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How to Make $10K a Month on Amazon in 2020

Capitalism.com
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January 10, 2020
How to Make $10K a month

Want to learn how to make $10K monthly using Amazon FBA but worried you’ve missed the boat?

What would you do with an extra $10K a month? Sure would be nice not ever worrying about paying your mortgage on time. College fund? Retirement? Dream vacations? Saving would be a breeze. What if we told you making this much money wasn’t as hard as it sounds? Thanks to a little program called Amazon FBA, anyone with the right mindset and determination can become a successful—and very wealthy—entrepreneur. 

How to make monthly money on Amazon with FBA

Are you ready to learn the secret to building a small business that lets you live life on your own terms? 

First, How Much Is 10000 a Month a Year?

Let’s do some basic math before we go further.

Earning a profit of $10,000 each month is equal to an annual salary of $120,000. Working a regular full-time job, you would need to earn $58 an hour, 40 hours a week, 52 weeks a year to make this number a reality. To be honest, it’s not easy to find jobs that make 10K a month.  

If it were that easy to find jobs that make 30,000 a month, you wouldn’t have to hunt for them. Plus, as anyone who’s ever been laid off knows, “job security” is a mythical creature. Even with today’s low unemployment rates, paychecks can disappear with a moment’s notice. 

That’s one reason people decide to start their own business instead. By building a small brand of your own and selling physical products online through sales channels like Amazon, you can start taking control of your financial future. 

How Can I Make $1000 Fast? Is It Possible on Amazon?

Amazon FBA is such a unique business model. Third-party sellers make up more than 58% of all sales on Amazon, and these numbers continue to grow at a rate of 52% a year. Literally, anyone can open up a virtual storefront and reach a massive audience in mere minutes. So, if you want to pocket a month’s salary in a fraction of the time, taking the FBA route is an excellent place to begin. 

You don’t even need a warehouse to store your inventory. Once you source your products, you can choose to have your supplier ship them to Amazon directly. Then, when someone purchases from your store, an Amazon worker ships it out right away. Best of all, as an FBA seller, every product you carry is Prime eligible. That free 2-day shipping is the number one perk of being an Amazon Prime subscriber.

After selling a few hundred units, you could make a nice profit. Once that first $1,000 hits your account, you’ll be unstoppable. Your friends will start asking you how to make 5000 a month from home—and you’ll be able to tell them how. 

How Can I Earn Side Income?

Die-hard entrepreneurs build up real brands, with the intent of scaling the business and then possibly selling for millions of dollars. These entrepreneurs invest their entire being into making their brand a huge success, and they won’t settle for anything less. It becomes their new full-time job. They eat, sleep, and breathe how to make their business thrive.

But, you may not have that same level of ambition, and there’s nothing wrong with that. Maybe you just want a decent side income to be able to live life on your own terms. Using Amazon FBA to generate a $10,000 a month cash flow may be the right approach for you. 

Your Amazon Side Hustle All Starts with a Single Product

You don’t want or need to have a plethora of products—just 3-5 products that serve a specific group of people so well they keep coming back to buy more. In the end, you’ll only need to make about 25 sales a day to hit your goal. It’s only a matter of time before your monthly goal increases, and you learn how to make $10K in a week - maybe even in a day. 

So Many Product Choices, So Little Time

Do you have any clue how many products Amazon sells on their site? Currently, you can sell products in 20 different categories. Under those umbrella categories, you find an endless number of sub-niches. With the exception of illegal products, hazardous materials, alcohol, and a few other noted items, you can sell almost anything with FBA.  

However, just because you can sell something doesn’t mean you should. 

Choosing the perfect gem—that one product that will fly off the shelves—can be as challenging as choosing from the epic novel The Cheesecake Factory calls a menu.

What product should you sell? 

To create a $10K a month income, you’ll want to choose a product with high profit margins. 40% or more is a good place to aim. Selling the cheapest item on Amazon FBA won’t get you there unless you can make thousands of sales a day. Now, that doesn’t mean you must run out and start inventing a never-before-seen-revolutionary-thingamajig. You just need to be able to justify a higher price than other sellers. 

How can you get away with charging more? 

Think about innovative ways you can tweak the product. Private labels usually sell better than generic items—creating an image will also boost brand recognition. Come up with a name and logo to slap on all your products to make scrollers stop in their tracks.

You should also add something to make your product better. Go ask the women in your life about pockets, for example. Clothing designers don’t think females need functional pockets, but women love them. So, if you decided to sell a skirt, adding pockets would make your product instantly stand out from the crowd. Plus, you could charge a premium for your ingenious idea.

Riches in niches (if they’re big enough) 

How to make money with a profitable niche

Now, for an extreme example, selling something a bit more specialized will always command a higher price than just knocking off what everyone else does. Let’s say you sold a really cool, made-from-scratch microphone. You could charge a super premium price. The right buyers would still be all over it. But, you may also end up limiting your potential buyers by selling something so micro-nichey. 

3…2…1…And We Have Liftoff!

