What is eFormula? Behind The Scenes Info & Top Questions Answered | The Growth Booth #108

Welcome to episode number 108 of The Growth Booth. Today, I want to talk about eFormula. 

eFormula is a brand-new course that I've just opened the doors to open up enrollment to and it's only going to be open for a couple more days. We are closing enrollment down on the 1st of February. That's Thursday, the 1st of February at the very latest, and we may in fact close down before then if we hit capacity. I wanted to take some time on this podcast here today to talk to you a little bit about our vision for eFormula and share with you how I think it could be an absolute game changer for people who want to start an e-commerce business or reinvigorate an e-commerce business in 2024. 

eFormula is built around e-commerce, is built around Amazon, initially, and we've sold on Amazon for a very, very long time. Now we've done millions of dollars in our own business on Amazon. We're talking about leveraging a very specific style of selling on Amazon. I'm going to go through all the steps of what we do in the next few moments here, but it falls under the what we call wholesale umbrella. The Amazon wholesale umbrella is where you don't need to manufacture your own product, you don't need to worry about branding, you don't need to worry about buying massive amounts of inventory upfront, you don't need to worry about creating Amazon listings or website, or many of the other headaches that have traditionally frustrated people who have tried to get started selling online. What we do with the Amazon wholesale model is we sell products that are already selling on Amazon, and we sort of piggyback if you like on this existing demand and sales volume that's already out there. It allows us to move in to building a new e-commerce business with a lot of confidence in the numbers and certainty that it's something that we can get working. It sort of eliminates a lot of the frustrations that we've had in the past with plenty of upside as well. 

Now, in saying all of this, the approach that we have is absolutely a game changer, is absolutely revolutionary. I know these are big claims, but I'm hoping that by the end of this podcast episode, you'll see why I believe that to be the case. At the foundational level of what we're doing, what eFormula is, is we are enabling customers to come in to choose a pre-vetted product, which ticks all the boxes, to buy that product, and to start selling that product on Amazon without any of the headache that has traditionally plagued people who have tried to do it. The reason that we're able to streamline this for people is because we've invested an enormous amount of time, energy, and money, in fact, over half a million dollars at this point over 12 months, in building out a system that enables that. 

At the core of the system, we've got something called The Buyers Club. This is an in-house repository of products that serves up different products to members of eFormula that they can choose to then buy and ultimately sell on Amazon. So what we've done in enabling that is allow our customers to bypass the need to go out there, negotiate, create agreements with suppliers, bypass the need to have a reseller certificate or a USA company or any of these other things because you are dealing directly with my company and we've already gone out there and done all of that for you, having sorted through millions and millions of products and found an enormous number of products that do tick all the boxes that we can now pass on to you, essentially. But that's only the first part of how we've taken a revolutionary approach to what we're doing with eFormula. 

The second part is our warehouse, our private warehouse, our Logistics Center, which enables you ultimately, to be able to have your products processed without ever needing to touch them. I'll talk about this more in just a couple of moments here, but this two-punch combo between the Buyers Club and the private warehouse has changed the game for people that want to start selling on Amazon. It has broken all of the rules, how there were sort of these predefined rules about the way that you would build an Amazon wholesale business, and it's just made it so much easier for people to get started. 

The thing that we love about this model, if I just back up a little bit, and I'm going to walk you through the traditional steps that we've seen with this model, but the thing that we love about it is that it's simple. It's very efficient, and it's predictable. It's also based on sort of core fundamentals of selling online where we buy products at a low price, we sell them at a higher price, we do this for products that have got a known sales volume, and we're able to figure this out and lots of different ways, and a known demand. We also don't need to worry about creating an Amazon listing because we can piggyback on an Amazon listing that already exists, there's no need for branding, or innovation or marketing. There's no need to pay for traffic, the traffic is all free. You can place teeny tiny orders of inventory to get started if you want to, there's no need to place large orders. It's simple. 

Traditionally, the way that this has worked, and again, we're not doing it the traditional way, but I want to give you some insight into traditionally how Amazon wholesale has worked. Traditionally, what you would do is you'd find a supplier, and you might do this by going out there to the web and searching for suppliers of a certain niche of product. Once you've found a supplier and once they've agreed to give you information about the products that they carry, you would search through those products to see which ones tick the boxes, and you would identify a winner. You would then go over to Amazon and you would set up your listing, again, leveraging a listing that already exists, but you would add your products into it. You would send your products into Amazon. So you would purchase the products from the supplier, you'd get them to your house, you would put them in their special boxes, put the special labels and shipping tags on them, you would package them up and then you would ship them out to Amazon, send them into Amazon. And then at that point, you'd be able to start getting sales come in. This is the traditional way, a 10,000-foot overview of how this business model has traditionally worked.

