A review of 7 Figure Cycle
UPDATE FOR 2019... NEW LAUNCH IS COMING! Here's my Parallel Profits review.
FULL REVIEW + Q&A:
- What is it exactly and how does it work?
Ecommerce is still on the rise, there's still a lot of opportunity and demand.
7 Figure Cycle is about mining those product opportunities and selling them to an audience who already have that demand, making about a 30% profit and compounding it exponentially in 2-week cycles.
Step by step description of the process:
1. Find a supplier. Lists will provide it, and it's very easy to do on your own. It's in their interest to be found.
2. Filter out and find winning products. Act as if you were the buyer... who would want to buy that? Can they do it easily already, and at what cost? The answer to that will help you discover the opportunities.
3. Write the Amazon / Shopify / Wordpress listings (depends where you want to sell your stock). It's mostly about making the product's benefits into bullet point lists.
4. Ship inventory to the fulfillment guys (Amazon via FBA, your warehouse... you can choose a business model where you don't even see the product in person, ever).
- What are the alternatives? Could they be a SCAM?
The reason why eCommerce is still growing year by year is because historically it relied on more complexity. You had to set up the store, the merchant accounts to receive payments, managing your product stock, customer support, developing a whole website to be the store, caring for the relationship with the suppliers...
Plus, everyone was trying their luck with SEO and Ads.
Pretty much all of that has been made very easy now, and automatic. In fact, there is not a single thing from that you have to take care of with this model. You don't have any store of your own because you are using already established ones to do everything trough them, there is no physical product to manufacture or individually ship, they take care of customer support, etc...
There are literally millions of products out there for which there is unsatisfied demand (it doesn't have to be a new invention at all, just something improved, or a little cheaper, a different color, packs...). You just need to search for something you can improve in one way or another, and pull the trigger. Honestly, If you don't, the 7-Figure Cycle will never work and this entire review will have been a waste.
- The concept of compounded, exponential growth of your income
It's been known for a long time, yet it almost never doesn't work in practice.
The old casino scams, getting rich with the stock market, yearly bank return, sports betting...
The theory is this: If the percentage of gain stays the same, the amount goes up exponentially. If you make a stable 30% profit every two weeks, at the end of the year you would have multiplied your initial investment by 917 times.
Obviously that's not going to happen because in reality some stock cycles will take a bit longer, problems will come up, some weeks will be slow... but you get the idea. 1.3 to the power 26 = 917.
The problem with the famous ways to exploit this concept is that also the risk increases exponentially. The good thing here is: there is very little risk. The worst thing that could happen is not being able to sell all of your stock, so you would have to wait longer which will slow down the process a little bit, or liquidate and maybe lose a bit of money. Nothing pricy.
- Who's behind The 7-Figure Cycle? What's their credibility? Are they legit?
4 guys mainly: Aidan Booth, Steve Clayton, Chris Keef, Todd Snively.
(Yes, we need more women in the industry)
The face of the program, Aidan Booth, has a blog himself: Aidanbooth.com
Another guy has a warehouse on his own and is heavily involved in this business model: Yourwarehouse.com
They have been involved in online business for a long time, and specifically in this approach since 2010, where everything was in its infancy and selling online was mostly done trough eBay, as there was no FBA (fulfillment by Amazon). They have slowly perfected their system and learned their way to their current success.
Other project was the 100k Factory, which ended up in several success stories from their students, which they proudly show as proof of their credibility. It got great feedback!
- Are competitors a big problem?
You might be thinking: But if could do this, everyone else could as well, there's nothing special about me. Well, every successful company and rich person started there. Look around, who's actively trying this? Thinking or planning about it doesn't count, obviously.
Truth is, plenty of undiscovered opportunities exist: Millions of products (supply) and millions of customers in need of something (demand). Rinse and repeat until those two things align... NICHE DOWN! Specificity will beat competition.
Find a market, a product, an untapped group of customers... there's always an angle out there that nobody else has realized, yet.
- Is there any discount, coupon, bonus or way to download a free PDF?
Nope. It's an interactive platform which cannot be simply uploaded. You could get parts but it would be incomplete. It's updated often and you would miss that as well. Plus, nowadays these things get taken down incredibly fast, if you can find it, so can the Copyright people. You also would have to dig trough mountains of fake download buttons which seek to install scammy software on your computer.
- How much time and knowledge is required?
There is only one valid answer for this: The more time, the more knowledge you bring into this, the better.
Having said that, a time investment of 3-4 hours a day, 5 days a week, is enough to generate a juicy income. Plus, the further you go, the easier and faster everything becomes.
In terms of knowledge, there's actually not that much to learn here. Some previous experience will help, but it's not required. These are the main things you'll have to learn:
The process of finding winners out of suppliers and products. Writing attractive listings. Learning how the store works and their terms (be it Amazon or whoever you use).
All of this is taught in the 7 Figure Cycle program. Steve Clayton happens to be a great teacher.
This knowledge will also be very valuable to you in the future. It can give you the experience and know-how for future ventures of yours.
- What kind of capital or initial investment does it require?
As low as you want. You can always try your luck ordering a few units and testing whether it sells well or not.
The only setback to that, of course, would be missing an opportunity which might not be there for the next cycle but hey, there's less risk involved. Aidan Booth generally recommends $100-$1000.
I would love to show you honest case studies, but 7FC just launched and case studies need a bit of time. That's a good thing though, as you can exploit it before most other people... waiting for social feedback is nice but it means your competition is going to be established by the time you purchase and take action.
- What about the costs associated to maintaining a physical stock / inventory?
This happens to be what makes this model or approach so sweet. You don't have to develop any product, it's other people's brands and goods. You are just helping them sell those.
