TAS 177 : 5 FBA Rookie Mistakes and How To Avoid Them

There are so many people who are eager to get into Amazon Private Label sales, and they should because it’s a great platform to build a viable business that can support and even transform your lifestyle. But there are a handful of common mistakes that newbies to Amazon FBA make again and again. On this episode of the podcast Scott Voelker covers the top 5 rookie mistakes that trip up new sellers.

Product research can be frustrating, but don’t give up.

Perhaps the most difficult part of selling products on Amazon is finding the product in the first place. The product research phase is very difficult because there are so many variables and so many possibilities. What most rookies do when doing product research is work at it for a couple of days and then give up because it is so frustrating but that is the worst thing you could do. On this episode Scott’s going to teach you how to push through the product research base to make sure that you find that product that is going to set you up for Amazon selling success.

You can’t forget about the depth of your potential market.

It's great to find a product that seems like it's going to be a winner on Amazon FBA. But if you don't take into consideration the depth of the market you're trying to enter, you could be setting yourself up for a terrible loss. On this episode Scott once again covers the issue of depth of market, and give you some tips to help you understand what you need to look for, why you need to watch out for those things, and how to maximize your chances of setting up a product that will be successful.

If you misunderstand your profit margins on Amazon FBA, you’ll be sorry.

It's easy to hear all the success stories about Amazon FBA sales and think that you can do that too. And you can. The problem is that many people don't recognize that the figures they hear from success stories don't typically reveal the costs involved in the research, packaging, shipping, and fees related with feeling that product on Amazon. The end result is you may have an unrealistic idea of what the actual profit margins for a product are. On this episode of the podcast, Scott is going to point out some of the things you need to consider when calculating profit margins so that you can know and accurate estimate of what your profits will be.

Don’t be fooled by seasonal products.

You may find a product to sell on Amazon that appears to be a wonderful opportunity. But always take into consideration whether or not that product and its related products are seasonal in nature. Seasonal products are great for a very short time but throughout the year don't provide the consistent income that you really want to achieve an Amazon private label sales. On this episode Scott is going to give you some things to watch out for when considering the possibility of selling products that are seasonal in nature.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER [0:25] Scott’s introduction to the podcast! [1:34] A shout-out to a TAS community member. [3:11] How you can get in on one of Scott’s live workshops. [4:04] Why giving up during product research is a huge mistake. [14:30] If you forget about the depth of your market, you’re going to blow it. [18:30] The pain of misunderstanding profit margins. [24:26] Be sure to pay attention to issue of seasonal gifts. [29:17] There’s a strong tendency to overthink and over complicate.

www.TheAmazingSeller.com/workshop - get in on the free workshop BOOK: The Compound Effect Get Jungle Scout: www.TheAmazingSeller.com/JS (affliate link) www.TheAmazingSeller.com/165 - Going back to basics episode www.TheAmazingSeller.com/156 & www.TheAmazingSeller.com/161 - episodes on depth of market. www.GoogleTrends.com www.CamelCamelCamel.com www.TheAmazingSeller.com/162 - a “hot seat” episode dealing with seasonality. www.TaxJar.com www.TheAmazingSeller.com/101 - My updated launch plan.