Category: Uncategorized
WATCH THIS AMAZON FBA VIDEO THAT WILL TEACH YOU HOW TO START A AMAZON FBA BUSINESS IN 2020
Here is the video inscription for anyone who would like to read instead:
If you have heard about the news that Amazon has its opportunity to sell in their platform and you can make money doing it. This video is all about how to do that. If you are brand new to this today. I'm going to walk you through the four most important steps. You need to effectively begin selling on Amazon to make money.
Hey guys, this is Steph. Can you keep it real. So excited to be here today and explain this to you. I'm a seller in Amazon for several years. Now. We did over 3 million a year in Revenue 40 to 60% profit. We started off at zero. We went up to my first check which is like a month $15 then we got to ten thousand a month in twenty thousand a month and just kept a-rollin it from there cuz I'm going to show you step-by-step the main Keys now, this is not everything you need to know to succeed and anyone who tells you that is lying to your face. I'm going to give you the basic steps to get started.
There's a ton more you need to learn as you go but at least it should give you a huge advantage over just running to this blindfolded. I made a ton of mistakes. I'm one of the worst examples to follow when it comes to how to start selling in Amazon at least in the early days. I lost over $20,000 doing bad deals with people that didn't realize they were going to take advantage of me or not doing a good job in differentiating my product so you can learn from my mistakes and that's why I started this whole training in the beginning was to teach others when I've learned so I'll have to make the same mistakes that I did number one. You need to understand the process. The way Amazon works is you become a third-party seller does another option to become get what's called a vendor Central account, but I don't recommend it at the beginning because it's more advanced it also limits of you as well.
I preferred the third party seller account. So you go to amazon.com and you sign up and become a seller going to go to Services. Amazon.com / selling benefit. You can see the URL right here on my screen. You're going to click the start selling button and sign up for an account. Now the way the process works is you were going to send products into Amazon's Warehouse after you've done your product research and made sure that the product is selling has high demand, but low competition then when someone comes along and finds that product on amazon.com and as you know, there are billions of transactions happening every year now and Amazon, it's a massive.
I mean the money you can make on this is so extreme. It's not even funny they're going to find Product and when they buy it you get paid a percentage of that and Amazon ship the product out for you. Now at first this is kind of scary to people why wouldn't you want to ship it? Well when you're doing a thousand orders $2,000 a day, I promised you do not want to be doing that yourself and you will end up spending more money paying someone to do that the Simply Having Amazon take care of the whole thing for you as well as the customer service.
This is why people use the term FBA it stands for fulfilled by Amazon or Amazon for Phil's the orders for you. This is why I believe in passive income through Amazon because when we have all these products that are selling everyday going out being shipped out by Amazon it allows me to have freedom to do other things focus on building my store taking out my wife on a date hanging out with my kids working on the accordion all these different things I want to do. It gives me time and freedom to do that.
I don't have to worry about calling in sick or talking to my boss or being somewhere at a certain time because we built a system that makes money for us even while you're sleeping. You're making money. So the first thing is you need to understand the process in the first step to that process is sign up for an account. Then when you first signed up there two kinds of accounts. There's an individual account and there's a professional seller's account. An individual account is free. However, every time you sell something not only will you pay the Fulfillment fees for Amazon for filling it for you and the storage fees in the referral fee and I can explain those later and it ends up being around 33% of the price that you're selling a product for. So just keep that in mind when you start if you sell your product for $100 about 33 of that goes to Amazon that might seem unfair at first it did to me when I first started but the more I understood how these work.
I don't have to spend money on marketing to get people to buy my products because they're already on Amazon people ready finding them way less money to pay Amazon to do that for me than for me to do that for myself to her own e-commerce online websites. So when you get an individual sellers account, it's free. However, every time you sell something not only will you pay a proxy. Leah total of 33% and fees but you also pay an additional $0.99. This is a per-item feet and it's for the privilege of selling on their platform. You're paying them a fee for that when you get what's called a professional seller's account which cost $39.99 a month. You don't have to pay the pride and feet.
So naturally once you're selling 40 or more products a month you're breaking even but the advantage of having a professional seller's account. If you get access to run ads on Amazon, have you ever been to Amazon and you're looking up organic makeup? And so you search for it and you see these little boxes that say sponsored those are at a lot of people don't even know their ads will those come up first because someone's paying to have them get there so that they make money will you have a professional seller's account you have the option for ads you can also have what's called business reports is reports. You can download and look at understand how your business is doing and what you need to do to tweak it so that you can optimize your success and make more money and keep expanding your store.
