Here's the Secret to Making $142K a Month From Amazon
Many workers are turning to side gigs and part-time jobs to supplement their main source of income, from taking up tasks on Taskrabbit and Angie.com to freelance work. Others are throwing themselves in the e-commerce game, like Dr. Jenny Woo, the founder and CEO of Mind Brain Emotion.
This entrepreneur told CNBC that she earned $142,000 a month from selling card decks on Amazon. If you're interested in finding out how to start a business like this of your own, why not hear from an expert?
How She Did It
The Harvard-trained researcher and mom of three created these skill-building tools and mental health cards, called "52 Essential Conversations," to help improve the emotional intelligence of children, their caregivers, teachers and others by having critical discussions. Some cards help with interviewing skills while others focus on relationships.
These cards are designed to help teach people essential skills that are universally needed and "never go out of style," Dr. Woo revealed in a YouTube interview.
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The business owner launched a new deck every four to six months on Amazon and her sales usually totaled around $33,000 a week, she said in an interview with "Entrepreneur." She also earned semi-passive income through her online courses and real estate investments.
The business brought in about $1.7 million in revenue in 2023 and it's estimated that roughly 40% of that is profit.
Her Advice on Starting a Business
Here's some of her solopreneur advice for others who want to make money on the side:
Be passionate about the idea: "Find something you're truly passionate about and hopefully will be passionate about for a long time, because it is a grind," she told Entrepreneur.
Flesh out your business idea as much as possible: Talk to as many people as you can. Pay attention to what the customer asks for, their feedback and concerns about the product and if there's a demand for it.
Get funding and launch quickly: Dr. Woo initially spent $1,000 of her savings to kickstart the business out of Harvard's Innovation Lab. She then tested the icebreaker card game in classrooms and launched a Kickstarter campaign. After she raised $10,000, she launched on Amazon in 2018. The following year, she raised an additional $7,500 and the business hit six figures.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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