Sam Kotch Discusses How AccrueMe Is Helping Amazon Sellers Grow Their Amazon Business
Kris Gramlich and Dustin Kane are joined by Sam Kotch from AccrueMe. Sam discusses how amazon sellers can grow their amazon business.
AccrueMe: Our primary goal is to help Amazon Sellers earn more money. Growth is almost always the driving force behind added profits. If Growth and Additional Profits interest you, then keep reading.
AccrueMe™ provides quality Amazon Funding with debt-free capital, and we don’t take any permanent ownership in your company.
Learn more: https://www.accrueme.com
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How To Grow Your Amazon Business
– Hello everyone, and welcome to episode 77 of Two Amazon Sellers and a Microphone, brought to you by Sellozo. Today Kris and I are joined by special guest Sam Kotch from AccrueMe. Sam, how you doing?
– I’m doing good, how are you guys doing? Appreciate having me on.
– Yeah, thanks for coming.
– Thanks for joining us.
– This has always fascinated us to talk about different aspects of the Amazon space, and funding is a huge part of it, and it’s really valuable to all the people that are listening, all the Amazon sellers. I mean, we know, Kris and I know we’ve been there. We’ve launched on a shoestring budget, our Amazon business and all of a sudden you can’t keep up, you need capital. And we’re so glad talk about all the different things that you guys offer with AccrueMe. And it’s gonna be a lot of fun. If anybody’s watching this right now on Facebook or YouTube or LinkedIn feel free to throw a question in the comment section. We’ll get those out to Sam if you throw them in there. So please do that. But just to get a little started here Sam, why don’t you tell us a little about yourself? How did you get into the Amazon space and get hooked up with AccrueMe?
– Sure, yeah, so again, thanks guys for having me on and everyone who’s taking the time to watch this. So yeah, I got started when I first got out of college my brother and I started a small investment company basically all the savings we had and we went in and we started we actually helped a private company go public. And it was like in the marijuana space and it was kind of a crazy story. So we ended up doing really well. It was during the marijuana.com like basically stock boom we did well. So we tried to replicate that and basically find companies that wanna go public and then do acquisitions to grow really quickly. So, we did that for about a year and a half very hard replicating that model, finding good companies, good managers to get money to. And then we came across a guy that was doing Amazon who was a wholesale FBA seller. And we couldn’t believe that we thought Amazon they did all the sales. We didn’t know there were third-party sellers just like probably pretty much everyone else out there came to realize that 60% or whatever the number is are actually third party sellers or private label sellers or their own small brands thought it was fascinating, acquired this company, started growing it. And then I ran into Don and Eric at this investor event in New York started telling Don about AccrueMe he was in, or not AccrueMe about Amazon and how amazing it is. And he was in retirement and he goes “That’s the most amazing thing.” He started running spreadsheets and financials and numbers and stuff, very big finance background. And wanted in so bad that ran all the numbers that’s him there’s some great opportunities out there for funding. You can borrow 10,000 and payback 11,000 and all that stuff. Then he actually ran the numbers and it’s really all just marketing. You know the short term, it you really can’t keep up unless you’re doing really well. So then we all put our together how can we actually help an Amazon seller grow? We all have business backgrounds. We all know how important financing is for your business. Once you crack the code and you work with someone like Sellozo and you know how to do PPC and sell profitably. How do you scale? You need capital once you’ve tried to crack that code. So we said, “Well, why don’t we partner with them instead “of making it like a traditional loan or equity investment “how can we make this really unique?” So we came up with a temporary profit share where we’ll give you money. We’ll double the capital that you have in your inventory and use it to grow and keep investing in good products. I won’t get a share of the profits. So, and what makes us really unique is there’s no required payments. So we want you to keep our money in the business keep as much money in the business as you can grow rapidly, and then when you’re ready for either a sale or you just don’t need our capital anymore, pay us down and we go on another way. So, that’s what we’ve done, and we’ve been helping Amazon sellers since and it’s been a great journey. So that’s kind of the short version of it.
– Well, I’m gonna dive into a little bit of those things here in a second but also we had Don on earlier, he’s tons of energy. You know, he was excited and passionate about this project when you brought it to him. And I was talking on the last time we had them on I was mentioning for sellers, I don’t think people realize how critical this type of financing is, ’cause, I mean and I’ve told the story of how I lost my shirt with traditional types of financing went back many, many years ago when this kind of sort of e-commerce specific type of financing wasn’t there because the payback terms and the way you have to make these large chunk payments just don’t work for this type of business. So it was really cool, but I wanna dive into a lot more of that as we go, but I wanted to point out so you, early on, you acquired an Amazon business yourself so you were doing acquisitions before it was cool?
