If you’ve started an Amazon business

amother

Sienna

Tue, Jan 05 2021, 6:26 pm

amother [ Coral ] wrote:

I don't think anyone is successful with an Amazon only business. Those who are successful are existing brick and mortar stores who use Amazon as an another platform to sell and ship - they have existing products and relationships with vendors already.

You can get lucky with one product but then that product goes up in price, gets discontinued, stops selling, or stops being made and it is over.

I've watched a lot of videos and bought a few courses and talked to sellers. No one ever gives any specifics about what they are selling or what they are paying for the product or packaging and shipping.

Lots of folks claim to be successful with zero proof.

Anyone spending more time making videos and courses on how to be a successful Amazon seller by definition isn't. If they were all their time would be spent on their business. Instead, their livlihoood comes from AdSense money from Youtube and the money they make selling courses.

That is what I always wondered.
If you are making millions selling on Amazon why bother making a few hundred from a course.

amother

Wheat

Tue, Jan 05 2021, 6:36 pm

I don’t think the main key to a successful Amazon business is a unique product.
That definitely helps. You need to know how to market it properly and keywords and advertising. Bh my husband can and has taken any product and sold hundreds of thousands and does really well Bec he knows how to target the right customer. He helps people on a daily basis realize this point.
He had one company that asked him to help them sell his product. It’s a higher priced item. In the beginning they were doing about 20k in sales. That’s gross not net so it isn’t a lot of profit at all. At this point a few years later they’re grossing in the double digits millions each month. It’s all about targeted marketing.

amother

Orchid

Tue, Jan 05 2021, 7:24 pm

amother [ Aquamarine ] wrote:

These are the "secrets" of a few of the Amazon sellers I know.

Seller #1 manufactures and sells his own brand of a certain line of products.
He has a good source of parnassa from another lucrative business, so he can afford the finances invested. He can also devote the time to this and hire employees to run the business.
He can afford to take on a high level of risk.
(Some of his products failed some kind of inspection, and he was unable to sell them on Amazon).

Seller #2 sells some run-of-the-mill products.
His father is a wholesaler, so he has good access to suppliers, and can probably purchase them at lower cost than other sellers.

Other sellers work for an Amazon business, learn the trade, and branch off on their own.
This is not as simple as it sounds.
My husband is looking for a new job, and people are hesitant to employ heimish workers because they don't want others to learn the business and compete against them.

Bottom line: There are no secrets.
I don't believe watching videos will make you successful.
You need to first start off with a unique product or have access to good suppliers.

You need to know how to market your product on Amazon to make money. My husband doesn't sell anything too unique or special, don't want to give details but these are products you can easily buy in local stores. It's about marketing and knowing how to keep yourself as the seller whose product gets automatically added to shoppers' carts.

doodlesmom

Tue, Jan 05 2021, 7:52 pm

One way to start:
If you have access to wholesale or below pricing to any product, then check out how much it is sold for on Amazon, and how much Amazons cost will be for shipping etc. then check how much the competition is selling it for on Amazon and if you can compete while still making a profit.

amother

Cyan

Tue, Jan 05 2021, 7:54 pm

amother [ Wheat ] wrote:

That’s really nice of your dh, I hope he makes some sort of commission for that....

Wondering what he thinks is a good overall profit margin?

bouncy

Tue, Jan 05 2021, 8:02 pm

I'm a Succesful seller, been selling for over 5 years.
there are so many ppl that are successful.
My tip for selling- You need your item to be discoverable and desirable
Amazon is looking for new brands- meaning to say...
create your own brand (PL) start with 1 product and go from there.
watching videos have helped me a lot- but no one can do the work for you but yourself.

and for those who said why do sellers that make million make courses...
courses are another way to boom passive income. Imagine $1200x500+ subscribers a month- that's nice money too