Avoid these Amazon FBA mistakes! Ariana and I share her top 10 lessons learned from her first year selling on Amazon FBA!
In this video, Ariana and I will share with you the 10 crucial things that we’ve learned about selling on Amazon. We want to share them with you so you will not make the same mistakes.
It’s Expensive to Start
It could be expensive to start on Amazon especially if you do it wrong. Depending on your product, it could cost up to $10,000 to start a product. One of the ways you can medicate this is to start a Kickstarter.
Different Business Models
There are multiple ways to sell on Amazon. There are four main business models and each one has a different start-up process. There is Retail Arbitrage, Wholesale, Private Label, and Creating your Own Product. The good thing with Creating your Own Product is you can do a Kickstarter. It helps you raise a lot of money especially if you do it right and it does not cost any money.
Don’t Go Out of Stock!
It’s so important to keep track of how much you’re selling per day on Amazon. Be mindful that if you’re going to be running out of inventory.in a month, you can start sending in some inventory and get that number up. You need to do inventory planning and figure out exactly how much you have in your warehouse or storage. Make sure you order ahead of time.
Amazon Fees
Amazon takes a huge chunk of your sales. They take about 33% of your sales. One of them is a 15% Flat Rate whether you’re using FBA or FBM. There is also another fee if you do Amazon FBA, depending on the weight of your product.
Mastermind
There are going to be complications in selling on Amazon that’s why it’s (more…)