Is this THE golden formula for making a million dollars with Amazon FBA?
We are going to have a look at a few burning issues regarding Ellen Lin’s – Million Dollar Golden Formula course and in this review we will be honest and unbiased based on my years of experience in the industry . At the end of this article, I’ll also tell you a much better alternative that can help you build a six figure online business at zero risk.
Ellen Lin’s course says that she will teach you how to increase your monthly online sales to climb up newer steps each time with simple steps, this one-time opportunity comes along for you to change how you have always operated your online business. With 30-days conditional guarantee attached, this course is definitely worth going for.
Ellen Lin’s course says that she will teach you how to increase your monthly online sales to climb up newer steps each time with simple steps, this one-time opportunity comes along for you to change how you have always operated your online business. With 30-days conditional guarantee attached, this course is definitely worth going for.
If you are looking to launch an online store on Amazon this might be the course for you!
According to Ellen, you can follow her strategies to scale your monthly sales and climb to new heights with simple steps.
But since there are so many gurus out there and Amazon is notorious for the intense competition, you might wonder if Ellen’s Golden Formula is really the answer to your business dream.
According to Ellen, you can follow her strategies to scale your monthly sales and climb to new heights with simple steps.
But since there are so many gurus out there and Amazon is notorious for the intense competition, you might wonder if Ellen’s Golden Formula is really the answer to your business dream.
1. What is Million Dollar Golden Formula?
Ellen Lin’s Million Dollar Golden Formula course consist of the following content:
• The process how to find the right niche set out in a step by step guideline and to validate your niche ideas
• The sourcing of products from the best suppliers and how to convert potential customers into sales
• The process how to find the right niche set out in a step by step guideline and to validate your niche ideas
• The sourcing of products from the best suppliers and how to convert potential customers into sales
• The way business executives and entrepreneurs should alter their mindset to overcome the ups and downs and generate steady sales
• Provides you with hacks to stay ahead of your competitors and manage the business-related risks that Amazon vendors would face
• Instill the entrepreneurship into the students of this course
• Shows you the best ways to scale your business while you just start to sell on Amazon
• Provides you with hacks to stay ahead of your competitors and manage the business-related risks that Amazon vendors would face
• Instill the entrepreneurship into the students of this course
• Shows you the best ways to scale your business while you just start to sell on Amazon
2. Who is Ellen Lin?
Born in New Taipei City, Taiwan Ellen Lin immigrated to the Los Angeles when she was 14 years old.
She has published some business books in her career one of them “How I Built a Million Dollar Online Store From $600: Your step-by-step guide to building financial freedom through E-commerce Entrepreneurship” is an Amazon best seller.
Ellen Lin is a 7-Figure E-commerce Entrepreneur, E-Commerce coach and International Speaker who spoke at a Fortune 500 Company and TEDx.
She started as a small vendor on eBay to become one a top seller on Amazon, reaching two million dollars in sales.
She started as a small vendor on eBay to become one a top seller on Amazon, reaching two million dollars in sales.
3. How Does Amazon FBA?
The way it work is:
1. You send your products to Amazon.
2. They store them in their warehouses.
3. When a customer orders one of your products, Amazon picks, packs, ships and tracks the order for you.
4. They also handle returns and refunds.
All this does come at a price. Amazon charges both storage fees and fulfillment fees.
However, those fees include Amazon’s stellar 24/7 customer service, the cost of shipping goods to customers and access to one of the largest and most advanced fulfillment networks in the world.
1. You send your products to Amazon.
2. They store them in their warehouses.
3. When a customer orders one of your products, Amazon picks, packs, ships and tracks the order for you.
4. They also handle returns and refunds.
All this does come at a price. Amazon charges both storage fees and fulfillment fees.
However, those fees include Amazon’s stellar 24/7 customer service, the cost of shipping goods to customers and access to one of the largest and most advanced fulfillment networks in the world.
Amazon’s FBA program allows any business, no matter how small, to get their products in front of millions of customers and take advantage of the largest fulfillment network in the world.It also allows you to leverage their first-class customer service and storage capabilities.
