are either restricted or practically impossible because they have their own store on Amazon.
This means that if you see something promising, you need to click through to Amazon’s site to see it more completely and make sure that there aren’t other offers that would make your deal less exciting.
ScanPower includes direct links to eBay completed, Google UPC and other sites in its product. Perfectionists will find this business frustrating because there are so many variables beyond your control and because you will make mistakes.
Sometimes when someone posts their numbers or gives a short synopsis of their story, it can appear that they magically started FBA and made zillions. In addition, I think they want to avoid confusion with the seller community who might think that a site such as mine is actually a branch of Amazon.
That sounds incredibly fun to me and apparently many others, as the first film was a sleeper hit, paving the way for this sequel.
The first film had to keep us closed off from them, as they were in on most of what was going on. Various connections are revealed over time, but it will come down to the Horsemen pulling off another impossible heist, as well as finding their own way to out-magic the mastermind of their possible destruction. Also, after making what I found to be a solid American film debut in The Green Hornet (one of that film’s few highlights), Jay Chou enters the cast, only to be almost entirely wasted. There is some editing that feels a bit too convoluted during some of the few fight scenes, but the magic action is well-staged. You can question the believability of certain scenarios, but while the first film had showcase performances that really felt like a computer created them, the illusions we see here are at least grounded in plausibility. It is content with throwing a lot of story at the audience and making it fun and easy to comprehend. Chu, Lizzy Caplan, Mark Ruffalo, Michael Caine, Morgan Freeman, Now You See Me, Sanaa Lathan, Woody Harrelson.
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If I can make my margin at a lower, more competitive price that is an opportunity if I think everyone else is overpriced. With new shoppers I am conservative because I want them to experience inventory turnover and get some money going. If there are zero other sellers, for example, I might think my item is super-cool, but maybe no one else does.
Witness the Disney Tinkerbell erasers I bought last August – I just sold my first one last week, alas. You also have a greater bulk of good selling inventory so adding more experiments affects you less and less – kind of like seller feedback on Amazon.
Some people I’ve talked with on the phone I can tell by the words they use and how they talk that they are gamblers or compulsive shoppers. I’ve seen some sellers working themselves to bankruptcy because they didn’t understand what kinds of margins they need to make.
He found great things there, but on the days when there wasn’t much, he didn’t have anywhere else to turn to for inventory and his sales would slow as his pipeline narrowed. This adds time to the process which is a bummer but – as I mentioned before – most of the time the answer is “no” which you can usually tell from rank, Amazon’s price, etc., without having to do research.
Try to manage your risks such that your mistakes when you make them will not affect your overall business too much.
Just kidding – I’m donating them to charity) and I have yet to figure out how to make good wholesale decisions – all my experiments have been failures so far. If you have a lot of mistakes in your inventory right now but you’ve learned from them, then they were simply a necessary part of your business growth.
Now You See Me 2 takes the ‘bigger is better’ route seen with most sequels and ups the ante for our main characters. Sanaa Lathan joins the cast as well, filling the shoes of in-over-her-head FBI agent, but at least she doesn’t have to be embarrassed so the story can show the others succeeding.
A highlight of the first film involved Franco using cards and tricks to fight his way out of a situation. Each brings what you would expect from the actors involved, with new addition Caplan being allowed to have just as much fun as the boys.
The joy should mainly come from the cast and the illusion-based heist and action sequences.
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Sometimes, they are doing nothing wrong, per se, they are just impatient or had other expectations for their business. The first time I bought a Harley Davidson comforter set, the rank was over a million (!) in bedding and there were no sellers. They only go to Las Vegas for conferences because they think it is ridiculous to throw money away on a rigged game. While all sellers get lucky sometimes with awesome deals, we don’t build our businesses on chance.

I am saying here what I don’t feel comfortable saying to a stranger on the phone – be honest with yourself. I add in my projected out-of-pocket business costs and figure out for how much I need to sell that item. So can you have items in your inventory that are only making you $5 for every $10 you spend and make money on volume? I ask about how many scans they did (your SerialMagic Gears will tell you if you have Android) and it is very low. We were using the same scouting criteria and we were the only scanners in the room during “members only” night.
