Automated selling for small businesses

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because I know you've seen videos of people that have made tons of money doing FBA this probably isn't what you expect to hear I'm projected to do about this year in my Amazon FBA business for the past year and a half I've been diving deep into the world of Amazon FBA and you really need to hear and understand what I'm about to tell you for those that don't know Amazon FBA stands for fulfillment by Amazon a service that allows you to sell products through Amazon's platform while Amazon takes care of the storage packing shipping all that stuff plus you get access to being on the Amazon Marketplace as well as taking advantage of prime shipping and all the benefits that Prime members get I was drawn to Amazon FBA initially because of its potential to create a passive income stream as well as just the flexibility of the work in general I also loved the idea of private label and how it gave you the opportunity to really build your own brand kind of create your own product find a hole in the market and fill it with a product that you could solve a problem with yourself I just love that whole idea and like the creativity that it offers you and the sense of fulfillment when you see a product that you designed in the Amazon Marketplace but like with any business it comes with its own set of challenges and a big learning curve over the past year I have learned and studied the ins and outs of sourcing listing optimization product SEO and advertising on Amazon in this video I'll share with you my successes my failures and really everything in between and the in between may just be the most important part because I know you've seen videos of people that have made tons of money doing FBA and I know you've seen videos of people that have failed at it I will give you an honest and transparent look at what it really takes to run an Amazon FBA business and whether or not it's worth it for somebody like you so if you've ever thought about starting an FBA business or if you just want to follow along with my journey let's jump into it before we continue I think I feel like I have to say if you do like the video if you if you get any value from this video hit the like button I understand the algorithm thing it really helps me out as a new Creator I would really appreciate it thank you let's talk about some of the things that I love about FBA number one I have loved the idea of being able to bring my own product to Market that's something that I've always wanted to do I'm a big fan of Shark Tank there is no hope you're going to zero with this I'm out I'm a big fan of just entrepreneurs who are able to take an idea create a physical tangible product out of it bring it to Market provide value and then see customers have the desire to actually purchase something that you created that idea to me is just something that's so exciting and it's something I'm really passionate about and private label and FBA kind of gives you the opportunity to do that over and over and over again which works really well for an add brand like myself second is I love how passive the business has the potential to be you can't fool yourself and think that just because you start an FBA business that it's immediately passive right off the bat and you're just gonna make money hand over fist month after month without putting in any effort a lot of people may you know tend to think that that's how it can work I believe it actually can work that way to a degree free you will always need to put an effort into anything you're doing if you want to see success but a well-built Amazon FBA business I do believe has a massive potential to be pretty passive the third thing and not a lot of people may mention this because it's not always looked at as a positive but there's a competition aspect to this business that for competitive people really kind of like gets your gets that competitive juice going oh no in Amazon you are placed in a list of other competing products similar to the product that you're offering and it's all up to you as to whether you can actually compete with that competition create a better product put it at a better price reach your audience better and convert somebody to a sale better than your competition when you do that it's an awesome feeling third and this is kind of like the bread and butter of Amazon FBA it's why people try it it's why a lot of people go from Drop Shipping to FBA and that is that the Fulfillment process is so easy and so hands-off once you actually get your product to an Amazon fulfillment center you will be shocked at how easy the process is from that point yes you still have to worry about optimization yes you still have to worry about you know optimizing your PPC campaigns yes you have to worry about you know if your inventory is running low but other than that if you've got a great product you've got a great listing it's optimized well you're working hard to get reviews you're promoting it through advertising really at that point once you you open up your phone and you see the sales come in and you know that your hands off at that point it is a great feeling a return comes in no big deal you're not dealing with that and finally just realizing that you have the opportunity to plug your products into the largest online shopping market in the country is very unique I've done Drop Shipping I've been at that place where I I build a website based around a product that I'm excited to sell and you get that website built and you get those ads made and you're so stoked to just get that first sale and then it's crickets that's because nobody's looking for you all of those kinds of business models are disruptive people are scrolling through their Instagram they're on the internet you're feeding them an ad and disrupting what they're doing Amazon FBA they're already searching for your product they're searching for your keywords all you need to do is just be able to beat out your competition and then that customer that already wants you is right there and a one click and a two-day shipment away from receiving your product now let's talk about some of the things that really suck first and foremost this is not cheap don't let anybody tell you that you're going to be able to launch a successful product with little to no money because it's going to take some money how much money really depends on you I think you could do it from anywhere from like a thousand dollars up to like I mean it could go as high as you want ten thousand twenty thousand depending on your product and your strategy but if you've got 50 to 100 to I'd say even five hundred dollars you're probably not going to do it it's not a tiny startup cost you have to pay for your seller account you have to pay for some softwares you have to pay for samples you have to pay for inventory you have to pay for PPC you might even have to pay for coaching and analytic tools the bottom line is treat it like a real business anybody that's successful in FBA will tell you that but just know that there's an upfront cost to it the second thing is that Inventory management is actually harder than you would think it is you have to really be able to time the rate at which you believe your product will sell out because you could be looking at weeks and weeks if not months before you get products back