Starting Amazon FBA selling requires time and diligence. It’s not for the faint of heart, and it’s not a get-rich-quick scheme. In fact, retail arbitrage through Amazon takes a lot of work. We’re not saying you can’t do it, but we want you to have the right expectations for when you start.
Amazon FBA selling is hugely rewarding, and it’s incredible to see your profits explode as you figure out the products that sell best. In some ways, it’s like a real life video game with real world profits. While the parameters may be a little different and targets may look like an actual Target retail store with a point and scan option for finding product, Amazon FBA selling can feel like the ultimate leveling up experience.
But, like with anything, it takes time to understand the strategy and best practices. Check out these 5 mindset tips for starting out with Amazon FBA.
1. Get Connected with Other Amazon FBA Sellers
While it’s easy to believe that you need to build your business on your own, that’s not true. Sure, you want an edge on your competition, but your competition could also provide valuable information for starting your business. Skip newbie mistakes by learning from people who have been FBA sellers for a while.
With that, we’d like to invite you to join our awesome community on Facebook called Hustle Buddies. New sellers receive support, and experienced sellers find new ways to grow their business. Everyone is committed to growing and improving – it’s a great community!
2. Practice at Home
When you start your Seller Central account, walk around your house and search different items. Just doing this can be useful because you’ll become more comfortable with the platform as well as begin to understand what product may be worth selling. The best part is you don’t even have to leave your home to begin learning about FBA selling.
3. Trust the Data
There is a reason people are always talking about product data – it’s important! Take the time to learn how to read data about the products you want to be selling and then trust it. These numbers can be so important to growing your business and understanding what products will be successful.
4. Buy Small Numbers of Different Products
When you’re just starting to sell on Amazon, don’t buy a ton of one item. If you have a small budget and you use all of it to buy one product, it’s possible that you may discover that this product doesn’t sell well. It will take a long time to recover your budget and gain any profit. Instead, buy a small number of different items to explore what sells the best. Hopefully, you’ll see a great return on your investment in a few of these items so your budget isn’t all tied up with one poorly selling item.
5. Make Mistakes
It’s better to realize that you will make mistakes than to be afraid of making mistakes as you build your business. While mistakes can be financially costly, those lessons often provide benefits that will exceed the financial loss, even potentially making up the difference one day.
As you start out your Amazon FBA business, it’s important to value the learning process and to be willing to learn from people who’ve started before you. Your business and profit will benefit!
