As Amazon sellers, it may be fairly straightforward to unknowingly fall into some unhealthy habits that hold us from making as a lot cash as potential. Throughout in the present day’s episode, we’re uncovering among the issues Amazon sellers generally do (or don’t do)that hold us from being profitable at promoting on Amazon. It is likely to be tempting to maintain making these errors, however these unhealthy habits can simply stunt your progress and even trigger you to lose income.
Pay attention in the present day to listen to our ideas on scheduling, sourcing choices, outsourcing, and extra. You’ll additionally find out about our free five-day workshop on accelerating your earnings via promoting on Amazon and the place to search out it. Thanks for listening!
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- Why Amazon is one of the best place to focus your time and vitality to develop a reselling enterprise that brings in a full-time earnings.
- Learn how to discover limitless stock to promote on Amazon for constant income.
- Learn how to make one of the best stock sourcing choices (what to resell, what to go on, how deep to go on a purchase, the right way to replenish your stock, and so forth.).
- The complete-time earnings success path and how one can snowball your Amazon income.
- Learn how to flip not possible roadblocks into meaningless pace bumps.
- And a lot extra!
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Episode 184 Transcript:
[0:00:01.8] ANNOUNCER: Welcome to The Full-Time FBA Present. In every episode, it’s our objective that can assist you flip part-time hours right into a full-time earnings, promoting nearly something on Amazon. Now, your hosts of the present, Stephen and Rebecca Smotherman.
[0:00:21.7] STEPHEN: Welcome to Episode Quantity 184 of The Full-Time FBA present. At the moment, we’re going to be discussing unhealthy habits of unsuccessful Amazon sellers and to speak via this with me in the present day for you is somebody I do know who has no unhealthy habits, my spouse, Rebecca.
[0:00:36.3] REBECCA: Oh my phrase.
[0:00:37.0] STEPHEN: Did I rating any factors there?
[0:00:38.4] REBECCA: I don’t know in case you scored factors or inflicting folks to be skeptical of what you’re saying as a result of that doesn’t sound correct.
[0:00:46.3] STEPHEN: All proper, all of us have unhealthy habits, proper? So we’re going to debate those that impression our Amazon enterprise and trigger us to not make as a lot cash as we might if we overcame these unhealthy habits. Let’s get into it on in the present day’s episode.
[0:01:00.5] REBECCA: Yeah, I feel it’s extra correct to say that all of us have unhealthy habits, together with your deepest beloved one, that you just suppose can do no fallacious. I imply, I don’t know. I feel all of us in all probability suppose that our family members can do fallacious.
[0:01:12.5] STEPHEN: Completely.
[0:01:13.0] REBECCA: We see their unhealthy habits greater than anyone. So you might be pondering of something once we discuss unhealthy habits. One thing could come to thoughts, like scrolling on social media an excessive amount of.
[0:01:21.5] STEPHEN: Responsible, I‘m responsible on that.
[0:01:23.9] REBECCA: Yeah. At occasions, all of us are, we’re consuming too many sweets, that one’s mine, that’s my massive downfall, I’ve a candy tooth. Consuming too late at evening could be a unhealthy behavior in case you do it too commonly and it messes up your sleep or your digestion or simply the behavior of not doing one thing, skipping love issues that you already know you need to be doing.
Not figuring out as usually as you must may very well be a great instance of that and I might go on and on. I don’t must. You already know what all of the issues are. I’m certain in case you’re something like me, after I say unhealthy behavior, one thing involves your thoughts that I don’t must level out for you.
However in the present day we’re going to be discussing among the unhealthy habits that many Amazon sellers may need which are inflicting them to not discover success that they’ve been on the lookout for relating to promoting on Amazon.
[0:02:08.9] STEPHEN: So the primary behavior we’re going to speak about in the present day is simply sourcing stock in your consolation zones. There’s a quote that’s, in case you hold doing what you’ve all the time accomplished, you’ll hold getting what you all the time obtained.
So clearly, we’re not going to see any change, any progress, if we hold doing issues that we’ve all the time accomplished earlier than and luxury zone sourcing is nice. I imply, that’s why it’s comfy. We discovered some success, we will get some consistency and luxury zone, that’s actually good but it surely’s additionally good to get out of your consolation zone as a result of in case you’re simply supply in your consolation zones you then’re simply going to not have any progress together with your sourcing abilities.
