$2 Cookbook Into 7-Figure Amazon Business – Gaye Lisby
Gaye Lisby runs a partner group of ours called the Amazon Seller Tribe. She helps to coach a group of sellers who range from just starting out to $7 million dollars in annual sales! Find out how this Grandma turned a $2 cookbook into a 7-figure Amazon business after a drastic life change forced her to become self-sufficient! All coming up in this episode of the Amazon Seller Podcast!
——–FULL SHOW TRANSCRIPT——–
Hey everyone, how are you doing? This is Andy Slamans from amazing freedom. Today we’re going to bring you another 100 real sellers and the 100 real seller series. If you’ve not watched the previous ones, I highly encourage you to go back. The very first one we started was with Steve Simonson and then there have been several after Steve that have just been phenomenal interviews again with folks who are really selling on Amazon. And so today we have a very special guest, a very close friend and partner of mine who’s been selling on Amazon. Was it 2015 when you first started Gaye?
2014 so, and our space, that’s like veteran status, so many newer folks are coming online and that’s awesome. That’s great. So today we’re going to talk with Gaye Lisby. She runs a partner group of ours called the Amazon Seller Tribe. If you’re listening on the podcast, Gaye runs a phenomenal group and it’s almost all about sourcing online arbitrage, retail arbitrage, a little bit of liquidation. And there are some phenomenal sellers in that group from folks just starting out to folks selling over $7 million a year. And it really is a group that is, has it just a tremendous amount of engagement. We’ll talk a little bit about that group a little later in the interview. And so yeah, you’ll definitely want to hear about that group.
I’m sure there’ll probably be some folks watching that will comment below this video if you’re watching on Facebook and they’ll share some testimonies about that group as well. So Gaye, let’s get right into it because this year is, is about 100 real sellers. And so I want to hear your story about how you first started selling on Amazon and then when you went all in. So let’s just get right into it. How’d you first start about, how’d you first hear about selling on Amazon?
Well, so, so the story actually begins when my life was falling apart. As many people find those critical pivotal moments in their lives when those kinds of things happen. And so, you know I had been married for almost 30 years and then all of a sudden I realized my marriage wasn’t what I thought it was. I rather say that then get into the details because as you know, Andy, a marriage is a very complex and private matter.
But unfortunately, I found myself as a middle-aged woman going, wait a minute, I have to start completely over. And when I had to leave my marriage, I didn’t have anything. I really, I was going through a period of time where I’d had, I was having very unusual sickness and I, you know, I’m always that kind of person that’s been just as healthy as a horse, you know, I could just do anything, pick up anything, I can put my arms around, you know, that kind of thing. And I was really knocked off my feet. This was part of the thing that kind of really began to show up what was really going on in my marriage.
And but anyway, when I left, I had nothing, you know, my sister, fortunately, you know, she had at least a house and a car. So I moved into her spare bedroom and you know, she would try to carry me back and forth here and there and try to find work. I, you know, was going through that period of time and I had to leave teaching cause I had been a teacher, you know, so I couldn’t stand in the classroom because of the sickness. All of a sudden I’m like, you know, looking at this computer going, you know, how can this thing make me money? You know, there’s gotta be a way this ink and make me money, you know, cause I’m holed up here in my bedroom trying to recover and what, and so Andy, you know, the young man that, that kinda crossed my path, you know, I’d known him for years earlier and then met him again and online opportunity.
And so he started selling on Amazon and he would message me, you know, and at this time I’d gotten to feel well enough that I could be a caregiver for an elderly person and he would message me during the day and be like, “Gaye, you’ve got to do this. You know, you gotta do this”. You know, I’d be like, “ah, you know, I kind of feel like my ministry is here right now to, you know, help the elderly, you know, gentleman and you know, so he won’t be afraid when it’s time to go see Jesus and you know, and so I’m not”, and he’s like, “Hey, you gotta you gotta do this”. And so then like nine months into it, he posts his numbers and he had sold over $750,000 in his first nine months, 225,000 net profit. I was like, “well, my momma didn’t raise no dummy”.
So let me just recap. Let me recap. So you had no online experience prior to selling on Amazon?
