I have always said if you are looking for easy money, go into the stock market before you go into Amazon.
Amazon and Shopify are equally difficult for their own reasons.
But if you want real money, the money that lasts longer than the monthly check, here it is.
Don't know where to start?
The allure of Amazon FBA (Fulfillment by Amazon) is undeniable. Amazon handles customer service, you can outsource most of the tough parts, and you don't need to own your warehouse. But before you get too excited, let's be clear – it's no get-rich-quick scheme. Success on Amazon demands treating it as a real business, but with effort, even beginners can thrive.
Why Amazon FBA is the Best Way to Sell Online
The beauty of Amazon FBA is that you don't need to deal with the hassles of shipping your products. Since Amazon is the top online marketplace, you don't have to worry about driving traffic either. The potential for scaling your business here is immense.
The First Steps to Start Selling on Amazon
Your journey begins with product research. Look for items in high demand, not too competitive, and with healthy profit margins. Then, set up your seller account – your base of operations. This is where you create listings and prepare shipments to Amazon's warehouses.
But first things first, pick your product and decide on your business model. There are various models, but one stands out for scalability – private label. You buy directly from the factory, they brand it with your logo, and Amazon handles fulfillment through FBA. This is like owning real estate – a long-term, scalable business asset.
Setting Goals for Your Amazon Business
Ask yourself, what are your goals for selling on Amazon? What's your timeframe for achieving them? The beauty of this business is its flexibility. You can make it as small or as large as you like. It's about what you want to achieve.
Avoiding Common Mistakes
To succeed, avoid common pitfalls. First, ensure your product is in demand. Tools like Jungle Scout provide insights into estimated sales, costs, and profits. High demand means products are moving fast – aim for at least 10 sales a day or 300 per month.
Second, steer clear of over-competitive categories. Analyze the competition, look for new sellers achieving high sales with low reviews. These categories offer opportunities.
Third, maintain healthy profit margins. Aim to sell products above $25, ensuring you're in the green after expenses. Use tools and data to calculate costs accurately.
Fourth, avoid selling generic products. Stand out by offering something better than competitors. Minor improvements to existing products can make a huge difference.
Fifth, stick to easy-to-handle products, especially as a beginner. Avoid items prone to breakage, like electronics, or those with strict regulations, like food.
Finally, don't sell products that could lead to legal troubles. Check for patents and trademarks and avoid liability-prone items.
Choosing the Right Product
Prioritize your product ideas. Look for items with the best potential and confirm their profitability through supplier quotes. Contact multiple suppliers and evaluate their responses.
Ordering and Evaluating Product Samples
Ordering samples is crucial. Physically inspect the product's quality and durability. Would you use it yourself? Consider samples from various suppliers to make informed decisions.
Placing Your First Order
Negotiate the lowest possible price with your chosen supplier based on the quantity you plan to order. Be clear on payment terms, and you're on your way to placing your first order.
Selling on Amazon is no walk in the park, but with dedication and smart choices, you can turn it into a thriving business. Remember, treat it like a real business, because that's precisely what it is.
Whether you are selling on Amazon or Shopify, soxialmedia.io gives you hands on experience in the field delivered to your hands - through premium info products.
If you want us to manage you, that can happen as well.
Whatever it is, get a systems plan for your brand and continue on today. Do not look up from your work station till you've set up your first store and advertising campaign.
Good luck everyone!
To sell better on E-commerce watch this video