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The Amazon Files, hosted by Kristin Ostrander and Amy Feierman Amazon business strategists and founders of Mommy Income, hits the airwaves every Tuesday with the real truth about selling on Amazon. This show isn’t about sugar-coated reality. It’s real truth - the good, the bad and the ugly - shared with practical action steps and strategies to help both new and experienced sellers tackle the world’s largest retail sales platform.

Aug 13, 2018

Starting an Amazon business can be exciting, but as with many new and exciting things, the honeymoon period eventually comes to an end. Your excitement soon turns into fear and uncertainty, and you begin to run into the same pitfalls and issues that many people do when they are starting out. But, by learning from the mistakes of those who are further along on their journey, you can avoid the bumps and stay on the path to success.

On today’s episode, we break down our top 5 dos and don’ts for Amazon beginners and bonus tips specifically for retail arbitrage. We discuss the importance of following Amazon’s policies to avoid suspension and how to properly process and ship your inventory. We also explain why you need to avoid shiny object syndrome and how to stay focused on your business as well as eight great tips specifically for making your retail arbitrage process more efficient and profitable.

 

“Learning is part of being new to business, but do not get stuck in the learning phase.” - Amy Feierman

 

 

This week on The Amazon Files:

  • Why you must familiarize yourself with Amazon’s policies and the seller agreement.
  • How to protect your inventory for shipping.
  • The importance of following the rules when trying to be approved for a category.
  • Why you should sacrifice an inventory item to photograph it for your listings.
  • How a Scanfob can make you more efficient when sourcing inventory.
  • The benefits of signing up for store emails and rewards.
  • Tips for buying and selling in the grocery category.
  • How to build good relationships with store managers and stock people.
  • Why you should be careful with big box retail clearance.
  • The importance of having a scanning plan and sourcing guidelines.
  • Why you should not buy product just to meet a minimum.
  • Tools that can help you know your numbers better.
  • Why you should never talk to other sellers about how to price items.
  • How to set goals for yourself and stop comparing your business to someone else’s.
  • The importance of staying focused and avoiding shiny object syndrome.
  • How to judge the condition of your item.
  • The benefits of having an accountability partner.

 

 

Top 5 Dos for Beginners:

  1. Always read the Terms of Service.
  2. Prepare your items correctly.
  3. Make sure you are selling your product in the proper category.
  4. Take the time, effort, and energy to properly photograph and remove the background from your images.
  5. Take your business slow.

 

 

Top 5 Don’ts for Beginners:

  1. Do not try to find loopholes.
  2. Do not talk to other sellers about how to price your items.
  3. Do not compare your business to someone else’s.
  4. Avoid shiny object syndrome.
  5. Do not underestimate the condition of your item.
  6. Bonus: Do not do this alone.

Resources Mentioned:

 

 

 

Buy Inventory Without Losing Money

 

Are you afraid of losing money when you purchase inventory? With our Smart Sourcing Guide, you can learn how to make the best buying decisions that reduce your risk and help you get the best ROI possible. Learn our step-by-step process for sourcing products the right way! Download your Smart Sourcing Guide at MommyIncome.com/smart.

 

Get Ready for Q4 with Our Webinar!

Are you overwhelmed by the thought of preparing for Q4? We can help you decide what to sell and how much inventory you need to buy ahead of the holiday rush! Imagine a Q4 where you don’t run out of inventory, and you get to enjoy the holidays with your loved ones. You can access the webinar until the end of August at MommyIncome.com/Q4.

 

Book an Amazon Business Strategy Session with Us Today!

Are you struggling to find solutions to your business challenges or looking for help figuring out the next action step you should take to grow your Amazon business? We’re here to help! Schedule a one-hour Strategy Session with us to get the help you need to gain clarity on what needs to change and decide on action steps to move your Amazon business forward!

Book now at MommyIncome.com/coaching

 

Jumpstart Your Amazon Business Today!

Are you ready to jumpstart your Amazon business but don’t know how? We can guide you step by step through easy-to-understand video instructions for your Amazon business must-haves. We’ve got everything you need in one place -- from setting up your Amazon account to shipping your items to Amazon fulfillment centers. Go to Start FBA Today to start your exciting Amazon journey.

 

Discover the Ease & Simplicity of the Wholesale Bundling System

 

Don’t know where to start in your wholesale bundling Amazon business? We teach a lot of different strategies for searching wholesale bundles and creating your own unique bundles. Learn the A to Z of Amazon wholesale bundling through Mommy Income’s Wholesale Bundle System. Visit MommyIncome.com/wholesalebundle for more information.

 

Got Questions?

Shoot your questions on our Facebook Group! We’ll be happy to answer your questions, listen to your vents, and encourage you to carry on in the right direction. Join our community where you can interact with sellers of all levels -- from people who are starting their Amazon journey to those who have been full-time sellers for years. Go to MommyIncome.com/joinus with the code word TOP5 to start interacting with our community.

 

Grow Your Amazon Business!

Thanks for tuning in to this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with your hosts and Amazon experts, Amy Feierman and Kristin Ostrander. If you enjoyed this episode, head over to iTunes, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Visit us on Facebook each week for a live discussion on how to grow your Amazon business and check out our website and subscribe to our YouTube channel for even more resources.