Hey, Nick here from ebusiness boss today I want to talk to you about how I’ve managed to sell over 7 figures worth of products on Amazon.
I started selling on Amazon about 3 years ago, and I haven’t looked back since. Amazon FBA offers a huge opportunity for any hard-working entrepreneur.
Over the years I have sold more than £1,000,000 worth of products, pretty pleased with this achievement! But how have I done it?
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Amazon FBA
Before I get into the detail let me explain exactly what Amazon FBA means.
FBA stands for “fulfilled by Amazon”, and if you follow this as a business model it means all you have to do is create or source products to sell and then send them into one of Amazon FBA’s warehouses.
From there they will pick, pack and send out the products to your customers.
They have a hugely sophisticated network of warehouses across the globe, you can see why other online retailers are being left behind.
Amazon has recently started offering “Amazon Prime Now”. This means they can deliver products within a two-hour window, I don’t know about you but I think that is insane!
As a third-party seller, the opportunities are endless!
Anyway, let’s talk about how I’ve done it!
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How I’ve done it
Like I say we started out about three years ago, I got together with a couple of friends and we decided to each invest about £500 to start our first line or private label products!
Our first product was a fruit infuser water bottle, we bought 500 units and had the products shipped from the far east to us here in the UK.
We checked over the goods, labelled everything up and sent them into the Amazon FBA warehouse. Within two weeks we were selling up to ten a day! We were on cloud nine! This was the starting foundation of our online business.
Eighteen months later we each quit our jobs and went full time. We have now been working for ourselves for over two years, I love the freedom the Amazon FBA business model can provide.
I’d always known that I wanted my own online business but I never really knew what I should do. My first couple of business ideas didn’t work out but I feel like I’d set the pace for the future.
I always tell myself the same thing, “I’m willing to do whatever it takes to succeed”.
I’ve got some advice for any of you thinking about setting up your own Amazon FBA business.
Setting Up Your Own Amazon FBA Business
Ok so you are thinking about starting your own amazon FBA business, what do you need to know?
First things first there is a lot of useful information out there, to start with you don’t need to pay for a course you can learn pretty much everything you need to know looking at Amazon FBA blogs and YouTube channels.
We’ve actually set up a youtube channel and a blog to help people learn about amazon FBA, search “ebusiness boss” on either youtube or google and you’ll find us.
Anyway, start carrying out your research. It will take time but the product research phase is the most important part of starting your amazon FBA business.
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For all of my product research I actually use a specific tool called helium 10, they have a free plan so you don’t need to pay for it, it has changed the way I run my amazon FBA business.
I’ve actually written an article to explain exactly how I use the software each and everyday within my amazon business, if you’d like to read click the link below:
Anyway, back to it…
So, when you are carrying out your product research have a think about the actual size and weight of the product. The smaller it is the less you will have to pay in terms of freight and amazon fulfilment fees.
To start with I’d look at products under $15 or £10 and something that you’d be able to fit in a shoebox. I’d also consider shipping the product via air, it’s much quicker and I’ve found that sea freight is prone to more delays and hold ups.
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Once you’ve found your product, make sure you know exactly what you’ll be left with after Amazon fees (and your associated taxes). Do not jump head first into a product before you know exactly how much profit you are going to be able to make.
Amazon FBA is a fantastic business model if you are patient and happy to learn from your mistakes. Do not get sucked into one of these online courses, well unless you can afford it! I’ve actually taken a paid amazon course but we have been doing it for over three years, I just want to make sure I stay ahead.
Anyway, I hope you’ve enjoyed this, thanks for reading.
