From being $5,000 in debt to becoming a successful seven-figure entrepreneur, Tom Wang knows what it takes to be successful in the Amazon FBA business. People often think of earning through Amazon by buying stock, but they highly overlook the other, more rewarding system of associating as a third-party (3P) seller.
With the rollouts by big corporations and Amazon being tagged as the Fifth Avenue of the digital age by Thrasio (who boasts being the fastest profitable U.S. company to ever reach a $1B valuation), the e-commerce trend continues to rise. The journey of this millionaire is nothing but inspiring. Read on to find out how Tom became a success story in only three years.
Tough times, tougher calls
Tom comes from a family of hard workers who strived hard every day. Tom’s mother was a schoolteacher who eventually juggled three jobs a day. His father had an ordinary job as an office clerk. Even after going all-in, they could not make enough money to sustain house expenses.
In dire need of funds, the Wang family had to take a loan out for Tom’s choice to join hockey classes and pursue a career in hockey. There were times when affording a $20 meal became a challenge for him. Gradually, as the situation improved and the Wang family started to get on their feet, they bought an apartment with all their savings. Tom wasn’t satisfied yet. He was striving for more. He knew something big was coming his way, as he was a man with a plan.
A ray of hope
Tom continued believing in himself, and rather than falling into traps of self-doubt and mental pressure, he kept improving himself and tried his skills at different things. He was looking for that one perfect click to eventually come his way.
In 2016, Tom started importing hoverboards. He used the last of his savings ($5,000) to buy the inventory and create a website to sell the products. He thought he was going to start raking in the money, but the product made zero sales. It was a major failure and it shattered Tom, until someone referred him to sell them on Amazon. The listing was made and, by the next morning, there were three sales. Wow! Now, that wasn’t enough to pay off the $5,000 lost he had, but it was the starting point that led him down the path to become an Amazon seller full-time.
Living the Dream
Tom’s approach and timely decision helped him become the millionaire that he is now. In 2017, Tom and his girlfriend Christina started Sdara Skincare, and after ten months of patience, there were almost no sales. Just when he decided to quit the business, his partner encouraged him to go on. In due time, Sdara took off, and their sales started skyrocketing. Sdara has generated over $8 million USD to date, and the couple is now living comfortably. They traveled across the world and kept the engines at Sdara revving. In 2020, they sold Sdara Skincare for a seven-figure profit. However, he’s not done. Tom is still associated with and investing in the Amazon FBA model.
“I want to give you two resources that really helped me find success,” he said. “The first is the book Shoe Dog, and second is the film called The Dawn Wall. It’s amazing. If you’re going through some hardships right now, just know that one day it’s going to make for a better story when you succeed.”
Tom aspires to help people discover things underneath the iceberg and inspire them with what he has learned in his journey so far.