So it’s all the time a good suggestion to department out, attempting to supply exterior of various classes or completely different shops or different-sized gadgets. There’s individuals who love earning profits on Amazon promoting standard-sized gadgets and so they’re lacking out on outsized gadgets which are worthwhile. We now have a podcast about that, so we’ll put that within the present notes about sourcing oversize and if we don’t, we’ll plan one quickly.
So sourcing in your consolation zone, once more, most occasions whenever you plan a sourcing outing, you stroll to the locations you’re comfy, the place you discovered success. So get out of your consolation zone, when you’re exterior of the consolation zone, that’s the place the magic occurs. So let’s recover from that unhealthy behavior and begin sourcing new locations in new methods.
[0:03:27.9] REBECCA: The second unhealthy behavior that involves thoughts for me just isn’t scheduling out your Amazon FBA enterprise actions. There’s a quote that you just’ve in all probability heard from numerous sources, “what doesn’t get scheduled, doesn’t get accomplished” and that is tremendous essential.
The extra you get into working your Amazon enterprise and the extra you’ve obtained occurring in your life, whether or not it’s one other enterprise that you just’re a part of or a job that you’ve got, or whether or not you might be working a household that you just’re very concerned in taking good care of different folks’s actions when you’ve got any kind of caretaker actions, you then’ve obtained quite a bit occurring, and so that you’ve obtained to get issues scheduled out, and that features your Amazon FBA enterprise actions.
In case you don’t schedule it, you might find yourself placing issues off which are actually essential for your corporation, and it may very well be holding you again so that you just don’t get the form of progress that you just’re anticipating since you’re simply not planning issues properly. That is one thing that I’ve actually tried to finetune in my very own enterprise, in my very own schedule over the past a number of months. I form of gotten in a rut of not planning very properly and I just lately began following Sam Laura Brown.
She has a podcast and he or she’s energetic on Instagram. Her account is known as, The Perfectionism Venture, and whether or not or not you’re a perfectionist and that causes you issues with getting issues accomplished, you actually may gain advantage from among the issues that she has to say or any person else who has quite a lot of details about getting issues accomplished and the right way to plan.
[0:04:59.5] STEPHEN: The e book, Getting Issues Completed, I learn that and it’s actually good. It’s not by her, it’s by one other creator however I simply remembered that as you stated that. Getting Issues Completed is the title of the e book, it’s actually good.
[0:05:09.2] REBECCA: Yeah, try the e book, Getting Issues Completed, after which try Sam Laura Brown, The Perfectionism Venture. She has Energy Planning is a giant central a part of what she does, that’s why I even introduced her up is Energy Planning and I’ve began doing her energy hour. I can’t say it the best way she does as a result of she’s obtained this actually superior Australian accent the place she says energy hour in a method that I simply can’t duplicate.
However anyway, spending a little bit little bit of time upfront in your week the place you propose out what you’re going to do in your FBA enterprise, the place you set some actions in your calendar and also you be sure that all people in your family is aware of, “Hey, that is the time I’m going to be working in my enterprise” and that they’ll plan round that and that they’ll respect these plans.
It goes a great distance towards getting extra stuff accomplished and towards rising in your Amazon enterprise. In order that’s the second unhealthy behavior that actually stands out to me, that’s one which I’m actually engaged on just isn’t scheduling out your FBA actions.
[0:06:00.3] STEPHEN: So take a while in the present day, get a pen and paper, a calendar or one thing, and schedule out your most essential Amazon actions in order that they get accomplished quickly. So unhealthy behavior quantity three, ignoring your Keepa Graphs, and when you’ve got no thought what Keepa is then I’m going to revolutionize your Amazon enterprise as a result of Keepa is a program on-line that tracks nearly each single merchandise on Amazon’s value historical past, gross sales rank historical past, purchase field historical past.
A lot data that may provide help to make smarter sourcing choices and you should utilize the merchandise’s historical past to raised predict the way forward for how the gross sales velocity goes to be, what the pricing goes to be as a result of the costs are going up and down on a regular basis. So Keepa Graph is superior and if you’re outsourcing and also you’re not a Keepa Graph, you then is likely to be making a mistake that’s going to waste cash in your Amazon enterprise and waste time as a result of it’s important to cope with repricing or calling a listing merchandise again or shedding cash fully on the sale.