– Right, exactly, yeah, so what we were trying to do then we realized it was really hard. And then we saw the Amazon space and just how many of these, smaller business owners whether they were wholesale or private label that were obviously entrepreneurs and sophisticated they were able to start a business, which is hard enough. And they were using the Amazon platform and tools like Sellozo and a bunch of other ways to grow. And we said, this is really the prime market ’cause they do need capital. We can really help these guys more than someone that’s like a sophisticated, one of these finance guys he’s going, “Oh, I know everything. “I’m gonna get a 5% credit line or whatever it is.” So we saw this was really an exciting place for us to be in. And we could add a lot more value than what we were doing.
– So, one thing I wanna talk about, and for those listening that’s episode 44, where we had gone on and Ron talking about so that’s back awhile. We’ve thrown out some episodes since then but that’s a good episode to listen to. But one thing that I wanna talk about a little bit different is what do you guys do differently? Like know Dustin, and I know, but what makes you different from other traditional Linnaean out there that’s always going to go get? I think it’s unique. And if you could share like what makes you guys different that would be awesome.
– Sure, so yeah, I think what makes us really unique is one, we really do care about our sellers. We have calls like Don and I just had a phone call with one of our sellers today, he was doing private label. We got him into wholesale, he’s doing his first order, a big $10,000 order. He ran everything by us, we helped him analyze it. We’ll take the time Don and I who had a bunch of other calls were happy to help him throughout the process. So I think that’s one but what really makes us unique for growing your business, if you don’t need any other help, you haven’t figured out you just need capital is we don’t require payments. So, there’s no set schedule. Once we give you the money, if you don’t wanna pay us for six months, a year, 18 months, you don’t have to. And we actually just did a case study and we did it for our first seller partner. And by not making payments for 18 months, they had a profitable business already they were growing, but by not having to make payments by doubling their capital, they went from like $10,000 in profit in year one to 18 months later, I think they did just over $110,000 in profit in two years. So you can see they went from 10 to 110, pretty incredible. And they’ll tell you, yeah, they had a great business but by not having to make the payments, they could keep it all in there and really grow really quickly and focus on their business. So I think we really wanna help people by not requiring monthly payments. You pay us when it’s right for you. And when it’s right for your business and three, we only make money if you make money. So, a bank or a loan or all these other options, they’re gonna make money no matter what, they have a baked in, they’ve done… They’re always gonna win with us. We only win when our sellers win. So, if our sellers are doing awesome, we’re gonna do awesome. If our sellers have a bad month, we’re gonna have a bad month. Like during COVID, a few of our sellers were not essential. Private label towels or candle stuff they couldn’t send in. They were just, they never the inventory they were losing money, they were breaking even. And these were big sellers, million dollar plus sellers. And they didn’t have to make any payments to us. And in those months where they made nothing we made nothing. So they’ll tell you, “Hey, if we were working with a traditional loan “we would have been behind and it could have been “lights off at the business.” So that’s, I think what makes us unique is the no required payments. And we only make money when you make money as a seller.
– And this is why I find this so fascinating because I was almost had turned the lights off because of the traditional lending setup that I had back in the day. And I think that when somebody hears that no payments for two years, how does this work at this? I mean, doesn’t make sense? It’s like, how can I get the money and not make payments for two years? Explain how that payback process works.