Plus, customers are more likely to trust your products when they’re backed by Amazon, so it’s a great way to get more sales and increase brand recognition.Amazon takes a huge load off your plate by handling all this.Although there are a few disadvantages to the FBA program, you can easily minimize them by using the strategies presented here.
4. Is Amazon FBA Legit or a Scam?
It's legit although there are a bunch of opportunists selling the get rich quick dream. I have done 1 & 2. You can send your items to AZ and they will ship when purchased by the customer. Or you can keep the items and ship them to the customer yourself.
Since its release, Amazon FBA has become extremely popular as a way to make money online. But, with all the hype and the various products out there, Amazon FBA can end up looking a little bit like a scam. After all, some of the success stories for Amazon FBA sound like pipe dreams and they’re the types of claims that you would expect on a scam site.
Since its release, Amazon FBA has become extremely popular as a way to make money online. But, with all the hype and the various products out there, Amazon FBA can end up looking a little bit like a scam. After all, some of the success stories for Amazon FBA sound like pipe dreams and they’re the types of claims that you would expect on a scam site.
Are slogans like these a scam? No. It WAS quite possible to obtain these figures a few years ago. In 2021, not so much... But I'll talk more about that later.
So, it's very obvious that not only is the FBA program not a scam, it's actually an exciting opportunity. The concept is simple, and with the extra help of some some online courses, getting from newbie-status to your first sale isn't very hard to imagine. Not only is it exciting because there's a lot of money to be made in the world of online shopping, but it's also something you can do in the evenings or on weekends as a second job or a potential job replacement.
So, it's very obvious that not only is the FBA program not a scam, it's actually an exciting opportunity. The concept is simple, and with the extra help of some some online courses, getting from newbie-status to your first sale isn't very hard to imagine. Not only is it exciting because there's a lot of money to be made in the world of online shopping, but it's also something you can do in the evenings or on weekends as a second job or a potential job replacement.
5. How much does Ellen's Million Dollar Golden Formula Course Cost? Any Specials?
With just $169/month for 12-months course, you could just be entering into your life-time goal for a list of achievement that awaits you.
If you are not sure, remember the 30-days conditional money back guarantee that you have with you.
Pros of Million Dollar Golden Formula
6. Good Content
The course is informative and comprehensive in content and covers most of the aspects needed to start with Amazon FBA.
7. Top Notch Mentorship
The mentorship offered is impressive and Ellen Lin is keen to help. It seems that her students are happy with the interactions they receive from her.
8. Ellen Lin
Ellen's easy-going personality and no-frill instructions is a major plus for this programme. I found her to be knowledgeable and experienced with Amazon business.
9. Refund Policy
In order to be eligible for refund, you must complete Stage 1 and Stage 2 on this worksheet and submit to support@ellenpro.com within 30 days of purchase.
Cons of Million Dollar Golden Formula
10. Time Consuming
Though Amazon does a lot of the work for you, it still requires a lot of work to get a product listing up and optimized.
11. Challenging to become a leader in the industry
Running an Amazon FBA business is challenging but I did feel Ellen slightly under-emphasized just how much hard work it takes to be a leading seller in 2020.
12. High Startup cost
The cost involved to run a business on Amazon is significant as you need to buy stock and spend money on advertising. Later expenditure is downplayed in the promotion of Ellen’s programme.
13. Difficulties in tracking inventory
The other issue is that it’s difficult to keep track of FBA inventory once it becomes too much. A hundred to a couple of hundred products are easy to keep track of, and they’ll fit on one page of your Seller Central dashboard.
Once those products reach the thousands, though, it will be hard to really be abreast of what inventory you have, what you need, and what you should cut back on.
Sure, you’ll be able to track your best sellers, but aside from that, it’ll be difficult – especially since the whole process is so automated.
14. Do Ellen Lin's Students Actually Make Money?
Lin has a history of turning her students who are not-well-aware of the world into business-makers, earning $50k/year even though they started from scratch.
Standing as a mastermind, solving problems around her; Ellen is the woman teaching financial freedom to all those who are willing to learn and teaches people to make ways not into cities but newer countries and even across continents!
