How To Make Money With Amazon FBA?
There’s too much junk online today about “How to make money on Amazon FBA.” There’s so much information that if your start consuming it all then most people get lost and never start their successful online business. What I’ve learnt that the less you listen to people then more you succeed in life. Exactly the same goes when building your first Amazon FBA business. You need to listen to the right people at the right time.
I’ll give you a short overview what you have to consider if you are thinking about starting your own successful Amazon FBA business. I’m not going to give you a list of 20 things you have to do. I’ll give you few and the rest your going to figure out yourself. The secret is in the “Figure out yourself” because a person with a need and desire is more likely to succeed than a person who has everything on the plate.
Don’t worry I’ll give you just enough so you can get over the biggest roadblocks when starting your business. Don’t overthink or analyse. Just follow the map like on good old days all the world great conquers did. You can use that information also in 5 years. Even if the rules of the game changes.
How to succeed on Amazon?
Like I said I’ll give you a short brief roadmap about how to succeed on Amazon. Make sure you’ll follow it. I’ll cover only the most important parts of it. You have to do the rest. If you have any questions or comments then feel free to comment here on hit me up on Twitter, Facebook or Instagram.
What products to sell on Amazon?
The most important factor what’s going to decide if your Amazon FBA business is going to succeed or fail is the product you’re going to sell. Look for products what don’t have too much competition. You have to find products what don’t have too many reviews and are selling OK. For that I recommend using a tool called Jungle Scout.
Get the lite or pro version of google chrome extension. Go to products and click – The Chrome Extension.
Get the product research tool here: www.junglescout.com
How to use Jungle Scout tool?
Install the google chrome extension and start scrolling through products on Amazon. Don’t look only the first search page. Look other pages too. If you start out then you’re probably not going to rank on the first page with your products but you can definitely rank on the third or second page. You need to make sure that these pages are getting sales too.
Another thing to keep in mind is to look for products what can rank for different keywords. For example iPhone 7 case is a bad product to sell because there is too much competition and it only ranks for iPhone 7 case.
A good example would be a fruit peeler because people can also find that product by using different keywords like apple peeler, potato peeler, carrot peeler, cucumber peeler etc. I didn’t check sales or any other data for that product. I just used it for example.
Third thing to keep in mind is too find creative ways to add a second product to the set. For example for the peeler look for another products to make the set more attractive. You could use whatever in the kitchen category. Just make sure the product is:
- not very expensive
- don’t have much competition.
For example vegetable chopper. One thing is that now people see that they get 2in1 and are ready to pay more money for the whole set. Secondly you also get a lot of new keywords for what you can rank now. For example vegetable chopper, onion chopper, egg chopper, vegetable slicer etc.
Last things to find out before heading to the next section is to find out about the competition. Scroll down to 5th, 10th or even further page on Amazon search to find out if there are still products with many reviews. For example – iPhone 7 case. You can find products with 100 reviews even on the 20th page. That tells you that there is too much competition and move on.
With some products you can see that even on the second page you can find products what are totally different from what you were looking for. That means that there’s not too much competition and you can easily rank on second page.
You should have at least five good product ideas before heading to Alibaba to find a supplier. Why five? Because then you have more chance to succeed. If you have only one idea and if it doesn’t work then you can easily get unmotivated. If you have five ideas and one doesn’t work then you still have four product ideas left and have more chance to succeed selling on Amazon.
Research on Alibaba
You can look for suppliers also in USA, Europe or where ever you want, but when starting out I recommend using Alibaba. Just enter your main keyword in the search terms and click search.
Always use only Gold Suppliers and suppliers who offer Trade Assurance. Also write min order requirement as 100 units.
If you have found suppliers and got quotes for your products then head to Amazon FBA Fee Calculator and make sure you are making money after all the costs if you order that product. Don’t forget to ask for shipping cost to USA and add that do your final product price. Many people who start out forget to do that.
How to order samples from Alibaba
Now you should have at least 5 products what you could start selling and also have 5 suppliers with who you’re going to work with. Most of the suppliers offer free samples. You just have to cover the shipping. Place your order via Alibaba and you’ll get your samples in few days with FedEx or DHL.
Once you have received your samples and confirmed the quality then it’s time to place the final MOQ order on Alibaba for five products what you’ve picked.
My recommendation is always to do a research and pick at least five products what you’re thinking about selling on Amazon. Because you might end up selling only two because for some products there might not be enough profit or you might not meet the MOQ etc. If you have your mindset setup like that then you are more likely to succeed.
Also if you have only few thousand dollars or even less capital to start out then search for products what you can get for cheap price. You can scale your business later when you have more capital.
If you are serious about taking your life to next level then get my Free case study here.