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The Amazon Files, hosted by Kristin Ostrander, Amazon business strategist and one of the 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.

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How to Make Your First $1,000 on Amazon

Jan 14, 2019

Everyone wants to make more money. And for some people, their new year’s resolution is to start a new business. They want to break free from the 9-5, work-‘til-you’re-exhausted corporate world and earn more money while spending more time with their families. Although an Amazon business is not a get rich quick scheme, some people make their first $1,000 in the first week. It is a big step to take, but even if you don’t have 40 hours a week and thousands of dollars to invest, you can start a successful Amazon business.

 

Today, we share how to make your first $1,000 on Amazon and what you need to know to get started. We discuss what your financial and time contributions should be and how to find the right balance between the two. We share our views on how to organize your time and raise money to start your Amazon journey as well as why you should set up a legitimate business and the steps you will need to take to get your first shipment sent to Amazon. We also discuss product categories, seller techniques, and free tools that will help you to make better decisions based on data.

 

“It’s not ‘get rich quick.’ It’s ‘get rich smart.’ And ‘get rich smart’ takes time, energy, effort, and money.” - Kristin Ostrander

  

This week on the Amazon Files:

 

  • How to plan and budget time and money for your Amazon business.
  • Why consistency is crucial.
  • How to decide how much money you need to invest in education, inventory, tools, and materials.
  • How new Amazon sellers can find an hour a day through 15-minute hustles to build the foundation of their business.
  • How new Amazon sellers can earn money to start their business.
  • How to start a legit business, get an Employer Identification Number (EIN), and obtain a resellers license so that you can buy materials from wholesalers.
  • The steps involved in sending in your first shipment to Amazon.
  • Where to find products and when to move from Retail Arbitrage to wholesale bundling.
  • Categories to get started in and how to get started with books on Amazon.
  • Why you should use data to make your seller decisions.
  • What is drop shipping?
  • What black hat tactics are and why you need to avoid them.
  • How to find mentorship, and learn about the right way to be an Amazon seller.
  • When you need to consider getting liability insurance.

  

Resources:

 

 

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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 Todayto start your exciting Amazon journey.

 

 

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along with 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 First One Thousandto 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 websiteand subscribe to our mailing listfor even more resources.