Do you feel like Amazon FBA could transform your life but don’t know how to start? Look no further! Here we breakdown how to easily avoid frustration with these 5 Amazon FBA tips.
No more relying solely on your day job. With Amazon FBA you can have it all, enjoying extra flexibility and profit.
Read more to see how you can do it.
FBA Tip 1: Be aware of rushing into Amazon FBA
It is exciting when first starting your Amazon FBA business. But before you jump into buying deals hold on a second. Learning the basics is incredibly important especially with Amazon FBA as there are processes you will need to get your head around and fully understand.
You do not want to risk investing in a deal only to realise later on the pricing has changed. Grappling with what makes a good deal profitable is key and will help you develop your business.
View Amazon FBA as a long term business and make sure you have an understanding of how Amazon FBA works. Google and Youtube really are your new best friends when it comes to this.
FBA Tip 2: Avoid getting into a pricing war
You will have seen the BuyBox on Amazon. This is the box on all listings on Amazon which you can use to buy an item.
We explain this in more detail in our previous blog post here.
When you win the Buybox buyers will be purchasing your items when pressing the buy now button. You can win the Buybox by providing the most competitive and cheap prices. However be careful, by providing the most competitive pricing it can sometimes be a race to the bottom.
Rather than dropping your pricing try to match the competition. This will mean that you can both share the Buybox, and the sales. If you know what the other sellers stock levels are you can wait until they sell their stock and then you will be the main seller.
FBA Tip 3:Do not be afraid to make mistakes.
When starting your FBA business it can take time to grapple with the different moving parts. As mentioned previously, it is important not to rush into buying an item which may not be profitable.
However everyone is human and you could make a mistake. Of course you do not want to make mistakes however if you do it’s not the end of the world. By making a mistake you have an opportunity to learn and better understand FBA.
By analysing how and why you have made a mistake you can better understand how to avoid it in the future. And strengthen your business in the process.
If you ever want a hand with anything you can also check out our other blog posts here.
FBA Tip 4: Persistence is key
Amazon FBA is a brilliant opportunity to create another stream of income. But it is important to know that it is not a get-rich quick scheme.
Remaining persistent is a key aspect of growing your Amazon FBA business. Understanding that Amazon FBA is a business which will take time to develop will be useful in the long term, allowing you to appreciate the larger perspective.
Like any business the power of compounding is incredibly beneficial. It is useful to have goals and continue to invest in stock to grow your business.
Having a clear goal is place and an awareness of the progress you are making is a great way to stay motivated. It will also help you to recognise where you are in relation to reaching your goals.
FBA Tip 5: Join a community
Being part of a larger community is a great way to talk with likeminded people and avoid potential mistakes. As a member of a community you can turn to others to provide support and motivation when you experience issues.
We hope you have found these tips useful and feel ready to kickstart your Amazon FBA business. You have the potential to create an amazing business with Amazon FBA and with these tips you will be one step ahead!