It is not just about being lucky enough to be the right person at the right place on the right time sums her experiences and shares possible ways of success with people under the Ellen's courses, so people learn financial freedom and can successfully make their way to success
15. Who's a Good Fit for Million Dollar Golden Formula?
Ellen makes it clear that starting an Amazon FBA business requires persistence and relentless focus, which is definitely not suitable for the faint of heart. To launch a business on Amazon, you will need $15-20k, at least.
Besides, since you can’t get started without any knowledge, you have to pay for an FBA course such as Million Dollar Golden Formula which is quite expensive to novices.Moreover, you have to spend money on product samples and inventory, labeling and shipping costs, product launch services/pay-per-click advertising and Amazon Marketing Services.
The first 10k will be quickly exhausted once you start selling on Bezo’s platform.
In one word, it is time consuming and costs a lot of money. So, you must think carefully if you really want to risk your hard earned money.
Taking all the facts into account, it is clear that this course is better suited to the entrepreneur that’s well established.
Taking all the facts into account, it is clear that this course is better suited to the entrepreneur that’s well established.
16. What alternatives are there to Ellen's Million Dollar Golden Formula?
Here are two picks you might consider instead of Ellen's course:
FBA NINJA MASTERCLASS COURSE
The FBA Ninja Masterclass does have some holes, but you can really see glimpses into Kevin David's brilliance when it comes to his FB Ads Training that he includes.
The FBA Ninja Masterclass does have some holes, but you can really see glimpses into Kevin David's brilliance when it comes to his FB Ads Training that he includes.
Overall, the Amazon FBA Ninja Course is affordably priced and enables you to exchange gold nuggets with other Private Label Ninjas in the FB group.
Another option:
K&T have some helpful hacks in this course. For example, if you're new to the FBA game, one little gem that you might appreciate is to be sure that you ask your supplier for both the unit price and the shipping price of your products.
This course do a pretty good job at covering a lot of the details product listing construction as well as providing specific suggestions on product shipping and packaging, like how to tell your supplier where to label your items and proactively fixing some of the issues that shipping your products via plane brings.
Finally, if you're the type that needs motivation or hype, this course is for you!
How Does Amazon FBA Stand up to Others? Like Dropshipping, & Lead Generation?
Everything changes when you go local. Lead Generation provides much smoother / easier path to victory (your first 6 figure income online) because by going local it cuts out the big whales that exist in eCom or Internet Marketing. I'm not saying that you should be deathly afraid of some competition, in business you should always look to have superior skills so you can compete with anybody but with that being said there is something to the fact that a newbie that's still working a 9 to 5 job has limited resources & time. So one must choose their battles carefully! Going up against some of the eCom giants that exist on Amazon FBA is like an amateur boxer getting into a ring with a prime Mike Tyson.
Competition / Market Saturation is the main reason most people will fail to create their laptop lifestyle. It sides more favorably with lead generation by a significant degree, its one of the main reasons why I chose lead generation over Amazon FBA as my primary focus.
Competition / Market Saturation is the main reason most people will fail to create their laptop lifestyle. It sides more favorably with lead generation by a significant degree, its one of the main reasons why I chose lead generation over Amazon FBA as my primary focus.
17. Control:
Like any other warehouse operation, if you have hundreds, if not thousands of products in Amazon FBA, it’s highly likely that not all of them will sell. You’ll probably end up with quite a bit of stale inventory that you are paying rent for and not selling.
The other issue is that it’s difficult to keep track of FBA inventory once it becomes too much. A hundred to a couple of hundred products are easy to keep track of, and they’ll fit on one page of your Seller Central dashboard.
Once those products reach the thousands, though, it will be hard to really be abreast of what inventory you have, what you need, and what you should cut back on. Sure, you’ll be able to track your best sellers, but aside from that, it’ll be difficult – especially since the whole process is so automated.
With Lead Generation You own the asset – don’t sell it. Not like building website for someone and you get one-time cheque.
18. Time:
With Amazon FBA You are responsible for delivering your inventory to Amazon’s warehouses, and that can be a headache – especially considering Amazon’s strict ASIN/UPC system, which means you have to pack and label your products individually.
