Do you have the RIGHT MINDSET FOR SUCCESS ON AMAZON?
Before diving into finding items to sell on Amazon FBA, it’s important for you to adopt the Amazon mindset. Having the right perspective is critical to your success. The journey to success on Amazon is not a linear path. You will have ups and downs, like anything else in life. The key is perseverance! Remember, for every 1 of the over 500 million products being sold on Amazon, somebody just like you is making money selling these items. Why not you? With the right mentality & tools, you too can take advantage of this life-changing opportunity!
AMAZON FBA SELLING OPPORTUNITY
Amazon is not a fad, this is a generational mega trend that is here to stay. Just as the internet disrupted and decentralized information, Amazon is doing the same to commerce by democratizing barriers to entry. As you already know, traffic in this digital age is shifting from physical retail to the internet. But did you know Amazon is the biggest source of the internet’s road traffic? 55% of all searches now start on the Amazon search bar. So just as Google is for asking questions, Amazon has become the search bar for products. Global e-commerce is consistently growing at a rate of about 25% per year. Amazon is taking up more percentage of this growth every year. Don’t expect this to slow up anytime soon!
There has never been an opportunity like Amazon FBA!
This golden opportunity won’t always be around. Over time, the different markets will become more saturated, which will make it harder to get into and profit. There is no better time than NOW to get started selling products on Amazon FBA!
WHY YOU WILL FAIL
NOT YOU! But Statistically speaking, you are supposed to fail. 70% of sellers never even purchase one product. Which means only 3 out 10 TAKE ACTION, and move on from the product research phase. Of those three who move on, 90% stop selling after one-year. Like I said, NOT YOU! I failed at my first 7 products because I didn’t have the information I do now. My 8th product went on to do $6 million in sales in 6 months on Amazon FBA. That’s because I didn’t give up, I LEARNED from each experience and persevered. I’m going to teach you all the lessons I learned from my failures, so you can replicate my successes. [I created the most comprehensive Amazon Course for people just like you. The best part is, I’m giving it away for only $1]
Common Reasons Most People Fail
● They were just copycats who did not add value to the product and subsequently customers.
● They did not research hard enough or have the right information.
● They did not correctly do keyword research. ● They are stuck in ‘product paralysis’. Before selling products on Amazon, you should first understand, what makes a product successful on Amazon.
WHAT MAKES A SUCCESSFUL PRODUCT TO SELL ?
Finding great products and successfully selling on Amazon, is going to depend on you being able to find the right market for your resources. Different markets on Amazon require a different level of skill and capital. This also goes for the different Amazon business models, such as: ● Wholesale – Where you sell products on FBA that you purchase directly from manufacturers and distributors. Unlike Private labeling, you are not launching a new brand/product. You are essentially just a reseller. ● Retail & Online Arbitrage – Arbitrage is a business model where sellers purchase products from retail or online stores at a discount, then resell on Amazon at full price through FBA. Although it is very hard to scale, this model is often the easiest way to start on Amazon FBA. ● Private Label – Private labeling is the process of putting your own brand or label onto a product and selling them. This business model requires you to first come up with a product, then find a manufacturer to produce your product. Successfully executing this model is easier said than done. ● Dropshipping – Dropshipping is a business model with very low start-up cost and no inventory. A seller builds an e-commerce store and takes orders from customers. But instead of fulfilling the orders themselves they forward it to a vendor and the vendor ships directly to the customer. Some of these business models like drop-shipping and retail arbitrage are easier and require less initial capital to start. While other models such as Private Label, require more work but are also extremely more profitable. We are going to focus on Private Labeling; selling physical products on Amazon is the best opportunity in the world right now. Where else can you get a 340x ROI in just 6 months? I was able to do just that!
Everything is a private label opportunity on Amazon FBA!
Amazon’s private label business is expected to reach $25 billion in annual revenue by 2022. [ by SunTrust Robinson Humphre] You are only ONE successful product away from collecting your share of the pie. Factors that make successful products are: Differentiation – How can you add value & differentiate? This is one of the most important criteria for determining if you fail or succeed when sourcing a private label product on Amazon. Why should a customer buy your product over the competition? Being able to differentiate and adding value to the customer, relative to your competitors, is critical to beating the competition in any market. Ways you can add value and differentiate: ● Make a better assortment of goods ● Provide the customer with different colors & features. ● Provide a more effective solution for the customer’s problem. ● Better marketing to the customer. Premium Quality – When private labeling any product, I suggest you have a premium product and brand. A big part of success on Amazon FBA is predicated on having the BEST PRODUCT. Here is why: ● Perceived Value – People associate higher quality with higher prices, so if you bring to market a premium product, you are able to charge a lot higher. There is always a market for the rich. ● Good Reviews – Getting 4 and 5-star reviews on Amazon is very difficult. Having the best product is going to lead to more quality reviews than your competition. This, in turn, will lead to more sales and profit for you. ● Higher Margins – Having a quality premium product also leads to higher margins and ROI. This means more money for you because you are able to charge a higher price point. ● Customers – As you know, Amazon is the most customer-centric company in the world. Everything they do is to make and keep customers happy. Bringing quality products to market will make your customer happy and Amazon will reward you for it. Now that you have an idea of what to look for, here is how you find these products.
