What’s up everybody, this is Justin from flipping profits and today we are going to be going through our Criteria why we go through it why we use the criteria that we use in our special trick? Which is called the magical penny Before we jump into that though if this is the type of content that you like if you want to learn more about Selling on Amazon FBA or if you want to learn about different tips and tricks Make sure to hit that subscribe button hit that Bell notification icon So you are notified every single time that we put out a brand new video also if you have a question about selling on Amazon Don’t be afraid to ask it go down to that comment section down below and maybe in our next two-minute tip We will go through your question and we’ll feature it on our channel. All right, so let’s jump into our Criteria and why we sell the products that we sell let’s go ahead and throw that two-minute countdown on the timer For those that don’t already know We focus a lot on high turnover products meaning products that are within the top 1% or half a percent on Amazon Specifically we look for products that are less than a hundred thousand in bestseller rank We’ll go over that in another video on what the bestseller rank is why we use it blah blah blah blah blah But just understand that from the get-go what that means is in most cases These are the highest selling products in their category. Now, you may ask yourself Why are we focusing on those? why don’t we consider the higher ranking items because usually when you’re out there sourcing for retail arbitrage or For online arbitrage if it’s ranked, you know, three four or five hundred thousand. You could get a really good return on investment A really good, you know for every dollar that you spend maybe you’re getting four or five dollars in those products So I want to go through why we do that and I want you to guys to understand a little bit of back history I was a financial planner and our in the finance industry for about ten years or so Kristin actually worked in the financial industry for about 13 years and so we have this back history and education of you know analyzing mutual funds and all these different crazy things and one of the big Tools that I’ve learned over the years is compounding interest and the importance of compounding interest And so I want to tell you a little story so I Want to ask you there are two options on the table either. I hand you a million dollars or I give you a penny and For the penny just understand that it is a magical penny. There’s something very special about it Every single day that penny is gonna double in size from day one to day two It’ll go up to two pennies from day two to three. It’ll go up to four pennies. So every single day it’s doubling And I want to ask you And I want you to get a little bit of time here to really think about it, you know, maybe pause the video Would you rather take the million dollars or would you rather take the magical penny? Okay enough time is up so for those That took the million dollars. Congratulations your million dollars richer. This is wonderful. You’re excited. You’re celebrating For those that took the magical penny You’re really celebrating because the reality is is that little magical penny over the course of the days it actually grew by the end of that thirty day period up to 5.3 million dollars Some of you may be thinking yourself you’re crazy just in but I’ll show you a table right over here every single day it doubles and by the end of that 30 day period It hits that 5.3 million mark now the same strategy and concept that we learned from the magical penny We apply to our Amazon business, you know Even if it’s just a fifteen or thirty percent ROI and wholesale or even if it’s just a forty or fifty percent Return on investment that we can get in retail arbitrage We know that the magical penny theory is going to apply where we can get in and get out very Quick and we can reinvest that money back into those same products and grow up Faster than somebody that’s maybe sitting and hanging out and waiting for a year for the product to sell now I’m not telling you that that is the wrong way to run a business. Everybody has their own views on how to Run an Amazon business. Everybody has their own strategies, but for us, that’s not how we build our business we know Basic math and understand that it’s going to grow faster the faster we can get it in and get it out. So that My friends is the magical penny and the magic trick to growing your Amazon business Faster than every other person out there on the market I hope you enjoy this video. If you did make sure to smash that like button if you didn’t it’s okay You can hit the thumbs down I understand, but tell us in the comments section down below why you didn’t like this video? make sure to go ahead and follow us on instagram at Flipping profits and join our Facebook community because there is some awesome people in there that we love and we’d love to have you there Thank you so much for your time, and we will see you tomorrow for our next 2-minute tip I hope you have a great day. We’ll see you soon