No, I was so woefully and probably still am, you know, so woefully a knucklehead when it comes to, you know, technology and that sort of thing. You know, I didn’t know. I didn’t know and, but I just felt like this computer, you know, could make me some money. It turns out it did.
Wow. So I mean that’s, to me, that’s super encouraging to hear. Number one. So you had a chosen career, you were in that field for a long time. You know, you go through some difficulties and it’s interesting you know, those of us who have lived life any amount of time, you know, that those periods a lot of times are a forced change, right? We’re kind of like a new season starts and sometimes we don’t necessarily want that pain, you know, to enter in, but sometimes pain, right. Pushes us into a season. So it sounds like that’s kinda how you entered into the Amazon space, right? You go through some pain, never done anything online before this friend tells you about it. So, so what did you see them when as you started?
So, so then, so I was like, well, you know what, if he can do it, I can do it. Now. He is a young man, a brilliant man and a young man, an energetic man. You know, I’m a middle-aged grandma, you know, and I, but I, I said to myself, if he could do it, I can do it. And so, you know, I had, so I’ll tell you, I’ll show you the cookbook. Actually, this is the title here. So I had Coleen and I had met my sister and I had been to the Jasper, Arkansas museum of junk and we found this cookbook and I remembered it because when we lived on the farm, you know, my, my mom loved this cookbook and it’s like 1800 pages. It’s just a massive volume. I mean, Andy, if you want to know how to, to a butcher, a raccoon and prepare a meal with a raccoon or, or rabbit or venison or how to butcher a Hawk or you know, how to pickle anything, it’s in this cookbook. Right?
So we bought, I bought it for two bucks. Right. But I didn’t need it because I actually have the cookbook my mom cooked from and, but I just love this cookbook. So when I heard about Amazon and when Zach was like, Nah, you got to do this. And I was like, well this is gather up books around our house, you know, ’cause that’s what he’s told us to do. You know, just find stuff around your house, you know, some books and just get your first shipment in. So I sent this cookbook in with our first shipment. I bought this book for $2 and it sold for $89. And I was like, “this is crazy, are people nuts?”.
I was like, I didn’t understand that law of supply and demand that I didn’t understand. And you know, how regions were so different from ours and access to inventory and, and so you know, our eyes just went open. So we started shoving inventory. And so we really started about September, 2014 and then we ended to 2014 with $17,000 in ordered product sales. So we were like, wait a minute, you know, this could be something, you know, so 2015 we really enthusiastic and we got busy and we ended 2015 with $508,000 in ordered product sales.
Wow! So that was your, really just your first full-time year, right?
Yes, that was my first full year.
Those of you that are just watching this is Gaye Lisby, she started selling on Amazon 2014 her first full-time year 2015 she sold over $500,000. Now she had never done online business before. Never made any type of money on the computer or internet marketing or anything like that. She saw the potential when she picked up a cookbook, paid $2 for it, and then sold it for $89. I believe that’s what you said. That, that’s so cool. It’s similar to my story. Yeah. You know, my story. That’s how I started it. Started selling things around my house, started selling me no textbooks, and then just kind of progressed up from there. So tell us about that 2015. Your primary sourcing model, was it online arbitrage, retail arbitrage, you know, where you buy in bulk products, how did that work?
Everything, anything, you know, people still ask us, what do you sell on Amazon? And we say anything that’s moral, ethical, legal, and hopefully profitable. Right? So, so we sold anything we can and we also opened our eBay stores as well. And we would literally like you did Andy, we would go to thrift stores and source things on thrift stores. We know a little figurine, you know, that I paid a 50 cents for, you know, would sell for $20. A water bottle, this is nuts, but a water bottle that, that probably my kids had when they were growing up. You know, I bought for 50 cents and it was a 1994 Teenage Mutant Ninja Turtle water bottle. Even had the plastic straw that had bite marks around the top of the plastic straw. You know, I bought it for 50 cents at the thrift store and sold it on eBay for $20.