Here's what I love about selling in Amazon. There's no limit when I work for Apple. There's always a cop how much I could make a 2% raise over 3% race. I'd work my butt off all you're trying so hard to make more money for my family and they gave me this Little Italy number three to 4% race on Amazon. There's no cap. I can make more money and more and more and just keep growing and growing and growing it. It's almost unbelievable step number to you need to find products that have high demand and low competition. This is very important and there's several tools you can use to do this one of the easiest ways to start if you just go to Amazon bestseller list if I Google Amazon best sellers and go right here, I can see products that have a huge sales rate of some of these obviously I cannot sell because they're what's called gated like clothing at the beginning. We couldn't sell clothing now, we can't until you have a good reputation.
But for most of these categories over here on the left side, you can sell these right away. So for example Sports and Outdoors, this is a great open category you go Play here and let's say you go. Hey, look at this. They have a foam roller. I'm going to click on it and I want to see what they're selling it for us and selling it for around $8.75. Can I Source this and make money especially if I'm in the $14 range for the $17 range now, obviously the demand is a huge impact on this. How do I know what the demand is? Well, that's based on What's called the best sellers ranking. Let me show you if you scroll down on the listing or you can just take command at 4.
You can do control ass. If you're one of those people who sadly use a PC no just kidding. But if you just do command app and you can see it come up here in a type installers and hit enter. There it is. I can quickly find in this page. What is the ranking now? This foam roller is number 2 in Sports and Outdoors. That means it's selling like crazy. But how do I know? It's only a crazy because of the BSR anything that is 5,000. BSR or lower is selling a ton usually 15 times a day or more not going to vary based. The product category but that's in general rule of thumb.
Now. I know it is selling fast and is selling strong that means our potential to sell this product. But the next question is well, how do I know that there's not too much competition if there's 50 other sellers for crushing it out there my chances of showing up on the first page of search results are very slim. Let me show you how to do that. You came over here to amazon.com and you going to type in What's called the main keyword or the same keyword. How do you know what the main key word as if you were to remove all other key words and it's still made sets. That's how you know, if we remove this first phrase amazonbasics high-density round foam roller and we just called it blackened speckled colors.
Well, no one selling blackened speckled colors and Amazon. Hopefully not that would be kind of weird. If you we just called it high density that would have to be kind of weird. So this situation we're just going to focus on the main key word. In other words the keyword that without which this would not make any sense. So Wouldn't sell round foam or just foam it's a foam roller. That's remain keywords. I'm going to copy that I'm going to come up here and I'm going to search by searching. The main key word is going to quickly tell me who are the top sellers that when I scroll down you're going to see these are the top sellers. That's why they're showing up on the first page of search results. Now, here's the little r amateur. I'm going to use to determine the two at competition for this your goal is to show up on the first page of search results when someone types in this main keyword foam roller, but the only way you can do that is if none of these cells are selling too strong now, the reason I'm using foam rollers because I know it's a very popular product and it gets a lot of data, but I can tell you the competition is Extreme just for example, I'm going to scroll down and I'm going to go to the last one on here.
So another words the lowest ranking on this page and it's not this one. This is sponsored. That's run by an ad. This one is as well. I'm going to scroll up. It's this one right here. I'm going to come and African. Sellers again until I find the BSR quickly here it is and I seem to be a star is 10,000 anything that is higher than 5,000 would not be considered a strong top seller 10000 is not that amazing. It's strong but it's not nearly as strong as what I'm looking for because the last listing on that first page of search results.
The DSR is higher than 5,000. Remember number one is the best selling you want to be number one in the race. Not number 100002 anyting 5000 and Below as a general rule means it's a strong Cellar because this one is 10,000. Means. There's a chance I might be able to compete because this person is not selling that great for the foam roller. I can get on that first page of search results much more easily than not selling enough to make it as a problem for me to compete with them. So what I'll do is I'll do and I don't just do this one day you need to do this every day for a couple weeks find out everyone in that first page of search results and see if anyone is showing up.
higher than 5000 BSR to start which means it's not selling as well. If you consistently do then you have a chance to compete. This is the first indicator their strengths that is a lot more. I can show you and teach you different things you want to look at but this is the first step in the most basic way to teach how to understand if there's potential and I just used to be a star I figure out the competition but you can be a start I figured out the man by using BSR any used to 5000 perimeter as a general rule of thumb is to be risk myself as much as possible.
Once you are determined and very assured that your product is high demand and not too strong the competition. In other words, you can show up in that first page of search results because other stars are not doing as well as you are the next step is to find a supplier who can build your product and the easiest way to do this is to go to Alibaba. The Alibaba is not a supplier itself. They don't even technically partner with suppliers. It's more like a business networking platform where there are ton of opportunity. Talk to connect with nice negotiate with suppliers does a few pieces of criteria. I'm going to give you to make sure you work with a supplier who is trustworthy.
So let's say I want to search for my foam rollers and I want to see if I can Source here. So go to alibaba.com come here to the top and type in a foam roller. Not going to pull up a whole bunch of different suppliers who can fill these out for you. The next thing you want to do is make sure you click on trade assurance and gold supplier. And if you really want to be extra safe, you can click on a Cessna flyer. Now this filters out anyone who I wouldn't trust me. I know I'm dealing with gold suppliers. This means they've been pre-qualified they had to pay a minimum of two thousand to $2,500 just to get on this platform.
