In this article, let's learn from Oscar Martinez and his Amazon journey.
I'm incredibly thrilled to share with you an interview featuring someone I've been following for quite some time. His name is Oscar, and he has recently achieved a remarkable breakthrough in his journey. Oscar's income increased from half a million to a million and a half dollars in the last 12 months.
What I’m really interested in is not only the physical transformation in his business but also the profound shift in his mindset. I'm eager to learn more about Oscar's journey and gain insights into how he navigated this significant barrier. If you're as intrigued as I am, then this article is for you.
Who is Oscar Martinez?
Oscar has set his sights on surpassing seven figures in revenue this year. As a full-time Amazon seller, he has been fully dedicated to this endeavor since 2021, reminiscing on his journey of over a year. His business model primarily revolves around wholesale, accompanied by a little online arbitrage. Additionally, he has incorporated a few employees into his operations.
What was his revenue last month?
In April 2023, he achieved an impressive revenue of approximately $120,000. Comparatively, during the same month the previous year, the revenue stood at a mere $25,000 or even less. This substantial growth reflects a remarkable progression in his business.
What was his journey like?
Oscar commenced his entrepreneurial journey in 2019, drawing inspiration from one of his former mentors named Noah. After stumbling upon Noah's YouTube videos about wholesale dropshipping, he became intrigued by the concept and decided to take action. He proceeded to create an Amazon seller account, established an LLC, and embarked on his business venture. From there, he dived into the world of wholesale drop shipping, eager to explore the opportunities that lay ahead.
He explored different avenues in his entrepreneurial pursuits, including retail arbitrage, online arbitrage, and wholesale. As the year 2023 unfolds, he has made a conscious decision to primarily center his efforts on wholesale, while still maintaining a presence in the online arbitrage space.
What is the revenue split between wholesale and OA?
Wholesale is around 70% and then online arbitrage is around 30% at the time.
Did he start in OA or was it always split?
Initially, he ventured into wholesale dropshipping, which served as their primary approach. However, he soon realized that to gain a competitive edge, he needed more capital, prompting him to explore alternative business models. This led him to delve into retail arbitrage, a path that provided him with immediate access to products. Recognizing the scalability of online arbitrage, Oscar also ventured into this realm.
After years and years of experience, you just kind of learn certain things. Then you come to realize that wholesale is basically the same, just more scalable. Whatever you're doing, one of an RA or OA, you just do 10 times the amount with wholesale. So it's really just about expanding the skills with wholesale and stuff and basically having the capital as well too.
What was his capital growth like?
Oscar started this journey with a thousand bucks that he saved from his job, so he took that money, made his LLC, and bought some inventory, obviously. It’s different in today's dynamic with how Amazon is. Everybody just talks about straight-up credit cards from the get-go.
When he started back then like that, there were no real talks like that about credit cards or barely even loans as well. So, he kept reinvesting that thousand dollars every single month. Obviously, throughout the journey, there were mistakes made. So I lost some money, which took time for him to recoup and buy a better inventory. Then, about a year into that, he got his first Amazon loan offered to him by Amazon itself. It was a very small amount, a $1000 that they offered him. Though he didn’t have a complete plan of where to use the loan, he accepted it and made sure to make the most out of it.
And then?
Oscar found himself unsure of how to effectively utilize the loan he had obtained, lacking the necessary skill set to maximize its potential impact on his business. Over the following year or two, he continued reinvesting whatever capital he had available. However, it was in 2022 that he experienced a significant shift when he delved deeper into credit cards. Equipped with a more comprehensive understanding of the business and the skills he had acquired over time, Oscar recognized the need for increased capital. Motivated by this realization, he decided to apply for several credit cards, recognizing the potential they held for scaling his business. Harnessing the power of these credit cards, Oscar successfully expanded his operations and propelled his business to new heights.
8 Things I Learned from Oliver Martinez About Reselling on Amazon
Going full-time on his Amazon business only in 2021, Oscar Martinez grew from a monthly 25,000 to 125,000 in just one year. Now well on his way to becoming a 7-figure seller, Oscar shares his experience growing his business by getting more capital, and other ways he grew exponentially.
What tips can you give to people who want to transition from cash capital to credit?