HOW DO YOU FIND WHAT PRODUCTS TO SELL ON AMAZON FBA?
Properly analyzing the market demand and correctly doing product research can make or break your Amazon career. How you discover the best items to sell on Amazon FBA is largely determined by a few factors. The most important being product research. All successful Amazon sellers know; it all comes down to product research. This is essentially the process of gathering ideas, then validating them through market analysis. Your success on Amazon is going to depend on your ability to gauge and capture the demand in these markets. PRODUCT RESEARCH – is the most important step of your Amazon career. Correctly doing research is where your success comes from. Doing product research wrong will make it very hard for you to succeed on Amazon. Luckily, there are tools like Viral Launch & Helium 10 that can help you with this. Two Steps of Product Research: Idea Gathering & Market Validation. Idea Gathering – The first step in product research is finding ideas for potential products. There are a few ways you can go about doing this. ● What’s already selling on Amazon? You can use the BSR or the Best Seller Rank to find out what products are selling more than others. The BSR ranks all the products in each category by sales rank, the best selling product being number 1. ● Everything is a private label opportunity! You can often get ideas from just your day to day life. What products are you wearing? Using? seeing? Get in the habit of looking up any and everything on Amazon. ● Use tools with Amazon’s data. There are tools like Viral Launch and Helium 10 which gives you data on Amazon sales for each product. You can search their database for potential products based on the set of criteria that fit your circumstance. Market Validation – Once you find a potential product idea, step two is to validate this idea by dissecting the market through analysis. One of the biggest mistakes you can make is to launch a product without first validating the market demand first. Market Research – Everyone can compete in a market, but you can’t compete in every market. For example, to be successful in a large market will require a lot of capital. If you are just beginning on Amazon, a good strategy would be to start in a small market then scale up. Ultimately it’s up to you to find a market where you can succeed with your skills and resources. Barriers to Entry – is an important factor to consider before deciding which markets are right for you to enter. Common Barriers to Entry: ● Capital – do you have enough money or resources to compete in a given market? ● Size & Logistics – Some products are too big to ship affordably through FBA. ● Liability – is the risk of selling a certain product worth the potential reward? ● Seasonality – do you have the experience and ability to correctly forecast inventory and demand for a given season? Keyword Research – is fundamental to figuring out what to sale on Amazon FBA. On Amazon, your goal and mindset should be to capture the demand on the platform, not try and generate it. Therefore, finding the right keywords, with the highest search volume, is critical to your success. ● Keyword search volume – is one of the biggest mistakes I see sellers make on Amazon. You can have the best product in the market but if nobody is searching for it, you will not make sales. The importance of finding the keywords with the highest search volume cannot be understated. Tools like Helium 10 and Viral Launch are enormously helpful in choosing the right keywords. They provide you with exact data directly from Amazon, taking the guesswork out of keyword research.
So, how was I able to do $6 million in sales in just 6 months on Amazon FBA?
My journey to success was not overnight, I ‘failed’ on my first seven Amazon product launches. So why did I fail? Simply put, I did not have the information and tools I have now. Through trial and error, I learned from each failure and ultimately succeeded. I failed on those seven products because, at the time, I didn’t know how to validate demand. What tools to use. Therefore, I was simply guessing and taking action. Unfortunately, the customers were not searching for the products I was bringing to market, hence why they failed. I eventually learned an important factor for success on Amazon; You must learn to invent within what customers are searching for. I approached my 8th product with this mindset and forever changed my life! I put everything I learned, along with lessons from other 7-figure sellers into this [$1 Amazon course]. No UPSELLS. NO PAID MASTERMIND GROUPS. NO BS. Just value in the form of 200+ videos, which took 8 months of work to create. My goal is not to give you a ‘fish’, but rather teach you ‘how to fish’ – in hopes that Amazon FBA may also change your life! Picking what to sell on Amazon is a critical first step in the process. Taking into account the different factors that make a product successful on Amazon is essential to finding a quality product. In order to find the right product to sell, you must listen to what the research is telling you and think logically. You can’t generate demand on Amazon, to be successful, you have to learn to capture the demand already on the platform. You do this by first gathering ideas for potential products. Then you validate these ideas through market analysis, by using tools like Viral Launch. Your goal is to find products and markets that you can compete in, with your specific level of resources and skill. There is no one-size fits all formula for finding successful products to sell on Amazon. Each market is going to require a different skill and strategy when launching a product. If you have a QUALITY product, that adds value and is on a high converting sales listing, you will succeed on Amazon! I teach every step of this process in depth in this [$1 Amazon Course]