People often tell me that the best episodes of The Smart Passive Income Podcast are the ones that:
- A: Inspire by sharing real results.
- B: Share specific, step-by-step strategies.
- C: Immediately get people to start thinking about their next steps.
Session #99 does all of this, while also shedding light on a new business model that I've never discussed before—and, to be honest, one that I knew absolutely nothing about.
That's why I'm extremely happy to introduce Jessica and Cliff Larrew, a married couple (and team!) who have decided to walk away from the 9 to 5 lifestyle and instead build a business which allows them to live very comfortably and have freedom and flexibility with their time. [Full Disclosure: As an affiliate, I receive compensation if you purchase through this link.]
What kind of business model do they have?
The easiest way to put it is this:
- Go to the store.
- Buy stuff.
- Ship said stuff to Amazon.
- People buy your stuff on Amazon.
- Amazon ships stuff directly to your customer for you.
- Earn profit.
In technical terms, this is called taking advantage of Amazon's FBA Program, FBA meaning Fulfillment-By-Amazon. It's a real thing, and people are making real money with it.
Amazon acts as a fulfillment center for your business. You sell stuff, they pack and ship it direct to the customer for you. They'll even handle the customer service too.
Just last year, Jessica and Cliff profited over $100,000. That's after Amazon's cut (30 percent) and the costs to buy the items that were sold.
At this point, you probably have a lot of questions going through your head. Trust me, I did too. I ask Jessica and Cliff ALL of those questions here in this episode.
Beyond the business model itself, we talk a lot about how Jessica and Cliff got started, and I was also very interested in what life was like as a husband and wife doing business together, since my wife and I have, in the past, casually talked about working together on something.
Before sharing the resources and links for this episode, I wanted to share what's really cool about what Jessica and Cliff are doing.
Although different than what I usually talk about, it is yet another example of a business model that allows flexibility and freedom in one's life. It's not 100 percent passive (nothing really is), as work still needs to be done to find the right items and ship them to Amazon, but you can start off small and grow as big as you want. Also, I love what Jessica says here:
“Our goal has never been to be the biggest Amazon seller out there. Just to make a full time income, that pays our bills, and takes only part time work to do it. We enjoy getting to spend most days at home and being free to do the things we love, when we choose to do them.”
Jessica and Cliff Larrew
A wife and husband combo who are making a living by re-selling products on Amazon. [Full Disclosure: As an affiliate, I receive compensation if you purchase through this link.]
- What kinds of stores you can find clearance products in?
- How to know if an item you buy is going to be profitable when you sell it on Amazon?
- Why would anyone buy something online for more than its being sold for at a store?
- Exactly how does this work—from the moment you buy something to the moment a person receives their item?
- How did you discover this business model, and how did you know it was going to work for you?
- Is this business model for everyone?
- How do you get started doing something like this?
- What are some of the most common mistakes, or mistakes you've made doing this?
- How often are you supposed to shop for stuff?
- What happens if you buy stuff that does not sell on Amazon?
- What is a typical day like with this business model?
- Items that they sell and how much they bought them for?
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Click the button to the right to download the whole episode in PDF form from start to finish.