Do you want to know how to develop a 7-figure business in only 12 months? This may seem like a challenging task, however, with a little hard work and perseverance you can hit the lucrative 7-figure mark!
The Arab Affiliate Summit 2016, held in Cairo, gave me the opportunity to speak on this topic and unleash some golden tips that can help you either accelerate your existing business to 7-figures, or start implementing a 7-figure Amazon business model.
The innovative summit was host to renowned professionals, marketers and businesses with key speakers from the affiliate and digital marketing industry. There was a selected panel of prominent speakers including my partners at Muslim Entrepreneur Network, Com Mirza, who has also worked hard to develop million-dollar businesses and Harun Rashid, who has a wealth of experience as Founder of Islamic Design House.
Mahmoud Fathy and Mohammad Khartabil Founded the Arab Affiliate Summit in 2014, with the aim of providing a sole platform to bring experts in the business and marketing industry together so that they can network, share ideas and inspire one another.
Some of the keynote speakers included representatives from Microsoft and Head of Global Community at Teespring. My presentation on developing a 7-figure business was viewed by over 750 affiliates and partners at the summit who had been exclusively invited to attend however; I want to let you in on the key golden nuggets that you can start implementing.
By the age of 26, I had created a profitable 7-figure Amazon business and went on to establish multiple 7-figure projects, which is why I would like to impart this knowledge with you and inspire you to take action!
You can achieve what you want in life with hard work, strategic planning and most importantly implementing the knowledge that you acquire and turning that into creating real results.
I apply a success formula in any area of my life. If you want to get any positive results in your life, decide on what results you want. This is what I did in the initial stages when I was studying at university and getting bad grades. I decided to take action, get a mentor and learn from A star students how to pass exams and this is how I came out with A stars at university.
Golden tips to develop a 7-figure business in 12 months
Amazon – Physical Products
- You firstly need to start by taking action to achieve your goals.
- If you want to develop a 7-figure digital product business in 12 months you need to look for products to sell that have private label potential.
- When you go on Amazon and look at products start looking at the bestseller ranking as this can tell you how much demand there is for your chosen product.
- One of the reasons why Amazon is so popular is due to the review system. Make sure that reviews are at least in the 1-500 category.
- If you look for an ‘iPhone 6 case’ you may see that there is unprecedented competition. Whereas if you look for an ‘iPhone 7 case’ you may find less reviews and less competition so this would be a better option.
- Use com to search for private label products that can be imported from abroad at a cheaper rate and can be sold on at a higher rate.
- When you launch your product don’t launch your product like everyone else. Be unique and create your own bundle. Offer something additional to your product and you can generate more sales.
- Use professional and quality images of your product when selling online and try to take multiple pictures of your product at different angles so that customers can get a better feel.
- Launch your product by registering your Amazon account and use Amazon Ads to promote your products.
Success Formula to 1 Million on Amazon in 12 months
If you want to make $1 million divide it by $20. Each product will be on average $20 so you would need to sell 50,000 units of that product a year.
Let me show you how easy it really is…
If you take 50,000 units and divide it by 12, every month you need to sell 4167 units.
If you divide 4167 by 30 you need to sell 140 units a day.
In other words, if you want to make a million in sales on Amazon you need to sell 140 units a day on Amazon.
If you have a good product you can make at least 20 sales a day. If you divide 140 by 20 you will have 7 products.
If you sell 7 products a day, with 20 sales a day each with approximately $20 per unit this will generate you $1 million dollars a year on Amazon.
Launch 1 product a month for a whole year, even if you launch 12 products some might fail but some will do well.
This is how you can build a solid, sustainable business with physical products on Amazon to reach $1 million in 12 months.
Now here are some tips to developing a 7-figure business in 12 months with digital products:
- Online information courses can be developed within any niche and can take your business to another level compared to other digital products that you could introduce.
- In your niche, put yourself in the shoes of your customer and send out a survey. Ask your customers what they want, what their biggest pain is and what problem they want to solve in your area.
- Ensure to identify the number one single biggest challenge your customers face through your survey.
- Use the information to build the perfect tailored digital product for your customer and for your marketing.
- Build the basic brand assets for your business. Gain authority and social proof by organising an event.
- During the event you can deliver your course content and build your online platform which you can then sell and do a pre-launch by giving free valuable content.
- In this phase give value and get their email addresses or contact details. On the pre-launch you can create a bundle of 3 core videos to transition prospects who are interested in your topic and want to become a buyer.
- You can deliver your course through platforms such as
- If you want to learn in more depth to build a 7-figure business with digital products you can sign up at Muslim Entrepreneurs Network.
7 Figure Scale Formula
$297 = 3368 units to sell
$497 = 2013 units to sell
$997 = 1004 units to sell
$1997 = 501 units to sell
$2997 = 334 units to sell
These are just a few tips to get you to launch a 7-figure business using Amazon however you can watch the full presentation which was given at the Arab Affiliate Summit by clicking the link: ‘How to Develop a 7-Figure Business in 12 Months’