Are you looking for an honest review of Just One Dime? Do you wonder if it is just a scam?
Can this course really help you make money online?
I have passion to help people avoid scams online and make real money. So I have done through research about Just One Dime to help you decide if it is a legit course or not.
As a disclaimer, I’m not affiliated with Just One Dime, which means I’m not paid to write this review to promote it. So you trust my words are unbiased.
At the end of this review, I’ll also tell you a much better alternative that enables me to make a 4-5 figure monthly passive income.
Here’s what’ll cover in this Just One Dime Review.
Who is Seth Kniep?
Seth Kniep is an Amazon seller who claims to make over 1 million dollars per year.
If this is true, I think he is just talking about the total sales revenue, but not net profit. Because the net profit margin on Amazon is known to be pretty low. I will tell you why in a later section.
Because of frustration at his job, he started doing his own business. He didn’t want to work for others and make money for them.
Seth Kniep started exploring the opportunity to sell on Amazon. He claimed to double his income from his prior job.
Having achieved success in Amazon FBA, he claimed that he wanted to help other people to achieve the same and started to create a course.
Seth Kniep doesn’t have a personal YouTube channel. The YouTube Channel is the course name, which is Just One Dime. It has about 236K subscribers on YouTube. I watched some of the YouTube videos, many are promotional videos that aim to promote his course.
On Facebook, Seth Kniep has few followers only. There are around 3k followers at the time of writing.
What is Just One Dime?
Just One Dime is a course created by Seith Kniep. It teaches you how to make money with Amazon FBA.
If you don’t know what Amazon FBA is, let me tell you. FBA stands for Fulfilment by Amazon, which means you buy and store your products in Amazon’s warehouse.
When someone places an order on the Amazon store, Amazon will fulfill the order by shipping the product to your customer automatically. That way, you don’t have to stock the products yourself and handle the logistics.
Seith Kniep claims that all he teaches in this course are tested by himself, so what exactly can you learn in this course?
You will learn the whole process of finding and selling products on Amazon. However, I found that there are no secret strategies taught in this course. There are many similar courses teaching the exact same things.
There are over 200 videos of training, which will break down every step of the process to make money with Amazon FBA. The training videos are quite easy to follow.
There is also a private community where you can ask questions and interact with other students, but it’s not very helpful. They are your competitors and are not interested in helping you succeed.
There are also 3 hours of live weekly coaching workshops, which are not organised at all. It’s like a random Q&A session without any structure. So I don’t find it valuable.
Just One Dime Pricing
Just One Dime is not cheap. I think it is overpriced. It costs $1,997.
You can choose the payment plan, but it will be more expensive. You have to make 3 payments of $597. Also, you cannot get access to the hot products ideas and supplier information if you choose this payment plan. So you are actually forced to do the one-time payment.
Personally, I won’t invest $1,997 into Just One Dime.
Just One Dime Pros and Cons
- The course will teach you the basics of doing Amazon FBA
- The videos are quite easy to understand
- The course is too expensive. There are other cheaper alternatives
- A lot of information taught in the course can be found online for free
- Amazon FBA is difficult to make a decent amount of net profit because of intense competition
- You need a lot of capital to start an Amazon FBA business
- The private community is not very helpful
- There are some upsells after you enrol in the course
Is the FBA Business Model Suitable For You?
There are lots of things that Seth Kniep doesn’t tell you because he wants you to enrol in his course. So he only tells you the positive things about Amazon FBA.
From my observation, the profit margin of most Amazon vendors is, at best, slightly higher than 10%, due to the intense competition.
In fact, starting an Amazon FBA business requires persistence and relentless focus. It’s much more difficult than you thought.
Below are the reasons why I don’t recommend FBA business model:
FBA business needs a large upfront cost
To launch a business on Amazon, you will need $15-20k, at least.
You have to spend money on product samples and inventory, labelling and shipping costs, product launch services/pay-per-click advertising and Amazon Marketing Services. The first 10k will be quickly exhausted once you start selling on Bezo’s platform.
In one word, it is time-consuming and costs a lot of money. So, you must think carefully if you really want to risk your hard-earned money.
