- Billion Dollar Sellers
- 🤑 The 1 thing that could save you millions
🤑 The 1 thing that could save you millions
COMING to YOU FROM 16.3298° N, 86.5300° W
🏆 This week’s Dream 100 inductee
🤑 QSBS could save you millions of dollars
🚢 Container prices continue to rise
🧾 You can run but you can no longer hide
🥳 Party like a billionaire
🇧🇿 Central America’s hidden secret gem
Welcome Matt Altman to the Billion Dollar Dream 100
Every Thursday I announce a new member of the Billion Dollar Dream 100. These are the people you should follow and get to know in our industry.
Matt Altman is today’s inductee into the Billion Dollar Dream 100.
It was early May 2022. A group of 40 or so high-level Amazon sellers had gathered at a castle an hour outside of Paris, France for Howard Thai’s high-ticket Elite Seller Society mastermind.
While the presentations were great, it was sitting around a wood campfire in the courtyard as night faded into morning where the true value was. Each night, sometimes until 4am or later, 12-15 of us would talk business and life around the campfire.
Nuggets were flying left and right, and one of the people dishing them out like candy at Halloween was Matt Altman. Rich Goldstein had a 6am flight and tried to excuse himself several times to get some shut eye, but FOMO kept him coming back to the fire for more.
Matt manages several hundred million dollars of Amazon sales for a number of clients, and he knew the solution or work around to every problem.
“Ranking - ah, that’s easy. Just do this …” he would say. White hat, grey hat, black hat, proprietary systems. He was on the cutting edge of them all.
Those gathered around the fire would gaze intently, mouths wide open in amazement. “What?? Holy shit - that really works?” you would hear over and over.
“Yep,” Matt would quip back. “Just launched 13 new SKUs last week and they are all #1 in a highly competitive category today.”
Needless to say, Matt won the cash prize for best speaker that Howard doled out, and he was immediately invited to speak at my Billion Dollar Seller Summit in Puerto Rico in June 2023, where he crushed it again.
Today, he has jumped across the pond to Europe to join forces with one of the kindest and most honorable lads in the business, Clear Ads founder George Meresa.
Together they are elevating the bottomline of every brand they touch.
If you come across someone smarter that Matt in selling on Amazon, please let me know. I am not sure such a person exists.
💰 BILLION DOLLAR STRATEGIES
🤑 QSBS COULD SAVE YOU MILLIONS of DOLLARS
Imagine being completely oblivious to one of the most consequential personal finance decisions you may face in your financial and/or founder’s journey.
What’s more, what if you only had 30 days to make this decision and process the necessary paperwork?
Below, I demystify the largely unknown 83(b) tax election and explore why this financial feature needs to be on the radar of all founders and early-stage startup employees.
What QSBS (Qualified Small Business Stock) Is:
QSBS is a tax break for shareholders in certain small businesses (C corporations). It allows them to pay no taxes on up to $10 million in gains or 10 times their investment, whichever is greater.
For example, Invest $100 and pay no taxes on gains up to $10 million.
Who It Applies To:
It benefits founders, employees and investors.
You must hold the shares for at least five years.
It applies to both federal and, in most cases, state taxes (except in a few states like California).
Steps to Benefit from QSBS:
Invest in a Qualified Small Business: The business should be a C corporation.
Hold the Shares for Five Years: This duration is crucial for the tax break.
Understand the Limits: Know that the tax break applies to gains up to $10 million or 10 times your investment.
Consider State Taxes: Most states honor QSBS, but some like California do not.
Plan for Multiple Beneficiaries: You can potentially increase the tax break by allocating shares to family members or trusts.
File Properly: Ensure compliance with IRS rules, like the 83b election, which requires specific paperwork within 30 days of receiving shares.
🚢 CONTAINER PRICES CONTINUE to RISE
Freightos has a nifty FBX index they keep updated on the latest global sea freight prices.
On October 26, a 40’ container from east Asia to the US West coast was running $1,564 (excluding freight forwarder & paperwork fees). At the end of last week that had risen 2X to $2,966.
But from the east coast of Asia to Northern Europe, prices have 5x’d due to the Houthi issue in the Red Sea. Prices skyrocketed from $1,059 on October 23 to $5,492 last week.
All those containers have to go back to Asia after being unloaded, and it is a lot cheaper the other way. From the US West Coast to east Asia a 40’ container currently runs about $540, and $1,167 from Europe to Asia.
