You receive a product or account suspension from a bogus copyright claim:
Amazon restricts your product with rule changes (more on this later):
So between the Nomad Millionaire course price and the money you will need to spend on your first product, you’re investing several thousands of dollars that you may never see again.
So the question you have to ask yourself is:
Can I loose all that money and still be okay?
If the answer is “No” then you should really not be investing in the Nomad Millionaire FBA Course.
Success On Amazon Will Probably Take Years, Not Months
When I first signed up to Myles Dunphy’s course, I planned to launch a product a month in the hopes of quitting my day job within a year.
I did some back of the envelope calculations and it all seemed possible.
“Myles had done it, so why couldn’t I” I reasoned.
But after I started selling, I soon found out the that the goal was going take longer than I first thought.
This was partly due to the products I picked to sell (low competition, low demand), but also partly due to the realities of selling private label goods via FBA, such as:
Cash flow management
Building enough capital for growth
Delays caused by developing products remotely
Slow inventory shipping times
And whilst I am now half way to quitting my job (working only 3 days a week), I understand it’s probably going to still take another year and a half to quit completely.
I’m not saying it’s impossible to achieve that goal within a year, a small handful of Myles’ students have done it already after all.
But, the realities of selling private label good via FBA means that…
…achieving job killing success in a short time frame is the exception and not the rule.
So if you’re going to purchase the course, please be prepared for it to take years, not months, to turn it into a full time income source.
The Success Rate Of The Nomad Millionaire FBA Course Is Unknown
As any you would expect any good salesperson to do so, the Nomad Millionaire focuses on a handful of students who are his most successful when promoting his course.
But what about all the others?
Well there are currently over 550 members in the course’s Facebook group.
So how do most of them go?
While I have read dozens of stories of success and a few stories about failures, the answer to this question really is:
It’s impossible to tell.
This is because most members choose not to share their results publicly.
Whilst this is a choice I can respect, it means that we really don’t know how many of Myles’ students are actually successful at Amazon FBA.
And whilst I think (anecdotally) that the course is great, if you’re the kind of person who likes solid statistics before making such a large purchase, then unfortunately that data simply does not exist yet.
Amazon Are Making Things Harder in 2020
The reality you quickly learn when starting on Amazon is that you’re in their house, playing by their rules…
…and they like to change those rules on a regular basis.
One recent example are the changes they have made due to Covid-19.
The havoc the virus has caused has prompted Amazon US to make changes that have made it much harder to start selling on their platform.
They have restricted any new products that don’t have a sales history to have a maximum storage limit of 200 units in their warehouses:
In other words, you can only send and store 200 units of your new product in to their warehouses at any one time.
Unless you have a high sale velocity, which you are unlikely to achieve when launching, then you’re stuck with that limit.
This makes it difficult to launch new products as unless you want to send 200 units at a time from China by boat (not a good idea), then you have to warehouse your goods somewhere locally so you can be ready to send in more units every time your stock runs out.
That’s okay for Americans who can store their products in the garage.
But for international sellers like me…
…it’s a massive headache to say the least!
And whilst I expect Amazon to revert back to normal at some point in the next few months, this serves a perfect example of how they can change the rules at anytime really messing up your plans.
So if you do decide to buy the course, please expect annoying obstacles thrown in your way from time to time that you have to figure out how to overcome.