Dillon Carter

Entrepreneur, Hacker and Future Mad Scientist 🚀☕

Category: Lifestyle Page 2 of 9

How To Use System Stacking For Incredible Lifestyle Results

A thought randomly occurred to me one morning while checking on my current sales numbers and replying to a message left from my VA – There are systems I’m currently using that when put together make incredible results possible. With system stacking, no longer did 2 + 2 = 4, instead 2 + 2 = 10…

 

I’m going to break down the current systems I use on a monthly basis to travel for free whenever I want, automate a growing cash flow business and build my wealth.

 

How To Create The Ultimate Trifecta of Systems

Stacking travel, business and automation for 10x output

 

If you’ve ever tried losing weight you may have started with simply working out a few days a week. This may have helped you make progress, but something profound happened when you paired working out with a better diet – Your results most likely would have doubled because of the two working together. This is the idea behind System Stacking. It’s taking two already amazing things, but then pairing them together in a way that increases the output of each system.

 

Travel hacking isn’t something new and I’ve talked about it for some time now. Using points and miles is an incredible way to begin traveling for a vastly decreased cost. Travel hacking is one of the easiest systems to put into place to increase your lifestyle and quality of life. So the first system I’ve put into place is a growing travel hacking hobby that I greatly benefit from.

 

The next and more important system in my opinion is the cash flow (Muse) business that provides me with increased and consistent income every month. This business, once set up optimally will allow me to move massive amounts of products without ever handling inventory, making sales or doing any sort of marketing. Using my business model I’m able to travel the world (using my points) and still have a growing income from anywhere in the world.

 

The last system that completes the trifecta of this stacked system is outsourcing. Again, nothing new, but think about how better your life and business becomes simply by outsourcing business and life tasks that you shouldn’t or don’t want to be doing. The key for me in using outsourcing is to automate the majority of this business so that I’m not creating a new job for myself, but creating an automated system that has one sole purpose – to provide me cash every single month.

 

On their own, each of the three systems provides an incredible benefit – Decreased travel costs, a monthly income and a VA to ensure that the income created from your cash flow business is never tied to your input time, but something amazing happens when you place these three specific systems together.

 

Travel hacking is all about building points and using sign up bonuses to create a massive amount of those points very quickly. This is typically done through various MS (manufactured spending) strategies so you aren’t actually required to spend the $4,000 within four months on three different cards at the same time. Pairing the travel hacking system with a cash flow system, especially one that has a large inventory cost each month means you can create a massive amount of points without paying any fees that are typically created from MS methods. On top of getting the sign up bonuses for a larger amount of cards, because of your spending, you are typically getting 2x points on ALL spending even after you reach the sign up bonus. By putting every cost on your credit cards you dramatically increase the amount of points and miles to can use each year.

 

A cash flow business should never be tied to your time. It should provide income regardless of how many hours you put in each week and your current location around the world. In order to effectively make this happen is by using subsystems and an affordable labor force. For me this is all solved through proper outsourcing with a virtual assistant. My VA is able to do everything I don’t want to do. My VA handles just about every system within my business and directly contributes to growing it. Not only does this mean less work for me, but means more income month over month.

 

You can see how each systems contributes to the other, creating a trifecta that dramatically increases their individual benefits to me. More travel without the cost, freedom of location thanks to a consistent income from my cash flow business and less work load thanks to my VA. This directly sums up an idea I’ve been considering for quite some time. There are three major things that can grant ultimate freedom when used together, similar to system stacking.

 

Freedom of location, Freedom of resources and Freedom of Time.

 

When you have all three you have true freedom. Many people have one or two, but those who truly live a great life have all three. The three freedoms are just the idea, whereas system stacking is the application and practice of achieving such an idea.

 

Final Thoughts

 

I want you to really think deeply about the above idea and system stacking, and how it can dramatically affect your life for the better. Start by putting one of the above systems in place and add-on from there. The hardest system to implement is the cash flow business, but you can start reaping the benefits from travel hacking and a VA immediately. You can even use your VA to assist you in building your cash flow business. There is no right way to do this, just find the way that works best for you and grow from there.

 

I’ll be delcing deeper on the idea of systems and how they play a major part in creating your ideal lifestyle. I’m building a small private group of people with the sole purpose of developing and publishing white papers on the subject matter of 10xing your quality of life. If you’re interested in becoming a part of this private group, leave a comment below and we can talk about the idea more specifically.

 

The 4 Hour Work Week Muse – Automating Your Amazon Business and Taking It Online Completely

Such an interesting topic to begin with. Timothy Ferriss’ bestselling book The 4 Hour Work Week blew people’s minds all over the world. It turned cubicle slaves into full-fledged entrepreneurs and vagabonds. Although the book was written around ten years ago, a question has always plagued my mind — Does the Muse still exist?

