What Sellers MUST Do Before Selling Products on Amazon – Amazon Seller Secrets Revealed
Before selling products on Amazon, what do you need to do or understand to be ready? It’s something that every new seller should ask themselves because adequately preparing yourself to jump into the world of selling on Amazon is as important as choosing your first product to sell.
In this episode of Amazon Seller Secrets Revealed by the AMPM Podcast, our guests share what they feel are the necessary things to do before you begin selling products on Amazon.
Today’s question regarding being a successful Amazon seller is:
“What Are 3 Things You Suggest Every New Seller MUST Do Before They Start Selling on Amazon?”
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Here is a more in-depth look at the expert answers:
The best things to do before you start selling products on Amazon are…
Lesley Hensell, Partner at Riverbend Consulting
“You need to think from the very beginning how you are going to make money inside and outside of Amazon without being dedicated to one product, one brand, one wholesaler.
You have to set some goals for yourself [and] really know what you want to get out of this. Is it a full-time job, or is it a side gig? Is it launching a brand, or is it just doing resale?
Put in a certain amount of money and say ‘This is my budget and I’m not going to use my credit cards, [and] I’m not going to tap my friends and family–this is how much money I have.'”
Shawn Hart, Co-Founder of QuickFastHurry.com
“The things I would suggest that every seller do before they start to sell on Amazon to make sure that all your ducks are in a row when it comes to your business organization. Start the business in the beginning like you’re building it to sell. And what I mean by that is to keep everything organized because most of the people I see in this industry are trying to build an asset that they can turn into cash later.
We’re not here to create sales–we sell on Amazon to make a profit. I’m tired of hearing people say “I’m doing $50,000 a week, but we ask them how much money they make [and] it’s zero. Remember that first and foremost we are a for-profit business.”
Nathan Resnick, CEO of Sourcify
“First and foremost, you have to know your supply chain, and you have to know how you’re going to scale that up. If you’re just buying products wholesale and you’re really expecting to grow an Amazon business, it’s not going to happen.
Number two, I would say you need to know your margins. As you scale up and grow, or as you’re just starting out, the margins are going to change [as well as] your order volume.
Number three is that you really need to know what space you’re in. What competitors are out there? How do you set yourself apart?”