11: From Waiting Tables on Minimum Wage to Making a Killing on Amazon FBA with Steve Raiken

Steve Raiken

Welcome to the FU Money Show!  Today we have an interesting interview!  Steve Raiken was just like us, working dead end jobs that he always hated, but he felt like life could be so much better.  He ended up finding a bunch of videos on YouTube and they were from what is known as the “Reseller Community”.  Soon after that Steve was hooked and began his own business reselling things on eBay, Amazon, Craigslist etc.  About 6 months later he was able to quit his job.

He quickly realized that he needed a niche, instead of just selling everything.  So, he chose his niche – Men’s Clothes.  Now he lives full time off his reselling business.  He has made over 600 videos on YouTube under Raiken Profits.  At 28 years old, he has helped thousands of people learn how to make money through reselling items online.

We are finding that many entrepreneurs we talk to have had a very rough past.  Some have had rough upbringing, but they have a “hustle” in them that could be used for good or evil.  Steve learned early on that you must hang around the people that you want to be like, because who you hang around with is CRITICAL to your success.

Steve’s 3 Biggest Mistakes as an Entrepreneur:

  1. Hanging out with the wrong people
  2. Taking advice from the wrong people
  3. Failing to take action because of spending too much time planning

What’s the advice you have for someone getting started:

  1. YouTube is a long term play – it takes a lot of time
  2. Kindle Publishing and Amazon FBA are probably the best place to start.  (Fulfillment By Amazon) Amazon handles all of the fulfillment and you don’t have to do anything other than sourcing your items.  Amazon picks, packs, ships and deal with customer service on that item.  Once you send Amazon the products, you can just get money coming in, and it resembles passive income.  He went from $200 in sales to $10,000 in sales on Amazon in 2 months.

3.  Stop planning everything out.  Just fail on a budget.  Go to thrift stores and yard sales and buy products and get started.  Learn more and tweak your products.

4.  Don’t let people give you advice who are not where you want to be.  If they aren’t living the life you want then ignore their feedback because they will discourage you.

#1 Resource for getting into reselling! YouTube

Raiken profits, Amazon FBA, Reselling, etc.  Search them and watch to learn.

Add value to people’s lives.  Period.  If you want to make money; add value.  Offer a solution.  The money will come.

Money earned is a by product of value created!

You can get in touch with Steve at:

youtube.com – Raiken Profit

facebook.com – Raiken Profit

Periscope.tv – Raiken Profit

raikenprofit.com

Next week we have an exciting episode with an entrepreneur that is killing it with a global brand and 62 million viewers!  You could say he’s “Addicted to Success!”

Until next week!

To Your FU Money,

Mike and Rob

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