10 Ways I Grew My Amazon Business to $75k/month
10 Tips for Growing Your Amazon Business
Given by Andy Slamans
Andy Slamans has been able to scale his Amazon business so that he is now averaging $75,000+ a month in sales. How has he been able to achieve this success? Below is a summary of the SlamazonBros Live Week 2 video shown above:
Tip #1 - Do your due diligence. Jump in once you believe.
Andy explains how he took the time to read books and talk with experts before jumping into Amazon FBA.
Tip #2 - Start slow and grow at the pace that is comfortable for you.
Many sellers want to jump on Amazon and start selling $75,000 a month or more like Andy. While some people are able to scale very quickly, most people do not have sufficient time, resources, or knowledge to get their business going that quickly.
Tip #3 - When starting out, look for low cost sourcing methods - thrifting, books, clearance sections, etc. Look for high margins.
Most people's biggest fear selling on Amazon is that they are going to lose their initial investment.
Tip #4 - Use the Facebook groups that are available. Join us at the SlamazonBros Facebook group! Invest in a quality course that teaches what you want to learn.
There is an abundant amount of information available on Facebook for selling on Amazon.
Tip #5 - You will need some starting resources. Don't expect to draw on your profits right away. (If going full time)
There are some initial costs to selling on Amazon. For one, you need some way to obtain the products you are going to sell (unless you stick with just selling items from your home).
Tip #6 - Keep an eye on your numbers. Watch how many services you are subscribed to. Help your bottom line.
There are a ton of great courses, services and paid groups available that can really help boost your Amazon business.
Tip #7 - You have to take risks on inventory. Recommend not going into debt when starting out.
All the research and information in the world can not prepare you for every single buying decision. While it is definitely important to understand the factors that determine a good buying decision, sometimes you still have to take some risk.
Tip #8 - Always be buying inventory. It is a constant replenishment of items!
One of the tricks to having consistent sales numbers on Amazon is that you have to constantly be purchasing inventory. Even if you are limited by the amount of money you have to spend on items, you should constantly be thinking/researching what your next purchase is going to be. Always keep your eye out for what your next potential buy is going to be.
Tip #9 - Know the Amazon catalog. Analyze and know Amazon's website.
It is much harder to sell on Amazon if you know nothing about Amazon! Use tools like Keepa to help simplify Amazon listing pages. Always research your potential buys on Amazon to see how many other sellers there are, what the average price and sales rank has been, and any other relevant factors.
Tip#10 - Know how to make your own unique listings. PL, bundles, etc.
Selling on existing Amazon listings is a great way to start out. However, you may want to sell something that has never been listed on Amazon! Learning how to make your own listings on Amazon is essential for getting into private label and making great bundles. The following are some tips by Amazon when first creating a listing: Creating a listing. More information for creating listings will be available on SlamazonBros.
Andy is a successful Amazon seller that has put in the blood, sweat and tears to grow his Amazon business. Use the information that he so generously provides to grow your Amazon business the right way!
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