FBA Business model is complex
Though Amazon does a lot of the work for you, it still requires a lot of work to get a product listing up and optimized.
Apart from that, you have to deal with numerous dry tasks on a daily basis. For instance, you have to negotiate with suppliers, make comparisons on shipping companies, freight forwarders and comply with the regulations of Amazon and local governments, etc.
This process is too sophisticated for beginners who might be just looking for a side hustle or a source of passive income that requires little time and investment.
There is no quick cash flow
Cash flow is the lifeblood of a business. However, in the Amazon FBA business model, mostly sellers have to invest a considerable amount of money to purchase inventories from suppliers in China.
If you want to create a unique private label product, the costs will be even higher. For example, most manufacturers in China charge you a few hundred dollars just for creating a prototype. If you don’t trust me, you can ask for a price on Alibaba.com.
In most cases, production may take 1-2 months depending on the nature of the products and quantity. Afterwards, it takes 2 weeks in shipment and customs clearance before arriving at the Amazon warehouse.
This process indicates that it can take up to months before you’re paid for the inventory you bought.
Price war reduces profitability
Price war is ubiquitous on Amazon. Whenever a seller tries to attract more customers by lowering the prices, other sellers will be forced to cut their prices as well.
To avoid a net loss, you might have to cut the product costs. This results in lower product quality, negative feedback from customers and hence a drop in sales.
Apart from the intense competition, you have to deal with changing sales tax laws, category restrictions and Amazon policies.
In the worst case, Amazon might even ban your account permanently if you mistakenly violate some rules.
Is Just One Dime a Scam?
I cannot say Just One Dime is a scam. At least I don’t have evidence to say so. However, it doesn’t mean I recommend it.
While Amazon FBA works for some people, it is not for everyone. I think Seth Kniep is overpromising people in promoting his course. Most students fail to make a penny.
Also, it’s quite risky to start an Amazon FBA business because you need a lot of capital buy products and do advertising. On Amazon, there are so many sellers so you will face intense competition. You cannot set your price higher than competitors, otherwise you will get no orders.
Actually, as I mentioned, it’s hard to make money on Amazon nowadays. If it is that profitable, there is no reason that Seth Kniep would devote most of his time selling his online course instead of scaling his Amazon stores.
Therefore, I don’t recommend doing Amazon FBA at all, instead I have a better recommendation for you if you want to make money online.
This better alternative has enabled me to make a 4-5 figure monthly passive income. It’s legit and sustainable.
If you want to know more about it, let me tell you in detail in the next section.
Is There Any Better Alternative to Just One Dime To Make More Money?
If you’re new to online business, you might wonder if there’s a better business model that doesn’t need initial capital and can do it as a side-hustle.
Of all the business models I’ve tried, affiliate marketing is the easiest and most rewarding so far.
In affiliate marketing, you can run your business almost with zero cost. Most importantly, you don’t need to invest in creating and developing any products.
Also, it is less time consuming since you don’t have to manage inventory or handle customer service.
You can enjoy a steady stream of passive income while going on vacation or working a full-time job.
Since the world is full of uncertainty, I’d always choose a business model that has the lowest risk.
But How Much Can You Earn in Affiliate Marketing?
A 21-year old student from my #1 recommended training platform of affiliate marketing was able to earn $7,395 in just 1 week, which means he made more than $1k a day…all while using free traffic methods and affiliate marketing.
Wealthy Affiliate has existed for more than 10 years and there are many success stories over the years.
To give you more examples, here are some of the other inspiring success stories of Wealthy Affiliate members.
Where to Join Wealthy Affiliate?
Wealthy Affiliate has a very simple pricing scheme. It has a free and premium membership.
If you want to feel about Wealthy Affiliate, you can sign up for the starter membership here (no credit card required). You can select to be a free member with no time limit.
And as a starter member, you can get instant access to the community, live chat, over 500 training modules, 2 classrooms, networking, commenting, 1 free website, access to the keyword tool.
You can enjoy all these values without paying a penny.
So I strongly recommend you to register a free account and see it yourself.
If you’d like to be the next success story and get the most out of Wealthy Affiliate, you can upgrade to the Premium Membership later.
After that, you can get access to everything without the bother from any upsells.