Lead Generation on the other hand gives you more advantages because you don't merely want money, you want freedom, the ability to go where you want, when you want, with whom you want.
And not have to worry about how you're going to ask for the time off
or who's going to foot the bill to the exotic location.
The passivity of my lead gen business enabled me to free up time for myself.
or who's going to foot the bill to the exotic location.
The passivity of my lead gen business enabled me to free up time for myself.
CONCLUSION
If you are tired of trying techniques to sell your products on Amazon and failing, Ellen’s Million Dollar Golden Formula might be the answer you need.
She's been featured on Grant Cardone TV, The Huffington Post, NBC, FOX, etc., so she is a raging success in the online biz world.
Her course teaches you how to increase your monthly Amazon online sales with simple to implement steps.
With 30-days conditional guarantee attached, this course is definitely worth going for if you are convinced that Amazon FBA is the way to go.
PARTING THOUGHTS ON DIGITAL MARKETING
19. Ellen's Course works, but Generating Leads is Better, Here's Why:
Here are five quick reasons why Amazon FBA is not so great:
1. FBA costs money.
Amazon charges both storage fees and fulfillment fees.You’ll need to understand how quickly your inventory moves in order to minimize storage fees and you’ll want to make sure your products are still profitable after paying Amazon’s fulfillment fees.
Amazon charges both storage fees and fulfillment fees.You’ll need to understand how quickly your inventory moves in order to minimize storage fees and you’ll want to make sure your products are still profitable after paying Amazon’s fulfillment fees.
2. Long-term storage fees.
Storage fees aren’t too bad unless your items sit for over six months.Amazon is in the business of selling products, not storing them.So they make sure you pay if your products aren’t selling.If you let your inventory sit too long, you could be faced with sky-high storage fees.
3. You may see more returns.
The flip side of having an easy returns process is that customers are more likely to make returns.You may see more impulse and test buys from customers, which can result in higher rates of returns.
4. Product prep can be difficult.
Amazon has strict guidelines on how to prepare and ship your items to them.Products must be correctly entered into Amazon’s database, properly labeled and then shipped to the right warehouses.It takes time to get the hang of all the details when you’re first starting out.
5. Tracking inventory can be difficult.
It can be challenging to stay on top of what products you have available, what you need to order, and what’s not selling when everything is out of view.Out of sight, out of mind.It’s especially difficult to keep inventory changes in sync if you sell on multiple channels.
Want to know why I quit Amazon and focus all my time on local lead gen instead?
Check it out below:
MARKET SATURATION & COMPETITION
You're going head to head with literally millions of sellers covering over 6000 different product niches. Breaking into an established niche is next to impossible - and finding untapped niches are becoming increasingly rare.
MASSIVE START UP COSTS
Start up costs require roughly $5000 in initial inventory, $10,000 in advertising, and $3000 in listing optimization, packaging, and branding. All in all, if you want to have a chance at success, you'll need to spend roughly $15,000 to $20,000 just as an initial investment.
AMAZON BASICS & CHINESE COPYCATS
Nearly all successful products are copied and resold by either Amazon or Chinese manufacturers who then undercut their competition at margins that only billion dollar companies can afford. Every time you see an Amazon Basics or Essentials product at the top ranked listing, it's likely that dozens of independent sellers went out of business.
NO LONG-TERM ASSETS
The key to long term wealth is in building and owning valuable assets, but with Amazon FBA, you own nothing. You're an enslaved middleman to Amazon, who care only about market domination and making a profit. Remember, you're there to make them money - and your use of Amazon is a privilege they grant you; a privilege they can revoke at any time.
LONG START UP TIME
Between identifying products and suppliers, passing quality assurance, securing inventory, and then product ranking, you're looking at over a year before you even have a chance at seeing a net positive income.
LOW PROFIT MARGINS
Profit margins are extremely low, meaning the only real way to make money is through mass ordering. Successful Amazon sellers often make less than 10% profit off of their sales.
ACCOUNT DEACTIVATIONS
Amazon's terms of service are fickle and ever changing. Bans are frequent and can spell disaster for FBA startups and established businesses alike.
Local Lead Generation
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