As Amazon sellers, it may be fairly simple to unknowingly fall into some unhealthy habits that preserve us from making as a lot cash as attainable. Throughout at present’s episode, we’re uncovering a few of the issues Amazon sellers generally do (or don’t do) that preserve us from being profitable at promoting on Amazon. It is perhaps tempting to maintain making these errors, however these unhealthy habits can simply stunt your development and even trigger you to lose earnings.
Hear at present to listen to our ideas on scheduling, sourcing choices, outsourcing, and extra. You’ll additionally find out about our free five-day workshop on accelerating your earnings via promoting on Amazon and the place to search out it. Thanks for listening!
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We’re going to indicate you…
- Why Amazon is the perfect place to focus your time and vitality to develop a reselling enterprise that brings in a full-time earnings.
- discover limitless stock to promote on Amazon for constant earnings.
- make the perfect stock sourcing choices (what to resell, what to move on, how deep to go on a purchase, how you can replenish your stock, and many others.).
- The complete-time earnings success path and how one can snowball your Amazon earnings.
- flip inconceivable roadblocks into meaningless pace bumps.
- And a lot extra!
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Episode 184 Transcript:
[0:00:01.8] ANNOUNCER: Welcome to The Full-Time FBA Present. In every episode, it’s our aim that will help you flip part-time hours right into a full-time earnings, promoting nearly something on Amazon. Now, your hosts of the present, Stephen and Rebecca Smotherman.
[0:00:21.7] STEPHEN: Welcome to Episode Quantity 184 of The Full-Time FBA present. Right this moment, we’re going to be discussing unhealthy habits of unsuccessful Amazon sellers and to speak via this with me at present for you is somebody I do know who has no unhealthy habits, my spouse, Rebecca.
[0:00:36.3] REBECCA: Oh my phrase.
[0:00:37.0] STEPHEN: Did I rating any factors there?
[0:00:38.4] REBECCA: I don’t know in case you scored factors or inflicting folks to be skeptical of what you’re saying as a result of that doesn’t sound correct.
[0:00:46.3] STEPHEN: All proper, all of us have unhealthy habits, proper? So we’re going to debate those that impression our Amazon enterprise and trigger us to not make as a lot cash as we might if we overcame these unhealthy habits. Let’s get into it on at present’s episode.
[0:01:00.5] REBECCA: Yeah, I believe it’s extra correct to say that all of us have unhealthy habits, together with your deepest beloved one, that you simply assume can do no fallacious. I imply, I don’t know. I believe all of us most likely assume that our family members can do fallacious.
[0:01:12.5] STEPHEN: Completely.
[0:01:13.0] REBECCA: We see their unhealthy habits greater than anyone. So you may be considering of something after we speak about unhealthy habits. One thing could come to thoughts, like scrolling on social media an excessive amount of.
[0:01:21.5] STEPHEN: Responsible, I‘m responsible on that.
[0:01:23.9] REBECCA: Yeah. At occasions, all of us are, we’re consuming too many sweets, that one’s mine, that’s my huge downfall, I’ve a candy tooth. Consuming too late at evening generally is a unhealthy behavior in case you do it too frequently and it messes up your sleep or your digestion or simply the behavior of not doing one thing, skipping love issues that try to be doing.
Not figuring out as usually as it’s best to could possibly be an excellent instance of that and I might go on and on. I don’t must. what all of the issues are. I’m positive in case you’re something like me, once I say unhealthy behavior, one thing involves your thoughts that I don’t must level out for you.
However at present we’re going to be discussing a few of the unhealthy habits that many Amazon sellers may need which are inflicting them to not discover success that they’ve been on the lookout for in relation to promoting on Amazon.
[0:02:08.9] STEPHEN: So the primary behavior we’re going to speak about at present is just sourcing stock in your consolation zones. There’s a quote that’s, in case you preserve doing what you’ve all the time achieved, you’ll preserve getting what you all the time bought.