🧾 YOU CAN RUN BUT YOU CAN NO LONGER HIDE
New Corporate Transparency Act (CTA): A new US law that started earlier this month requires many US businesses like corporations, LLCs, partnerships and some trusts to report ownership details to FinCEN. Sole proprietors without a business entity are excluded.
Who Must File:
Businesses formed on or after January 1, 2024, must file within 90 days of formation.
Existing businesses as of December 31, 2023, must file by January 1, 2025.
File reports online at FinCEN's website.
Tax-exempt entities, federally regulated entities, and large businesses (over 20 employees and more than $5 million in receipts) are exempt.
What to Report:
Report details of individuals owning at least 25% of the business or who have significant control (like officers).
Required details include name, birthdate, address, and an ID number (like from a passport or driver's license).
Fines up to $500 per day (up to $10,000) and up to two years in prison for non-compliance.
🥳 PARTY LIKE A BILLIONAIRE
Jeff Bezos celebrated his 60th birthday with a grand, private party at his multi-million-dollar home in Beverly Hills, hosted by his fiancée, Lauren Sanchez.
The star-studded event last weekend was attended by a host of celebrities including Jay Z, Beyoncé, Bill Gates, Oprah, Kendall Jenner, Hailey Bieber, Katy Perry, and Orlando Bloom.
The party featured a "celestial, space-age" theme, complete with a replica of Bezos' first Amazon office and his old computer chair. Guests were required to secure their phones in pouches as photography was banned, ensuring the event's exclusivity.
The celebration was a lavish affair with a diverse range of catering, from caviar to McDonald's, reflecting Bezos' first job at 16. The party, which lasted until around 3 am, was also attended by numerous Amazon executives.
Despite the lack of social media coverage, some guests, including Ivanka Trump and Heidi Klum, confirmed their attendance and shared their experiences online.
🚀 WALMART ACCELERATED REVIEWS FOR SALE
Walmart's Review Accelerator program has Introduced a new pre-purchase reviews feature – a game-changer for boosting your product reviews.
How it works:
a) Post Purchase: Walmart contacts real customers on your behalf who naturally purchased the product. You pay $10 per published review (up to five).
b) Pre-Purchase: You can incentivize customers to buy your product and leave a review with a refund, paying $7 per review (up to 11 reviews max).
Simply log in to your Walmart Seller Center account and find the Review Accelerator under "Growth and Opportunities."
🧳 TO TRAVEL IS TO LIVE
My “why” has led me to visit 94 countries and all 7 continents. I create my life and work around my life. Not my life around my business.
I hope to inspire you in your journey of business and life with photos, a short video I filmed, and a brief description of my time there.
Central America’s Best Kept Secret
Belize is one of Central America's best-kept secrets. I have spent a lot of time there, so I know first hand.
Here are seven compelling reasons why you should consider visiting Belize:
English-speaking Haven: Unlike its Spanish-speaking neighbors, Belize is an English-speaking haven. This former British colony has English as its official language.
The Belize Barrier Reef: Belize is home to the second-largest barrier reef in the world. This underwater paradise is a mecca for snorkelers and divers. The Great Blue Hole, part of this reef system, is a world-famous dive site.
Jungle Adventures and Luxury Spas: Belize's lush jungles are not just for adventure seekers but also for those seeking relaxation and rejuvenation. These spas offer unique treatments using local ingredients, set against the backdrop of the serene tropical forest.
Ancient Mayan Ruins: Belize is a treasure trove of Mayan history. Sites like Caracol, Xunantunich, and Lamanai are just a few of the many ruins that dot the landscape.
A Melting Pot of Cultures: Belize's rich cultural tapestry is woven from diverse influences, including Maya, Mestizo, Creole, Garifuna, East Indian, Mennonite, Arab, and Chinese. This diversity is reflected in the country's music, festivals, and, most deliciously, its cuisine.
Charm of Ambergris Caye: Ambergris Caye is the largest of Belize's islands and a paradise for beach lovers and water sports enthusiasts. Accessible by a short flight or ferry from Belize City, it’s famous for its laid-back atmosphere, beaches and vibrant marine life.
Caves and Cenotes: Belize's network of caves and cenotes (natural sinkholes) offer a unique experience. Cave tubing or kayaking through these ancient geological formations is both thrilling and awe-inspiring.
✌🏼 Peace out from the Online Sellers Cruise and Kevin & Norm Nightly Cigar Smoke Out (today docked in Roatan, Honduras).
Holler at you again on Monday.
The answer to today’s STUMP BEZOS is
7 days, last click