17: How Andy Dew the Young Hustler used Amazon FBA to Achieve Financial Freedom

Andy Dew-2

Andy Dew travels the world and lives a location independent life.  He uses Amazon FBA to run his business and he created a course to show you how to do it too.  He has a physical products company and he shows you how to travel the world for free!

What were the first steps you took to build your business?

Saw a good opportunity and put everything on a credit card and jumped in with both feet.  I made a tons of mistakes – even financial mistakes.

If you see an opportunity, don’t let fear hold you back.  GO make it happen.

3 Biggest entrepreneurial mistakes:

  1. I needed to start saying no to people a lot more.
  2. I should have started my email list sooner.
  3. Not using a WordPress website from the start.  It has caused headaches!

How to deal with Fear of failure?

See if your fear is rooted in the past somehow.  Did you fail or have a bad experience that is coloring your future?

What if you are stuck in a rut?

Do whatever you need to in order to push past fear.  Even if you are broke, buy a Udemy course and learn how.  Paid courses are a great value, but you can always start with free resources.  Just go for it, even if it is isn’t a pretty start.

Key Habits for Success?

  1. Have fun. Living your life on your terms should be fun!
  2. Get in the habit of saying no.
  3. If your lifestyle begins to be threatened, then you start hustling.
  4. Travel if you can!

What is your recommendation for someone getting into online business?

Start a WordPress blog and test the waters.  Find our what is appealing to you and what makes you come alive.  Dip your toes in and see where it takes you.

How secure do you think 9-5 employment is?

For me personally, it sounds like a terrible option.  It needs to be evaluated differently, and it doesn’t have the same value as it used to.  It’s now a very insecure job options.  Working for yourself is much more secure.

What are your best Amazon strategies?

Source products that are already in demand.  Identify what products are likely to sell. Purchase inventory and send it to Amazon and they fulfill the products.  You can also wholesale products and do it the same way.

No business can be on auto-pilot.  But you will learn some things as you go along that will help your business.  You can create a unique listing on Amazon, that is bundled package that is unique to you.

How do you prepare for Christmas on Amazon?

A couple years ago, in one week I purchased about $30,000 in a week. I then got a call from Amex, and they didn’t want him to spend any more.  A week during 4th quarter feels like a month.

Last year I have $10,000 of inventory for 3 SKU’s and Amazon de-listed it, making all that inventory unsellable.

What advice will you give to someone that is about to give up?

Do some extreme bootstrapping and do whatever you can do, even if it means that you need to sell things around your house.  Amazon will walk you through the process if you can’t afford a course.

What skill do you recommend people focus on?

Consistently take action on what you know you should be doing.  Tackle the difficult things first, and your business will go forward faster.

Best Advice:

andydew.com is my free blog and it will give you some great resources.  Almost every email I send out will add value to someone’s life.

Do’s or Don’t for starting out:

Don’t let fear dictate the direction of your business.

I am a natural introvert, and I hate being on camera.  Periscope and creating my video course has helped me tremendously.

Why you think you are successful?

Relationships with people and the friendships I am able to make.

Amazon is a great platform to start in the online world.  It has built in automation and scalability.

#1 Tip:

People will choose to be unhappy before they are choose to be uncomfortable.

Write out your worst case scenario and call a friend and tell them what you wrote.  Commit to pursuing what you truly love before you settle for being comfortable.

Connect with Andy:

andydew.com

Periscope – andydew

itsdewable.com

 

Next week we have another amazing guest on to share with you how they are earning their living online and living life on their terms.

To Your FU Money!

Mike and Rob

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