The Secrets of Making Money on Amazon Like a Boss
Quit your job. Be your own boss. Have a successful business you run from home.
These things sound like dreams to most people; however, for many these dreams are reality.
How do we know such people actually exist? Universal Cargo Management has successful clients who import goods from places like China that they sell online through Amazon.
Whether you’re an online retailer already or someone who is interested in starting your own business online, Amazon presents a huge opportunity for you to reach countless consumers. Well, technically, they’re not so countless. Here are some numbers from ChannelAdvisor.com’s research:
- There are 40 million paid Amazon Prime members
- Prime members spend 2-4 times as much as non-Prime members on Amazon
- Prime members still make up only 30-60% of the “Amazon buyer’s wallet”
- Amazon has more than 270 million active users worldwide
- Amazon’s marketplace growth rate is more than double all of e-commerce’s growth rate (33% vs. 15%)
While Amazon presents huge opportunity for you to have a successful business selling through it, simply posting products on the site is not enough. You need to know some secrets to Amazon success.
Amazon is a competitive marketplace. Today we start a blog series on the secrets to success on Amazon so you can do more than dream about quitting your job, being your own boss, and running a business from home; you can make those things a reality.
In this blog series, we will cover many secrets to selling products on Amazon and making money like a boss. With the first blog today, we’ll start with the starting point to success in selling goods on Amazon.
Secret #1 of Making Money on Amazon Like a Boss:
Get to Know Amazon’s Rules & Services
Most people who try to make money selling goods on Amazon simply start posting items for sale on the site.
There is no strategy, no knowledge, and virtually no chance at success.
That you’re reading this blog means you’re already ahead of the game, ready to form a strategy for your online selling and setting yourself up to have success on Amazon.
Knowing Amazon’s Rules
Not knowing Amazon’s rules for online sellers can doom you.
You can’t win a game if you don’t know the rules. If you don’t know Amazon’s rules, you risk being banned and losing the opportunity of selling on Amazon altogether. Before you even start trying to sell on Amazon, read through their rules and regulations. Here’s the link:
Knowing Amazon’s Services
Knowing the rules is the basic starting point. Knowing the services available and taking advantage of them is a secret that will take you to a whole ‘nother realm of success on Amazon.
Here’s a quick list of Amazon’s selling services:
- Sell on Amazon
- Fulfillment by Amazon
- Amazon Payments
- Sell Globally
- Advertise on Amazon
- Offer Your Services
You can check out Amazon’s seller services page for information on all the services listed above, but the ones we want to focus on here are Fulfillment by Amazon and Sell Globally. You want to make big money on Amazon, you need Sell Globally with Fulfillment by Amazon.
Fulfillment by Amazon
Fulfillment by Amazon (FBA) is huge! You can grow your business without worrying about warehousing, packaging, and shipping.
Your products are stored in shipping centers by Amazon. When people buy your products, Amazon packages and delivers your products to the consumers. If that wasn’t enough, Amazon handles customer support and returns, on top of keeping your inventory secure and insured in case of loss or damage.
No matter how big demand becomes for your product, FBA ensures you have all the space you need to store your inventory.
Amazon can help you get into foreign markets. Not just that, you can see what markets are successful for you. You don’t need to know the language, translate, etc. Your products will be sold around the world right on Amazon’s site.
Selling globally opens up such a larger consumer base, providing you the opportunity to immensely increase sales.
Fulfill by Amazon is not just a domestic thing. Amazon has shipping or fulfillment centers around the world.
Secrets to Get You Bigger
Selling globally with fulfillment by Amazon sounds good and all, but how do you become successful enough on Amazon to even get to that point?
Importing a bunch of goods from China, listing them on Amazon, and failing to sell them could be a frustrating and costly venture. We want to help you avoid this outcome.
As we continue this blog series, we’ll look at more secrets of success on Amazon. Secrets to build up to being a successful entrepreneur who has Amazon fulfilling your sales around the world. Secrets that include tips for getting into one of those Amazon buy boxes.
Have experience, tips, questions, or comments concerning selling on Amazon? Share them in the comments section below.