Invaluable Business Tips That Can Change Your Amazon Game — Seller Secrets Revealed
Business tips from seasoned sellers can change your entire Amazon game. There are so many pieces that go into creating and sustaining a truly successful Amazon business. To withstand the evolving market, sellers need to know how to collect and connect those pieces and use them advantageously.
The best way to accumulate information, particularly insider knowledge, is to listen to those who’ve done it before and done it well. There’s no substitute for experience and it’s important to get your feet wet, even if that means making mistakes. Learning from others, however, is one of the best ways to absorb sound and evergreen business tips that will affect how you conduct your Amazon business.
In this episode of Amazon Seller Secrets Revealed by the AMPM Podcast, our guests touch on the two most invaluable nuggets that have helped them thrive in the Amazon marketplace.
Today’s question concerning some of the key business practices of successful Amazon sellers is:
“What are the two tips that have made a significant difference in your business?”
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Here is a more in-depth look at the expert answers:
The two best business tips that have fundamentally helped these sellers’ Amazon businesses are…
Danny McMillan, SellerSessions.com
“I think tip #1… which reverts back to building a network and getting access to information whether that’s from paid means in the mastermind… free mastermind. It doesn’t matter… but building a network…
And the second tip is to never run out of capital. You need to find means and ways to set up your capital because no amount of research and everything you do for your products and marketing if you haven’t got your runway… then you’re finished.”
Fernando Cruz, Partner of Seller Tradecraft
“Great question! The first tip I call the “monopoly method.” If you think about the game of monopoly, you want to have all the properties next to each other — ideally, all on one side. Like you own that corner of the board. I look at Amazon listings the exact same way — as you’re trying to own as much real estate as you possibly can. So, we’re going after these less saturated categories and just creating a ton of listings around it. Owning that specific side of the board is my first tip.
Building a good team is crucial to really scaling. We’ve been able to hire super-talented people, mostly overseas now… almost doing all of our functions (Human Resources, finance, inventory planning, product selection, sourcing, you name it). We find the best person no matter where they are in the world. We bring them on the team and then they can hit the ground running, which has been a huge part to our success.”
Matt Loberstein, 7-Figure Brand Owner and YouTuber
“Knowing when you should launch related products. There is so much leverage in launching a second, third, fourth product that relates to your first one. There’s so much we can do to leverage off the back of that.
You also need to know when you should branch out because sometimes you might exhaust all the options that are next to you and there might be a better opportunity outside of your niche. And that can be the seed for your second brand. For me, it was knowing when to expand to my first brand but also knowing when there was a huge opportunity outside of it. And that second brand became my biggest brand.”