You’ve sourced the perfect product, ordered plenty of inventory, and created a compelling private label. Now what? Technically, once Amazon has your merchandise in stock and ready to ship, you can begin selling to the masses. It’s possible to complete the entire process from start to finish in about 90 days. But to reach that monthly $10,000, you’ve got to have a successful, well-planned launch. 

Amazon serves as an outlet for you to list and ship your product. But they’re not going to sell the thing for you. Once you have your product in the launchpad, it’s up to you to start the engine and light the rocket boosters. Once you start making sales, Amazon starts paying attention.  

Sales Lead to More Sales

No, you don’t need millions of followers counting down the days until liftoff. But you do need at least a few hundred excited fans who will buy from you at the very beginning. They’ll not only boost your sales ranking. They will also, hopefully, leave you positive reviews. Besides, a few glowing reviews and an influx of sales will also appease the Amazon search result gods.

Not an Influencer with a Massive Following? 

Even if you’re a reclusive hermit living in a desolate cave, all you need is access to the internet and a bit of social media outreach. Connect with your target audience using Facebook groups. Set up an email list and tease your readers with sneak-peaks and exclusive early access. Snap a few pics for your shop’s Instagram account, and request your followers to share your launch using a creative hashtag. You can market your upcoming launch anyway you feel comfortable—or slightly uncomfortable—connecting with people.

Or, if the thought of making yourself visible to others terrifies you to no end, you can partner with someone who already has the audience.

How Can I Earn Through YouTube? Roll Tape!

How to create a 10k a month business with Amazon and YouTube

YouTube has taken the internet by storm. With 1.68 billion global users in 2019, forecasters don’t expect to see the popular video platform slowing down any time soon. As you probably already know, you can make money on YouTube. But how can you get your own piece of that delicious, lucrative pie? 

Video creators upload their content and collect a few coins from advertising revenue. Others accept corporate sponsorships or push their branded merchandise line. The most successful creators get millions of views per video and have been on the platform for years. 

Wait. I Thought We Were Talking Amazon?

Now, you’re probably pondering, “How does this apply to my Amazon FBA store?” Well, the answer may come as a complete surprise. You don’t have to become a video superstar in order to earn cash on YouTube—what you need is a surefire plan and a bit of networking.

Instead of becoming a content creator, you should partner with a few. You have a product, and they have an audience. Send out samples to YouTubers with a decent following, and request they review it on their channel. You can sweeten the deal even more with a percentage-off coupon code for their viewers to use if they purchase from your Amazon FBA shop. To get the most bang for your buck, consider sponsoring a video or paying the creator through an affiliate program.

And voila! You’re exceeding your 25 sales a day, and your bank account is bursting at the seams. 

Go from Average Joe to Serial Entrepreneur

Now that you have the secret recipe on how to make $10K fast, you may start wanting even more. You already have a proven seller. So, you can consider putting more products in your FBA store. Congrats, you’re officially a serial entrepreneur.

Remember this, however. It will cost you more money upfront to handle multiple products. Only after you begin making at least 25 sales a day on your initial product should you even start thinking about adding a second one. This magical sales number will ensure you have enough income to cover the additional costs needed to source, brand, and market a new item. Once you reach the 25 sales a day mark on the second product, you can consider adding a third one.

A Fortune Built One Product at a Time 

Building a rockstar product line one item at a time is how to make 10000 in a day. Yes, you read that number right. Once you have 3-5 products doing well, you’ll be able to easily average about 100 sales a day. That’s the formula for a million-dollar business. You probably thought that $10K-a-month goal was outlandish, but now you can make that a single day. Before you know it, you’ll want to know how to make 50k overnight. Perhaps you will be able to with a few hot-ticket items and Amazon FBA - especially at the holidays.

But, maybe you don’t want to continue building your FBA store. Perhaps you feel content with a $10K monthly business. After all, as the business owner, you get to make the rules. You choose how hard you want to work. If this sounds like your plan, you can keep your cash flow on a steady trajectory if you aim for 40-50 sales a day with your first product. 

Keep Your Eye on the $10K Prize

Once you find your money-maker, remain laser focused on selling it. After hitting your first $10,000, you’ll want to tell others how to make 20k a month. Your potential income with Amazon FBA is boundless. You can earn however much your heart and wallet desire.

Are you ready to drop everything and sign up for the FBA program? The risk is low and the potential for success is high. 

Here’s the TL;DR on how to create a $10K a month business on Amazon: 

  • Choose one product and sell at least 25 of them per day.
  • Go after products with higher profit margins—40% or better.
  • Create a smashing launch to attract your first round of loyal fans.
  • Rinse and repeat.

Following this simple formula could make every month a $10K month. You’ll be able to live the life you desire—on your own terms.

Intrigued and Want to Learn More?

You can give yourself a huge head start and avoid the common pitfalls that most new product sellers fall into - and we’d like to help. We’ve prepared a presentation that’ll help you get started (even if you’ve got less than $1,000 to buy your inventory), and it’s absolutely free. Get it right here, right now.

 

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