– Sure, yeah, so, we really designed this for growth. And what we did was once we we basically myself, Don, a few of the other founders, we put in just our own capital to start like the one I was just telling you, that went from 10 to 110. We had really no idea, we invested in them. We had very basic documents, we had no technology at all. And the technology is a big reason why we’re able to do this, but we just invested and it ended up working out well, but we had no idea are people gonna ever pay us? Are we gonna make our money back? Are we gonna lose all our money? We ended up not losing money with everybody. Everybody loved us, and we said, we have to go out now raise capital. We did from a big hedge fund in New York raised a hundred million to invest. And the way that the payback works is really simple. We invest a certain amount of your business. In most cases, we double the capital. If you have 100,000, in inventory at cost and Amazon we’ll give you another a hundred thousand to buy more of that good inventory to start generating an ROI on it we track everything through our AccrueMe portal. So what you have, we see it day by day, we attach your Amazon API. So we’re tracking all of the sales, we’re tracking the inventory, we’re tracking the profit and loss. And basically you can just decide, at the end of the month, there’s a certain amount of profit. We get a certain share based on how much capital we represent. The seller always gets the line share. And you can say, “Hey I wanna pay your recruit profit “this month or just roll it over.” And it basically just stays, it was like a little tally AccrueMe just added $600 to their capital that they invested, at the end of 18 months, it might be, instead of let’s say we invest at 100,000, it might be 115,000. When you can start then making bigger installment payments or we’ve had people that just have so much cash at the end of it, they’ll just pay it off in one shot. And then they go back to owning 100% of the profits and either selling or just having a much larger business. So it’s really flexible. It’s all tracked through our portal. So you can see exactly what our profit is at all times. And you have access to that and you decide when you wanna pay us.
– I just wanna clear. So essentially, as long as we have the money you get us a percentage of the profits. And as soon as it’s paid back, that percentage goes away. That’s it in a nutshell, right?
– That’s it, yep. That’s well said, that’s very well distilled, that’s perfect.
– And this is skew based, this is an entire account based like, if I wanna fund just individual products I can pick those products. I don’t have to get the entire funding for the whole account, is that right?
– Right so you don’t have to do that. We have some sellers, that wanted to say, “Hey, I just wanted include these five units “or these five ACEs and skews.” And that we can exclude the rest of our system which means we don’t give you credit for it. But we also don’t get a profit, but most people, if it’s an existing product, that’s profitable they almost always want to just include everything in because that means they’re getting a higher amount of capital, a higher profit share, that the minimum that the seller gets at all times is 75%. It can only be 75 or higher. So 75, most people like 85, the seller gets in profit, but they include everything because they want more capital for us to invest. And they want to just have more capital included so we can invest more and they get a higher share of the profit.
– So, we’ve been burned before Dustin and I had been burned before. And sometimes the thing sounds so good to be there’s a catch somewhere, right? Like, we’ve done the traditional lending and I’m always waiting for that data to show up and take my knees out. Like, so I’m trying to figure out I’m trying to figure out like, you can correct me if I’m wrong, but where’s the catch out? I know I’m hearing like understanding that you’re sharing the profit but there’s gotta be somewhere like and this is just my traditional cautious thing. There’s gotta be somewhere where like if I don’t do something right, or if something goes wrong, I’m on the hook for something like, I’m I missing anything?
– Yeah, so there really is no catch. And we hear it all the time because this is totally different and unique. I mean you guys are successful business owners you’ve gone through the ropes and you’ve seen all the funding options out there. It’s totally new, even to just finance people. We talked to Hedge Funds all the time. They just don’t get how you could do this. And I think what allows us to do this is because we’re getting a share of the profit. We’re really aligned with the seller. If a seller does really well, that we work with we’re gonna do really really well better than a bank would do. So, having that ability for you as a seller to not make payments where it’s not as stable as a loan there’s a little bit more upside for us. We’re giving you that flexibility, but we end up doing much better than a bank would, but also, in the case if you don’t do well Kris, we’re gonna do really well too. So it’s kind of like that risk reward type thing where yeah, we’re gonna, if you do really well, we’re gonna do really well. And that’s why the no payments and the only sharing in the profit it works both ways. So I think that’s really, we’re really geared towards growth. So, there might be a cheaper, like if you get an SBA loan you might be able to get a cheaper SBA loan, than us, but if you really wanna grow quickly and don’t mind sharing the profits with a partner we’re the best option for anyone that’s trying to grow really quick.
– What happens if everything goes horrifically wrong? So we partner up, got some cash in flux and make a huge order, and then the account gets suspended or whatever. And it’s done, then are we on the hook?
