Adapting To Changes In Amazon And E-Commerce
Change is the only constant said Heraclitis. So the only question is, how will you adapt to change?
One of the most important things when you get into e-commerce or selling on Amazon FBA is the amount of experimentation you’ll need to do.
A lot of people get stuck in the mindset that, just because somebody has made a lot of money, it was just a linear approach.
For every bit of work the person put in, they got that much money out of it. It doesn’t work like that.
Experimentation and Lessons
I encourage people to think more about the amount of experimentation you’re doing and what lessons you learned from them because that’s going to be what ultimately determines your success.
I’ve gone through hundreds of different products doing retail arbitrage.
I’ve learned different lessons about listings and tried different experiments to see what would happen to the product’s sales, ranking, reviews and more.
After all this trial and error and the lessons learned, I ended up deciding to sell private labeled products.
Even to this day, I still experiment with private label products and this is ultimately what leads me to success.
I see more opportunities every single day because I’ve acquired a skill set by lessons learned from experimenting.
When you go into Amazon or e-commerce, it’s essential to avoid having the get-rich quick mindset.
All of these platforms like Amazon are constantly changing over time and what used to work last year isn’t going to work as well today. It’s going to take you time to figure out what works and what doesn’t.
That’s the way business works. You will gain practical experience through experimentation.
From experimenting with different products and learning lessons, you can get an idea of what the market wants and what potential trends are.
The only way to know is by continually testing.
Is Making Money On Amazon Dead?
I know a lot of people will say that Amazon is dead in 2018. They say you can’t make money from it anymore.
That mindset is assuming you don’t continue to experiment and to learn as time goes on.
So, it’s not dead at all. It’s just different, and will continue to be different.
Retail isn’t dead either. There are stores that are thriving in retail, but they’re taking a different approach to everything.
So, continue to experiment.
If you have a product idea and your goal is to see what is going to be the fastest and cheapest way that you could test that product idea, you could go and survey your friends and family or even create a poll on Instagram.
You could take a marketing approach and measure KPIs using Google Ads or Facebook Ads and see what has the highest click-through rate.
You can even test your listings up on Amazon or Ebay and see what’s works and what doesn’t work. There are just so many different ways that you can experiment!
If you keep experimenting you’re eventually going to figure out what works.
Never Ending Learning
The overall point of this is to not measure your success based on how much you have made, but on what you have learned.
You have to learn techniques to optimizing an Amazon listing. You have to learn how to choose products. You have to learn how to do business with manufacturers.
You don’t have to be perfect when you start applying what you’ve learned. You just have to start and continually learn.
Eventually, you’ll figure it out. They say it takes 10,000 hours to master a skill. You’ve got to put in the time.
Create An Income From Amazon
As Amazon continues to grow, more people will start their own business with Amazon FBA which means more competition.
One important thing is to learn everything you can and continuously experiment with what you don’t know.
You can’t be satisfied with your current knowledge because remember, businesses are always changing and adapting.
It’s imperative that you keep learning in an ever-changing environment. Competition fuels capitalism and that is what allows businesses to get better.
So YOU need to get better.
As long as you’re willing to put in the work and experiment and learn from those who are successful, you can take all the different ideas and figure out your own way. That’s how success is created.
There’s so much of the pie to take. Amazon FBA is an amazing opportunity that committed entrepreneurs can prosper from.
Just get out there and continue to learn. The only way that you’re going to fail is if you stop learning and you stop experimenting. You’re going to stagnate and become complacent if you stop learning.
Learning constantly is the most valuable thing you can do for your business.
Learn how not to fail on Amazon with my interview with Casey Gauss of Viral Launch >>