Initial Boo-Boos Cost Me A Few Weeks
When I initially applied to sell my products on Amazon, I made about *THE* stupidest error you can *POSSIBLY* make.
I, and I am not joking, misspelled MY OWN NAME!
So, my name and my ID didn’t match….obviously….I had to make a change and a few days later they approved that portion of the process.
Then, my next mistake came to bite me and this one took a WHILE to get sorted out. I used my PO BOX address as my address of record for the Amazon application.
This was a HUGE mistake because I don’t have any of my utility bills going to the PO BOX.
There is a help area in the seller central portal of Amazon where you provide your phone number and they will call you pretty quickly to help you out. It took about 3 of these phone calls and resubmitting the same paperwork over and over, but I was FINALLY approved to sell on AMAZON!
I was trying to remain optimistic the whole time, but I wouldn’t be honest if I said I was CONFIDENT this was ever going to get approved. I was planning a future without Amazon. And that was OK! I was doing pretty good on Ebay and with local flip options. But, I was REALLY interested in being able to utilize the “Fulfillment By Amazon” capabilities.
So, when I was approved. I was excited and ready to rock!
Amazon Day #1
Unfortunately, I wasn’t fully prepped to use the convenience of FBA just yet. So I listed an item I would ship myself.
( If you don’t know, Amazon FBA is where you send your stuff TO AMAZON and then THEY ship it out to the buyer when it’s purchased. More/Less)
I had about 15 of a particular item I have been selling well locally for about 100/120 bucks. This was a 50/60 dollar profit per item. But, with local flips EVERYBODY wants to play “Let’s Make a Deal”. I am NOT in to that at all. I just wanna make the sale and move on the next one!
I go and cancel all of my LOCAL FLIP entries and apply all of my inventory to my Amazon listing. I move the price all the way up to $170! Within an hour I had sold TWO of the items. Within 24 hours I had sold SEVEN of the items. ( TEN sold as of this writing, but no math changes below! 😉 )
- $170 * 7 = $1190 (Sales)
- $50*7 = $350 (Cost of Items)
- $25*7 = $175 (Fees)
- $20*7 = $140 (Shipping)
- Total Profit —-> $525.00
That’s $525 for basically:
- Joining Products For Profit
- Going to Walmart
- Buying Items
- Putting Items on Amazon
- Shipping Items
- Popping Bottles…wait..I don’t do that anymore…REINVESTING PROFITS!
There was some WORK in there for me to get everything squared away with Amazon, but this is a $525.00 profit day on Day #1 and I did NOTHING, but update an inventory screen and have my son go ship these items out in the afternoon! Not including taxes, that’s about $65.00 per hour if that’s how you like to look at things!
Ramping Up for MORE MORE MORE
Now that I have a few Amazon sales under my belt it’s time to take full advantage of the AMAZON FBA system.
I can NOT recommend this book enough if you are looking to become a seller on Amazon. It *IS* an affiliate link, but I make like five cents per sale. It’s just easier for me to share it this way.
This book is a ROAD MAP to YOUR SUCCESS!
Thanks to this book, I have built a decent inventory and have learned *SO MUCH* about available tools that help me locate and evaluate items to acquire for current or future sales.
You will NEVER regret purchasing this book.
The author, Greg Webb AKA @TOYFOLIO is also involved in the “Products For Profit” group and serves up TIMELY and ACTIONABLE information via the weekly webinars.
If Willy Wonka made toys instead of candy, I would think his real name was GREG WEBB!!
You better give him a follow if you want to earn cash online!!
Greg also has an EXCELLENT course on GUMROAD to help you get ROLLING!
It is quite a collection of videos that will MOTIVATE and EDUCATE you in the ways of the Master Arbitrager!
If you are looking to sell on Amazon, stick to it if it doesn’t get approved immediately. Don’t be a dummy like me, ensure you SPELL YOUR NAME CORRECTLY.
Check out Greg’s Twitter page for awesome tips.
Join Products for Profit to discover the products that are really moving and earning $$$$ for the group. Coach Joe Hart ( @CoachJoeHart ) has built an excellent community for sharing ideas from sourcing, to shipping, to dealing with, *ahem*, difficult customers! 😉
There are SO MANY resources out there to set you on the path to an impressive stream of secondary ( or primary ) income. If you are THINKING ABOUT IT…STOP THINKING ABOUT IT AND JUST DO IT:
Affiliate Links *ARE* Included Above!