How I REALLY make money as an Amazon Guru (selling Courses, Amazon FBA, Youtube)
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😎 ABOUT THIS VIDEO 👇
I’m a guru! And here’s exactly how much I made in the last year from my Amazon FBA business, from KZfaq and from selling courses as well as my other income sources.
You may have been bombarded by “broke to millionaire overnight” stories and ads recently and in this video I wanted to break down what it ACTUALLY looks like.
It seems to be taboo to talk about income whether from Amazon or from selling digital products or other sources. On the one hand no one wants to reveal profit margins, and only talk about the big numbers - top line revenue. It’s not that simple.
On the other hand, it seems to be the default behaviour to misrepresent where money really came from. Because doing so will make it easier to sucker you into paying for a dream that may or may not exist.
Anyway - watch the video to find out the truth. Cheers
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👋 About Myles / Nomad Millionaire 😃
My name is Myles and I'm no different to you. Three years ago I left a dead end engineering job to travel the world and become financially free. I had a few failed starts - but I found Amazon FBA and the rest is history. Since learning how to sell on Amazon I've sold over $6,000,000, built the dream life for myself and helped thousands of people to escape the 9-5 grind for themselves. My dream and life goal is for as many people to reap the rewards of financial freedom that I've been lucky enough to receive. Join me if you want to learn how to sell on Amazon FBA, private label, build an online business and live the best life possible. We all hold the power to change our lives forever - it just takes a start.
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If you enjoyed what you saw, leave me a comment.
If you found the video valuable, give it a like.
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#AMAZONFBA #ECOMMERCE #AMAZONSELLER #ENTREPRENEUR
@MylesDunphy 4 жыл бұрын
Let me hear your broke to millionaire story in the comments below... Get help starting your Amazon business TODAY 👉 swiy.io/amazontraining
@gursimar1111 4 жыл бұрын
If any newbie is reading this comment then know that this man is the most honest, down to earth and very very skilled. Not many out there can explain the things how this guy do.
@SteveSBrown 4 жыл бұрын
You can make money in so many other ways here.
@olivervidakovic2482 4 жыл бұрын
Yes
@theodorea.taylor9066 4 жыл бұрын
Exactly
@MylesDunphy 4 жыл бұрын
I've thought about selling my body for a long time Steve, and you just decided it for me.
@olivervidakovic2482 4 жыл бұрын
Nomad Millionaire Not necessary, invest with Kayla Palmer for a safer and more profitable experience.
@olivervidakovic2482 4 жыл бұрын
Kaylapalmer098 @ gmail,com
@alidaas 4 жыл бұрын
You are the most honest Amazon Gurus. I have listened to many trainers, and found you the best one!
@MylesDunphy 4 жыл бұрын
Thx Ali! Looking forward to our call on Fri btw.
@autohog 3 жыл бұрын
This is why I bought your course. Not that I have any interest in your personal income but only as it relates to a realistic look at a real FBA biz regarding true growth and potential net income. Thanks so much
@shimmymorris1 4 жыл бұрын
I love how transparent this is and how honest you are! We need more creators and teachers like you! It's honestly a breath of fresh air to see someone relatable!
@deanowilliams47 4 жыл бұрын
Hey fellow Aussie! Love your transparency and openness. As someone who has been busting his ass on AZ for the last few years, it's definitely key to choose the right product with good ROI to ensure that bottom line is in the green and not costing money! Agree with paying the money for good training and follow in the footsteps of people who have done what you want to do. Would love to catch up for a beer if you're ever in Canberra and will check out your course offering! Cheers, Dean.
@tismeDenis 4 жыл бұрын
Iv'e been watching your growth since day one and without doubt you are the evidence of FBA success and this is exactly what I needed to see RIGHT NOW ;-) Thank you and well done.
@Christina_Smith 4 жыл бұрын
Nice video Myles - appreciate the transparency and how you’ve stayed down to earth throughout the whole of your journey :) looking forward to the next video
@user-uz3rp5uv1g 4 жыл бұрын
Going to start my Amazon Journey around September thisyear through your video’s. I will keep you updated and i am feeling quite confident 💪 an honest product for an honest price to solve a problem for my future customers results in a happy binary situation
@ScottBailie 4 жыл бұрын
Hey man - been watching your content for a while now and I really appreciate your honesty about all this! It's nice to watch videos from one of the good guys :) Keep up the great work!
@urienzer0 4 жыл бұрын
Love your vids bratha, don't stop keep em coming!!!
