Sep 10, 2018
The definition of insanity is doing something over and over and expecting a different result. So, why do so many Amazon sellers continue to pull their hair out by making the same mistakes while expecting something different to happen?
If you want to grow and improve your Amazon selling experience - and make more money - you need to spend time evaluating what works, what doesn’t work, and where you can improve your process to achieve greater results.
On today’s episode, we’re sharing the top five mistakes we see Amazon sellers make and strategies on how you can avoid these mistakes as you grow your Amazon business. We discuss how giving into your fear of failure hinders your growth, why it’s important to stay focused on one thing at a time instead of falling prey to “shiny object syndrome,” and why knowing and tracking your numbers and profit margins are critical to taking the next steps in achieving your goals. We also discuss why “being married to your inventory” can significantly impact your profitability and why comparing your accomplishments to others is a recipe for disaster.
“Sometimes we get so stuck in what we are doing that we don’t realize we’re doing it.” - Amy Feierman
This week on The Amazon Files:
- Why it is critical to stop fearing failure.
- The importance of evaluating your mistakes - and learning from them.
- What it really means to stay focused in your Amazon business.
- The importance of mastering one thing and avoiding “shiny object syndrome.”
- The importance of setting realistic goals.
- Limiting distractions to help you stay focused on achieving your goals.
- Tracking your progress.
- The importance of knowing your numbers and regularly maintaining your books.
- How “being married to your inventory” impacts your profitability.
- Strategies for checking your product profitability trends.
- What are KPI’s and when you should tweak them?
- The importance of staying in your own lane instead of comparing yourself to others.
- The difference between being inspired by others and comparing your success to theirs.
- The importance of celebrating your accomplishments and getting excited about taking baby steps toward reaching your goals.
- Why specializing in a specific niche can help you grow your Amazon business.
Resources:
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Grow Your Amazon Business!
Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller 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! Use the codeword #STOP to join us on Facebook. Each week we host a live discussion on how to grow your Amazon business. Don’t forget to check out our website for even more resources.