Starting an Amazon FBA business is easy, and it doesn’t require you to have any particular skills or experience with other types of businesses.
However, it does require some time, money, and effort to get off the ground. If you’re up for the challenge, then read on for a step-by-step guide on how to start an Amazon FBA business from nothing but an idea!
Choose a profitable product
There’s no point in trying to sell stuff that you wouldn’t buy yourself. It doesn’t matter if you spend thousands of dollars setting up an Amazon FBA Prep business selling yo-yos if there’s nothing on Amazon that will turn a profit.
The Amazon marketplace is enormous, but it is also highly competitive and frequently changing, so you need a product with a lot of demand and low supply.
That way, even if there are ten other sellers offering yo-yos for sale on Amazon, your yo-yo will still be more accessible for customers to find because of its popularity. Step 2: List your products on Amazon: So, how do you go about finding these golden nuggets?
Order your first batch
Once you’ve done your research and decide that it is, in fact, possible to turn a profit selling on Amazon, now it’s time to order your first batch.
How many units of your product should you purchase? It depends on how much money you want to invest. We recommend not spending more than $1,000 for initial inventory (this will allow for enough inventory for 30-60 days).
You can always increase your order when you have proven there is demand. Once you have paid for your goods, they will be shipped directly from China and should arrive within three weeks or less.
List your product on Amazon
Step three is where you list your product on Amazon. Before you do that, though, you need to purchase some things: a barcode scanner, a scale, and so on.
When it comes time to make your Amazon product listing(s), that’s done in Seller Central. If you’re starting with selling on Amazon and are going through seller support (which I highly recommend), then they’ll walk you through step by step what needs to be done. The cool thing about Amazon is they have videos for most of their services, making learning easy!
Track your progress
This is a vital part of getting your Amazon business up and running. Once you start to make sales, there will be a lot of excitement, which can lead you down dangerous paths if you don’t keep things in check.
In other words, tracking is essential. Here are three steps I recommend taking. First, set up Google Analytics for your website.
Track visits by source (i.e., Organic search traffic or Direct traffic), keywords, referring domains, and more.
An easy-to-use metric here would be the Percentage of visitors from Amazon to your site = organic traffic/total visits × 100%.
Ideally, you want Amazon to account for a large chunk of traffic because that means people are clicking on products you write about! Second-Sales Dashboard: Sellics (read my review) tracks all data related to revenue coming into and going out of Amazon stores.
You can filter by sales channel such as Bing Ads or Facebook Ads – both ways of generating traffic outside Amazon!
Learn from your mistakes
When you start selling on Amazon, there’s a good chance you’ll mess up. It happens to almost everyone. You might sell an item that didn’t sell, or maybe you never received a shipment of products.
The key is learning from your mistakes and moving forward as quickly as possible. Don’t dwell on failure; instead, analyze it and learn from it so that you can adjust your strategy in the future.
If you haven’t failed at something new recently (especially in business), the chances are good that you aren’t growing.
We don’t avoid failure at all costs; we avoid repeating past failures by not making them again! One mistake can teach us more than 20 successes.
Improve as you go along
After launching your first post, you’ll get a lot of feedback. Use it! This will help you tweak your content and create more valuable stuff in the future.
Your audience will grow and find value in what you’re writing about as you improve. And if they don’t? Find new readers by promoting your posts on social media, forums, and other channels where people are interested in what you have to say.
Continue doing that for about four months, and once you have enough material, you can turn your efforts into creating one big book.
You’ve got everything from those four months to publish that into a .pdf, or .epub file, then turn around sell it.
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Doing something like that is worth at least $0.99 per copy, meaning you can easily earn $3K a month or more with minimal effort involved once you gather all that info together! Depending on how fast you go along with things, you can write as many or as few articles each day (or week).