Note: MKAMZ is coming soon. This post must be included on this website as a proactive warning for anyone reading “How To Get Rich Using Debt Pt 1“. That blog post was written from the point of view of someone rising up from $0 with 0 credit determined to get rich by any means necessary. You must be aware of the risks involved with this approach. That is a high-risk high-reward method that may not produce the same results for you.
You need to control your risk.
When you have nothing to lose, you can risk it all with little to no consequences.
All of this changes once you scale past the beginner stage.
When you are trying to go from $0.63 cents to six figures on Amazon you have nothing to lose.
You don’t want to follow Dave Ramsey and save the little bit of money that you have.
This is when you want to get maximum value and exponential return on your money.
The only way you do that is by going broke.
Keep spending all your money on inventory and building from zero.
Go out and earn new money to replace the money that you have.
This is how you build from 0.
Not only will you build an inventory from nothing, but you will build discipline and sourcing ability that cannot be purchased in a mentorship or a course.
Eventually, however, you will reach six figures or more on Amazon.
You can continue to adopt the same strategy of investing all your money into inventory, which is what most sellers do, but you need to understand and control your risk.
Don’t be a fucking retard and chase growth for the sake of growth.
Don’t be a complete clown and do it for online validation.
If you lose, you will lose all by yourself.
Make sure to be aware of risks and don’t risk more than you can afford to lose.
This becomes even more important when you have employees on the line and bills to pay for like warehouses.
You see these retarded 18 year old kids spending all their money, taking out massive loans to pay for inventory that they don’t have the available cash for.
They do this because they have never tasted defeat, only success and they have become delusional.
They feel invincible, like they can never lose.
This couldn’t be further from the truth.
Their cash flow is completely fucked and they don’t even know how to read a cash flow statement.
Financial literacy is key to understanding how to navigate this business and how to make the right decisions.
Overleveraging might work for a while, and you might even achieve results faster than your peers.
But it will all come crashing down if there is ever a dip in revenues due to the economy, black swan events or any other catastrophe.
In fact, the ones who are the most overleveraged will be the first to fall.
They will then be working at McDonalds to pay the bills because they were reckless.
Winners like myself will be there to buy the blood and take market share from those who did not prepare for downturns.
Don’t be like these people, who chase success tomorrow.
Your ego is your biggest enemy.
Sustainability is more important than rapid growth.
The goal is to survive, not to rise fast and then end up bust.
Most of the clowns you see on Twitter and Instagram bragging about overnight success will be out of business faster than they ever came up.
I was guilty of this in the past as well.
I tied up too much of my cash into inventory and did not keep adequate cash reserves.
My cash flow was fucked and I had to make a change.
That’s when I woke up to my senses and got obsessed with financial literacy.
I began allocating money properly and keeping a keen eye on my cash flow statement.
Instead of chasing growth for the sake of growth, I became strategic and made calculated moves.
This radically improved my cash flow, profitability and future projectile of success.
I achieved more by using less.
You should do the same.
Best regards,
Alex Chung
This blog was written in the point of view of someone going from nothing to something, which will relate to most people. MKAMZ will focus on scaling, building systems, automation and next-level concepts.
While this blog is mainly complete, it will be updated if required.
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