Starting your Amazon FBA business isn’t difficult. However, being successful (and profitable) is the challenge.
After helping dozens of people start their Amazon business, I found most people quit within the first 60 days. I have also discovered the secrets to those who become successful.
If you are thinking about starting your own Amazon FBA business, below are the seven success secrets you should know before buying your first products!
Those who succeed are the people who look at this as a business. They take it seriously and have figured out “WHY” they started.
For some people their why is to eventually stop working their part-time job. Others want to pay off debt. My why is to achieve financial independence and diversify my income.
When you find you why then you typically do whatever it takes to succeed.
Many newbies get discouraged because they don’t want to take the time to learn all the nuances with selling on Amazon.
Those who succeed take the time to learn what items to sell, what category rankings mean, which categories have less competition, how to get ungated in certain categories, the Amazon rules, how to deal with customers, and much more.
I have seen more people quit because they have the patience of a teenager on a 3G network.
When starting your Amazon business it may take weeks (or longer) before you even find your first profitable item to sell on Amazon.
The best advice I can give new sellers is to take your time: Look for high ranking (top 3% in product categoryies) and very profitable (>$10) items.
4) Invest (then reinvest)
Many people want to take profits out of their business within the first month. This is a recipe for disaster.
If you are serious about turning this into a viable business ($2k+/month), then wait 3-6 months before you take an income. Once you make a profit, use those profits to purchase more items.
When you follow this strategy, you are taking a conscious effort to grow a long-term, viable business.
Instead of buying and selling in just one category, like toys, diversify your inventory. Look at other products you can sell on Amazon.
You can find out all the categories available to you to sell on Amazon by clicking here.
6) Great Customer Service
As a seller, you will get notifications/emails from customers who purchased items from you. Make sure you respond to those sellers ASAP.
Amazon is very customer service sensitive and you need to have that mantra too. Amazon will suspend your selling privileges if you don’t take customer service seriously.
Ultimately to succeed you need to work hard – have grit. Too many people think starting an Amazon FBA is passive income – IT’S NOT!!!!
Understand you need to schedule time if you want to earn serious money from this business. Every week I schedule time to find products, process the items, and ship them to Amazon.
Typically I can do all of this in about 12 hours per week and earn about $2k+ per month (I’ve also taken 4 weeks off this year from the business).
If you think this article has been helpful please share.
You can also learn How to start your own Amazon Business by getting my Free Amazon Mini-Course by clicking below.