Want to reduce overwhelm, have clarity and remove 99% of the noise surrounding your Amazon business? The number one thing you can do to make selling on Amazon FBA easier is to:
Pick your customer first, not your product.
Selecting a customer first allows you to sell a range of products that serve that customer. This will reduce all the opportunities that you could go after because they aren’t applicable to your customer and will ultimately not make you any money. Understanding your customer will allow you to better market to them, as well,
Once you’ve picked a customer and you’ve created a brand around that customer, then you need to ensure there is a demand for your product. You want to airm for a profit margin of around 35 – 30%, while also making sure you have at least 100% return on investment. ROI is most important because this how you will cover the cost of business, increase cash flow and put money in your pocket.
Three ways to be successful selling on Amazon FBA:
Understand your customer
Understand what you’re getting into
Have sufficient ROI
Discover how to build a successful business with Amazon with our FREE Training series, Amazing Selling Machine.
If you’ve started your Amazon business but are struggling to see sustainable sales, here are four reasons why and what to do to achieve the goals you desire.
You have to know your ideal client and focus on marketing to them. Writing your listing like a manufacturer doesn’t promote a real life experience or an emotional benefit, the two main reasons a customer buys. Be your ideal client and write your listing like you are talking to a friend.
People don’t really know what their main keyword is. You need a ranked main keyword, otherwise people won’t find you. What is a main keyword? It’s the word your customers will use to find your product and it’s usually the most simple. If you are selling a red pen, that’s your main keyword, “red pen.”
People don’t invest in a launch and just rely on one trick. A proper launch involves knowing your objectives, sale price and target sales. Everything you do is to reach that sales target.
People don’t use metrics to understand the levers of growth in your business. Amazon is one of the few places that provides instant metrics for your business. You can see how many people are looking at your listing and your conversion rate, how many visitors are actually buying. A strong conversion rate is anything over 20%. The more people visit your listing, the more you’ll convert and, therefore, the more you’ll sell.
If you want to learn how you can take back control of your Amazon business, check out Amazing Accelerators, a program created specifically designed for Amazon sellers, helping to take your business from floundering to prospering.
Amazon is an ever changing platform. What you were doing six months or a year ago doesn’t necessarily apply today to bring you success. If you’re struggling to put money back into your pocket, these 5 reasons could be why. And we’re going to tell what you can do about it to grow your Amazon business and be a success.
The products selected don’t have a great return on investment. Products with a seemingly high profit margin can be deceiving. There could be high minimum orders, which ties up thousands of dollars and delays your profit. You need to focus on your cost of goods, how much stock you need and understand your cost structure.
Financial management usually in disarray. Most people are focused on top line sales but you need to focus on how much profit you make each month. That’s how you get money back into your pocket.
Spending money on things that are not needed. Some subscriptions or services claim they can cure your business, like a keyword or email tool. But after you’ve purchased, are you really using the services? If it’s not building an asset or creating a return, cancel it.
Starting to sell random products. Trying to find that one product that will make you a millionaire will lead to an inconsistent portfolio in multiple markets. By not selling to the same customer and needing to start over with each product, you’re doubling your time and spending. To be successful on Amazon, you need to focus onwhoyou are selling to and not what you’re selling.
Not knowing how to properly plan for success. Focus on your goals and engineer your daily tasks in order to achieve those goals. Business is organic and knowing how to combat change is the best way to success.
If you want to learn how to take back control of your Amazon business, check out Amazing Accelerators, a program designed specifically for Amazon sellers to transform your business from floundering to prospering.
Isaac Kuhlman and Kirsty Verity, two successful Amazon sellers with over $10 million in sales, share the top reasons why you’re struggling to grow your Amazon business and achieving the lifestyle you want. By avoiding these reasons, you’ll be able to make money on Amazon, stop working for someone else and have the lifestyle you desire.