Number one, make sure you have the capital to pay them back in full. You don't want to end up having to borrow $10,000 and you only have a thousand in the bank account to pay it back off. You're gonna be paying huge interest in that. So that's number one. Number two, know your cash flow, and know your products. It's easy to drop $5,000 on some products, especially new products that you may or may not know if they're gonna move or not. Should the worst come, let's say you send them in, the price is staying; you wanna hold them; you don't wanna sell them yet. Well, now you have that capital tied up to pay off that credit card, right? So do be aware of that.
How did Oscar Martinez overcome challenges?
Oscar found himself continuously learning and honing his skills in the Amazon selling game. One crucial aspect he focused on was analyzing Keepa charts and understanding product variations. Prior to this, he had been purchasing products without considering the variations, which proved to be a valuable lesson for him. Reflecting on his journey,
What happened?
Oscar realized that most of his previous mistakes had already been rectified in the years leading up to the current one. In the transition from the previous year to the present, his primary focus was on increasing his spending. Oscar discovered the importance of keeping track of his expenditures.
This led him to monitor his numbers, meticulously tracking inventory costs and other financial aspects. The pivotal hurdle he faced was establishing organizational systems and maintaining a comprehensive overview of his financials. Nevertheless, his efforts in staying organized and on top of his numbers have proven to be immensely rewarding, contributing to his current success.
What problems did he face when learning how to “buy big” pertaining to suppliers?
Oscar encountered a significant challenge when one of his suppliers unexpectedly decided to discontinue their business relationship, causing a temporary setback for approximately a month. To mitigate the impact and maintain the continuity of his business operations, he made the strategic decision to shift his focus toward online arbitrage (OA) during that period.
Recognizing the need to secure alternative product sources while searching for new suppliers, he actively pursued opportunities to acquire products readily available through online channels. This adaptive approach allowed him to sustain the business and prevent prolonged disruption. Determined to overcome the obstacle, Oscar diligently worked to find new suppliers and successfully established a partnership with a promising supplier who is currently delivering positive results.
Reflecting on this experience, he emphasizes the importance of diversifying supplier relationships, cautioning others against relying too heavily on a single supplier. He advises fellow entrepreneurs to be prepared for unforeseen circumstances that may arise, such as supplier issues or changes in the brands they carry, which could potentially have a detrimental impact if not adequately anticipated and addressed.
What is the team situation like?
At this time last year, it was primarily him and his wife managing the operations. They would work together, with his wife assisting in product preparation. Oscar would handle most of the tasks from his dedicated workspace. However, fast-forwarding to the present year, he has expanded his team significantly. He now employs two virtual assistants who assist with sourcing products and managing administrative tasks remotely. Additionally, he has hired two in-house preppers who are currently busy preparing their products. This growth in personnel has allowed Oscar to delegate responsibilities and streamline his business operations.
In one year's time, what would it look like?
Once they achieve their projected targets, the plan is to establish a dedicated warehouse separate from their current residence. This move will allow them to relocate their operations and create a more professional and efficient setup. With the warehouse in place, Oscar intends to further expand his team. Oscar Martinez envisions hiring another virtual assistant to support the growing demands of the business. Oscar's approach to growth is methodical, taking it one step at a time and carefully assessing the numbers and opportunities that arise. The establishment of a warehouse will also open doors to collaborating with more wholesale suppliers, including those that require commercial addresses. By pursuing these strategic moves, Oscar aims to continue expanding his business and solidifying its success in the market.
Grow your Amazon business like Oscar Martinez!
The best way to connect to Oscar is through his Instagram profile. Interested individuals can search for his profile, by visiting his Instagram page, you can also explore his content and stay updated on his journey and insights. You can also subscribe to his YouTube channel for more updates.
Learn more from successful Amazon sellers. Our previous articles feature experts in online arbitrage, including Romer the Roamer, Raiken Profit, The Gravy Train, Scott Needham, Checkmate Flips, Fields of Profit, Gavin Sweeney, Jonny Smith, Flips4Miles, Clear The Shelf, Oliver Flips, Taylor Jones, 1000 ASINS, Soros, FBA Makayla, Samara, Nathan Hirsch, FBA Boys, Casey – Kick Flips and lastly, Carter Maxwell. These experts in online arbitrage have shared their Amazon journeys and valuable insights, providing you with a wealth of knowledge to draw from. Keep learning, keep growing, and keep crushing it on Amazon.