Today’s episode is the Playbook for Amazon podcast! Jeff Lieber from Turnkey Product Management welcomes listeners to the show that is dedicated to helping you amp up your Amazon game.
TurnkeyProduct Management sells 8 figures per year on Amazon for it’s clients, if you’re looking for actionable tips, lessons and mistakes to avoid in your own business, you’ve come to the right place.
You dream of building an online empire by starting and running a successful Amazon business.
You want to be as successful as your entrepreneurship idols who are changing the world and earning from their businesses.
But you know that Amazon success is a long game. Its survival for the fittest.
In one way, that's excellent- because all your lazy or confused competitors will drop out.
In another way, it sucks, because as a newbie to selling on Amazon, it can be daunting.
In your early days, you may get stuck doing market research, finding the right product, and looking for reliable suppliers.
It's a jungle out there. For a "newly hatched" business, it's harder to survive.
But there are several things (both big and small) that you can do right away as a "hatchling" to start gaining ground "in the jungle." They will transform you from a newbie to what seems like a seasoned pro.
Here are 4 tips that I’ve found helpful when you're getting started and set yourself up for Amazon success, right from the beginning.
1. Look inward
When you're getting started on Amazon, it's natural to get obsessed with finding a product that will make the most money.
You will read, watch, and listen to other people's stories while building up your list of product ideas.
Looking for the right product idea is a bit of a honeymoon because you can't keep off your hands away from it.
But honeymoons don't last forever. An obsessive focus on finding the right product idea will leave you stuck.
As you learn from other people, recognize when it's time to look within to come up with product ideas. Here are a couple of questions to help you get started:
- What are you good at?
These are things that you find easy to do, but other people struggle with them. It also includes the qualifications you have and the jobs you've had in the past.
- What are you passionate about?
These are the causes you support and what you believe in. It could also be an outcome that you want to see in the world.
- Who would you love to serve?
It could be a group of people who are facing specific challenges or have a specific financial profile.
Answers to these questions will spark several ideas that will guide you on what product to sell.
It will also give you enough adrenaline and enthusiasm to get started and keep you going.
2. Take the leap
Looking inward will give you several ideas and insights on what products you need to sell.
If you have a full-time job, you might find yourself trapped- you're afraid of quitting your career and your business doesn't take off as you expected.
But that doesn't mean that fear should hold you back. Facing your fears helps change your perspective, giving you the courage to take the leap. Here's a creative exercise by Tim Ferriss to help you do that;
3. Be a smart risk-taker
Most of the progress you'll make will be backed by action. Ordering your products, reaching out to influencers, building a website, and marketing.
Taking action is a beautiful thing. But you need to reduce the amount of risk associated with the actions you take to build and grow your business.
Identify different suppliers to help you get the best products at the best prices. Order a small number of products and see how fast they go. Build relationships with influencers.
Ask for referrals from your buyers. Collect feedback from your initial buyers and improve on it.
Play it safe
Sounds counterintuitive, but this one will make all the others work better.
Through Amazon, a whole new world of opportunities will open up for you.
Selling different products that will make you more money in the short term sounds like a good idea, right?
That's not how this works.
Focus your time, money, and energy on the product you selected. Chasing every trend in the marketplace will lead to burnout.
Paying attention to one product is scary. You’ll be playing it safe by betting all you have on it but it will pay off in the long run. Spreading yourself too thin won't protect you either, as it will lead to failure.
Selling on Amazon is the same as anything else…
Because at first, it will be hard. You'll make the occasional sale. But people won’t be all over raving about your products and referring their friends and family to you.
After a while, it will get easier. One day you'll look at how much progress you’ve made and be grateful that you followed the ideas in this post.
You have to get started and keep going. You have to trust that it will pay off. It has paid off for me, and I know that it will pay off for you too. Not only through money, (though that's nice) but through connecting with people who need your products.
You have the skills. You're passionate enough. And you have the ideas that will transform you from being a newbie to a seasoned pro.
So, get out there and start selling!
If you're patient and put in the work, you'll be fine.
Want help on Amazon? TurnKey Product Management sells over 8-figures on Amazon per year by quickly scaling brands on Amazon to grow into a profitable 7 to 8 figure sellable business faster than you could on your own by identifying & providing the missing proven strategies your business needs to accelerate sales and free up your time to do what you love!
For free resources and trainings that can boost your business on Amazon, go to: TurnKeyProductManagement.com/resource
Schedule a breakthrough session with TurnKey to scale your brand to the next level here: http://www.TurnKeyProductManagement.com/talk