What we're now able to do though, because we've got the Buyers Club and because we've got the private warehouse, is bypassed the vast majority of the steps that I just mentioned. So in essence, what you can do is you can come into the Buyers Club, you can select your product, these have been previous that they already meet our personal criteria, they already tick all the boxes and they look all down to be products that are able to generate you or us sales and money. So you select a product, that's the first thing, and then after you've selected it, everything else, a lot of these sort of middle steps are taken care of for you. We will order the product for you. You don't have to go and negotiate with suppliers or anything like that, we will order the product for you get sent into our warehouse and other one of the very special and unique components here, we will prepare that product for you or send it into Amazon to your Amazon account for you, and it'll all be set up and ready to go. That means that you can enjoy the most enjoyable part of it or the most motivating part which is actually seeing the sales coming in, profiting, and then continuing to scale. You're able to do this because you're piggybacking on this free traffic that we've been mentioning, this is free traffic that exists inside the Amazon ecosystem. You're able to get to selling so much faster because we're doing so much of the heavy lifting for you. 

eFormula is the program that delivers the training, the tools and the resources and the support as well to enable you to do this in the simplest way possible. This is what we've been wanting to get out to you for a long time now and that we've invested a huge sum of money, time, and energy in actually putting together. 

eFormula is built upon a series of different components, and each one of these components of eFormula are designed to help you get up and running and start being able to make money ideally, as fast as humanly possible. I'll work through these components, and this is not an exhaustive list, if you want to find out all the information, I recommend that you go over to eFormula.com while there's still time, and check out all the information about this, but let me walk through give you an overview of the different some of the main components that we've got there. 

The first is the Buyers Club. I've already spoken about this a little bit, but this is our private repository of handpicked products that is going to provide you with a massive shortcut to being able to get sales faster, and nothing like our Buyers Club had ever been attempted before. We built a team of people up in the United States and Canada whose job it was to go out there and make agreements with dozens and dozens and dozens of the biggest suppliers of physical products in the United States, to get all of the product information, to create agreements with them, and then, after that's all been done, to filter through and find which are the best opportunities from this list. The reason that we've been sort of uniquely poised to be able to do that is because we already have a lot of street cred in the e-commerce game. We've been selling online for well over a decade, we sell online and offline. 

Now, one thing that we have is we have a very unique shopping cart platform called Cartzy. Some of you may be familiar with it, and Cartzy has got thousands of users who also do a huge number of sales collectively as well. So when we are going to the negotiating table and creating agreements with all of these suppliers, we've got a few trump cards up our sleeve, not just in our experience and our history in selling, but also in our reach, thanks to the shopping cart software Cartzy, that really work in our favor and allow us to create the best agreements possible and easily set up a contract where we can buy from these suppliers. All of this results in us having built out an enormous database of products that tick all the boxes, far more products than we could possibly use ourselves. We can pass on the fruits of that hard work to you, to our eFormula customers. So all of the product research has been done, we've removed a lot of the guesswork. All you need to do is you would log into your Buyers Club dashboard, you choose the product that you want to sell, and you'll be able to pick and choose from a list. You'll choose the number of units that you want, and you will fund the inventory. 

The inventory will then be sent to our private warehouse, where our staff on the ground and Texas will pack and label the products for you, and then send them into Amazon so that you can start reaping the rewards of having your product in at Amazon. What we've done is we've eliminated the need for you to do supplier and product research and also eliminated the need for you to handle the products or worry about logistics or anything like that. I think one of the best things about this is it will allow people to see that the system works right out of the gate and save an enormous amount of time, money, headache, and just bypass potential pitfalls entirely. 

You can be hitting the ground running. You can get new products for the Buyers Club every single month. By the way, I should mention that the products in the Buyers Club are not available to everyone, we've got so many products in there that we can sort of partition them out into different groups. This means that you don't have to worry about 10 different people selling the same product as you. In fact, the products are very, very limited to maybe like you and one other eFormula member would have the opportunity of selling them. And again, this is something that we work out based on the demand of the product. If a product has relatively low demand, and when I say relatively low, it could still result in $500 profit per month, then we might make that product available to just one member. But if a product has $5,000 in potential profit per month, we might make that available to two or maybe even three different eFormula members. We've taken this into consideration to make sure that we don't just give our members complete access to an entire database to choose from, because otherwise everyone would likely gravitate to the same products and we wouldn't be able to sort of monitor and make sure that the products were being reserved for people in an appropriate way. So that's a little bit about the Buyers Club. 