I still remember one of my first big thrift store buys and now we’re going to like start telling war stories, right? It was a Zumba kit brand new at the thrift store-bought it for $4 and it sold for $96 so you know, same with you, like man, when you, when you hit flips like that, that it really is, then you realize the supply and demand thing. And I know Chris Green, when I first started, often talked about that, you know that in one part of the country they’re not able to get it, you know, or it could be a product that, you know, went out of print. I’m sure like that cookbook, you know, there’s no public that’s selling that anymore, yet there’s still demand for it. So you saw that potential making these flips, right? Yeah, yeah. You’re selling whatever is profitable.
Just whatever. I mean, you know the water bottle we sold on eBay because you can’t sell that kind of stuff on Amazon. But we used eBay as kind of a feeder stream of income. So everything we sold on eBay when that landed in PayPal, that money landed in PayPal. We didn’t touch it for anything except buying more inventory to put into Amazon. And we saw how much more powerful Amazon platform was, but we could get used merchandise, sell it on eBay and then use that as a feeder stream of income because we didn’t have any money to work with. We literally would be taking like $20 or $30 per paycheck and using that to build our business.
Talk about that a little bit Gaye, cause you know, the, again, those folks that are listening on the podcast, we have some folks here that, you know, are just starting then other folks that are $10 million sellers, but talk about snowballing your business profits, you know, to continue to make that money grow.
Well, you know, this is, this is super important because, and this is, this is the thing that I think more people make the mistake of in the Amazon selling space or any retail space, is they take money from their business too soon. And so we’ve determined what we were going to do is do whatever hustle work. You know, I was a caregiver for an elderly surgeon, you know, and, and we were determined to use whatever money we could generate on the side to feed the business and take nothing to pay our bills, you know? And, and I really feel like this was a real key to our ability to scale so fast so people pull out, you know, you can’t eat your seed. A farmer doesn’t eat his seed, you know, if he does, he doesn’t have a, a crop to bring in. You know, and I’ve been to, you know, foreign countries on foreign mission trips and I know those people who live agricultural style lives, they will protect that seed more than anything and you can’t eat your seeds. So we just determine everything. We’re gonna roll back in. So by 2000, end of 2015 we had $508,000 order product sales. And that was the year we visited the bank.
That’s awesome. We’re going to get into that story in one second. I just want to reiterate what you said there of those of you that are watching or listening on the podcast. So important that you snowball those profits and right back into the business. I didn’t take any money out of my Amazon business until I hit $60,000 a month in sales. And then I was very careful about how much I was taking out because I knew it’s like the power of compound interest. That if I just kept rolling and snowballing off the backend, buying more profitable inventory, that that’s what was going to be the key to making my business grow.
So you know, those of you that are listening or watching, just make sure you’re keeping an eye on that. It’s so important and folks that are in business and they’ve been in business for a while, they realize that, you know, Warren Buffet, he’s a big believer and if you ever read, read his story, you know, he’s like the top 10 richest guys in the world. He’ll tell you when he first started out, it was all about snowballing, you know, just now profit right back into the business. And when I talked to Amazon sellers like you who are very successful and their business continues to grow, that’s often the theme I hear about when they first started. So say a first full-time year, you had over $500,000 in sales then, then what do you do? Let’s share that story.
So this is fun. So, you know, Colleen and I here. we’re middle-age women and struggling or figuring out things and so, you know, the Lord had just caused us to be able to by faith, you know, and just a series of his orchestration by a little three bedroom, two bath house in Hollister, just three doors up from where my mother lived. In fact, she was the one that actually found the house for us. And so, you know, of course we’re getting a mortgage and we’re paying on that. So in 2015, we ended up with 508,00 order product sales. And of that, our net profit was a nice fat wad of cash. We knew what we were going to do. I mean, we headed down to the bank December 31st, 2015 and we were thrilled in the, if you’ve seen the video, you can see, I’m just vibrating with excitement because we’re able to pay off our mortgage in one year. And to see our banker right across the face of that mortgage paid in full was, was freedom. I mean you talk about amazing freedom. That was amazing freedom to us.
That’s awesome. So she was able to pay off the mortgage of her house, right? Or the first full time you’re selling. And then what’s even more exciting as they continue to build their business, they have now, they sold that house and they move into a new place. And if you’re in the amazing freedom Facebook group, she actually made a video. She has like one of the most ideal setups. I’m super envious of it. She has her own warehouse in her backyard. What are you on there? About two acres?