@TropicalSailingLife 4 жыл бұрын
Nice to see a real person, not a fake guru .. you are so right! Looking forward to meet you some day on the 7 seas .. in SE Asia right now :)
@mirafbizuneh3974 4 жыл бұрын
You are the most honest "Guru" i came across on KZfaq, I'm very skeptical person when it comes buying a service from someone i don't know, but your contents and personality are very trustworthy, Myles hope to have the call with you pretty soon.
@sabrinahsuuu 4 жыл бұрын
hey Myles, can you do a video on shipping options and recommend any freight forwarders? thank you so much. Love your honesty and helpfulness. Always straight to the point.
@AdamHeist 4 жыл бұрын
Love these vids and the transparency.
@benjamincurrie1163 4 жыл бұрын
This is why your the best mate. Super humble and keeping it real.
@Bilal-fb3rg 4 жыл бұрын
It is so funny to see those gurus in your video ad xD ! Anyway thanks for your work! Could you please tell us whay kind of course did you take ?
@nextlevelprojectmanager 4 жыл бұрын
Excellent video! I used your linked for shopkeeper. Thats exactly what I need
@Gamer2347 4 жыл бұрын
This video is goldmine. Thanks Myles for being so transparent and honest!
@richardgaliguis 4 жыл бұрын
This is exactly what I've been looking for. Thanks Myles!
@narasimhasetra839 4 жыл бұрын
Myles, it was like publishing a White Paper! Awesome presentation and it was second to none! You have clearly bowled all those Fake Guru's out there. I have shared your success story to my children! Thanks.
@Lumencraft- 4 жыл бұрын
Myles, I really appreciate you sharing, especially the part about what you make on KZfaq and your Course. I have to say, I was almost right on my guess. Basically I looked at the number of members in the FBA group x the price of the course and then assumed that was accumulated over the past 2-3 years..... Also on youtube, you made about a dollar per year per subscriber 36k subs 32k rev thats very good...
@MrSlapp 3 жыл бұрын
Great stuff man, I am on my 3rd product and really hate the guru scene with all the bling. So many really just live of the courses and sell the image of that fancy lifestyle, when they really don´t even do the business. Some switch all the time from one hype to the next. Dropshipping, FBA, Bitcoin, real estate.... how can they be expert in everything and have so many businesses while recording hours of video? Keep it up and let me know if you ever sail to Dublin, Ireland.
@nigel_ivy 3 жыл бұрын
Thanks for sharing this man. Really appreciate the transparency! 🙏🏼
@VADyoutube 4 жыл бұрын
Thanks for this. You seem geniune and I appreciate the transparency. There's quite a few 'fake' gurus I would never follow links/buy. People like Kevin David (biggest scammer ever) and that woman Tatiana (she pushes the courses SOOOO hard and I've never seen any proof she's a successful amazon seller - total scam)
@MylesDunphy 4 жыл бұрын
Just gotta point out that Tatiana definitely does do ecommerce, she has a women's fitness brand, think they're waist trainers or something. You can find her other YT channel for more specifics
@VADyoutube 4 жыл бұрын
@@MylesDunphy I respectfully disagree Myles. If you watch her videos, she pushes those courses way too forcefully while giving little value to her videos.
@iswadisuhari5815 3 жыл бұрын
Thanks so much. I enjoyed the video and starting to make a step.
@alanjosephproductions 4 жыл бұрын
You are one of the only legit guys doing this .. it's why I signed up for your course! 👍♥ .. thanks.
@driqbal316 4 жыл бұрын
Thanks for your honesty. Too many people give the impression that Amazon is an easy business but that is not the case. Do you offer lifetime support for Amazon after taking your course?
@Varza 3 жыл бұрын
The time log is fantastic
@joechristopher338 4 жыл бұрын
Legend my bro. How many ASINs do u have atm and how many are you looking to launch?
@abbasradmard1574 4 жыл бұрын
Thank you.
@timdavidov6778 4 жыл бұрын
Myles, great video and channel! How much of your net profit do you need to reinvest into inventory for the next cycle, in your Amazon business? How much would you need to reinvest in your online courses business? I am trying to understand how much you actually take home annually in each of the types of businesses discussed. Thank you!
@MylesDunphy 4 жыл бұрын
Depends. if our growth rate was 0% yoy then 100% of the profit would free cash flow. if the growth rate was 100% yoy then i'd re-invest a large chunk of that profit. The course business is a time investment right now.
@timdavidov6778 4 жыл бұрын
@@MylesDunphy Thank you so much for your prompt response! It seems that both businesses compliment each other in terms of cash flow and diversification of income streams and potentials.