Now, another component that we've got, which is mission critical here as well, is the private warehouse. And this is, I've touched on this a lot already, but this is the solution, a start-to-finish solution really for your logistics where you'll receive your products, completely integrated with the Buyers Club 100%. They've been built up in tandem together, which is a massive advantage. The warehouse can do things like receive your products, it can add little inserts to the products, these are little flyers that might enable someone to eventually get on an email list, or there are a number of different benefits of doing that, and then send the products out to Amazon. Now, the warehouse is very strategically located. In fact, it's within two hours of something like 14 different Amazon warehouses. This gives us an enormous advantage because it means that we can process products quickly and get them to Amazon in the fastest way possible versus, for example, if our warehouse wasn't well situated in Texas, maybe could take a couple of days to get products into Amazon, but it's not the case with the way that we've designed the warehouse. 

I've personally taken out a five-year lease on this warehouse. We spent a long time searching for different warehouses, making sure that we went and inspected different warehouses, making sure that we got one that was just right for our requirements. This is one that's going to allow you to grow. In fact, it's something like 40,000 square feet, which is about the size of a football field, it's massive. And again, the whole idea here is for us to be able to do as much of the heavy lifting for you in the most cost-effective way to save you an enormous amount of time, money, energy, headaches, and just get products in so you can start selling as quickly as possible. And obviously, the value of that is huge. 

Now beyond the Buyers Club and the private warehouse, we've also got a step-by-step training, the core training that covers absolutely everything about how this model works. We deliver that over a period of eight weeks. It is incredibly comprehensive. Absolutely no stone has been left unturned here. We've got over 100 videos lined up, along with things like process maps, strategy manuals, checklists, cheat sheets, and much much more to show you exactly how you can get set up and start running this business for yourself, and hopefully, build this business into something that could be a successful business for many, many years to come. 

Now, in addition to the core training, we're also doing live coaching. This is subtly different, because the core training is around the videos that you can access inside the members area at any time. And there are about 100 different step by step videos organized into the different modules. The next component, though, is to do with live coaching. This is where you get on a coaching call with us every week. If you can't attend live, these are recorded and put in the members area for you. Through a period of eight weeks, we will go through the core components of building out this business. It'll give you a chance to have your questions asked answered by us to ask your questions. For example, we'll have one webinar, which might focus on showing you how to access the Buyers Club, another one on how to get your first product into Amazon as quickly as possible. Another one might reveal how to identify more products using another piece of software that we've got. And then there'll be further webinars on the likes of scaling, market expansion, traffic generation, and the list goes on. Just for now, I think the key thing for you to know is that the live coaching is the perfect complement to the core training. It's live. And it's actually it's not just one workshop per week, we've actually got multiple different types of live training each week, I think it's three or four different sessions a week. 

We've got the live coaching, but then we've also got something we call Office Hours, which are where we get on a call, and maybe for 30 minutes, we are going through sharing different things that we're doing in our business and taking questions as well and providing more examples. And then in addition to that, we've got accountability calls as well where you can jump on with one of our accountability coaches and we just walk through things that will that will serve you in helping you stay motivated and pushing forward and goal setting and making sure you're being productive in the work that you're doing and focused on the right things and much, much more. The live coaching is incredibly valuable, and we know that people learn in different ways, which is why we've gone ahead and poured so much planning into what we're ultimately going to be delivering here with the live coaching. 

Now, beyond all of that, we've got something called the Expansion Engine. This is software and a dashboard that can ultimately sort of serve as your master sales engine, if you like, and allow you to get selling on other places. So up until now, we've been speaking about selling on Amazon and leveraging the incredible Amazon ecosystem, which is phenomenal, but there are other places you can sell as well, such as Google Shopping, Microsoft, Walmart, the Facebook marketplace, and other social media as well as other alternatives, and get products in front of more and more people as a way of expanding your reach. This is often something that you can do at no additional cost to you because you can get products listed in different marketplaces, often with zero cost. But you need a storefront to be able to do this, and I want to stress here that for the core model that we're teaching, that we're focusing on in the first eight weeks, you absolutely do not need a website. But when it comes to scaling, you might choose to have a website, and the expansion engine can very quickly and easily create this for you and then enable you to have your products listed in a lot of different marketplaces and expand your sales and scale your sales. 

