Mastering the 40 Minute Work Week
That might sound like click bait, and in a way maybe it is, but I currently work about 40 minutes a week on my Amazon store and that gives me enough money for all my living expenses. I think there are many other great ways that you can minimize the work you have to do so that you can do the work that you want to do. This is just a short article to tell you how I am doing that.
My goal is to work in a way that I spend all my time working on what I want to work on. That type of work is totally different than working a job just for the paycheck. My goal is getting to a point that I only work on what I am passionately driven to do. My Amazon business is only a stepping stone to being able to continuously do my fulfilling work. Through my fulfill-by-Amazon (FBA) store, I also sell quality natural health products that are along the lines of my values and I don't even look for or act on opportunities that are outside of my values.
My time is much more valuable to me than it is to most business owners, so I am basically forced to work for myself, because no one else will pay me enough to give me the amount of freedom that I want. Someone would have to pay me a ridiculous amount of money for small amounts of work and that is unreasonable for what I am willing to offer them.
My office today
FBA Store - 40 Minutes Per Week or Less
Initially it took many hours of research and filling out lots of forms to be accepted to sell on Amazon. Finding the wholesalers and products that were profitable and not already capitalizing on Amazon is a time intensive investment in the beginning.
Now that I have done that work, maintaining shipping and delivery takes very little time through FBA. There are ways that I could minimize that even more, but I do have my suppliers ship to me for quality/quantity check and then I send them in bulk to Amazon. From there, Amazon handles each separate order and customer service.
I try to keep products stocked up so that I only have to replenish once a month or less - often this work takes me less than 40 minutes a week. From my Amazon store revenues, I pay Amazon all their fees, buy more inventory, and pay myself. This is starting to grow to a point that I will be able to add significantly to my savings/crypto-investments and continue current and new business ventures.
My Pre-Amazon Business Revived!
I have already revived one old business idea and have a few more in the works. We are now selling our Magnesium Oil on Amazon Steemit was a part of the business from the beginning, from crowdsourcing the design to inspiring me start my financial freedom crypto journey!
The profit margins are higher when you are manufacturing your own products, but that takes having the idea, finding your suppliers, and managing production and branding so it is more work, but worth it if you have the right business idea.
I do a combination of selling brand name products from suppliers and producing my own products and I plan to do more of both as I grow the business.
Allowing Me to Live My Dream
It's not like I am sitting on the couch the rest of the week though. Because of the financial freedom that my FBA store allows, I am traveling full time in @thedodgemahal and building @freedomtribe to help others live their dream!
Our current location in Shasta Trinity National Forest
Traveling across the U.S. in a 45 year old RV is every bit of exciting and challenging as I expected. To be able to enjoy these beautiful spots in nature with @lindseylambz and our 3 dogs is well worth the work it takes to maintain this rig. I enjoy doing all that it takes to keep @thedodgemahal doing what it was built for. It gives me a feeling of self sufficiency, independence, and of course, freedom for our family adventure!
Yesterday, we found a beautiful secluded spot just a short walk from our current location near lake Siskiyou. My heart is so full in these times of enjoying all that nature has to offer!
On Highway 1
If you have any questions about specifics on how to start an FBA store, or get support from Freedom Tribe to live your dreams, contact me on discord @richardcrill#5964 Also feel free to tag me in the Freedom Tribe discord!
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You know the hardest part for me (which is also one of the most important parts)? Calculating profit margins. I had to kill off one product because it took me a whole year to realize I was only breaking even on it.
Kinda lame 'cause I'm good at the product descriptions, pictures, sourcing, finding a not-too-competitive product, etc.
This is super fascinating. I've thought about sharing my experience on here too but haven't yet.
Totally! Me too! Those FBA fees make it so the profit margin has to be pretty huge to to still be profitable after the fees, but for me, FBA is totally worth it to get the buy box and have them manage each order and customer service. But yeah, there was definitely a steep learning curve when I started!
Lol I've been doing it for three years 😂 still end up miscalculating things haha. You're totally right though, over time I've had to change things. One product I used to be able to sell for $15 I can't for the life of me sell for more than 6 now. Even with persuasive copy and all that. A lot of people came in and drove the price down, including Chinese sellers using FBA. So time to change products cause you're so so right about the profit margin thing. Thankfully Amazon small and light helps make some difference now for products like that
In a way your story is really inspiring for them who wants to stand out with their own work and who don't wants to work under some kind of Corporate domination.
And in my opinion initially you've put lot of efforts that's why your work is adjusted in 40 Minutes otherwise it would be difficult. And great to know that you are working upon effective projects and i hope and wish that you will attain success in those projects.
And yes, many will not going to get the opportunity to explore the nature and for sure you are blessed in that aspect. So keep up and more heights to attain.
Wishing you an great day and stay blessed. 🙂
Jesus 2.0
I wish that could work ... really
It does.
That sounds too good to be true! So how does one qualify for such a job?
There is no application. You are you're own boss. It is as simple as doing the research and filling out the required forms and investing in your initial inventory. It doesn't take much more than that to get started really. The work is in finding suppliers to work with.
I admire the ethos of the 40 min week and the freedom it seems to give you personally but at what social cost? I am vehemently opposed to Amazon and the kind of world they are creating. I never buy from them and will never sell there. https://mic.com/articles/90567/stephen-colbert-perfectly-explains-why-we-should-all-boycott-amazon#.cLLRcUUq4 It is not true freedom if it oppresses oppresses others.
wait a minute, who is amazon oppressing?
Content & product creators, to start with. Thought you might ask that, hence my adding the link. :) Amazon is the antithesis to steem & crypto.
I read the article entirely, hence the question ;) How are they oppressing content and product creators?
Are you aware that Steemit uses Amazon Web Services?
Loads of articles about this online. :) I refuse to buy nestle products too. And monsanto.
Yeah, I don't use nestle or monsanto products. but I buy and sell on amazon all the time. i also use purse.io to get 20% off anything on Amazon with bitcoin.
Really love that story. The real you jumps out in the words !
You are a legend @richardcrill, I'm glad I found you and I feel very inspired.
I'm just starting on this world of freedom, so I'll make sure to just listen and read what you say, trying to absorb as much as I can.