So clearly, we’re not going to see any change, any development, if we preserve doing issues that we’ve all the time achieved earlier than and luxury zone sourcing is sweet. I imply, that’s why it’s snug. We discovered some success, we will get some consistency and luxury zone, that’s actually good however it’s additionally good to get out of your consolation zone as a result of in case you’re simply supply in your consolation zones then you definitely’re simply going to not have any development together with your sourcing expertise.
So it’s all the time a good suggestion to department out, making an attempt to supply exterior of various classes or completely different shops or different-sized gadgets. There’s individuals who love earning profits on Amazon promoting standard-sized gadgets they usually’re lacking out on outsized gadgets which are worthwhile. We have now a podcast about that, so we’ll put that within the present notes about sourcing oversize and if we don’t, we’ll plan one quickly.
So sourcing in your consolation zone, once more, most occasions if you plan a sourcing outing, you stroll to the locations you’re snug, the place you discovered success. So get out of your consolation zone, when you’re exterior of the consolation zone, that’s the place the magic occurs. So let’s recover from that unhealthy behavior and begin sourcing new locations in new methods.
[0:03:27.9] REBECCA: The second unhealthy behavior that involves thoughts for me isn’t scheduling out your Amazon FBA enterprise actions. There’s a quote that you simply’ve most likely heard from numerous sources, “what doesn’t get scheduled, doesn’t get achieved” and that is tremendous essential.
The extra you get into working your Amazon enterprise and the extra you’ve bought occurring in your life, whether or not it’s one other enterprise that you simply’re a part of or a job that you’ve, or whether or not you might be working a household that you simply’re very concerned in caring for different folks’s actions when you’ve got any sort of caretaker actions, then you definitely’ve bought rather a lot occurring, and so that you’ve bought to get issues scheduled out, and that features your Amazon FBA enterprise actions.
For those who don’t schedule it, you may find yourself placing issues off which are actually essential for your online business, and it could possibly be holding you again so that you simply don’t get the type of development that you simply’re anticipating since you’re simply not planning issues effectively. That is one thing that I’ve actually tried to finetune in my very own enterprise, in my very own schedule during the last a number of months. I type of gotten in a rut of not planning very effectively and I lately began following Sam Laura Brown.
She has a podcast and he or she’s lively on Instagram. Her account is named, The Perfectionism Challenge, and whether or not or not you’re a perfectionist and that causes you issues with getting issues achieved, you actually may gain advantage from a few of the issues that she has to say or any individual else who has a whole lot of details about getting issues achieved and how you can plan.
[0:04:59.5] STEPHEN: The e-book, Getting Issues Achieved, I learn that and it’s actually good. It’s not by her, it’s by one other writer however I simply remembered that as you mentioned that. Getting Issues Achieved is the title of the e-book, it’s actually good.
[0:05:09.2] REBECCA: Yeah, try the e-book, Getting Issues Achieved, after which try Sam Laura Brown, The Perfectionism Challenge. She has Energy Planning is an enormous central a part of what she does, that’s why I even introduced her up is Energy Planning and I’ve began doing her energy hour. I can’t say it the best way she does as a result of she’s bought this actually superior Australian accent the place she says energy hour in a method that I simply can’t duplicate.
However anyway, spending somewhat little bit of time upfront in your week the place you intend out what you’re going to do in your FBA enterprise, the place you place some actions in your calendar and also you guarantee that all people in your family is aware of, “Hey, that is the time I’m going to be working in my enterprise” and that they’ll plan round that and that they’ll respect these plans.
It goes a good distance towards getting extra stuff achieved and towards rising in your Amazon enterprise. In order that’s the second unhealthy behavior that basically stands out to me, that’s one which I’m actually engaged on isn’t scheduling out your FBA actions.