Another component that we've thrown into the mix here is something we call the Message Machine. And this is another software that we've used. We've set things up in a way whereby when products are shipped to your customers, and again, this is only possible because of the Buyers Club and the private warehouse integration directly with the Message Machine. So one thing we can do in the private warehouse is include a little cardboard insert of some kind, which gives our customers an opportunity to give us their email addresses and exchange for, for example, a voucher of some kind or a discount or something else. So for example, we could have a little piece of paper insert added into the product that says, "Go to my website and get 20% off your next order," and what they have to do is give the email address. Now if they do that, that email address will go into the system that we call our Message Machine, and it will ultimately allow you to build up a subscriber base, which you can use as another monetization method to boost your revenue even further. So the Message Machine is what allows you to do this. And it's also got built in done for you emails and funnels, which you can essentially just turn off if you'd like. 

So this has been incredibly well thought-out. Part of the magic here, I think, is that all of these different components work so well with one another to ultimately deliver up something which is a very synergistic experience. I think a foundational component underneath everything else is our support system. The support system is our main support center, it's actually on multiple different types of support. So for example, we've got a members' forum. This is where you're going to be able to connect with other members of eFormula, share your result, ask questions, and so on and so forth. And then we've got a private email-based system as well that you can use 24 hours a day, seven days a week, 365 days a year, meaning that you can get help from us from me and our coaches whenever you need it. We've got an incredible support team that is made up of people who have worked with us for years now. And they're located all over the world, which gives us great flexibility to be able to quickly respond to people. So it might be 2am in the morning in the United States, and if you're out in Perth, Western Australia, you want to send us a message, we've got people in that timezone that are able to help. These are not just random people we've dropped in. These are people in-house on our team that we've been training up on this model. I'll tell you what, some of them have actually been working this model themselves for six or seven years now, so they've got an enormous amount of first-hand experience and doing it themselves. And obviously this helps when we're providing support to you. 

One thing I will say is that through the broad spectrum of experience that we've got and this model from our whole support team, but also in my personal experience and the experience of my partner's. I can say that I don't think there would be any challenge that you would come up against that you won't be able to get past in eFormula because we've seen it all. We're lucky to have incredible resources that we can call on whenever we do find something that we haven't come across before. So essentially, we're going to be there in your corner helping you every step of the way, providing you with multiple touch points, and the support is incredibly valuable. I mean, the support could be the difference between having success with something and not having success with something. Because of that, we put a lot of energy and actually allocated a huge amount of funds to make sure that you've got everything you need when it comes to support. 

I'm not giving a full overview of every single component here, because to do that, you can head over to eformula.com and you can find out about it. But I have wanted to highlight some of the things that I think are most important, and there are three more that I want to touch on very, very quickly here and then I'll wrap up this episode. The next one is something we call the performance awards, and these are designed to really encourage and motivate and help you take action and get results. We've got a sort of a gamification system set up, that will award you with different rewards, some of them tangible that you can get your hands on, and some of them sort of more like status, where you get badges next to your name in different areas in the members area and the forum when you achieve certain things. So that's really good, useful, and we've found that to work nicely in the past, and also to provide more accountability. 

Another thing that we've got, which we've been doing for five years now, is a virtual summit. So it's a two-day live summit that you can tune into from the comfort of your own home. This has been a phenomenal success over the past few years, where we get expert speakers, conversion specialists, and we share strategies, not just specific to the eFormula business model, but to other models that might provide you with a good tie in for your business. These are things that, you know, could dramatically help cover the different bases that you have when you're running your business and hopefully help you build a bigger business. The live summit is something that we do, and that's a gain, massive, massive value, really try to make sure that you've got a unique experience, and that typically goes for two full days. So you'll have that as well. 

We've also got something called the Success Sessions, and these are additional training sessions that we have on a weekly basis with different coaches where we can provide you with more support and training and a different perspective on everything. So the Success Sessions are valuable as well. There's actually so, so, so much more that I can't possibly cover in a 30-minute podcast episode, or even a two-hour webinar demonstration. There's just so much to this, there's so much depth to it, there's so much thought that's gone in to putting this together that I feel like it's unlike anything that's come before. I want to really stress in the last couple of moments here, I'll take a few of our most common questions as well before we finish, but I want to stress that there's not much time to actually get into this, this is definitely going to be shutting down on Thursday at the latest and it may shut down even before then, just due to limitations that we have in capacity with, for example, the Buyers Club and the warehouse. 

