Sometimes people ask me, “Why did you start an Amazon business?” And that’s a really, really good question.
Something I’ve learnt after twenty years in business is, most people, when they get started in the business, they sit down somewhere, they get an idea, and they jump in, boots and all, because they get excited. But, what actually happens when you’re an entrepreneur, and you have these ideas, these moments of passion, is that you really start to think about the product (or the service), and you’re not really thinking about the outcome. The outcome should always be what it is that you ultimately want as a result of being in business.
Sure, you want some money. You might even want some recognition. Whatever. At the end of the day, most entrepreneurs, what they want is freedom. Freedom is a result of having a business that has time, and I mentor entrepreneurs just about every week. I sit down with somebody who wants me to give him my opinion on their business. Usually, they come to me, they have their business cards, and they have their logo. They have got the idea, and quite often, they have even spent hours or months doing their website up before they show it to me, and I say, look, “All of that’s great, but when all this development and creative excitement is over, what actually has to happen in order for somebody to give you money, and for you to get financially rewarded for it?” There’s something that needs to be done at that point in time.
The question I always have for them is, “Do you really want to be doing that thing, at that point in time?”
The reason I love Amazon—I’ve got three companies, and all of them are successful—but the reason I love Amazon and Amazon business the most, is because at that moment in time, when I’ve done the creative work, I’ve created the brand, I’ve tossed the product. I’ve done all that stuff, and it goes live on Amazon … I’ve done maybe a few months of work, getting reviews in and stuff, but once I’ve done that, the answer to the question is that there’s nothing for me to do. I just make sure it doesn’t run out of stock, which means that I have the most important thing to me, which is time. True entrepreneurship is about freedom. If you want freedom, then you need to choose the right business, not just any business.
Believe me, so many businesses will not give you time, even if they’re successful. In fact, the more successful they are, the less time you’re going to have.
If the ultimate goal is time and freedom, it really has to be Amazon as a business model. That’s why I always look at Amazon as an investment. I’m happy to make $50 or $100 dollars a day by selling a couple of little products, and then build them up; none of them require my time once they’re built.
Time, for me, is the name of the game. Thanks for watching. I hope you’ve learnt something from this. Bye for now.