[0:06:00.3] STEPHEN: So take a while at present, get a pen and paper, a calendar or one thing, and schedule out your most essential Amazon actions in order that they get achieved quickly. So unhealthy behavior quantity three, ignoring your Keepa Graphs, and when you’ve got no thought what Keepa is then I’m going to revolutionize your Amazon enterprise as a result of Keepa is a program on-line that tracks nearly each single merchandise on Amazon’s value historical past, gross sales rank historical past, purchase field historical past.
A lot data that may assist you make smarter sourcing choices and you should utilize the merchandise’s historical past to raised predict the way forward for how the gross sales velocity goes to be, what the pricing goes to be as a result of the costs are going up and down on a regular basis. So Keepa Graph is superior and in case you are outsourcing and also you’re not taking a look at a Keepa Graph, then you definitely is perhaps making a mistake that’s going to waste cash in your Amazon enterprise and waste time as a result of it’s a must to take care of repricing or calling a list merchandise again or dropping cash fully on the sale.
There’s a number of other ways issues might go fallacious in case you ignore a Keepa Graph. If you wish to learn to use a Keepa Graph the fitting method, I’ve bought a hyperlink with a free video displaying you how you can type of get began with studying Keepa at fulltimefba.com/readkeepa and I admit, though I even put a complete course collectively on Keepa, typically I can get lazy and never examine Keepa Fraphs after which I see the place issues go fallacious and it bites me within the butt however Keepa might help you and it helps you simply actually keep away from a whole lot of errors and helps you make higher choices in your Amazon enterprise in so some ways extra than simply sourcing and pricing as effectively.
However yeah, for the hyperlink to type of get began with Keepa totally free, fulltimefba.com/readkeepa. So in case you’ve heard about Keepa and also you’ve by no means used it, attempt it out. If about Keepa, preserve taking a look at a Keepa Graph if you supply. It simply takes a couple of additional seconds and might actually assist your sourcing in your Amazon enterprise.
[0:07:51.3] REBECCA: The fourth unhealthy behavior that we’re going to speak about at present is one which I convey up as usually as I can and that’s the unhealthy behavior of doing all the things in your online business all by your self. In the event that they ever make a ingesting sport based mostly on The Full-Time FBA Present Podcast, it could be each time Stephen says Keepa and I say ‘outsourcing’, proper?
[0:08:12.5] STEPHEN: That’s proper, sure.
[0:08:13.5] REBECCA: So if you’re doing all the things by your self and also you’re not outsourcing, you might be setting your self as much as develop a lot slower and presumably even fail and need to stop your online business. It’s an okay technique when you’re simply beginning out to do all the things your self and your online business as a result of you are attempting to find out how the total system works and since you’re restricted in your cash that you could spend on additional bills however it isn’t sustainable if you’d like long-term development.
You must incorporate outsourcing as early as attainable into your online business technique with a purpose to develop. For those who don’t, you’re going to finish up being burned out and there may be simply not going to be the liberty that you could expertise when you’ve got any individual else working with you on your online business. There may be so some ways you’ll be able to outsource, we now have different podcasts and weblog articles on that. We’ll put some hyperlinks within the present notes with the intention to get some concepts of the place to begin.
However simply know that in case you’re far sufficient alongside into your online business and also you’re nonetheless considering, “No, I bought this. I can do all of it myself” that’s a foul behavior that it is advisable step again and take a look at and say, “Is that this one thing that I must work on?”
[0:09:18.0] STEPHEN: Yeah, one factor that Rebecca and I are all the time asking in our Amazon enterprise and in different areas of our life as effectively is, “Is there anybody else who needs to be doing this apart from me?” and there are particular issues. I imply, nearly all the things might be outsourced in your Amazon enterprise, however begin small, begin letting go. We might help you thru it.
So unhealthy behavior quantity 5 is sourcing gadgets with out doing a couple of essential checks. I imply, there are particular occasions after we’re outsourcing, and we simply love the truth that we discovered one thing that has an excellent gross sales rank and it’s worthwhile. We simply put it in our cart and simply preserve transferring on, and we’d miss out on a couple of issues like possibly the merchandise that we discovered isn’t actually in Amazon’s description of latest situation.