So six acres of land, a just a beautiful home. And then she has a detached warehouse. But here’s the kicker, here’s the best thing ever. I got to spend some time with her over the summer. She has an indoor basketball court that’s to her warehouse. So I took my family there and my son played basketball the whole time we were there. And then the whole ride back home Gaye. He’s like begging me to build an indoor basketball court, you know, where we live here in Hershey. So the best I could do for him is I put a hoop up. It’s outside.
Okay. All right. Well, you know, that’s that, that’s so comical, you know, and that’s, you know, to me, but that, you know, we don’t play basketball. We have an indoor basketball court, you know, all the neighborhood kids could come. We would be the most popular grandmas Branson, I think. Actually the building was built by one of the country music singers that, you know, if you know anything about Branson, Missouri, you know, it’s full of country music shows and music shows and it’s, you know, a big tourist industry. But anyway, one of those guys was a singer-songwriter and he built that warehouse to work on his classic cars. And then he built the back part, that whole indoor basketball goals, court section for his granddaughter who is a Branson basketball player.
That’s awesome, so let’s go back to that 500,000, right, that you made your first full year selling. You are prepping everything out of?.
Our basement, our, you know, we had an unfinished basement at that little three bedroom, two bath home. We’d been able to get, we shoved millions of dollars worth of inventory out of there before we moved literally from our walkout basement. So, you know, that’s one of the reasons I say to people, you know when they come into Amazon Seller Tribe is start with what you have. You know, just be faithful to what you have. Show yourself creatively and work hard with what you have because you don’t know what will come next. You don’t, I had no idea that we would end up on six acres with our own warehouse in a backyard. I didn’t know that, but we were faithful with what we had and we shoved inventory out of there like crazy.
That’s great. So my story very similar. I started, I was prepping in a room I could barely turn around without hitting a wall. And that first year part-time I did like $120,000, but I moved a lot of product out of there. So, so you’re growing and then obviously you and your sister like you’re, you’re enjoying this and then you find this place, you know, this ideal place where you can prep where you can like back up, you know, full containers, you know if you need to and then your business continues to grow. So what are some things now? I’m sure you’re similar to me. I don’t do much prepping anymore. I outsource that. So what are some things that you started to do in your business or what are things that you work on because you realize now in order to scale, grow, you just can’t maybe do what you did before.
Right? Yeah, exactly that. Well, you know, Gary Ray is, is a co-leader of Amazon Seller Tribe and he always differentiates, differentiates between nickel work and dollar work and dollar work is buying. And I remember when I was I was Gary’s first coach, you know, Amazon Seller coach, which is kind of funny because he’s far outstripped anything I could ever have taught him since that time. But, but one of the things that I remember saying to him that I think was pivotal to him is the number one thing you have to remember is you are a buyer. You are a buyer. If you’re doing arbitrage, if you’re doing any troche, you are a buyer because the money is made in the buys. And so we began to focus on that.
So it was easy for us. You know, we’re in our you know, walkout basement in this little three bedroom/two bath home and we have two employees come into our basement every day, full time every day of the week to ship millions of dollars worth of product from our basement. Why? Because we’re the buyers because the buy begins and ends with us. It has to. And so we had to put ourselves in that place, become the very best buyers that we could be and prep and ship type of stuff. That’s something that’s by rote, you know, it doesn’t have variables like buying does. You know, there’s only one way to put that strap a tape on the box and, but there’s a number of different ways to maybe look at a potential buy. So we need to be doing that. It was the first thing that we did to help us scale our business.
That’s great because you know, whether you’re doing private labeling whether you are doing online arbitrage or retail arbitrage or even wholesale like the interview we did with Lloyd Nohl last week, the ultimate moneymaker really is understanding that buy right sourcing that product. And, and that’s really, like you just said, where the money’s made. So if you’re listening to this, you know, when you’re hitting those types of numbers and you’re still taping, you’re still packing. You probably need to back away from your business. And look at it and see what your goals are, how much you want to scale. Because like Gaye just said that type of work is not the way that you are going to be able to grow your business like you need to grow your business. You need to be spending as much time possibly sourcing again, whether that’s private label looking for other potential products in your niche or finding other products that and separate niches. The real money is having that eye write to find those products.