in stock so you have to really be on top of that it's a lot of forecasting you really have to look in and dive into your numbers when a reorder may be necessary take it from somebody who has lost out on a lot of sales due to running out of stock of inventory it sucks and you will lose money that way if you're not careful the third thing and I can tell you this because I'm not a coach but it's harder than you think to find an actual winning product despite what people may tell you you most most likely are not going to get lucky on your first product attempt and heck you might not even want to do that I think I learned more about FBA in my first product failure than I did in my next success because everything I learned not to do taught me exactly what to do in the following subsequent product launches and actually my next one became very profitable thanks to the loss I took on the first one that being said if you are one of those people and I know them I've seen those people I've met the people that launch a product their first try and they absolutely crush it I wish I was you man it's an incredible thing and it does happen so don't count yourself out don't think that you can't do it on your first try I'm just saying if you take an L on the first one turn it into an opportunity to learn and to grow and to be successful on your next one fourth and this is probably something a lot of people don't like to talk about as well it's very disheartening to put in hundreds if not thousands of dollars into a product just to watch it flop yes with a product that flops you will still sell some you'll recoup some of that money but the harsh reality is you're going to lose majority of it on a failing product but what else can you say except that's business baby I mean if you're not willing to take the risk it's not the business for you which again is understandable you just clicked on this video asking for my opinion so I'm giving it to you stuff happens in business you can't take wins all the time sometimes you just gotta know when to cut your losses and move on and take the things that you've learned and apply them into the next round but that goes to show you why product research is so important that's why you need those analytical tools that's why you need that software that's why you potentially may need a coach is because they do have shortcuts and advice to offer you to help you skip over some of the hurdles that they themselves and other FBA sellers have faced the next one is that I personally believe virality may actually kill your product and probably does more harm than good this is not the case in Drop Shipping in a lot of cases people that are Drop Shipping are trying to hit a product viral so they can make some quick money out off of it abandon it at that point and move on to the next viral product it's a tough business that being said there's a lot of drop shippers that take that Viral product take the money from it and build a brand out of it and that's great on Amazon a viral product really is not what you're looking for you're looking for a smart improved upon sustainable product that meets a customer's needs and solves a problem if you can find those things in a product you don't need to worry about its virality you're not hoping that it catches attention and then is shared across all social media that's great but all you really need is to optimize to stay on page one the last one is you really gotta know your competition you gotta understand the Chinese knockoffs that are going to come into the market you've got to understand that Amazon themselves sell products in these different types of markets but understand this that both of those scenarios are not a problem if you can focus on creating a good overall product now in order to give you some value here let's go over some examples of my past failures and why I believe they were failures believe it or not I'm going to do the unthinkable I'm going to share this product with you actually I don't sell it anymore funny enough I do believe that this product actually could still do well I just didn't know what I was doing the first time around and I don't think I positioned it in the market as well as I could have here it is right here I'll throw it up on the screen as you can see it was kind of a big elastic band that goes around the base of a chair so that you can put your foot on it you can put both feet on it you can bounce on it it's kind of a sensory activity the problem was I didn't know where to position this product I couldn't aim it at the perfect Market I couldn't figure out who really wanted this product I just kind of picked a category threw it out there and just prayed for sales and like I said I'm not ashamed to admit that this was my first product I did not know what I was doing I just knew I needed a good product I needed it to look good I needed it to have high quality and then from that point if I could get it to page one which I did that I figured it would sell and it did sell but I think in the end I maybe broke even on this product maybe took slight loss but like I said the things that I learned the lessons that I learned from this product were very very valuable but they weren't all winners from there on out my next product I did very very well with I'm still selling to this day I actually did eight thousand dollars in the first month that this product was for sale and since then despite you know keeping it in stock and having issues with keeping inventory in stock it still sells very well so in case you were wondering by the title of this video no I am not giving up on Amazon FBA if anything I feel more confident than ever in my ability to sell online I've seen both sides I've taken some massive L's and some pretty big W's just like in any business the point is I'm passionate about it I'm passionate about learning more about it I'm passionate about figuring out how to get better at it this is about learning and improving your skill set no matter what business you're in it's about finding and pinpointing the exact area where you can provide the most value and then from that point it is execute execute execute and learn and learn and learn and execute more none of that will happen though if the passion's not there and then from that point just don't give up you're gonna have hard days you're gonna take some losses but understand that that's part of the journey on your way to success I'm projected to do about fifty thousand dollars this year in my Amazon FBA business this probably isn't what you expect to hear you may expect to hear me say that I raked in a cool million this year or that I'm pulling in an easy 20 grand a month within my first three months of selling on Amazon anyone can do it but the reality is even after a full year I'm not there yet and frankly this business probably isn't for everyone but when you focus on the big picture and you can identify a true passion for the process and you're willing to dedicate some serious time effort and money to a business then Amazon FBA may actually be for you who knows you actually could start out doing those huge numbers that you see in people's videos or you may not but before you do any of that my advice is to ask yourself what are you really passionate about and then do that if it's building a million dollar a year passive online business well then see you on Amazon foreign