There’s a big difference between five-figure sellers and six-figure sellers on Amazon. But there’s an even bigger difference between six-figure and seven-figure sellers.
It takes hard work up front, but once you’ve got a seven-figure business running, the rest just takes care of itself. That’s why we’re breaking down how to become a seven-figure seller into three VERY simple steps — let’s go!
Step #1: Find a product
If you don’t have a great product, you won’t have a seven-figure business — it’s that simple. Now, the not so simple part is figuring out what that product is. We highly recommend these two things to start off on the right foot as an Amazon seller:
Go for FBA products with high demand and low competition
Demand is how many people want to buy what you sell. Competition is how many other people also sell what you sell.
So if you choose a product that no one wants to buy and everyone already sells … that’s not the way to build a seven-figure brand. Instead, you want the opposite of that. You want a product that everyone wants, but no one else sells and the way you identify such a product is …
Use an Amazon seller research tool
There is a lot of competition on Amazon if you don’t play your cards right. And we promise that the majority of your competition uses some kind of software to get a leg up.
That’s why we recommend you also invest in software and if you don’t have one in mind, use Zoof. It’s packed with tons of tools built for sophisticated product research, ASIN lookups, keyword optimization, and more.
Either way, no matter which platform you choose, use it! Otherwise you’re just guessing around in the dark and that’s no way to start off a business.
We also recommend you choose a product that you can customize in some way (for example with a white label or private label option). When you have control over the way your product looks or the features it has, the more control you have over your own brand in the future.
Remember, if you choose to sell the EXACT same product as other sellers, the only thing you can control is lowering your price. And that cuts into your profit margins which we highly recommend against!
Step #2: Find a supplier
After this step, it’s smooth sailing — we promise. But for now, take your time and use it wisely because the quality of your supplier directly impacts the quality of your product and therefore the quality of your brand.
A less reputable supplier likely carries less reputable products, and vice versa. We suggest looking for suppliers on sites like Alibaba, AliExpress, and other wholesale websites.
Then, ask suppliers questions like it’s an interview (because it is an interview!). Ask them about delivery times, private labeling options, whether they’ve worked with the Amazon FBA program before, and whether they provide product samples.
Once you’ve identified a few quality suppliers, request samples and compare them to one another before making a decision and moving on to the third step.
Step #3: Launch your product
You’ve got a great product, you’ve got a great supplier, now it’s time to launch on Amazon.
First, write up a description for your product’s listing. Take time on this one and naturally incorporate relevant keywords into the text.
Pro Tip: You can find Amazon keywords in Zoof to help boost your product’s page and they offer a free trial that you can start right now.
Also, don’t skimp on the photos! Either take the photos yourself or hire a professional to do it because if you use default photos from a supplier, you risk having the same images as another seller.
If you can, take a video showing off your product and include a buyer’s guide. For example, let’s say you sell couch cushions. Create an image including a photo of your product with the dimensions sketched out along the side.
Then, include that graphic in your image carousel because the more information you provide, the happier your customers are. Not to mention, product data keeps your return rates low and your reviews high.
BONUS: Start and scale a brand
Once you’ve got your first successful Amazon product up and running, turn it into a brand! This is what separates the six-figure sellers from the seven-figure sellers.
When you start a brand, you bring your product under a special umbrella. Then you launch other related products and put them under the same umbrella. Each product has similar aesthetics, similar text, and a similar niche.
This way over time, customers start to recognize your brand and this starts a snowball effect. Existing customers recommend new ones, more positive reviews lead to even more positive reviews, and all of this boosts your products in the Amazon algorithm.
In other words, starting a brand makes you more profitable without having to do extra work and that’s what we call passive income.
Unlock unlimited earning potential with an Amazon online business
Are you ready to be your own boss? Do you want to unlock unlimited earning potential without having to ask for a raise? Want to have more of your LIFE back? It all starts when you take the first step.
Check out Million Dollar Brand by Matt Clark of Amazing.com. Inside he tells all when it comes to building a successful business worth seven figures.
Not sure how to source high-demand and low-competition products? We break it down for you step by step with tons of insider secrets along the way.
Nervous that it’s too late for you to make money on Amazon? Read this ultimate guide to competition on Amazon and how to get around it.
More FREE Resources For Amazon FBA Sellers
- Best Products to Sell on Amazon FBA
- Sourcing Products From The USA
- Amazon FBA Product Research
- Amazon FBA Tips
- Find Amazon Wholesale FBA Suppliers
Matt Clark is the Chairman and Co-Founder of Amazing.com, a serial entrepreneur, and investor. He’s been featured on Forbes, CNBC, and Entrepreneur.com.