@joechristopher338 4 жыл бұрын
For more competitive products is it normal to spend say 20-25% of revenue on ppc? Or should this always come down the the % you recommend?
@joechristopher338 4 жыл бұрын
Also do you still do the simple 1 auto 1 manual for each product?
@Justin_Cheong 4 жыл бұрын
Hello Myles, how many Products do you have? And how many variations? to achieve such revenue.
@terryburns7277 4 жыл бұрын
Hey Mate! Very inspiring and transparent as always. Are you including money you have to put in for stock etc? Or do you take a junk of that $500k to do so?
@MylesDunphy 4 жыл бұрын
This is an estimation, not exact numbers but if I have $150k in inventory right now to make $500k, then to make $1,000,000 I would need to take $150k of that $500k and re-invest it, to have a total of $300k in inventory. Again - numbers aren't real but that's how it would work
@theresaparilo4477 4 жыл бұрын
Do you have classes ? Is there a link for your courses ?
@judd7699 4 жыл бұрын
Hey Myles, it’s great to hear your investing in yourself - I spend around $5 to $10 k per year doing this. Who are you using? and why did you choose that or those person. Congrats on your success .. Matt
@stevenjackson1209 4 жыл бұрын
Awesome content dude. How many products are you selling on amazon to have the revenue?
@MylesDunphy 4 жыл бұрын
lots
@klove20231 4 жыл бұрын
Hi I have been watching your video recently n it helped me a lot to start amazon. Everything was fine until amazon removed my asin a few days ago. To make the long story short I designed fashion fabric face mask made of cotton and produced in south korea. I am based in Uk n my brand was registered in Amazon US. I received new asin but they removed it after 24 hours. They said my product was removed because they identify my product as disposable face mask under category health and safety. They said they increased control all new items under catagory. But my product is not despicable product. I already produced 5000 pcs and waiting for their review. I already communicated through brand support team to solve the matter but I did not get any further result. I can see many other sellers selling the similar products without any problem. I am so worry about the whole situation. Could you advise how I could deal with the matter? do i need to delete the listing and add the product under different category? I have seen other sellers selling similar products under fashion category as well...I am so confused and need professional advice..Many thanks Karen
@jimmyd5804 4 жыл бұрын
This is why I bought your course
@maroonbear69 3 жыл бұрын
What do you use for your virtual assistant?
@andythomas9128 4 жыл бұрын
Hi Myles, i can see your VAT bill but what about tax paid on your sales in other countries?
@jimnaaf7360 4 жыл бұрын
Hey Myles, thanks for the video. if I have watched every one of your videos, does that basically mean I’ve taken your course?
@MylesDunphy 4 жыл бұрын
only if you're talking about my course videos
@krislassen9020 4 жыл бұрын
Great video! So how much of the profit do you pay to yourself, and how much do you reinvest to scale to 8 figures?
@MylesDunphy 4 жыл бұрын
i'll let you know when i get there haha
@cryptolife5756 4 жыл бұрын
Wow!!! You are for real
@eugeniaessel261 3 жыл бұрын
Do you recommend a new person to do a trademark?
@laptopgrind1936 4 жыл бұрын
Really curious on how paying income taxes would work for you considering you're selling on 3 different regional platforms and you're not a citizen of any of them? would appreciate some insight
@MylesDunphy 4 жыл бұрын
Income tax triggers where you live, generally. Example: live in Aus, sell on Amazon us. Income tax is paid in Aus.
@laptopgrind1936 4 жыл бұрын
@@MylesDunphy thanks for the clarification.
@-jolminasansgluten7579 4 жыл бұрын
@@MylesDunphy i have created an LLC in Wyoming USA but i live in Algeria, do you think that i should pay taxes in US?
@1ofu419 4 жыл бұрын
Please correct me if I'm understanding this wrong but your net profit is lower than the amount spent on unit + shipping. How is that a scalable income? Won't most of your profits be needed to go back into your unit + ship costs? How much of your net profit are you pocketing and not funneling back into your business?
@borislavfilipov2777 4 жыл бұрын
Net profit is the earnings after accounting for unit and shipping. Basically he put 670,000 for units and shipping and earned 1,220,000. From which you take out the expense for units and shipping and it leaves him with 550,000 net profit. If you add the operating expenses he is making above 100% ROI which is really great at this scale imo.
