Five Figures Monthly Review – Amazon is the Ticket
If you’re interested in making money online, you’ll find that there are a number of ways to do it. You can sell via affiliate marketing, which is my preferred way of doing it, but there are certainly other options. You can sell via direct retail, putting things in boxes and mailing them to people (I do some of that), but that’s a lot of work and it’s not suited to everyone. Or you can, as Five Figures Monthly suggests, sell products through Amazon, and have them do a lot of the hard work for you.
Five Figures Monthly takes that a step further, and allows you to bypass the middleman to increase your profits. While most people find wholesale sources and have the products shipped to Amazon to have them pack and ship for them, Tim Godfrey, the creator of Five Figures Monthly, suggests an even bolder plan – creating your own products that represent your own personal brand. That, he says, is the key to earning Five Figures Monthly. Will this work? Read on for our full Five Figures Monthly review.
Five Figures Monthly Overview
Five Figures Monthly is a training course, offered in the form of 20 PDF manuals and 20 videos. There are also a couple of upsells, which I’ll explain in a bit. The basic premise of the course is this – branded products tend to sell better than generic ones, and offer you the opportunity to offer an entire suite of related products for sale in the Amazon marketplace. If you offer one good product, then people who liked that one will be more likely to be interested in any subsequent products you offer.
Additionally, by having your products custom-made for you, you can buy them at rock-bottom prices, which offers you the opportunity to enjoy larger profit margins. While Amazon does have a huge marketplace and lots of people have made good money selling products there, you’ll find that they also have a lot of fees and a tendency to nickel-and-dime you to death with packing fees, storage fees, and more. The only way to make money with Amazon in the long run is to have a number of products that sell steadily, because products that aren’t selling are going to cost you money in multiple ways. Of course, it helps to have high profit margins, as that can help pay those exorbitant Amazon fees.
But how do you create a product of your own? How can you even decide what kind of product to sell? Who would make it? How much does that cost? Isn’t it really expensive? Actually, these things can all be accomplished, and a surprising number of people have managed to earn substantial profits using this method.
There was a course out a while back called Amazing Selling Machine that offered much of the same material that’s offered in Five Figures Monthly, but that course sold for more than $3000. Five Figures Monthly on the other hand, is sold for $67.
The manuals and videos in the Five Figures Monthly course are going to show you 20 basic steps to creating and marketing your very own branded product on Amazon:
- How to find product opportunities
- Tests to decide if a product idea is viable
- Tests to determine if a product idea is profitable
- How to pick the three best ideas from your research
- How to find reliable manufacturers/suppliers for these products
- How to pick the single best product to sell
- Creating your personal brand, logo and packaging
- Ordering a sample product to determine if it has good quality
- How to order your first batch of inventory
- Creating a Website to promote your product
- Creating marketing materials
- Creating your Amazon seller account and listing for your product
- Optimizing your Amazon product listing for maximum profits
- Your product launch
- Using Facebook and other social media to build a list of buyers
- Using Amazon Sponsored Ads to get instant sales
- Tips to increase the size of your mailing list
- Tips to increase traffic, sales and brand awareness
- Creating more and related products for your brand
- Repeating the process for increased profits
Clearly, the program outlined in Five Figures Monthly is not a way to make money quickly. Five Figures Monthly is, however, a solid plan to make money in the long term, using a proven method that is very easy to follow. In fact, the plan outlined in Five Figures Monthly is basically a formula that you can apply over and over to find affordable, profitable products that you can sell on Amazon in huge quantities. Granted, it’s going to be a lot of work and it will require some investment on your part, but there are many success stories of people who have done this successfully.
There are a couple of upsells offered when you purchase Five Figures Monthly, thought the course is well laid out, easy to follow and fairly complete. One upsell is membership to Ecom Masters, a well-recognized training program for learning how to sell on Amazon. It’s optional, but possibly worthwhile, depending on your knowledge of how Amazon works. The other Five Figures Monthly upsell, while expensive, is rather interesting – they will find, research and create a product for you. In short, the Five Figures Monthly staff is going to do all of the hard work so that you can simply get started ordering products.
Five Figures Monthly Summary
Five Figures Monthly is a solid, well thought out program that shows you how to make significant profits by creating and branding your own products to sell on Amazon. It offers much of the same information offered in other courses costing as much as $3000 for a low price of $67. The course is well written and easy to follow and if you are patient and have some money to invest, it should be quite possible to succeed with this program. While it won’t be suited to everyone, it is a plan that has been shown to work repeatedly if you simply follow the steps.
Five Figures Monthly is highly recommended.