– Yeah, so we don’t require any personal guarantees. There’s no UCC Lien. So unlike a bank or anyone of the other guys are gonna probably come after you whatever they’ll do, we don’t do that. What happens in any situation, whether it’s a seller for a few months has been generating a profit, and the money’s going down, Don and I the first thing we always do is reach out set up a phone call, and try to get an understanding of what’s going on here. Why is the inventory not selling through, where’s this wire that went to China, or the supplier or whatever it was, what’s going on with it? So we always try to get ahead of it and we’re partners. So we want to protect ourselves but also the business and our partners. So we’ll get on the phone and always work it out. So, we’ve had us in probably three or four suspensions with some of our sellers. And there was a wave of just related account suspensions. And it seemed like everyone was getting suspended for a name was green and blue and whatever. So they all got, we actually helped them draft, they want to go to these consultants that’ll charge $5,000 for a little letter. We said, we done this before, we know what works. We have a template, let’s put it together for you. And we actually got them unsuspended, and pay any money and they got unsuspended. So we really try very hard to work with our sellers and get ahead of any problems because of the way we can track everything with Amazon’s API and all this technology. We can see everything in real time. So we try to get ahead. If there’s gonna be something like that we try to get ahead of it. I mean, suspensions, you can’t, it’s just Amazon, it’s Amazon being Amazon, but we’ll always talk to you and try to figure out a way to make it work for everybody. And thankfully, we’ve never really had that type of issue.
– So we’ve given you some tough questions ’cause we’re just kind of suspect ourselves but you’ve answered really well. I wanna kind of focus now on like on the positive side, like you’ve obviously passed some success stories. There’s been sellers that come to you and you’ve seen them grow using your type of service. Let’s circle back, let’s touch on some of those. So if you can have any type of testimony or the type of stories, both sellers people as podcasts or sellers. What’s that look like? Like if you’ve obviously worked with sellers in the past let’s touch a little bit on some of the good stuff.
– Sure, yeah, so, like I said, one of our first partners that we work with, we met them, they were a couple, they were selling on Amazon. They were doing about $50,000 in revenue probably $10,000 of profit. Actually it was 90,000 revenue, 10,000 profits. So they came to us ’cause they were looking for more capital. So in order to work with AccrueMe, and really if you’re gonna raise capital with any business, you have to be profitable already to start you have that profitability. If you take on debt and don’t know, or any capital and don’t know where you’re gonna put it to degenerate an ROI that’s proven you’re gonna have a problem. Whether it’s AccrueMe, a bank loan, whatever it is. So, if you’re profitable, you know exactly where you wanna spend the money to grow, you know I’m gonna put it in this product or work with this supplier or do this, PPC campaign or whatever it is, then you just need capital. So they came to us, they did all their research and all the other guys out there. And they realized by not they actually asked her son-in-law who was a finance guy. And he goes, “It’s too good to be true. “If they’re gonna really give you that money “and not require payments “and only get a share of the profit, it’s like free money. “You might as well take it.” And if you know you might’ve… And we joke sometimes like it’s free money. Why don’t I invite as many people, jumping on this as they should. So we put together this case study and after we doubled their capital so they went from like 20,000 invested of their own savings. We give them another 20, within a month, they deployed it all into products diversified over all their ACEs they weigh too heavy into one, which we see a lot. Sometimes people weigh too heavy into one skewer to one ACE. And then for whatever reason, it goes bad for them. So they were diversified, they were profitable. They put the money right away to work. And a year later, I think they went from 90,000 and 10,000 profit before us till they went to a 300 in like 40,000, and 45,000 in profit in a year just by having the double capital they were keeping most of it in the business. But they also, we understand a lot of the sellers we work with our bigger sellers and they do this full time. This is their full-time job. They need to pay for a mortgage, a house payment, So they were taking capital out of the business and leaving ours in to keep growing, which we’re totally fine with. So then they kept doing that, and then two years later, 18 months. And I remember, ’cause it was really just September of 2020 they did their total numbers were just insane, like $800,000 in revenue, and like $140,000 in profit two years later. And then they decided, “Okay, we’re settling down a little bit. “We have so much cash in the account. “We don’t really need your capital. “We’ll pay you down $10,000. “We’ll pay you down another $5,000.” And they would just keep paying us down. And they still have their businesses now, humongous compared to where it was. They have so much cash that they don’t need as much of ours. So they’ve been constantly paying us down and probably by the end of this year, or maybe in a few months, we’ll probably be totally out but they’ll have a much bigger, sustainable business and they won’t need to take on any capital ’cause they’ll have built it all for themselves. So, I would say that’s really good. But again, the key is profitability, knowing exactly when you raise money, whether it’s AccrueMe or anybody where are you gonna put that money to generate a profit. That’s the number one key. And then they came to us and made all payments and they were able to grow like wildfire. So that’s the perfect client for us. And we love helping people get to that point.