You lease cameras aren't willing to pay that much money that when everything cheap and free second assess mean someone actually a third party company visited. Supplier in assured that they have a warehouse facilities that are legit. They are actually building a product as a factory should and trade Assurance me and you can get your money back in case you get screwed over so I come down here and I begin to search and I say well, let's see this one. If I order a hundred pieces only cost me $2.50 and I have to make sure that if I am going to sell this product, I need to be one hundred percent sure that I can beat the competition and still Be profitable with my price.
So they're selling it at 4795 and I can see it's very bungled. I need to make sure that at least 67% of that profit either goes to the supplier or to me and the remaining 33 goes to Amazon. So I'm going to come through here and let's just say while I'm looking at this one. This looks really interesting. I like the design and I begin to look at this one. I can contact his supplier right now. I click on here. It's going to open up a box and here's where I can type in the information that I'm looking for and request them to tell me how much does it cost if I order 100 of these now key part in this if you want to differentiate your product the bundle I just showed you where they're selling do foam rollers and whole bunch of other stuff the seller did that so that you get a whole lot for your money and that causes them to rank better and more people to buy it because there's increased value and I can guarantee you most of those other items included are really really cheap.
But because it looks good if perception buys huge they were able to buy and I don't need cheap and quality I mean sheep in price make sure you Study your competitors critical reviews to find out what their customers don't like about the product. Then you build your product to fix those problems. And you do that when you talk to the supplier on Alibaba see look, I love this foam roller, but I need a smaller one or thicker one or more firm one because he competitors reviews keep complaining that their tooth squishy. You see that's how you differentiate when you differentiate people have no reason to buy from you instead of the competition. Let me go back number one understand the process you're going to buy products and send them to the warehouse Amazon shipped it out for you.
Never to find products with high demand low competition. How do you do not know the BSR use 5000 B A start as a general rule of thumb number three find a supplier who can build the product for you and also differentiate that product now number for send the product in Amazon start making money. So once you talk to your supplier and you come up with an agreement, they're going to give you a little form to fill out include everything you need to know to say. Oh, I want one that looks like this one in the picture.
Is that want one that 6in diameter? I want one that includes is this kind of phone? I want one with c-140 Pantone color be specific and when you purchase it use the trade Assurance option, that means if they try to screw you over you can go back to Ali Baba and put in a claim and say luck. This is not what I was looking for. This is not the right product and that way the Safari can't hurt you and take your money. But if you use the filtering options, they showed you to filter out the scammers and the wannabes but not the real suppliers.
It's very likely you're going to be scammed or screwed over because these are legitimate suppliers there for reasons. They have gone so far status and it says Safari all these things they use trade Assurance because they're not going to try to scam you. It's very rare that is scamming supplier would allow trade Assurance as a payment option when they realize they can't teach you because Alibaba uses a third-party escrow service to hold that money before ever goes into their account. You have to click a button that says I approve of the product it completely protect see which is really nice. These four steps can get you Started one more thought when you send your product in Amazon warehouse to start making money. I recommend you have the supplier print the FN SKU label on the retail packaging of your product the for example, if you were selling a lint roller and this is in a package the package the retail packaging kind of like this. This is retail packaging you want there to be the FNS.
Can you code on here? So when it goes from the supplier can go directly to Amazon warehouse not to your house. You don't want to deal with that inventory and they will stock it up for you and when sellers begin to find your product is start buying it every two weeks you get a payment from Amazon and you can set up so it's a direct deposit into your account which is how we started we done ever since then the FNS. Can you label will come up when you're in Seller Central you go to send your product into Amazon's Warehouse. They will show you the FNS. Can you label a bunch of other videos on how to do that? There's a 10,000 were things that are important to understand the process, but I want you to know these four steps in a nutshell. This is how you get Amazon when I began I had to watch any video I had written a book about Amazon.
I just started and I learned as a whip and it was hard and it made a lot of mistakes. Our team can help you do this faster and safer. We have a team of it nine coaches who are Advanced Amazon sellers own multiple online businesses. They're making hundreds of thousands of dollars. They can help you scale that process and teacher step by step how to do it. If you know, if you can part of a community will constantly reach out to you and help you answer your questions and the coaches as well. There's a ton there. But either way I hope this is helpful to you guys were considering starting Amazon guys. I started doing this just a few years ago. I'm so happy I did I will never forget the day we got to twenty thousand a month. I was blown away. I'd never seen that much money in my life ever before Amazon has made me more money than all of the money I ever made combined telling you it is worth it is hard for competition out there. But if you study and you do a good job, you can do this and then Fire your boss and have margin to the things you love with the people you love you guys.