 

A Muse is a business with a sole purpose to provide consistent cash flow for the owner. It’s not going to change the world and it isn’t brought to life to create a new job for the owner. It’s about solving your resource requirements to live the ideal life you want to live. Thousands of people have created successful Muse businesses since the publication of the book, but the success of the business model always eluded me.

 

With a sense of envy, I watched others build their successful Muse businesses from dropshipping to informational products. I was grateful to create two profitable courses that pre-sold for $1,000 each before I ever lifted a finger, but after the launch, nothing. Zero sales and no idea where to go, the cash flow became non-existent. I just about gave up on the idea that someone could start a cash flow business without much effort and live the life they conceived as ideal.

 

It wasn’t until I started this Amazon business that I really began to see a modern rendition of a Muse business. At first, this business requires a lot of time, mainly doing Retail Arbitrage (sourcing products from local stores), processing the products and then shipping them into Amazon. But even this business model is quite something, as once I ship products into Amazon, I have nothing left to do but watch sales come pouring in.

 

But I want to run this business from a laptop anywhere in the world. For that to happen I’ll need to eliminate myself from the very tasks that ensure I have sufficient inventory to make enough sales each month.

 

Removing Yourself From the Equation

How to rapidly scale an Amazon FBA business without touching a single piece of inventory

 

I knew there was a way to tweak this business model into a full-fledge Muse business and I recently developed the system. If you’re in this business you’ll notice early on that the bulk of your work is sourcing and processing, all things that are easily outsourceable.

 

If we start with sourcing we can easily break down how to outsource the whole process to scale into sourcing thousands of units each month. I’ve gotten to a decent area in my business where I know I can spend a whole day and spend 100% of the capital I have reserved for inventory. That’s great, but the issue is not being able to replicate myself properly and the fact that I’m constantly sourcing new products.

 

The quick fix for this is to hire a VA (Virtual Assistant) to do all preliminary sourcing for you for roughly $4 an hour (if not cheaper!) and eliminate yourself from the grunt work. I’m currently training a VA I worked with years ago to do just this. The way it works is quite simple enough. My VA will search through all products on a given website and check if they meet my criteria. For this the product must make a minimum of $5 in profit per unit, meet all category ranking criteria and provide at least 50% ROI, plus a few other requirements to be considered.

 

I’ve created a simple spreadsheet that my VA will input all relevant data once she’s found a great product for us to purchase. I also have her run the data for the product to formulate how many units of that specific product we can sell each month and how much total profit adding that one new product would add to our business.

 

Anatomy of A Modern Muse

 

All that is left for me to do is go through that spreadsheet and pick the products that are really worth our time and which aren’t. The ones that are, are added to a master inventory list for repeated purchasing each month. Although I’ll be personally making the purchases, I could easily outsourcing this task as each month I’ll need to refill my inventory to keep sales consistent. A VA can easily use my master list, go through inventory numbers and determine how much of each product needs to be purchased and when. But for now, I’ll keep this as my sole role until comfortable enough to make the handoff.

 

At this point all inventory is shipped directly to me for listing, quality control and shipping into an Amazon warehouse facility. This work isn’t that terrible, but it is quite tedious over time.

 

Luckily, in dealing with a larger quantity of the same product, efficiency kicks in and time required is decreased. The issue with me personally doing this work is that I have to be home to do it. I can’t run this business from my laptop in Argentina or spend a whole week in the mountains with my girlfriend. The solution to this is quite simple and actually included within Tim’s book. A fulfillment center is nothing new, but a new model of the business has been created just for Amazon based businesses. Instead of shipping inventory to myself, I can send it into a “Prep” center who will receive, repackage to Amazon’s standards, label and ship the product for me. All of this for roughly $1.35 per unit.

 

I’m potentially giving up a decent amount of my profit, but with my sourcing requirements, taking out $1.35 per unit still leaves me with quite a bit of profit and decreasing my workload by more than half.

 

The only work left for me to personally do is repurchase inventory each month of products that are consistently selling (again, easily outsourced as well) and go over my VA’s list of potential new products to add for increased revenue and profit. All easily done from my laptop anywhere in the world.

There is a resurgence of a Muse business model using existing channels instead of creating your own website and paying for traffic. This vastly decreases the cost of muse creation and allows you to quickly set up and scale your muse business to cover everything listed on your Dreamline.

 

Life becomes incredibly interesting when you match travel hacking with a Muse business ran from a laptop. Suddenly the global world opens up to you. Not only can you travel for near free thanks to travel hacking, but you can do so for increased periods of time thanks to the cash flow provided by your Muse business.  I’m so close to achieving one of my yearly goals in creating a business that generates $10,000 a month in income while in college, but I’ll be reinvesting all of my profits back into expanding inventory to scale up 10x faster each month.