– Yeah, that’s the tricky part. Like you can get the funding, but now you, as the owner you gotta make smart decisions with it. You gotta make sure you put it in the right areas.
– Totally, yeah, and that’s why the first question I ask pretty much every time is, what’s your plan? Do you want to sell the business. Do you want to grow the business? And if somebody says to me, “Our biggest problem is stock-outs. “Or our biggest problem is I can’t buy all the ACENs “from this one supplier when I want to.” I know they’re gonna be a good fit and they’re gonna see it because they’re gonna immediately, they just need the money, they need to put it. That was this case I gave you. They knew exactly where to put it and they put it. If somebody says, “Oh, I have enough inventory. “I’m just trying to find what’s your interest rate “and what’s your loan.” They’re not really focused on growth. They’re focused more on the minute details of stuff and not just growing like crazy. And how do I get the money? ‘Cause I know if I had, I spoke to one guy he sold car covers. He was like the first one. And he’s like, “Yeah, I know if I have another “100,000 I’ll turn it to 300, I just need another 100,000.” I was like, okay so it’s always like that. And you’re like, “Yeah, this would be great for you.” ‘Cause you can just keep rolling it over. So that’s really, the key is knowing exactly where to put it smartly and don’t go too heavy into one ease-in or one product line.
– Man, I could have used you in 2014.
– No kidding.
– And I mean, I still wanna hammer this point home for people who are listing why this is so critical. If you’re just now starting in the Amazon space or if you’re starting to grow, the thing with traditional lending is, is you get this money, let’s say you have to do for inventory. And you’ve got these large monthly payments while you’re laying that money out for the inventory. It might be two and a half months before you even make a sale off that. I mean, it’s gotta be produced, get on the water, and you’ve got nothing coming in. And then these huge payments start coming. And even if you are able to survive that at the end of the whole process, you’re in the same boat you were in the first place. You don’t have the enough capital for your next order. And this that’s why this is so interesting to me. And really I wouldn’t know if I would call what you are doing almost lending, it’s almost investing. It’s like you’re investing in the business and helping it grow. So, that’s why this is so fascinating to me the space and kudos to you guys for putting this together for sellers, ’cause it can make or break it for people, this type of lending.
– Yeah, and you’re totally right Dustin, we’ve all, some of the other guys that I work with have a lot more experience in finance and raising money through traditional equity deals and venture capital and stuff like that. And I’ve had my experience too, but this type of we really tried to make this as fair as possible, and the ultimate goal is growth of the business and growth of the profits. So that’s the most important thing is we know that if that happens for the business and for our sellers we’re gonna do really well. The seller is gonna do really well. It’s a win-win, and it’s totally different. And sometimes we have a problem explaining to sellers that they do think, “Hey, it’s too good to be true. “I don’t get the model. “How are you gonna calculate the profits?” And I understand the typical revenue share or whatever it is or a loan, but this is so different so unique, that we’re really trying to get and we appreciate you having us on. And the guys with you like top industry experts that are working with profitable sellers that are using your tools to grow their business and get the word out of how amazing this could be for them. If they’re profitable already. And they know exactly where they want to put the money and they wanna grow, there’s really nothing else like it.
– Something that just really sucks. And just really I hate doing is like filling out all these forms, and like having to do all these, what’s your like address and credit score and just all this all that stuff just takes forever. Especially when you’re applying for funding I’m on your site now and you got this thing called the profit calculator. It’s interactive, the capital you’re gonna put in and then AccrueMe is gonna put in you can figure out the lead time and and all that. So it’s really nice to kind of play around how does this work? How can sellers use it to kind of get an idea of capital they really need?
