How To Make Money With Amazon (Part 6) – Amazon FBA Seller Evolution
This is a part of “How To Make Money With Amazon” series.
It is for everyone who is serious about making money online.
We focus on the quickest and the least risky strategies with a minimum starting budget as possible. You will gain the knowledge that you can put into practice right now, for the money to start working for you instead you working for the money.
The series consists of 6 parts:
Part 1 – Introduction To Amazon FBA
Part 2 – Amazon FBA Retail Arbitrage
Part 3 – Amazon FBA Online Arbitrage
Part 4 – Amazon FBA Wholesale
Part 5 – Amazon FBA Private Label Products
Part 6 – Amazon FBA Seller Evolution
If you haven’t read previous parts, please go over them, so you will get the most out of this one.
Amazon FBA Seller Evolution
How To Build Your Amazon Business Without Risking To Lose Everything
I hope that by now you understand different ways of making money with Amazon FBA.
If you have not read previous modules of this series I would highly recommend you to do so.
You can see that there are different ways to source products to be sold on the Amazon platform and all of them have different pros & cons. Most importantly they all have a different learning curve.
The most difficult method by far is Private Label, although it can be the most profitable too. Unfortunately, as with everything in this life where you have a bigger reward, there is a bigger risk involved. I have seen many people starting with the private label products strategy and failing.
Some fail due to the length of the process (you need to allow 1-3 months) before you even see sales. Some give up after their first product fails. Some realize that they needed more money to start this business (you will need at least $3000-$5000 to source one private label product). There are many factors involved. You can learn more by reading this post:
I am not trying to scare you. You can still start with the private label products strategy, but wouldn’t it be better if your Amazon business would be covering all or at least some of the costs involved in exploring private label products?
The selling process on Amazon is an evolution of your business and the experience that you get.
You should learn to crawl first before you start walking and running.
This is why I encourage you to start with Amazon retail and online arbitrage. You can search for private label products while doing retail and online arbitrage and instead of waiting for a couple of months before you see any results with this strategy you will be able to see results in a matter of weeks and not months.
If you want to learn more about how you can quickly see sales on Amazon, then get my free step-by-step guide at the bottom.
I have not mentioned Wholesale strategy as it is difficult to get trade accounts registered for a brand new business without any track record. Starting with retail and online Amazon arbitrage will help you in building this track record and credibility, so you can start getting approvals from wholesalers and distributors.
I personally believe in natural growth and a step-by-step approach to growing a business to minimize the risks involved in it. Some people are more risk-tolerant and cannot wait, so they jump straight to the top of the ladder.
Here is my view on the Seller Evolution:
At first, you do nothing.
Then you start taking action and cautiously start your business. The safest and the least risky way to do it is with Retail Arbitrage. Once you have seen some sales, you add Online Arbitrage.
I know people who used Retail and Online Arbitrage to grow their business to 6 and even 7 figures per year. It is totally possible.
Once you are familiar with the whole process it is a natural path to start approaching wholesale distributors to get a consistent supply for your inventory.
At this stage you should be very familiar with how Amazon FBA works, so you can start looking at sourcing Private Label products.
Amazon FBA is not a get-rich-quick business and there is a lot of work involved in it, but it gives you a great opportunity to finally break through and bring freedom and success in your life.