You think you don’t deserve it. The fear of failing is a big obstacle when it comes to selling on Amazon. Stop believing that you don’t deserve the lifestyle you want – start believing that you can. You do deserve the best things for yourself in life.
Thinking it’s impossible to achieve because you have no plan to get there. The adage, “What’s the best way to eat an elephant? One bite at a time,” appies when wanting to sell on Amazon. You need to commit to a plan, so that you have steps to take each day to reach your goal.
You’re too comfortable to push yourself. You might have a great job with a great salary and you don’t necessarily need to start an Amazon business. But if you commit to yourself that this is the thing that you want to do, you can fulfill your dreams.
You can’t commit the time to fulfilling your dream. You tell yourself that when something happens, like your child graduates or you receive your pension, that’s when you’ll start. There’s no time like the present to living the life you deserve.
You know you will make it happen someday. Someday never comes. Take action today and follow the people who have had previous success, like Isaac and Kirsty.
You don’t think you have the talent or experience. You need to be willing to fail, willing to make adjustments and willing to continue to move forward. Perseverance overcomes experience or talent. A strong enough why will lead to success.
The only thing you’re confident about is that you don’t have confidence. Do small things everyday that will bring you closer to your goal. Commit to doing just 1% more every day for 30 days. In that time, you’ll drastically increase your output. This daily action will breed a result, which leads to confidence. Celebrate your little wins each day.
If you want to learn how you can take back control of your Amazon business and achieve the goals you desire, check out Amazing Accelerators, a course designed specifically for Amazing sellers to transform your business from floundering to prospering.
Do you remember that amazing feeling, that excitement of when you were first starting your business? That hope that it ignites in you. Of the freedom that you’re going to have when you have your own physical products business up and running.You’re going to be able to do the things that most excite you because finally, you’re going to be happy.
Along the way, challenges arrive. And when they do, it’s so easy to place blame. Blame on someone or something else, but what’s wrong with your business, it’s not some external factor. The source of your success or failure does not rely on being someone else, somewhere else. What I believe in my heart is that you need to take account for what you want.
The difference between running a business and leading a business is the vision. I believe that when you start leading your business and you have a passion behind said vision, that vision isn’t to be rich. That vision is because of what you want to achieve. You’ll have so much passion that you’ll look at those hurdles as nothing but just everyday, easy obstacles. Yeah, you got to deal with them, but you’re happy to jump right over them because your vision is way, way bigger.
To prove this, here are the top 3 reasons why businesses fail.
Starting a business for the wrong reason. If you’re not clear on your “why,” then it’s going to be almost impossible to follow through.
Lack of planning. This could be not understanding the product you’re selling, who the customers are or why they want to buy your product. Businesses succeed because it’s not about caring what the product is but who the customers are and why customers want the product. Knowing what to focus on is key.
Poor management. This includes lacked financial management, managing the plans, and bad hiring.
There are no excuses. Businesses that fail, the top three reasons are because of the business owner.
Your business and your life and going to overlap. Don’t lie to yourself and say, “No, they’re two different things.” You can’t be an evil business person, greedy for money and that not overlapping to your family life. If you’re not honest with yourself about what you want most in life, then how can you lead it? Because you’re going to be confused. You’re going to have no idea why you’re leading.
I believe that with every ounce of my soul that you can gain control of your business. You can feel energized because you’re in sync with the life that you enjoy living. But it all starts with deciding whether you want to continue running your life and running your business or leading it.
The world doesn’t need more runners. It needs more leaders. Leaders that will make an impact on this world. That are going to feed the poor, protect the weak, and love the unlovable. I beg each of you to take this to heart. I know I am not the only person that’s lost a child. But I’m the only person on this stage talking to you right now, so please listen to me. Don’t let it be something like that, that’s going to make you change. You have the power to decide to do that now and lead. You are capable of so much more than you think. You deserve a life that makes an impact on this world. And you can.
Don’t run a life full of regrets and doubts. Instead, lead your life. Lead your business. And let’s make a difference in this world.
