Amazon Basics

The Importance of Setting Realistic Goals

Lesson 19 Chapter 1 Module 3

(Start of Day 7)

Every second, Amazon makes $4,722 in sales.

That's $283,000 per minute and $17,000,000 (seventeen million) per hour.

per HOUR

I'd like to remind you that (as at the fourth quarter of 2018) 58% of those sales come from third-party sellers - people like you.

But to build a successful business (whether online or traditional), it needs solid foundations. It's like building a house. How long do you suppose a house will stand if no foundation was laid for it? When Jeff Bezos started Amazon, he knew it wasn't going be an online bookstore in the long term. He had grand plans from the start and those plans were his foundations.

Success is not measured in numbers. It's measured in goal-attainment. It means that if a specific goal was set and you reach the goal, you are successful. 

For example: when you join our Advanced Training, your goal will be to reach £1,000 (British Pounds, because you will trade in the UK and Europe) within the first 3 - 4 months after training. When you start earning £1,000 within that time frame, you will be successful. Your success will not be the £1,000 per month, but the ability to reach the goal you set beforehand.

Does that make sense? The money should be your reward for reaching a goal you set, it doesn't matter if your goal is £10 or £1,000. If your goal is to make £10 by 10:00 tonight and you actually do it, you are successful.

Put another way, if your goal is to go for a 30-minute walk every weekday after work and you do it, you are successful. If you manage to do the walk for 15 minutes only (even though you manage to do it every day), you are unsuccessful. If you only walk three times a week after work, you are unsuccessful.

NOTE: Failure is not fatal or the end of the road. It's only over when you give up.

Failing simply means you haven't reached your goal(s) YET.

And if your expectations are too high you will set unrealistic goals and not reach them. So you need to be flexible. Go over your goals regularly and adapt them as necessary.

 For example, wanting to earn £10,000 within the first month of selling on Amazon is unrealistic for a new seller. Possible, of course, but not probable and way too unrealistic. So what do you do? You lower your expectations and set realistic goals.

Like Jeff Bezos. Even though he knew what he wanted Amazon to become (an 'everything store'), he decided that it should first become a successful online bookstore. He didn't add any additional categories to Amazon until it had been operating for four years

Setting realistic goals keeps you motivated and ensures long-term success.

Next we'll learn about Amazon's 4 Pillars of success.