– Right, so the AccrueMe calculator, you basically put in how much capital you have in your business now. So let’s say you have $10,000 in FBA that you’re turning over. And then how often are you turning over that inventory? Are you selling it through in a month, in two months in three months? And obviously the higher, the term, the higher the profit the more you’re gonna be able to make, then you put in the lifestyle withdrawals we were talking about earlier. A lot of the sellers that are bigger sellers they’re not doing this as a side hustle need to take money out for living and occasions. Well, maybe not so much nowadays, but normally, you have to take money out for whatever you need to live on. So that’s what we call the lifestyle withdrawal. And when this calculator shows that if you add AccrueMe capital and double it our biggest assumption is that if you take on double the capital, or whatever proportion of capital to what you have now, you need to be able to increase your revenue and profits by that amount. So if you take on half, if you have 10 and you take out another five you need to increase it by 30%. If you take on another, double the capital to double your profits. And if you, we talked to sellers all the time, we were like, “Yeah I can double my profits “or triple my profits if I stayed in stock “and didn’t lose my ranking or didn’t do this stuff.” And we have sellers like that all the time. Some people will say, “You want me to double my profit overnight?” And nothing’s overnight. But just like the example I gave, if we give you the capital and you immediately invested in two to four months we saw the change with our partner. They, I mean, it was really like a night and day change. It was three to four months but they started on day one investing in profitable stuff. So this really just shows you as a hypothetical you put in your numbers, I have 10,000 in capital, I want another five or another 10 from AccrueMe, we’ll double it. That’s the most we’ll go. And then you put in your ROI, your monthly ROI, and then the turn time of that product. And that will show you how, it shows you two things. One just what we call Einstein returns the exponential growth, which is out of control. If you can keep reinvesting and keep growing you’ll see the numbers. And then two, it shows you how AccrueMe’s profit share the way we set it up, where we get a hap. Basically we get the, and this is kind of the trickiest part to explain ’cause it’s so different. You know, we’re 50% of the capital in most cases, we’ll double the capital, we’re 50, 50. We don’t want half the profits. We get half of whatever we represent. So for 50 we get 25, but that keeps as you keep growing and keeping the line share you’ll see that just naturally the way the math works our profit goes down just because you’re always getting more of the total pie until AccrueMe becomes a tiny, tiny percentage. So it shows you how you can grow and how AccrueMe’s profits your naturally goes down just over time. So that’s kind of some easy display there.
– Yeah, no, it’s good because with it. And then there’s also, after I find out you play around with a calculator, there’s a section here says get a three minutes, complete the three minute forum. So, it takes literally that long. And I wouldn’t even call it that long. It takes three minutes to actually figure out and to get an instant funding. What type of questions are we looking at here for this three minute form?
– Right, so, we just ask for your basic information, your name, email, phone numbers and get in contact with you. And then we just wanna get a sense of how profitable you are just, and again this is all you just putting it in. So we’ll verify it after if you decide to move forward you put in how much capital you have in Amazon, your Amazon balance, ’cause that’s really the two places where most of our sellers derive what we match, whatever they have at FBA or a 3PL app costs and their Amazon balance. And then from there, we’ll spit out a number it’s almost always lower, we like to give you a realistic expectation than over deliver. Once we give you the actual investment proposal if you decide to move forward. And from there, you would just give us access just like everybody to your Amazon accounts. We can see it it’s kept totally confidential. And it really just gives you an exact number of how much we can invest what the profit share would look like what the key terms of working with AccrueMe. And then we do a full inventory evaluation based on our system. We develop what’s called the brain. We had a bunch of really smart MBAs and data scientists from Columbia use Keepa data, and Amazon to basically predict and model sales. And that’s a great tool that we’re actually releasing now to all of our seller partners that you put in a nation and it will predict how much profit you’re gonna make based on your 90 day historicals from Keepa and how much to buy to sell through in three months. ‘Cause to us, the key is selling at a minimum of 10% ROI and turning it over every three months. So, we have a tool that analyzes. So it’s always good for sellers. That wanna know, “Hey, how’s my inventory doing? “What are you guys thinking about based on your model?” They can run it through, it’s no risk. It says on the page non-binding just to give you information and it tells you how much we can invest if you wanna move forward. So that’s that process and you can always set up a call with Don and I, we have tons of calls every week whether you’re a $10,000 seller or a $10 million seller we love to talk to you guys learn more about your business and see if we can help.
– It’s fascinating, I mean, anybody out there listening right now that is need of capital, or in growth mode, I encourage you go to accrueme.com and fill out that form for the funding. Get on a call with Sam. I mean, you can learn a lot just by getting on that call and then so going forward after that, how involved do you stay? Is it just based on the sellers, meet with you guys? I mean, do you have weekly or monthly calls with them or are you just monitoring through the platform or how does how does that work, that relationship going forward?
