How would your life change if you became a multi-millionaire?
I had the pleasure of interviewing my friend, Matt Clark, who is the co-founder of Amazing.com and the Amazing Selling Machine. Matt is an award-winning entrepreneurial thought leader and multi-millionaire, who built three multi-million dollar online businesses before he reached the age of 25.
Together with co-founder, Jason Katzenback, he dedicates his work to teaching people how to build life-changing businesses, by leveraging the power of Amazon.
If you have the desire to be an entrepreneur, or want to take your business to the next level, this is an interview that you don't want to miss! Are you ready to learn how you can become a multi-millionaire?
Watch the video below:
(Click here to watch on YouTube)
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Are you ready to learn how to build a profitable online business selling on Amazon? CLICK HERE for instant access to my free training series!
If you are reading this, chances are that you have the desire to become a multi-millionaire.
With the rise of Internet multi-millionaires, starting an online business has become the new rage, but it takes a special kind of person to create a multi-million dollar online business. If you believed every article that was written about how to become a multi-millionaire, you would think that everyone and their dog was doing it. This is far from true.
Learning how to build a multi-million dollar online business doesn't happen overnight. It takes grit, hard work, and passion. If you have a get rich quick mentality, you will be doomed for failure. Like every entrepreneurial success story, there is a process that you need to go through in order to create your ultimate dream lifestyle.
You may be wondering, “How do I achieve this kind of success?” This is where Matt Clark comes in. If you want to be the best, you need to learn from the best.
Here is a sneak peek of my interview with Matt, where I pick his brain on how he became a multi-millionaire.
Can you share a little bit about the company that you co-founded with Jason Katzenback?
Our company is called Amazing.com, and we help people start and grow businesses. We have a heavy focus on Amazon. It’s our bread and butter. We help people with our program, Amazing Selling Machine, which walks people through everything, from what Amazon marketplace platform to sell on, how to pick a product, how to find suppliers, how to scale a business, and how to do marketing. Basically everything that you would ever need, including a large community and top software to help build your business. That is what we are best known for.
We also have a membership over at Amazing.com that gives you an a la carte selection of different trainings that you can go through in order to scale an Amazon business, whether you want to learn how to increase conversion rates or run PPC ads. Our whole mission as a company is to give people freedom, whether that's financial freedom, freedom to live wherever you want, or the freedom to work for yourself.
The best avenue for us to accomplish that mission is through Amazon's business model. We know nothing better than this right now. We have members that are making as much as $30 million dollars per year with businesses that they built starting with our company. It's been incredibly fulfilling for us. That is why we are here and what keeps us going.
How did you guys start Amazing.com?
Ever since I was in high school I knew that I wanted to start and run my own online businesses. I never really wanted to work for someone. I went to college and finance was one of my majors. The plan was to go out in the world and work for an investment bank for a few years, and then start my own fund after that. I was 7 months into my investment banking job and I soon realized that it sucked.
I didn't want to be there for one day longer, so I left the job and I started to expedite my plan to start my own online business. I had no idea what I was going to start, but I ended up fumbling my way into selling different high-end health supplements online that, in today’s world, have become a lot more mainstream. I had no idea how to sell online, but through the help of a guy that I had met, who was an employee at an agency, it was enough to get my e-commerce store up and running.
I learned everything that I could. I went to all of the conferences, I read every book, article and blog, and I took seminars on Google Adwords. This knowledge allowed me to get my e-commerce business to go from $700 in the first month to doing $2 million a year during the second year of operation. I was growing the thing like crazy, but at the time, I had about $100,000 on American express cards at the age of 22. I had no idea how I was going to pay it off.
Sure, I had a couple of million dollars in revenue, but profit was not good at all. It was pretty much non-existent because I was buying so many ads and trying to get inventory in, that I didn't know how to run an online business. I got out of this situation by focusing on the conversion side. I knew how to buy ads and convert them, but I didn't know how to get those people to buy more stuff afterwards, that didn't cost me any money.
That's when I dug into email marketing and copywriting and that's what really turned things around for me. I was able to get my e-commerce business profitable and ended up being able to sell it. Jason and I met and we decided to form a partnership. I knew a lot about selling on Amazon, just through trial and error, and he was skilled at creating training, courses and software that could help other people take this information and build businesses for themselves.
We created a course called, “Amazon Money Machine”, which ended up becoming the Amazing Selling Machine and the rest is history. We kept growing from there, and soon realized that we were changing a lot of lives with our program. This is what motivated us to keep going. Since then, we've really gone all in, with regards to fulfilling our mission of helping more people change their lives and become multi-millionaires.
You started by selling a course, but you have now built a successful brand. What has the transition been like for you over the last few years?
There have been a lot of learning lessons. I've learned so much about the nature of business, how to grow a business, and who I am along this journey. Things have gone really well, and at times, we've tried to grow our staff very quickly and push ourselves into 52 different directions. We've learned a lot in the process. Fortunately, we've maintained good value.
