8 Figure Power Couple of Amazon – Podcast With Josh and Becca Hadley
00:18 Welcome to AMS Podcast
00:38 Josh & Becca Hadley
02:30 Why Amazon? Tell us the story
04:40 Do you test the market?
08:00 Business transformation
09:40 Using graphic designers.
13:45 Designing from A to Z
19:20 Failing Designs
23:40 Product Reasearch
Josh and Becca started their business in 2015 when they had just graduated. At that time, Josh was working full-time in the corporate sector. On the other hand, Becca never felt a passion for working as a full-time employee. She spent her time learning about graphic design and using Adobe Illustrator to build her skills. Once experienced enough, she started making custom wedding invitations for friends and family.
That’s when she realized the demand for custom-designed products. She teamed up with Josh, who was naturally a great salesperson and started looking for clients. In a short time, their business reached a stage where they got 2-3 orders daily. To further grow their business, Josh started exploring more options to look for customers. One of these options was Amazon. He tried selling recipe cards and, surprisingly, got amazing results.
To explore what people were looking for, Josh used Becca’s Facebook account. He joined as many bridal groups as possible and reached out to people looking for personal invites. All wedding invites were based on personal requirements. When selling on Amazon Business, they had to transform their business into offering pre-designed products like calendars and notebooks. Once their business hit the million-dollar mark, that’s when Becca decided that they weren’t going to stop. They were going to turn their business into a multi-million dollar company.
Polish Your Skills
Another factor that gave them the required confidence was that Becca was always a truly gifted designer. They even tried hiring multiple graphic designers over the past eight years but couldn’t find anyone as talented as Becca. By the time they made their first million dollars as Amazon Seller, they were a team of only three people. Josh, Becca, and their assistant.
One of the qualities that allowed their products to stand out was that they were both very observant. Even when Becca was out with her children grocery shopping, she kept learning from the designs in her surroundings. This allowed her to test different designs and analyze the trends. As per Becca, Amazon doesn’t have a good variety when it comes to designs. Also, it is full of copycats, because of which no one bothers to focus on the design.
Face The Failures
Not all designs were a success, though. There were many designs that failed and didn’t give the expected results in terms of sales traction or volume. Fortunately, their Amazon Business had enough revenue to try out 30+ different designs without worrying about losses. According to Becca, a person can get emotionally attached to the designs that they create. Therefore, it might get hard for them to let it go if it’s underperforming. But when it comes to business, tough decisions have to be made at times. She advises the seller to accept the failures and move on with a winning attitude.
Trust The Data
Within just eight years, Josh and Becca were able to grow their startup into an eight-figure business. One of the reasons behind their business’s success is that it has always been very data-driven. Some of their team members were dedicated to processing massive amounts of data gathered through PPC activities and reverse searches using Helium10. Initially, they used to be happy making three to four sales per day. Now, however, they expect a product to make 50 to 100 sales a day for it to be considered successful.
Manage Your Cash Flows
Another thing that Amazon Sellers need to focus on is assessing the cash flow in their finances. As per Josh, many new Amazon sellers either do not understand the value of the financial statements or are too afraid to look at them. Also, many new Amazon Sellers are attracted to Advanced Payment Solutions.
While these solutions offer great liquidity and seem feasible initially, they can actually harm the business in the long term. This is because the business will have to pay hefty interest on the sum borrowed. If this aspect is not managed properly, the sellers may suffer losses. If a Venture Capital firm backs the business, that is a different story.
Amazon Business Is a Full-Time Job
One of the biggest mistakes that Amazon Sellers make is that they consider Amazon Business as a passive income source. They consider it a business that is capable of running on its own. In fact, a lot of technical knowledge and effort goes into running a business as an Amazon Seller.
Before a product is launched, it is important that the seller should dive deep into the keywords. For that, one of the best approaches is to sort through various keywords and enter them individually into Amazon. When the seller identifies what is being pulled up in the results, they can better understand how to build titles and bullets.
Understanding The Customer
There is a perception that people will always prefer a cheaper product. This is actually not the case. According to the couple, many copycats flooded the market once their business succeeded. People didn’t even bother to change the logo at times. Despite the tough competition, the couple never lowered the prices of their products. According to Josh, an important factor there to consider is understanding the mindset of an average U.S. consumer.
They are willing to pay extra for a quality product. There came the point when the competitors were releasing the copied products within three to six months. That’s when they partnered up with legal experts and explored copyrights and patents. This enabled them to send a takedown notice as soon as they found a copied product. They even filed lawsuits against other people who were stealing their designs.
Building A Perfect Team
Building a perfect team is another aspect that sellers should consider for their Amazon Business. The couple’s current team comprises 25 people from all around the world. Even if the family is on vacation, they are confident that the business is running smoothly, thanks to the exceptional hiring skills that Josh has. According to Josh, different businesses require different job roles.
As an Amazon Seller, the seller will likely manage everything on their own initially. Once the business starts growing, the seller needs to identify the tasks that are consuming too much of time and create a role for them accordingly. For instance, a business might need a virtual assistant, a PPC manager, or a supply chain manager.
Find More Info About Josh and Becca Hadley Here
Like all the awesome Amazon Sellers, the couple is ready to answer all selling-related questions. Josh runs a podcast called Ecomm Breakthrough which discusses strategies to help sellers scale their business to 8 figures and beyond. If case of any questions related to graphic design, Becca can be reached on her Tiktok account.