 

Resources and Tools

 

  1. Upwork (https://www.upwork.com)

This is where I find and hire a VA to do just about anything I need done, including sourcing products to increase my cash flow Muse business.

 

  1. Prime Zero Prep (https://primezeroprep.com/)

The company I’m currently researching to handle all of my inventory needs before units are shipped into Amazon directly for sales.

 

    3. Restock Pro (https://www.ecomengine.com/restockpro)

Restock Pro helps in the restocking department. Rather than me doing all of the forecastings myself, Restock Pro does this and send me a weekly report to go through. Total time saved: 10+ hours /week.

 

    4. Vendrive CRM (https://www.vendrive.com/)

Vendrive is a CRM tool that helps me manage all of my suppliers and build an actual pipeline to put potential suppliers through. Instead of relying on spreadsheet after spreadsheet, I use Vendrive to manage it all for me and have my VA enter suppliers here. 

 

    5. Aura Intelligent Repricing (https://goaura.com/)

Aura is a new breed of repricing tools. Instead of charging outrageous fees for high performance or offer discounted tiers for lower performance, it gives the highest performance for a lower cost compared to the competition like Informed or BQool. 

 

[Goal Completed] Becoming a Travel Hacking Master

Another awesome goal knocked off my list this year! I’ve always been a massive fan of Jason Bourne. Not just the movies, but the skills and assets he has as a person.

 

Have you noticed how he just appears in a new city or country out of nowhere?

 

Someone is paying for his plane ticket and hotel rooms and judging by his relationship with the C.I.A., they won’t be helping out anytime soon.

 

So what’s the closest a normal person can get to that kind of location freedom? The amazing art of Travel Hacking! This is a unique hobby of accumulating massive amounts of miles and points that allow you to travel essentially for free.

 

It’s nothing like your uncle Bill who has built up 50,000 Amex points over ten years. Oh no, this is how to build a storage of millions of points over the course of a single year and traveling your heart out.

 

In the past I’ve written posts on how I get $500 in free travel every month or a pretty general overview of travel hacking and becoming a global spy like Jason Bourne.

 

The reason I feel that I’ve successfully completed this goal is because of a few things – I’ve accumulated roughly 200,000 points over the last year, took a weekend trip that would have cost $1,000 for only $100 with my girlfriend and have begun to write for a friends site (10xtravel.com) on this very subject. Needless to say, I’ve got this down.

 

travel hacking post

Our Weekend Trip To Savannah For $100 (Included a Jr. Suite, $118 dinner and $35 drinks at the bar, est. $1,000)

 

I’m now one step closer to actually being the real life Jason Bourne.

 

This has become a very strong hobby for myself and something I talk frequently with others about. I now have the skillset to travel anywhere, whenever I want.  

 

I’ll continue to build up my points stash for future trips and random musings around the world and share my methods, destinations and guides to all things becoming Jason Bourne.

 

The 6 Months to 6 Figures Strategy For Building a Successful Amazon Business

So I’m really in this now. I lost my job, am living off my savings and attempting to build this Amazon FBA business full time and I couldn’t be more happier!

 

I am a little worried though… After all, I only have a certain amount of runway until I’ll need to get a job to cover my bills.

IMG_4626

One of my recent scanning trips

 

Instead of freaking out I glanced over at my bookshelf for some reassurance. The book that quickly grabbed my attention was 6 Months to 6 figures by Peter Voogd. Although this book isn’t the best when it comes to formatting, it is a great illustration for reverse engineering your life and business.

 

The Strategy

 

The strategy is quite simple and it starts with a question – Where do you want to be in 6 months?

 

I’ve recently become a massive fan of doing 30 day sprints. This allows you to go full force and then pull back a bit to recover, analyze and reproach your strategy. The book is also great at forcing you to become hyper focused on a finite amount of goals and then breaking them down even further each month.

 

Here is what that breakdown looks like for my Amazon FBA business:

 

5 Goals For The Next 6 Months:

  • Maintain 3,000 units of inventory
  • Produce $5,000 a month of profit  
  • Have 10 wholesale accounts
  • Have clear systems of growth in place
  • Have enough capital ($5,000) to strategically grow wholesale accounts

 

So this is the 6 month plan of attack. The author takes it a step further by making you focus in on what your 3 month goals are.

 

Top 3 Goals For Next 90 Days:

  • Send in 2,000 units
  • Bring in $2,000 in profit each month
  • Have 3 wholesale accounts

 

Now let’s break it down month by month to become hyper-focused.

 

Top 3 Goals For Month 1:

  • Source product 5 days a week no matter what
  • Find replenishable products to consistently purchase
  • Send shipments every Monday

 

Top 3 Goals For Month 2:

  • Increase purchased units per day
  • Find and secure 1 wholesale account
  • Increase average shipment from 3 boxes to 7 boxes every Monday

 

Top 3 Goals For Month 3:

  • Add 2 new wholesale accounts
  • Raise inventory from 2,000 units to 3,500 units
  • Increase efficiency of labeling, packing and shipping product.