Possibly , that’s sealed in actual fact resealed, however there’s some scratches on the field or one of many corners is dinged in. Properly, that doesn’t associate with Amazon’s definition of what new needs to be. New needs to be gift-quality, model new situation, and if one thing is scratched up, that’s not gift-quality. If one thing has a ding within the nook, that’s not present high quality. So examine the situations when you’re sourcing.
One other factor that you may miss out on if you’re sourcing is trying on the Amazon gross sales web page to guarantee that the gadgets that you’re promoting are a precise match. I’ve gotten in bother with this a couple of occasions. I discovered a board sport on sale at Coles I imagine, and I ended up discovering out that though it had the identical UPC, it was like a less expensive model.
So as an alternative of providing this boardgame with a pleasant chrome pewter sort of pawns for the boardgame, the Coles model had a less expensive plastic pawn model of that boardgame, and so, in fact, it was cheaper for me to purchase it at that situation, but when tried to promote it on Amazon with the gross sales web page that had the pewter chrome sort of pawns for the boardgame, that’s not a precise match.
So that you need to guarantee that not simply the UPC matches however the description matches too as a result of you may get in bother with that and get adverse suggestions or somebody would possibly even accuse you of promoting a counterfeit merchandise as a result of it isn’t a precise match, it’s a less expensive model of it. So do your due diligence and guarantee that the gross sales pages match the gadgets that you’re truly sourcing to promote on Amazon.
In order that’s unhealthy behavior quantity 5, sourcing stock gadgets with out doing a couple of essential checks if you’re sourcing and so I need to shut up this episode by letting in case you are a vendor on Amazon or in case you are considering of beginning to be a vendor on Amazon and also you need to both kick these unhealthy habits otherwise you need to be sure you don’t even begin out with these unhealthy habits as a result of there’s so many extra unhealthy habits to keep away from.
And as an alternative, you need to be taught the ins and outs of how you can make a full-time earnings promoting on Amazon, then we need to invite you to a free five-day on-line workshop known as The Amazon Earnings Accelerator Workshop, the place we’re going to stroll you thru how you can realistically make a full-time earnings promoting on Amazon in 2023. The hyperlink to enroll fulltimefba.com/workshop.
[0:12:11.8] REBECCA: On this free on-line workshop, we’re going to indicate you how you can discover probably, limitless sources of stock to promote on Amazon and how you can arrange your Amazon enterprise to earn constant and predictable earnings, that’s enormous. So to get to the purpose the place you’ll be able to promote on Amazon and make a full-time earnings.
We’re going to share the Full-Time FBA success path and how one can realistically snowball your Amazon earnings into that full-time earnings. There’s a lot we will’t wait to share with you within the Amazon Earnings Accelerator Workshop. Once more, the hyperlink to the five-day on-line workshop is, fulltimefba.com/workshop.
[0:12:51.5] REBECCA: Thanks a lot for becoming a member of us for this episode of The Full-Time FBA Present. As a reminder, the present notes for this episode and the transcript and the entire hyperlinks that we’ve talked about might be discovered at fulltimefba.com/184 as a result of that is episode quantity 184.
[0:13:08.1] STEPHEN: And subsequent week on the present, we’re going to be speaking about efficiently promoting on Amazon throughout an financial downturn. We see what’s occurring on this planet and in america and we need to assist you may have the proper of mindset and the fitting methods to efficiently promote on Amazon throughout this financial downturn. We’ll see you subsequent week on The Full-Time FBA Present.
[0:13:31.3] ANNOUNCER: That’s all for this episode of The Full-Time FBA Present. So head over to fulltimefba.com/podcast, the place you will discover the present notes and hyperlinks from this episode. Whilst you’re there, subscribe to our publication the place you’ll get a number of free downloads of our standard and useful Amazon FBA sources. Now, take motion on what you may have discovered at present, so you will discover success at turning part-time hours right into a full-time earnings with Amazon FBA.