The item was so cheap, I knew my clients could easily charge less than Amazon and still make their margins.
In past blogs and my book I’ve talked about mistakes that I’ve made that hopefully you can avoid. The film has some of the same issues from the first, meaning the plot really only works if you don’t think too hard about it, but plenty of positives actually make this film even more enjoyable. This film brings back Jesse Eisenberg, Woody Harrelson and Dave Franco, with Lizzy Caplan replacing Isla Fisher as a new character and does a much better job of keeping them as the focus of the story.
This film features Ruffalo in a similar situation, while another has all four Horsemen playing off of each other in a very slick way.
Radcliffe also gets to play around in a way that I only wish was explored more, given his bravado in early scenes. Like the first film, as long as too much thought isn’t applied to the logic, there is a good time to be had. Most of our business is “bread and butter” type purchases that have ranks in our range, a good margin, and not too much FBA or Amazon competition to torpedo our margins. I told her that they would sell over the holidays and that I thought they were all great items.
If it seems reasonable that I can sell it for that price in a timely way based on the other sellers, I buy it. While many people cannot afford ScanPower and ScanFob in the beginning, I tell them to make those tools one of their early purchases after they’ve made some money. Even when I officially change the name of my blog, I will still often refer to FBA in my posts, etc. I am the furthest thing from a skater, but I scanned it anyway because the logo looked cool. Joe: Retaliation and Jem and the Holograms have not proven to be the best outlets for Chu to shine, Now You See Me actually seems more fitting of the talents of the man behind two very entertaining Step Up movies.
Ruffalo is fine as well, though he has to balance his natural charisma with taking on most of the film’s emotional weight. The “home runs” are fun, but we win the game with steady base gains (I so rarely use sports analogies). I’m of the “old beater” school of thought because I know my son is going to make mistakes and quite possibly damage his car while he is learning. Because she needed to make money in the meantime, I talked to her about taking what few dollars she had left and buying books and collectible games. To be clear, if I’m spending $10, I expect to make at least $10 after I deduct all my expenses (including my initial purchase cost). That margin not only has to reward you for what you invested in it, it also has to cover returns and losses. A few items like that in the context of a much larger well-performing inventory base are perfectly fine. There is no way to circumvent this learning curve so plan to spend hours and hours in the beginning scanning stores.
By broadening his horizons and getting him to scan other stores as well, he now has choices and places to go when one store is a bust. It is for that reason that I keep supporting Chu getting behind the camera for some lighthearted action and the magician heist movie series certainly fits that category.
If we spend money on riskier inventory with high rank – or even no rank if it is a product you are adding to the catalog – then we balance it with other, proven inventory. I’d rather he make those mistakes in a cheap old beater (with good seatbelts!) so he will have greater success later when he can afford a more expensive car.
But most new sellers don’t have that yet so I advise them to put that item down for now and keep looking for a better margin. Because her Scanfob wasn’t working that day, she had to use her phone camera to capture the barcodes.
When you read his book, however, you realize that he had years of online and other sales experience before he ever tried FBA. I had to change dozens of links in my book and blog and people were annoyed and it seemed like I could never catch up – and that was from them changing their name!
If I didn’t step out of my comfort zone when scanning, I would have overlooked it and left money on the shelf. An addictive, adrenaline-fueled personality will show up in a seller’s inventory in a bad way with lots of risky buying decisions. We know when we buy that we may never make our margin on this risky item and it is acceptable because this item is an outlier in our inventory and not the bulk of our inventory.
He made mistakes and learned from them years ago when McDonald’s was putting Beanie Babies in its Happy Meals. Rank for me is my first test as to whether or not I should buy something – but it is not the only one. That experience taught me a lot and is largely responsible for my new FBA Library (easier to update changes) and for this gentle transition. While it is OK to have high ranking items in your inventory, make sure that they are the outliers and not the bulk of your inventory. It is great to have a long-tail sale that nets you big bucks when it sells – but that could be months or even years from now. I thought I was for each of these expensive experiments but apparently everyone else was buying and sending in their stuff at the same time.

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