Being an Amazon FBA Seller for close to 8 years now, I wish I knew all these 5 things before starting an Amazon Business, and I could have saved much more time and lost less money in the early stages of my Business.
1. FALLING IN LOVE
Falling in love with a person is excellent, BUT not with your Product! In the early days of my business, when I don’t know much about research, I fall in love with basically anything I see.
It is not how you think that is important but rather is about what data do you have. Don’t listen to others’ opinions and stick to the data, and it will not go wrong. Getting good research software is essential, and that’s why I recommend using Zonguru for Product Research.
Falling in love with your Product is also dangerous when your Product doesn’t sell as well as you thought of; try to know when it’s time to end the “relationship.” Cutting loss at the right time rather than continuing this “love-hate” relationship.
2. A “LOSING” PHOTO
When you have your first Product, you are full of enthusiasm and love for the Product. You will want it to be the best, and obviously, you will spend many hours shooting the photos yourself (I still remember the first camera light stands and white canvas sheets that I used). Even if you don’t shoot the photos yourself, you will spend many hours coordinating the shots and the direction you want with the Photographer.
At least that’s good. Cause you didn’t take a generic photo from your Competitor or your Supplier. Well, that’s a NO for us.
But what I want to say is that instead of trying to make your Product photos look good, you must look at the Competitor’s Winning Photo (1st Photo) and see how you can take the photo to stand out. Perhaps using different angles, different lightings, or even display layout. This is the missing step that many always has forgotten!
If you think like the rest, do like the rest, then your result is the same as the restAndy Amazon Advocate
3. EVERYTHING WILL BE FINE
It is excellent and essential to stay positive in everything we do. Starting an Amazon business is the same. BUT I am always surprised that many Sellers without proper research or financial planning begin to go into this Business without adequate study or financial planning.
That’s what happened to me, thinking that anything you put on Amazon will sell WITHOUT any advertising or marketing! And best of all, we didn’t budget any money on that! It is essential to have that extra calculation to your budget as that will “eat” into your Profit.
Some of you may say it is ok as I am just TRYING out the first Product to see the whole process and get ready for the 2nd Product (as the 1st Product failed). You need to understand that you DO NOT TRY Amazon; only Amazon TRY YOU! The success of the 1st Product cannot be guaranteed, but it will fail without proper preparation. And if it fails, your Metric (Account Health Rating – AHR) in Amazon will be affected.
So over the years of launching so many Products, I can roughly say that the ratio of launching a Product is 3 (Product Cost) : 3 (Shipping) : 4 (Marketing). Use it as a guide for you to have a better preparation of your Product launching budget.
4. MISINFORMED INFORMATION
With today’s technology, everything is so advanced. We have our Internet, Facebook, Instagram, Tik Tok, YouTube, etc. If you compare the technology now and 30 years ago, we don’t have all such stuff!
And that’s why when we are living in such a fast information age that we no longer know which information on the internet is true or false, or simply suitable for you. I didn’t get a proper Coach to guide me only after the 1st year in the Business. I lost so much money trying out things I learned free from the internet and wasted so much time!
Nobody verifies information on the internet, and you cannot hold anyone’s account for the things you read or see and do it. If I can go back in time, I will get a Coach before starting this Business.
5. GIVE UP TOO FAST
After learning from my Mentor in the 2nd year, I grew from 4 Figures Seller to 7 Figures within 10 Months. He has 38 Students (including me). 7 Years moving forward, the people left in the Whatsapp Group that I know that is still doing this Business was less than 5.
Learning from a Coach or the internet only voice down to 3 things after you know the information.
– You do it, get it done, and no excuses
– You think it is too difficult to do it, then pay someone else to do it
– You do nothing and end up wasting so much time learning the steps
What happened is that we always give up too fast. Many of those successful in this Business failed once, pick themselves up, learn from the mistake and bounce back more vital than ever! If the only thing I want you to know from this blog post is always to remember if the 1st Product you can’t make, there is always the 2nd, the 3rd Product waiting for you. There will eventually be one that you be successful. That’s the beauty of this Business as you don’t need a few hundred thousand dollars to start, and you can start small and keep doing it until you succeed.
If you like to learn more about Amazon FBA from me, feel free to understand more at www.AndyFBA.com/GROW
Andy Amazon Advocate is a Seller, Consultant, and Coach in the area of Amazon and Shopify. His Training Companies are based in South-East Asia, Hong Kong, and Taiwan with over 100 Trainers, Coaches, and Staff. They specialize in Amazon, Shopify Platforms, and local Platforms in Shopee, Lazada, and Tokopedia Coaching. You can learn more at www.eCommUniverse.com .