One of the keys to the way I do it and this is by no means ‘according to the book’ or anything. This is just the way that works for me. What I try to do is have a product that sells on Facebook very easily and creates lots of customers.

I’m not trying to make profit necessarily on this product that I’m selling via the Facebook Ads. But what I’m doing is trying to breakeven on that product.

If I can do better than that, that’s fantastic but ultimately what I want is the ability to build a list of customers who have bought from me and have a good experience so that I can sell them more products in that same vertical.

Obviously there’s no acquisition cost on the sales that I make through the list/through them. So, the only cost at that point is the cost of goods sold on my products. So, that’s when I start making the margins and the profits on the customers.

The idea or the criteria that I look for in a product is to have a product that is going to have pretty good sales velocity.

Why that’s important is because obviously the business isn’t going to grow very much if you are only selling one or two units a day because if you’re selling a smaller number everyday then your list just takes forever. It’s too slow.

Because of that there’s a lot of little criteria that I’ve found that helped in picking the right products for them.

Going from the slides here that Aaron has on the screen, one of the real values of having a deal like this is create a real asset for you when you sell your business.

When I sold my businesses, what I found is they wanted the rankings and things that I had on the sides but they also wanted my customer list.

And, having a customer list to sell in the process, if selling your business is one of your goals, having the customer list is a big value differentiator for you in the business.

If you don’t have a customer list then the multiple that you are able to sell it for is much lower.

If you do have a customer list, especially a large one, like 10,000 customers or more then it makes your business significantly more valuable in the eyes of a purchaser.

So, that’s one real value of building a big list of customers.

Another one, and this is something that Aaron and I have talked about is when you have this list of products that our list of customers anytime you have a new list of products on Amazon, in your ecosystem, you can then use your customer list to actually launch your product on Amazon and get sales velocity there that helps you with your FBA efforts.

I don’t know how exactly the Amazon thing works, but I do know having customer list that can give you 500 sales very quickly is a big advantage in that process.

How I’ve always found the product is a little different. It’s backward probably from how you guys do it. I go on Amazon and use it as a research tool to find products that I thought could sell on Facebook.

I would try to find products that are lower priced because obviously that equates to the ability usually to get people wanna make an impulse buy and will make a quicker decision.

Usually I try to keep the price lower like $30 or under so that you can really move some products there. If your selling something really expensive like a $1,000, you might have a really valuable customer but you’re not gonna get nearly as many of those. So, you have to spend more on ads and so on and so forth.

What I generally do is try to find products that is selling on Amazon, which Aaron has informed me that a lot of guys who have these businesses, they already have a product that sells that might be your best product or something but for me it’s just always research.

What I would do is find one that I could sell there and then I would sort of reverse engineer through AliExpress and Alibaba and see if I could get the product for significant discount half of what it’s selling for on Amazon. If I could, then I knew that there’s something that I could do on Facebook.

So that’s my sort of little process that I developed for myself is to find products that I thought would sell a lot, that are low priced and that I could source though one of the big Chinese manufacturing websites.

Another criteria is obviously you want something that is easier to ship because you’re handling shipping yourself, eventually, because like FBA they do it for you but in my case I handle it myself. Having shipping prices that are lower is much better for your margins.

So, that’s sort of how I pick the products. What I try to do is find one like a decent middle of the range type of product that I can sell 10 units a day or more. That means I’m gonna pick up probably 300 customers per week.

Once you validate that yourself then you have the ability to be much more creative on how you sell it with your funnel, which we are going to talk next.

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