@borislavfilipov2777 4 жыл бұрын
Maybe a Balance sheet report can show clearly the difference between the beginning balance and the ending balance haha. But it should be 550,000. So now he can invest this 1,220,000 in units and shipping and make another mil in net profit next year :)
@MylesDunphy 4 жыл бұрын
Hey Bob good question but you do have it wrong by comparing those numbers. the total spent on unit cost is the sum over the whole year, it's not the amount I had at any one time. With a FBA business you should turn your inventory over 3-5 times per year. And ROI should be >100%. EXAMPLE: I had $150,000 in inventory (example, not actual number), I sold it through ('turned it') 4x in the year, and I made 100% gross ROI each time, my total COGS for the year would be 150k x 4 = $600k. My gross profit would also be $600k. That's pretty damn scalable. Anyway hope it makes sense.
@1ofu419 4 жыл бұрын
@@MylesDunphy Thank you for taking the time to explain this to me. I really appreciate how active you are with your subscribers. Have a nice day!
@bangkokskater 4 жыл бұрын
could you sell it for 5 year profit?
@maroonbear69 3 жыл бұрын
Fucking amazing, brother. Following!
@Lumencraft- 4 жыл бұрын
@ 3:23 WOOOOOOOOOOOH Crap, I'm still doing it wrong! A 42% margin after PPC....... NICE! That is almost double what I had this month (23%)
@lubnabozkurt2832 3 жыл бұрын
How about your sales tax on your Amazon FBA income?
@DrMihirShah 4 жыл бұрын
So you worked 1000 hrs.. what do you do for the rest of the time ?
@MylesDunphy 4 жыл бұрын
Was sailing last year
@mauamolat 3 жыл бұрын
But he already retired this
@vladk597 4 жыл бұрын
Hi Myles, I'd say you're a good guy. I like watching the content of your videos. However, this video made me sad as your calculations are significantly skewed. Where are the horrendous sums of taxes you paid?! Taxes are the most significant parts of your expenses and you don't count them? Especially, if you live in Colombia and you are a Colombian tax resident. Colombia is very highly taxed! I've been in business for 20 years. Before I started my Amazon business, I had been conducting due diligence on taxation and building my tax optimized strategy for months because taxes might cut your profits more than 50%. Especially, in countries like USA, UK etc. People posting on here have obviously no clue about this problematic part of Amazon business. You're misleading them. They can easily end up in jail as tax evasion is the most serious crime, nowadays!
@MylesDunphy 4 жыл бұрын
Between you and I Vlad, one of us knows about my financial & tax situation and it appears to be me, not you :D Yeah absolutely you're right in that if you live in a high tax country, you would take these figures, add a lot of (legit) expenses to bring the number down, and either way, be paying a non insignificant amount of tax I dont give tax advice on this channel but i guess if anyone is reading this and unsure... speak to an accountant in your country of residence please.
@vladk597 4 жыл бұрын
@@MylesDunphy I didn't say I knew more about your tax situation. I just was hoping you could explain why you didn't add your taxes in your cost breakdown. You are being considered the most honest guru on KZfaq. So that's why I'm asking you, not other gurus, and all on here are also curious;-) After my nitty-gritty research, I know it's impossible to pay ZERO or hide wealth. There are still some possibilities, however, those are very uncertain, illegal and it's just a matter of time when the tax collectors chase you down. The other day, I had a discussion on Facebook with Helium 10 Users. Nobody, absolutely nobody knows how big chunk of their Amazon income has to be paid on taxes. People were absolutely clueless. Just know after watching Freedom Ticket they needed to set up a US LLC. But nobody tells you such a strategy sets you back around 50% on taxes. It's impossible to scale up your business with such a tax burden. Obviously, you don't want to talk about this as you completely avoid my question. Nonetheless, somebody has to start talking about this matter. It's so important for people starting their Amazon business to be aware of this huge expense.
@deanowilliams47 4 жыл бұрын
@@vladk597 Normally don't bother commenting ever.... but..... I'm guessing it wasn't answered as it's outside the scope. The taxman will always be chasing their chunk of your money - from business profit, from selling property, selling shares, selling crypto... This information is for building a solid online business, there are plenty of other resources on how to legally minimise tax payable. Personally, I would be ok with earning $1500 per hour and paying my share of tax. Still plenty of money available for scaling a business.
@AussieGirl235 4 жыл бұрын
That’s exactly how you also make money. Don’t trash talk others when you push your course and affiliate links on people
@brainiac006 4 жыл бұрын
The difference is that some people sell courses that they actually put work on it and they still sell on amazon. Most amazon gurus DONT sell on amazon they just sell on YOU .
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