– Yeah, so that’s a great question, Dustin. So we, it really depends. We have some sellers that we invest in them. We have some emails when they need something I send it to them right away and they go, “That was so fast, thanks Sam.” That’s the of our competition or conversation. We have some sellers like that Don and I were on today. Every week we have a call for an hour talking about a product launch. What should you do about diversifying into this product? And we’re not Amazon experts. We know about Amazon we’re in the business but we’re not experts by any means but we’ll do anything we can or introduce people to anyone in our network to help them grow. So it’s totally up to the seller. If they want to have a call every week we’re happy to do it. If they want to have a call every month we’re happy to do it. If they want to just take our money and never speak to us until they grow to 10X and then pay us back, we’re totally fine with that. We’re happy to kind of foreign to whatever they wanna do.
– I think that’s really the coolest part about this is, is having, I mean, having a partner like you’re talking about. I can assure you my lender did not care about helping me one bit. They just wanted their payments back and they didn’t care how I did it. And so having those resources, obviously your network grows you’re involved with so many sellers. So like you’ve said, you’ve seen suspensions, you’ve seen all these things and you can help guide people towards the correct resources when those things, when some sort of impactful event like that happens to somebody. And I mean, that can be just as valuable as the investment. I mean, that’s really helpful. So, super simple. Somebody wants to come on if they just go to accrueme.com fill out that form and that starts the whole process. Is there anything that is sort of unnecessary thing? Like what about with my LLC or any of that nature? Is there anything that’s sort of a stipulation that has to be covered?
– Yeah, so in order for us to work with you you have to be selling at least for six months on Amazon. So we can see your account that you have activity for six months and that you’re selling profitably and we do all the analysis and stuff. So you don’t have to give us financials or give us any of that type of stuff. We do all the analysis through our engine but you have to be selling for six months profitably. You have to be an LLC. If you don’t have an LLC, it’s not a showstopper. You have plenty of guys that have a corporation. They form an LLC in two days it costs 400 bucks and it’s just a wholly owned subsidiary of their existing corporation, and that’s really it. I think that the biggest thing is that if you’re watching this, and you know that if I had more capital that I could grow and then you understand, well, if I had more capital I could keep growing it. And then I don’t have to make payments to a bank or to a lender. I can keep it in the business how quickly you can get to your goal whether it’s a sale or just turning it into a legacy business for yourself, or your family, or your partners, if you’re ready to grow, then you wanna go through app.accrueme.com and you’ll need to be able to just give us access which will generate a proposal for you. Or you’ll set up a call with myself and Don they’re half an hour to an hour calls. We just talk about your business what you’re trying to accomplish and then take you through the process that way. So yeah, definitely app.accrueme.com and you can get started right there.
– Everyone should do it. I mean, Don’s great to talk to, I can tell you.
– Don is great.
– Yeah, I mean, and it’s just a great partnership so yes, it’s, what’d you say, app.accrueme.com.
– Yep, so if you go to accrueme.com, you’ll see it there’ll be little buttons everywhere to know apply now or get a funding estimate. So, but app.accrueme.com is where you go directly to it.
– This has been great Sam, and we’ll have to have you on again, down the road. ‘Cause I know this landscape changes all the time. So I know you guys are gonna come up with new stuff and new ways to help Amazon sellers out. But I mean, I can’t tell you if I was starting right now if I was the seller starting right now, and I’m in that breaking point of, I need capital launch this is the direction I would go. I would never go with a traditional lending or even anything else, even like taking out an equity, like a line of credit, even that, I mean this is just, it’s a smoother, it’s an investment. There’s less risk, it’s the way to go. So I encourage everyone to absolutely do that, accrueme.com. Any other ways they can reach you, Sam you on LinkedIn? Where else can they find you?
– Yep, so I’m on LinkedIn. And if you want to just shoot me an email you can use firstname.lastname@example.org, that’s my direct email. I respond to everybody, whether you’re $10,000 million seller having set up a call just learn more about and see if we can help so.
– Everyone do it, get in contact with Sam right now. And we’ll definitely have you back on again. For everyone who’s listening, thank you so much for listening. And if this is something that you’re interested in get in touch with Sam, if you like this content, make sure that you like the Sellozo page on Facebook and the Sellozo YouTube channel, turn on notifications so that you know when we go live, we go live every day with these episodes. If you like listening in the podcast format we’re on every podcast platform out there “Two Amazon Sellers and a Microphone.” Subscribe to us, leave us a review. You can leave an honest review. We’ll stick with the Amazon theme, all the honest reviews. And we do it every day. So we will be back at this again tomorrow, everybody, Sam thanks so much for coming on.
– Thank you Dustin, thank you Kris. Really appreciate you having me.