In this article, let’s talk to Fields of Profit and learn how he managed to grow his Amazon business at the age of 22.
Who is Fields of Profit?
Warned Profit, also known as Fields of Profit – is an Amazon seller from Arkansas where he started selling on Amazon in 2018. He started college selling used books, went to thrift stores, and worked his way up. He started with only 1,000 dollars and bought cheap books at thrift stores for a year. Then stumbled into the world of online arbitrage and wholesale. Practiced his way and started to use tactical arbitrage and learned the ropes.
A full-time Amazon seller by the time he graduated college and was matching the professors' salaries with his earnings. Now, he’s been an Amazon seller for over 4 years.
How he achieved 400,000 dollars in 30 days?
In year one, he sold all books 100%, and maybe some electronics. Still finding out items from thrift stores and the reason why he did that was because of money, as he didn’t have some at the time. He was able to spend a dollar and turn it into 20 to 100 dollars.
That’s when he started looking into wholesale. Made some expensive mistakes and moved his way into online arbitrage in 2020.
Things started to make a difference when he got his name out in the community making videos and meeting some friends and sharing ideas. That’s when he was able to scale his business doing his first 100,000 dollars. And this December, made about 4 times more.
Scaling his Amazon business
In online arbitrage, there are small things that cost the business. Losing 1 or 2 units would really add up and he doesn’t want to run an arbitrage business at the moment for that is an 8-figure scale at that point. If you’re doing 1,600,000 dollars a month, that would be a problem in finding the leakage. That kind of stuff would make more sense to do wholesale.
Keep in mind where you’re doing 200,000 dollars a month in online arbitrage, it makes a lot more sense to start transitioning to wholesale. Just because it’s going to be easier to pay. If you want to send an email to buy 2,000 units of an item versus placing 20 orders to get that 2,000 units of it.
It’s fun to run your own business and help other people learn some things you learned in your journey. If you are doing Amazon by yourself it gets a little lonely and making some friends will help you learn from each other.
Fields of Profit work structure
Many Amazon sellers have the same philosophies wherein you want to make your time worth as much money as possible. Fields of Profit is not going to have the highest margins but his time will be worth the most money. Being so, he can do and do better things.
Within his team, he has built relationships with a prep center and has a VA team, mostly from the Philippines that sources products for him. He has a manager who looks through leads. He also coaches them on an individual basis. Purchases good leads on his credit cards and ships them off the prep centers.
How did he find his VAs
His buyers are in the United States. It’s kind of family friends kind of thing where he knew they’d be a good hire. At some point, if they’re going to spend 200,000 dollars, your money every month. It’s worth paying up for somebody you can trust.
How many VAs does Fields of Profit have?
Since they have been moving people around. He now has 7 sourcer virtual assistants, 1 manager, and 2 buyers that are part-time.
8 Things I learned about Reselling on Amazon from Fields of Profit
Growing exponentially on Amazon within just 4 years is quite a feat, especially while in college. I interviewed Warner Fields of Fields of Profit to learn about his journey to success in Amazon at a young age of 22.
How did Fields of Profit structure his team?
He hired his first Amazon virtual assistant a year and a half ago doing 30,000 to 40,000 dollars a month in revenue. At that point, he wasn’t able to spend all of the money when he was a full time student.
You get a little bit of help when you hire a virtual assistant. Having product-sourcing VAs help and that’s why he added that to his team. Slowly ended up hiring his manager, who worked for his leads list business for a while. So, he got a ton of practice beforehand.
How much time does he spend on his Amazon business?
Fields of Profit spend 2 and a half hours a day on the Amazon business. But he would love to get that number much further down. Once he’s been able to get somebody to help him with repricing and restocking, he will be able to pull closer to 30 minutes a day.
He spends most of his time on social media helping clients and he’s really passionate about that.
What’s next for Fields of Profit?
His goal is to cut tasks where he can cut 30% of his income finding the levers that can buy back his time. He is happy to reduce his income to start having freedom. His biggest goal next year is pulling himself out of admin tasks.
He got a warehouse and wants to start going into wholesale a little bit to scale his business. Going into wholesale by the end of next. He imagines they are at a decent percentage split between online arbitrage and wholesale. There’s just so much easy low-hanging fruit but next year’s priority is how to make his time worth more money. Also, bring back his sanity.
What advice can Fields of Profit give to Amazon sellers?
The biggest things that have helped him are going out there and just getting his name out. You’re brand new to doing something as simple as setting up an Instagram account and posting a picture and showing people you are trying. When you go and ask questions, you’ll get DMs from time to time from people who will answer. And also, you are more likely to answer their question because they are taking them seriously.
Also, people are trapped in that personal frugal mindset, especially as brand-new business owners. Do not live fancy. You can’t do that in your business. Don’t go out then say you’re going to sell 100,000 dollars the next day. Invest in education. You’ve got to be willing to lose a little bit of money, invest the money, and take risks
How are you going to scale your Amazon business?
It’s not just about working hard but also utilizing other people, leveraging your team, and building your connections – these are things that are going to help you achieve what you want,want, which is helping others but also earning money.
If you want to contact him, you can follow him on Fields of Profit pretty much on any platform. Get free information on YouTube and shoot a question on Instagram.