0:46 I have been working at Amazon full-time (More than 5 years) You see, you need to be looking for a single profitable product to sell, not a profitable product niche to operate in. If you are looking for a profitable product niche, you are never going to be looking for the right thing. You are going to be completely overwhelmed from the beginning looking at mountains of data that are not at all relevant to what you’re trying to do.
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I found with my prior books that the traditional publishers would more or less wait for foreign publishers to call and then they would sell the rights and my split would be minimal. Typically the split was 50-50, but out of my 50 would come my agent’s split. I was competing with too many of the other authors in the publisher’s stable to get any attention from foreign publishers.
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Seim: We used data on consumer purchases at Amazon and other online retailers, as well as spending at offline retailers, to try to look at how demand evolved over time and how that demand related to the fulfillment center network that’s near you when you make a purchase. That allowed us to look at how a demand responds to the presence of a fulfillment center. Do we see a spike in demand in an area where we have same-day shopping as it is introduced? If I know demand and I know how many packages are shipped from a particular fulfillment center to the consumer, I can get a sense of what the shipping costs might be for doing that. I can compare that to what shipping costs might have been had they chosen a different location.
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