Yup. I own the buy. So one of the things that we had to understand very quickly is that when you, when you think of doing all parts of the business yourself, you end up first you have to do that to feel that, to be that entrepreneur. But then once you get to something where it’s become a rote or a habit, as soon as it can be rote or habit, that’s something you need to shift off to someone else. So you can create a process sheet, shift that off to someone else and scale-up. If you have money sending your account right now that’s not moving, rotating into inventory, that’s a sure sign that you are the clog in your business. You’re the one that’s holding yourself back. And so you’ve got, you’ve got money sitting there. That money needs to be rotating into inventory. That means get some of those nickel work jobs out of the way off to somebody else and then you get busy buying again.
That’s awesome. So and talking about that because those are themes that I see often in the Amazon Seller Tribe. Again, if you are just joining us, this is Gaye Lisby she runs our partner group of ours called the Amazon seller tribe along with Gary Ray. It is a phenomenal group and their goal is to create more million-dollar sellers on Amazon than any other community in our space. And my goodness, they are doing it. If you are watching this right now and you’re in that group, just put some comments below. So encouraging to see the numerous posts that roll through that group on a daily basis with new records and new highs.
Again, if you’re listening to this on the podcast, that group is called the Amazon seller tribe. A definitely encourage you to check it out if sourcing online arbitrage retail arbitrage. We talked a little bit about wholesale in there, but really a lot of themes about growing your business and specifically getting sellers to that million-dollar and sales mark. In fact, I think just within the last week, there were two sellers that may just, just super encouraging post and they show their screenshot where they had hit that million dollars in sales. So let’s talk about that group a little bit, you know, and just share with us, you know, just your feelings about it. Obviously, I know you love it. You’re the leader of it. What’s so encouraging about that group?
Well, we, we do love tribe and one of the reasons we love Amazon Seller Tribe is because there, there has, I don’t know why it’s happening, but I just know I’m enjoying how it’s happening. There are so many people who are coming into Amazon Seller Tribe who have just such great spirits. They’re eager to be the best they can be, but they live with an abundance mentality that says, you know, I know this and I’ve learned this and maybe I’ve learned it the hard way and I want to help somebody else, you know, know this and learn this without having to make the same mistake I am.
And so they, they humble themselves, which is very rare in the spaces. You know, you have all these people who are, you know, want to be gurus and you know, they’re always building a platform from themselves and so they’re not really about helping the people. And we’ve been really fortunate because we, we’ve really set in our heart. We will create the most seven-figure sellers in the industry. And then Gary and I sat down and we quantified that by saying we will create the most seven-figure sellers who are profitable in the industry because there’s a lot of vanity metrics that go on out there that people are saying, well, I ran this much. I did this much, I did this much. But you know, they, they say, well, I made $508,000 in sales, you know, but they can’t go down and pay off their mortgage. So that’s at the end of the day, that’s really what counts.
And so I don’t know, Gary and I are, we’re just, we’re just at the age where we’re like, you know, we just want to live in the place that it’s where, where does it count that, you know, I don’t care about the numbers I care about, “Did this change your life?” Did this revolutionize the way that you could live? Or maybe, did this give you the hope that you can pay for your kids’ college, or did this give you an opportunity to stay home with your kids and, and, and be and spend more time with your family? Did this help you be a better husband, a better wife, and did this help you in a way that’s far beyond anything money can do? Because at the end of the day, a lot of people will give, will, will, will chase after money and then we’ll give away everything. Then the later at the end of the day, they’d like to use all their money to buy back and they can’t do it. It’s too late.