Some wholesalers / distributors have catalogues with tens of thousands of products in there. Be smart, filter out what wouldn't work in your niche, and find the winners.
By the way, just to be clear: This is not dropshipping. It's infinitely better and still an open, unabused model. Get in before the Chinese! If you live in the US, these goods will come from USA warehouses.
7 Figure Cycle Reviews - Aidan Booth's system
Part 2 - F.A.Q - Q&A - Frequent questions and answers
How much could you end up earning? What's the limit to this approach?
There are people making millions every month, it's a great biz model in the sense that you can make it as specialized as you want in order to dominate a small topic, but you can also expand, scale up and sell thousands on top of thousands of units.
Any inconvenience with the cashflow?
Alright, the optimal scenario is when you can immediately invest revenues back into the business. Very often this is not possible, as for example there may be a delayed frequency of payment by your payment processing company, or in general the guys who have to pay you. If this happens, which depends on many factors, it would slow down the whole flow of events, so do take it into account toward your financial projections.
A returns allowance has to exist as well, as you wouldn't have the money to make refunds if you spent it right away in the next cycle's inventory.
Ecommerce startups with a success story to tell
Jessica Alba: When she was pregnant, she learned that many baby products can be toxic. She started a company in response to this underserved market: The Honest Company. It's now worth billions. As written above, there are economic holes, untapped niches, and unrealized opportunities everywhere. More than entrepreneurs actively looking for them, actually.
Alibaba's Jack Ma: A man who grew up poor and repeatedly failed entry exams. With consistency and persistence, his online store is worth tens of billions now. Was there something special and magic about him or his idea? No, he just identified a model that wasn't being exploited to its fullest potential, and worked like a lunatic. That's it, he took action. Had he thought about it too much, he probably would have never gotten started. Couldn't any other big enterprise do the same? Apparently not. Remember, a good plan beats a perfect plan.
Michael Dubin: A $1 subscription service where each month you are sent a quality razor blade. Can you believe the company sold for $1 billion? The idea was truly simple but along his funny, viral video, he made a ton of money. All thanks to the Internet - online commerce.
Finch Goods, BeardBrand, FUGOO are all brands that should get you motivated because they started with limited resources in very competitive, sometimes saturated marketplaces and they achieved unbelievable success in the 7 figure mark, making their founders a fortune. The opportunities are truly out there.
For more inspiration, there's a great book on ecommerce and online success you can read while you implement the various techniques you'll learn.
Do I have the possibility of a refund if I feel I'm not getting what I paid for?
You probably won't have to because the concept behind 7FC is wonderful, but yes, there is a guaranteed money back policy. Clickbank has that policy for everything going trough their system, as it's 7 Figure Cycle's case. They store the product so it can be digitally delivered to you after the purchase, and payments go trough them.
That's also the reason why this could never be a scam, CB was founded in the 90s and are industry leaders. Look them up on Google. Most programs of this sort use their marketplace to gain exposure. You've most likely been sent here because someone promoted 7FC to you, after having found it in CB's marketplace and deemed worth advertising. They have almost no negative reviews!
Can I do this even if I'm not Internet-savvy at all?
You obviously have to understand how to move around the Internet with ease, but determination counts and there's nothing you won't learn if you're determined. There is no website building, no coding, no webhosts to deal with, no software to learn... probably the most complicated thing you'll face is getting to understand the workings of your online store of your choice, its system and terms and conditions. That takes a few days, maybe a week. It's just time, not any particular skill.
What about optimization and testing, isn't that difficult?
Test and optimize are two terms you'll read a ton of in online business. The concept of testing is changing different variables (price, product description, the product itself...) and measuring how the visitors react.
For instance, having a longer description might actually hurt conversion rates (the percentage of people who make a purchase in relation to the ones who click the exit or back buttons). This could be because the reader gets more lazy and doesn't want to read a whole paragraph. It's just an example, but you get the point. Trying all kinds of things and measuring what produces the most sales.
Optimization is basically using the information that testing gives you and applying it to your system to produce the most optimal results you could produce in your context.
An idea commonly implemented by ecommerce owners is to offer free shipping... if it helps you sell 10% more, it's probably more profitable to sell 110 products with free shipping than 100 without. Just do numbers and test, test, test. The starting point should be the least effective time, it can only get better from there.
What about product listings and their design?
You're probably going to use Amazon. The listing only has to be written and the design is courtesy of a multibillion dollar Internet giant. They are the masters of conversion rates and everything is tuned to perfection. You do not have to worry about design or layout at all. Just write your description and benefits bullet lists with detail and genuinity.
If you are using Shopify or Wordpress, it obviously gets more complicated but you can download or buy pre-built themes and templates. A very good tip is also to copy your competitors (in a good way, not plagiarizing). See exactly what they're doing, take what's best in your opinion, and improve it. The last and most expensive resource is to hire a web development and design team... the only disadvantage to that is that it would slow down a little bit the process of hitting 7 figures.
Will social networks help me?
100%. You can build a following if you put forward interesting and original content, which is not so difficult to do. Everyone tends to go for the low hanging fruit without thinking how they could show people something original and shareable. Watch Michael Dubin's (the razor blade guy we mentioned earlier) viral video... it's NOT all invented. You don't have to be a genius to get millions of likes.
Whether it's Pinterest, Facebook or even Twitter, the idea is to create content that would catch your own eye and build an audience over time. Then, without being so direct and salesly to put them off, talk about your products. If the audience is targeted enough, you'll see an increase in revenue. Sky's the limit when it comes to building a brand over social networks and promoting the right thing to the right person.
- THE END -
So, what are you going to do with the tools and information 7 figure cycle will give you? Hesitate? Or take action and cross the finish line at all cost? Just provide something you know has the authenticity of providing more value than the price they send your way, and it will happen sooner or later. Deservedly so.