 

By the end of the 3 months I should have a very profitable and vastly growing business with minor systems to lend to scalability. At the end of the 6 months I hope to reach my total laid of goals for this business – 10 wholesale accounts, $5,000 per month in profit and maintain a minimum of 3,000 units of available inventory.

 

This isn’t going to be easy at all, but I have the time and resources to make it happen. I even drug my girlfriend along after class earlier today to scan at Toys ‘R Us which I was able to come out with another $100 in profitable products.

 

I believe the real key to having a large-scale Amazon business is wholesaling and private labeling and for now I’ll grow as quickly as I can into securing wholesale accounts. Instead of me going from store to store, scanning every item I lay my eyes on, I can scan an email and have 1,000 units delivered directly to me.

 

This will greatly reduce the amount of time required to maintain and even build this business over the next year.

 

If you have any questions about starting an Amazon FBA business I’d love to hear from you in the comments. I’m not a pro, but I’m putting this thing into hyperdrive!   

Getting Fired and Building My Amazon FBA Business Full Time

So, I got fired. Turns out having a normal conversation with your part-time GM could turn very irrational on their end and end up you being let go. To sum it up, shit happens.

 

I learned a lot from the conversation with my GM and how some people simply cannot accept systemic gaps and pitfalls in their (the owners) business. Ego and pride can get too much in the way and blind you to massive opportunities to increase performance.

 

I saw this coming early on as there was a clear shift in the work environment. That’s the whole reason I started this Amazon FBA business. I wanted to grow it enough until I could quit. Luckily, my GM sped up the timeline a bit faster than I would.

 

So now I’m giving this a go full-time. It’s not easy, as it’s a major hustle each day with some days turning up zero products, but I can see this growing quite rapidly as I turn my full attention towards it.

 

The Different Amazon FBA Business Models

 

There are different ways to make money with Amazon FBA – Retail Arbitrage, Online Arbitrage, Wholesaling and Private Label.

 

I focus the majority of my efforts on Retail Arbitrage as it’s the easiest way to start making a profit from week one. Online Arbitrage is essentially the same thing, except you purchase your products online.

 

The goal is to eventually move into Wholesaling products, which allows you to purchase bulk orders of profitable products. Instead of purchasing one unit of product A and 3 units of product B, I would bulk order 100-500 units of product A and perhaps even 1,000 units of product B.

 

Even better, I wouldn’t have to run around from store to store every day. I could do all of this from my laptop while using my miles and points to travel wherever I’d like with my girlfriend.

 

How I’m Currently Getting Along

 

This was a very slow process and I really had to jump out of my comfort zone while scanning products on my phone in local stores.

 

I got buried pretty deep into a slump where I went a few weeks without finding any profitable products. I realized I was spending way too much of my time on just clearance isles. Sure, clearance aisles are a great starting point, but you have to take an extra thirty minutes to an hour on aisles that aren’t clearance.

 

Amazon FBA Products

Two store haul worth $147.19 Profit (3 hours worth of work!)

Making this switch has gotten me back in the game in a major way. I spent a few hours in two stores earlier today and came out with $147 dollars in profitable items which I’ll have shipped out and listed by the end of tomorrow.

 

So, for now, I’ll continue focusing on Retail Arbitrage with a sprinkle of Online Arbitrage, at least until The Wholesale Formula course opens back up and I can jump full force into wholesaling like I’d like to do.

 

I Am Taking A Risk Though

 

I can’t fully sustain doing this full-time for long. I have a few months of runway to get things up and running before I’ll need to get a job to cover my bills until I’m moving the units needed each month.

 

Amazon business sales report

Current Months Sales…

So this is a risk, like any other business. The good news is that I have a decent amount of time until the summer semester is over to ship the needed amount of units to generate enough profit to pay myself and grow.

 

My Inventory Goals

 

With Amazon it’s all about “feeding the beast”. The more units you have at the Amazon warehouse, the more sales you’ll get each day.

 

Amazon allows you to keep 5,000 normal size units at any given time.

 

My first goal is to have 1,000 units of products in inventory at any given time and then increase that amount as quickly as possible.

 

From what I’ve gathered having roughly 3,000 units should generate around $300 in sales a day. If you’ve purchase products with good enough margins you should have $100 in net profits each day from that amount of sales.

 

This means that I only need 1,500 units in inventory to reach my personal profit goals to go full time.

 

This is going to take a massive amount of effort. I’m talking Gary V kind of hustle.

 

With limited runway and capital, I’ll have to get creative and move product as fastly as I possibly can.

 

I’ll keep you posted throughout this journey as best I possibly can.

Page 2 of 9

Powered by WordPress & Theme by Anders Norén