The price of the program is set up in such a way where hopefully, we've made it as easy as possible for you to be able to get into this. We were originally thinking about pricing this for $19,997. It was going to be opened up to an inner circle group of a few dozen people to work directly with me and build this business out. But we wanted to make sure that we didn't exclude people from that because of the price, and we wanted to make sure that we didn't exclude people from it by only limiting it to a mastermind or inner circle that we've got because otherwise you'd never hear about it. So what we decided to do, ultimately settled on, was to offer eFormula to the public for $3,497 or four payments of $997. This gets you access to everything. By making sure that we limit the intake and the enrollment period, we can make sure that we ensure the quality of support and training that we deliver to you. It comes with a 30-day money back, no-questions-asked guarantee as well. We've got other different bonuses and bits and pieces on the inside that you're also going to be able to get, which I haven't covered here today. And again, you can find out a lot more about this by heading over to eformula.com. 

Just some final questions to wrap up here. Is it suitable for beginners? This has been designed with the beginner marketer in mind. So if you're just getting started, or you haven't had a breakthrough online, we've really designed this with you at the forefront of our mind. Now, if you are someone who has got a bit more experience, then fantastic. You're still going to be able to use this and you're going to be able to enjoy the fact that it is simple. It's not complicated to get going with. 

The next thing that we get from people is a question around, is this something that you can do from anywhere in the world? And the answer to that is absolutely yes, you can. In the past, you've needed things like reseller certificates, you've needed US companies or to be in the United States. But our Buyers Club and our private warehouse has meant that you can bypass all of that by working directly with us, essentially. So yeah, it doesn't matter if you are in Australia or Singapore or Argentina or New Zealand or the UK or the USA, it doesn't matter where you are, you can definitely start running with this, get up and running with this business model. 

The training schedule is going to be announced in the members area, but as I mentioned earlier, we do have multiple touch points each week. So there'll be different training sessions happening most days, in fact, and all of these will be added to the members area. So if you can't attend them live, you can go through them at any time. You might not have to attend any of these at all, you might just go through the A to Z video training and not attend the live training. That's also fine, but we want to give you the option. I would always encourage you at least to get on the core live coaching call that we have each week if you can. I mean, the office hours and the accountability calls are all a big bonus, they really are. 

Do you need an Amazon account? You will need an Amazon account, actually, and we can guide you through on how to get one of these set up in the right way. 

Are you going to have to run paid ads? No, absolutely not. We're relying on free traffic here 100%. 

Is this something that you can do on a part-time basis? Well, I think that the more time you invest in this, the faster you're going to get results, but in saying that, if you've got somewhere in the realm of five to 10 hours per week, that would be enough to go through the training and to start taking action and eventually have products up there to actually making you money. So it's not something that's going to necessarily require an enormous amount of your time or for you to give up other things that are important to you. So if you're already running some kind of an online business, or if you've got a day job, then the whole idea behind this and the way that we've designed it is so that you don't have to give up on other things that you've got happening in your life. You can simply slot this in and we will continue to sort of train you on how we think is the best way to organize that once you're on the inside. 

This is a wrap for episode number 108 of the growth booth. As always, you can go and check this episode out by going over to thegrowthbooth.com, navigate to episode number 108. You can find it on Apple Podcasts, Spotify, YouTube, or wherever you'd like to consume your content. I want to just stress one more time, the time is running out. Time is of the essence. There is a very limited opportunity to enroll in this. So if you if you like what you've heard here, if you want to learn more, head over to eformula.com, and if you decide that this is something that's right for you, and I think you're going to get to a point after you've consumed some of the content at eformula.com or listened to this podcast to know whether or not it's right for you. If you feel like it is, if you can see that this could potentially work for you, then I would urge you to take action and jump in while you still can because this will close down at the very latest on Thursday, the 1st of February. There's a good chance that it could even be closed before then if we hit capacity and can't take any more members on because we've basically sold out and reached capacity for the Buyers Club and the warehouse. So again, right now, head over to eformula.com to learn more. This is very limited. It's closing down soon. You are 100% backed up by the 30-day money back guarantee. There are no hoops to jump through. If you jump in, check it all out and just change your mind. That's fine. We will take good care of you, make sure you get your money back. At least you would have had a chance to have a look behind the curtain on the inside. 

The last thing I'd say is all the best to you, whether you decide to take this opportunity and participate with me in eFormula or do something else. All the best of luck for the year ahead, and I hope this is your best year yet. Thanks for tuning in. I'll see you again soon on another episode of The Growth Booth. Bye for now.