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When launching a physical product, start with Amazon. When shopping online, customers have a built-in bias towards making purchases on Amazon, so there is little friction to get someone to buy there, as opposed to other places like your own e-commerce site.
However, as you progress, it will probably be a good idea to start making sales on your own site, whether through Shopify or some other platform, so that you can capture emails and have other methods of communicating with your customers.
We also talk about the psychology of marketing, how to be a better marketer through reading humans, and why females are actually responsible for how the definition of beauty has evolved.
Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!
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Points to Keep In Mind
- When you sell on Amazon, people have an existing bias: They are used to purchasing things on Amazon
- Launch and test on Amazon, and then, once you have good momentum, you can consider moving to your own ecommerce or shopify store
- You have to look not only at absolutes, but at subjective progress, and relative progress to yourself
- Entrepreneurs need to be good at marketing
- All marketing is rooted in psychology
- Even the non-emotional people listening, who think they make decisions based off pure logic, are more swayed by emotion than they think
- If people just like you, they buy from you no matter what you’re selling
- The association bias will make you like things that you associate with other things you like
- The availability bias makes us attack things that are more obvious and easy to see, while ignoring the bigger problems that are a bit more complicated to think about
- The science shows that people learn slightly better online than in the classroom
- Online education allows us to learn from the absolute best teachers in the world
- In reality, women are determining what is considered beautiful, because they tend to be far more picky than men
- In humans, females may have evolved to prefer males who were “de-weaponized.” Smiling reveals a lack of fangs
- Males need to get in touch with their softer side
- Money is a relatively new invention, and it has changed our culture a lot
- The long childhood is one of the main things that separates us from apes, and the strong family culture throughout that time
- Children do better with a dad who participates. Parental investment from both parents contributes in a major way to the quality of childhood