Dec 6, 2021
On this week’s episode, I’m talking about Fulfilled by Amazon (FBA) and why everybody’s quitting it. While this might look like bad news on the face of it, another perspective is that your competition’s walking away so it’s actually opening a door to grow your business. Today, I’ll take you through the pros, the cons, and the potential benefits of this trend, so that you can turn it into an opportunity for success.
To start things off, I’ll share with you some data demonstrating that joining Amazon is easy, but developing a long-term, sustainable business takes care and effort, with the majority of new sellers quitting before they ever get that far. To ensure that you don’t become one of those sellers, through the rest of the episode I look at eight reasons why people walk away from Amazon—including not understanding the rules, not allowing yourself time to learn, and not having a solid motivation—so that you know what to avoid when developing your business. Finally, I’ll wrap things up with a reminder that there are still seats available for the workshop in January, and some advice to commit to your business and put in the kind of consistent effort that gets results.
You can always learn more about Amazon FBA by joining our Facebook group with today’s codeword BYE, where you can learn more about bundling, ask questions, and participate in the conversation with other sellers. And if you’re ready to take your business to a whole new level, visit MommyIncome.com/Coach to schedule your one-on-one coaching call today.
This week on the Amazon Files:
- People walking away from Amazon can be an opportunity to be capitalized upon
- Some data about Amazon and new sellers
- Reason #1 why people quit Amazon: not understanding the rules
- Reason #2: focussing on the negative
- Reason #3: not finding profitable products to sell
- Reason #4: not knowing their numbers well enough
- Reason #5: giving up too soon instead of giving themselves time to learn and develop
- Reason #6: lacking a driving reason to motivate them
- Reason #7: starting with Merchant Fulfilled and nott making the switch to FBA
- Reason #8: underestimating the workload of an online business
- There are still some spots available for the workshop in January
“Don’t quit because you gave in when it was hard, because the next thing you do is going to be hard too. Choose your hard.”
- Kristin Ostrander
Quotes:
“If your competition gets up and walks away from the game, you can double your business, right?”
“Learn the dang rules, read research, ask questions.”
“Excuses aren’t deposits. Excuses cannot be deposited into your bank account.”
“Don’t focus on what you can’t do. You’re shooting yourself in the foot before you even start if you’re focusing on all the things that you can’t sell.”
“If you can’t find profitable inventory to sell on Amazon, you haven’t put the work in.”
“If this was easy, every single person would sell on Amazon and make millions, and we’d all live happily ever after, the end. But the reality is it takes a little bit of work.”
“Your numbers are the difference between a hobby and a business. A hobby is something that costs you money. A business is something that makes you money.”
“The first place to start is doing some research - calculated, intentional, consistent research. That’s how you bring products to the marketplace.”
“Building a legitimate, sustainable business is going to take time. It’s not a get-rich-quick income thing. If you’re trying to make your rent this month, you don’t need a business, you need a job.”
“It’s not just another job you’re building, you’re building a business and a legacy.”
“The people I see have the most success are the people that take the most consistent action, not big steps.”
“Your reason needs to be so motivating that no one has to tell you to go sit down and do some research.”
“What is your reason? What is your ‘why’? Because that is what’s going to keep you going during hard times.”
Related Content:
- 2022 Workshops - Coupon code: workshop50
- Wholesale Bundle System
- Email questions
- Learn With Us
- Coaching
- The Amazon Files Hub
- Marketplace Pulse
Grow Your Amazon Business!
Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, 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 BYE to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.