So we’d see so many lives being changed in our, in our tribe. And that’s why we love it so much. And we just had the testimony yesterday of a young man who Islamic young man, him and his, his brother, and he was six years old when the twin towers fell. He didn’t know why all of the sudden in Birmingham, Alabama, they were public enemy number one. And he had to grow out of that. And one of the things he testifies helped him grow out of that was this word right here. Believe when he began to believe that he was worth it and he came into Amazon Seller Tribe and every message he was getting, you know, just from the nature of the tribe, from the kind of people he interacted with, was, you are valued. You are valuable, you are worth it. Believe in yourself. Believe and you can do this. And now he’s putting up great numbers. He, he has 10-Xed his business since he came into Amazon seller tribe. That’s the kind of stories we live for.
That’s awesome. So again, if you’re listening to this, we’re talking with Gaye Lisby as another real seller and our 100 real seller series you can find in the amazing freedom Facebook group as well as a group that she co-runs with Gary Ray. It’s called the Amazon seller tribe. Encourage you again, if you are interested, there is I believe a seven-day free trial. We’ll put those links here below this video as well as we’ll put them below the podcast when it comes out. I just highly encourage you to go to that group. So the young man that you’re talking about at a great time to meet him at last year’s conference. So those of you that are listening to this or watching this, we do, we now do a conference every year. The first one we did, and it’s in Branson, was last year. We had over 200 people that attended and we imagined there’s probably going to be a lot more than 200 that attended this year because it was such a phenomenal conference. So we’ll also when we come out with the details of that, we’ll let you know. That’s a great conference that you don’t want to miss. So, Gaye, this is the last question that I have for you today. I appreciate again, you taking time out of your day to share with us. I appreciate everything that you do for the numerous sellers in our space. If you can just give one word of advice to, to a newer seller just starting out and we may have covered it in the beginning, or may not have a what, what would you, what would you tell them?
Well, the number one thing I would say is to begin to look at your buys in as groups of buys or as clumps or clusters instead of individual units. Let me give you an example. You walk into Walmart, you find 10 units of X , Y, Z. You say to yourself when I scanned it, it’s going at a hundred percent ROI, so I can buy it for $20 and I can sell it for $40 let’s just say that. Okay? So then you put it in your account and you price it at $40 and you sit there and you wait and you’re like, I’m gonna get my $40 and I’m going to get my $40 out of all 10 units. It doesn’t work that way because on Amazon the prices are always Abin and flowing. Okay? So you’ve got to ride that wave and you’ve got to understand, take that whole 10 units as a buy and say, okay, I’m going to put that whole 10 units in. And so at the end of the time, that whole 10 units, so one of them, you might’ve got a hundred percent ROI. Another one you might’ve got 80% another one 75% 50% and the last three or four you might only get 10% or 0% but you made money on the total buy. So once you begin to look at it in clumps, then you don’t obsess over that individual unit and hold that unit too long when you end up on the downward pricing trajectory or you know, the downward pricing fall instead of the upward trajectory that you really want to on. Does that make sense?
Yep. No, that’s, that’s great advice. So again, Gaye, thank you so much for joining us today. Again, if you’re watching this, you can find Gaye here in the amazing freedom Facebook group, or you can find her often in the group that she co-runs with Gary Ray called the Amazon seller tribe where they are creating more seven-figure sellers than any group that I have been part of. And you know, I was thinking, Hey, we really need to do a series on seller tribe members, who have increased their business. So we need to talk to them how where they began those who have been in this and in early 2019 and then where are they ending up right now? I think that would be a great interview series.
Yes. Awesome. That’s correct. Love you. Love you.
Alright! Thanks, Gaye. Thanks so much, everyone. Thank you so much. I hope you’re enjoying these videos. If you are, do me a huge favor. Hit, hit the like button below. Any questions you have, please drop them there. In the comment section. We’re trying to bring you real people who really sell so you can understand and see the opportunity. You know what I often say is we are folks of average intelligence, but we have grit, perseverance, and we have the wisdom to see the incredible opportunity that you and I have to build amazing businesses on Amazon right now. So we hope that you are taking advantage of it. We hope you’re getting encouragement from all of these interviews again of real sellers that look, you can pay the mortgage off of your house if you’re willing to get nitty and gritty and build an Amazon business, snowballing the profits. It is absolutely doable. So hope you’re getting encouragement. I’m going to end this interview now. Thank you so much, Gaye and we’ll see you in the group.
Thank you, Andy. Appreciate it.
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