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Module 1 of Private Label Masters

August 16, 2020

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Private Label Masters - Tim Sanders

MODULE 1 - Overview

Detailed Review of Module 1 of Tim Sanders' "Private Label Masters" online course that teaches entrepreneurs how to become successful sellers on Amazon. 

If you're looking for a different detailed to the max, up-to-date review of Tim's PLM, then stop clicking and start scrolling because you have arrived. 


MODULE 1 - Welcome to the Course

25 minutes and 21 seconds

Video 01 - Welcome to Your new Future (Start here)

Tim expresses gratitude for the opportunity to teach and outlines how the course is designed.

Explains that this is not a get-rich-quick scheme, getting rich in 6 months is possible, but poor today, rich tomorrow doesn't work.

Elaborates on the importance of going through the lessons in order, don't skip steps.

 Total Video Time: 2 Minutes 19 Seconds 


Video 02 - Mindset for Success

With what attitude should you approach this course?

Tim shares a couple of key mindset building blocks, like prioritizing your business and beginning this whole process by writing down reasons why being successful at private label selling on Amazon is successful.

Tim's why: sick and tired of working hard and not making much money as he deserved. He made a decision to find another way to build the income he desired.

He also explains that over time your why will evolve as your life changes, you go from wanting to make more money to desiring more time to spend with your loved ones such as your spouse and family.

Overall, he emphasizes the reality that your why is what will, when you are struggling, push you through.

 Total Video Time: 7 Minutes 59 seconds 


Video 03 - Licensing Your Business, Paying Uncle Sam and Limiting Product Liability

Business License:

1. Tim offers the disclaimer that he is not a lawyer, nor an accountant, so this is not to be considered formal advice.

2. he gives an overview of the different advantages that an LLC has over a sole proprietor or an S Corp. But he does urge you to start selling and then worry about getting the proper licensure.

Finally, Tim encourages you to get the protection that you need.

Tax Overview:  

1. Tim explains the characteristics of a solid CPA and to whom you will be paying tax to (the State, the Federal Government).

2. He reveals a few simple tools to use to automate this process so you can concentrate on selling. (One detail is how to get an EIN and then input it in your seller central account). 

acquire your employer identification number at zero cost

Product Liability Insurance: 

1. Tim offers some advice: don't go for high liability products! Rather start small.

2. Don't worry about this insurance until you have selected a product and it is in Amazon's warehouse.

3. Tim includes a pdf with a contact that specializes in PL insurance so you don't have to search around for one. 

 Total Video Time: 7 Minutes 50 Seconds 


Video 4 - Amazon's Fee's: A Breakdown

In this lesson, Tim gives an overview of the different kinds of fees that Amazon will charge you, from seller account fees (individual or professional), Fulfillment fees (reg. size and oversize tiers), referral fees, and more. At the end of the video, Tim does a quick walkthrough of the FBA Revenue Calculator tool.
 Total Video Time: 7 Minutes 13 Seconds 

Module 1 - My Primary Takeaways

 

This lesson offers a nice introduction to the FBA business model, doing a great job at educating students that while not an overnight money maker, this business can be profitable in a fairly short period of time. 

Additionally, Tim does a quality comparison as he lists the pros of different business licenses. Tim advocates for a Limited Liability Company license for a number of reasons. In my case, I went straight to an LLC as they can be obtained affordably and offer the most flexibility when filing Uncle Sam's dues (taxes). 



VIDEO QUALITY 60%

Video Quality: 6/10

Some videos were pretty blurry.

SOUND QUALITY 90%

Sound: 9/10

This short module offers clear sound.

CONTENT QUALITY 90%

Content: 9/10

Tim's content in this first module is understandably foundational, which is very helpful for FBA newbies. 

OVERALL 85%

OVERALL IMPRESSION OF MODULE 01

This module provides important information, from how to stay motivated to how to structure your FBA to enable rapid growth. 



Lead Generation is my #1 Online Business Choice 
(IMO Less Hassle Than Selling Physical Products)
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Ippei Kanehara
Founder/CEO Ippei Leads

$52K per month providing lead generation services to small businesses

Ippei.com is for digital hustlers, industry leaders and online business owners.

His #1 online business recommendation in 2020, is to build your own 6-figure lead gen biz. You can learn more here.

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