We value our customers. At the end of the day, we know that we don't benefit at all as a company unless our customers are getting incredible value. Our customers love, respect and trust us. Through all of the dumb mistakes that we've made, that is what has kept us going, and why we have been able to become multi-millionaires and create a thriving online business.
What would you say are some of the biggest challenges and failures that you've faced along your entrepreneurial journey, and how were you able to overcome them?
The biggest mistakes that a lot of entrepreneurs make when they are first getting off the ground is trying to go too wide, instead of deep. I don't know why we are wired this way, but as soon as something works, we want to do 52 different things, in 52 different directions. It happens to a lot of people who sell on Amazon, and it's happened to me as well. This is not the direction that you want to take if you have the desire to become a multi-millionaire.
Let's say that you get one product working on Amazon, and it makes $10,000 a month. You then start thinking to yourself, “I want to make $100,000 a month, which means that I now need to sell 10 products.” Not true. A much smarter approach that will keep you sane, not mess up your operations, and likely make your online business more profitable is to say, “How can I get this one product to do even better than it is already doing?” This is the mindset that I encourage people to have when striving to become a multi-millionaire.
When you do this, you don't have to manage multiple suppliers, train employees on your products, or manage two different listings. We've made this mistake before. Because we knew how to get people selling on Amazon, we decided to teach people everything that there is to know about how to build a multi-million dollar online business – everything from accounting, to social media, to management, to Amazon e-commerce apps. You name it, we wanted to teach it! This was NOT a good idea because we didn't have this kind of expertise in all of those other areas.
We went way too wide and we didn't do as well as we wanted to, so we had to really narrow our focus to what we knew best. That is the point at which our business really grew. That was a huge learning lesson for us. You need to have the discipline to stay focused, knowing that, at the end of the day, you will have a much better business and a lot more stability in the long-term.
I used to study success and tried to figure out how it worked, and then at some point a lightbulb went off in my head and I realized that there is only really two things that you need to succeed in business – focus and persistence. As long as you can get those things going, and you keep at it long enough, there is no reason why you can't become a multi-millionaire. A lot of people don't focus or give up too early.
What is your mindset and approach when it comes to failure?
I've never looked at anything that I've done as a failure. I've probably started 20 online businesses that didn't end up working out, but I always perceived those experiences as things that I didn't really like anymore, so I changed my direction. Somebody could look at what I was doing and think to themselves, “No, you are starting these businesses and completely failing at them,” but that was never my mindset. To me, it's more based on iteration.
No matter how much research you do, you don't really know how well something is going to do, unless you put it out there and see what happens. On the other hand, I can hopefully save you a lot of money and heartache by teaching you how to fail, the right way. We've taken so many big risks in our company that we were almost out of business, and that's not a situation that you want to be in or have to be in. Experiment and fail, but learn how to do it smart and on a small scale.
I am a big believer in morning rituals. What does your morning ritual involve?
I've tried a lot of different things. At the end of the day, I always ask myself, “What am I trying to get out of this?” I'm a big believer that your mornings are an important time to condition yourself so that you are able to face whatever crap you need to deal with during the day. It's about building resiliency first thing in the morning.
I go to bed fairly early so I'm up by 5 or 6 am. The first thing that I do is throw on some clothes, go outside and walk. I start to think about what I'm grateful for, before I start thinking about what I want. From there, I start to envision what it is that I want to get out of my day, what I want to bring to my day, and what I'm excited about.
I'm a huge fan of the device, heart math. I use it during my morning ritual in order to see what is going on inside my body. You clip the Inner Balance technology to your ear and it analyzes and displays your heart rhythm, measured by Heart Rate Variability (HRV). It shows you how your emotional states are affecting your nervous system. The app then gives you focus exercises that you can engage in, in order to calm your stress levels.
Then I'll have a cup of coffee, do a workout, and look at my priorities for the day. As part of this process, I will review my weekly, monthly and yearly goals, as well as what I've already planned to do for my day, and then I will dive into work.
Recently, I've tried to divide up busy work from focus work. As a society, I believe that we've lost the ability to focus. If you can set aside time to get meaningful tasks accomplished, then you will have a competitive advantage. Do your best to shut everything off, set a timer and get hyper focused, with zero distractions.
Anyone can become a multi-millionaire, but not everyone will.
Are you up for the challenge? If you have a desire to be a multi-millionaire and be your own boss, travel the world, or create financial freedom, I encourage you to check out Matt Clark & Jason Katzenback's company, Amazing.com.
Their teachings have changed thousands of people's lives, including my own. Now is the time to create the life of your dreams. Seth Godin said it best, “Instead of wondering when your next vacation is, maybe you should set up a life that you don't need to escape from.”
Are you ready to learn how to build a profitable online business selling on Amazon? CLICK HERE for instant access to my free training series!