There’s a number of other ways issues might go fallacious in case you ignore a Keepa Graph. If you wish to learn to use a Keepa Graph the suitable method, I’ve obtained a hyperlink with a free video exhibiting you the right way to form of get began with studying Keepa at fulltimefba.com/readkeepa and I admit, though I even put a complete course collectively on Keepa, generally I can get lazy and never verify Keepa Fraphs after which I see the place issues go fallacious and it bites me within the butt however Keepa may help you and it helps you simply actually keep away from quite a lot of errors and helps you make higher choices in your Amazon enterprise in so some ways extra than simply sourcing and pricing as properly.
However yeah, for the hyperlink to form of get began with Keepa at no cost, fulltimefba.com/readkeepa. So in case you’ve heard about Keepa and also you’ve by no means used it, attempt it out. If you already know about Keepa, hold a Keepa Graph whenever you supply. It simply takes a number of additional seconds and may actually assist your sourcing in your Amazon enterprise.
[0:07:51.3] REBECCA: The fourth unhealthy behavior that we’re going to speak about in the present day is one which I deliver up as usually as I can and that’s the unhealthy behavior of doing every part in your corporation all by your self. In the event that they ever make a consuming recreation based mostly on The Full-Time FBA Present Podcast, it could be each time Stephen says Keepa and I say ‘outsourcing’, proper?
[0:08:12.5] STEPHEN: That’s proper, sure.
[0:08:13.5] REBECCA: So whenever you’re doing every part by your self and also you’re not outsourcing, you might be setting your self as much as develop a lot slower and presumably even fail and wish to give up your corporation. It’s an okay technique when you’re simply beginning out to do every part your self and your corporation as a result of you are attempting to find out how the complete system works and since you’re restricted in your cash that you could spend on additional bills however it isn’t sustainable if you would like long-term progress.
You must incorporate outsourcing as early as potential into your corporation technique in an effort to develop. In case you don’t, you’re going to finish up being burned out and there’s simply not going to be the liberty that you could expertise when you’ve got any person else working with you on your corporation. There’s so some ways you’ll be able to outsource, we now have different podcasts and weblog articles on that. We’ll put some hyperlinks within the present notes in an effort to get some concepts of the place to start out.
However simply know that in case you’re far sufficient alongside into your corporation and also you’re nonetheless pondering, “No, I obtained this. I can do all of it myself” that’s a foul behavior that you want to step again and have a look at and say, “Is that this one thing that I must work on?”
[0:09:18.0] STEPHEN: Yeah, one factor that Rebecca and I are all the time asking in our Amazon enterprise and in different areas of our life as properly is, “Is there anybody else who ought to be doing this apart from me?” and there are specific issues. I imply, nearly every part will be outsourced in your Amazon enterprise, however begin small, begin letting go. We may help you thru it.
So unhealthy behavior quantity 5 is sourcing gadgets with out doing a number of essential checks. I imply, there are specific occasions once we’re outsourcing, and we simply love the truth that we discovered one thing that has a great gross sales rank and it’s worthwhile. We simply put it in our cart and simply hold transferring on, and we’d miss out on a number of issues like perhaps the merchandise that we discovered just isn’t actually in Amazon’s description of recent situation.
Possibly you already know, that’s sealed actually resealed, however there’s some scratches on the field or one of many corners is dinged in. Properly, that doesn’t associate with Amazon’s definition of what new ought to be. New ought to be gift-quality, model new situation, and if one thing is scratched up, that’s not gift-quality. If one thing has a ding within the nook, that’s not present high quality. So verify the situations when you’re sourcing.
One other factor that you might miss out on whenever you’re sourcing is trying on the Amazon gross sales web page to be sure that the gadgets that you’re promoting are a precise match. I’ve gotten in hassle with this a number of occasions. I discovered a board recreation on sale at Coles I consider, and I ended up discovering out that though it had the identical UPC, it was like a less expensive model.
So as a substitute of providing this boardgame with a pleasant chrome pewter kind of pawns for the boardgame, the Coles model had a less expensive plastic pawn model of that boardgame, and so, after all, it was cheaper for me to purchase it at that situation, but when tried to promote it on Amazon with the gross sales web page that had the pewter chrome kind of pawns for the boardgame, that’s not a precise match.
So that you wish to be sure that not simply the UPC matches however the description matches too as a result of you will get in hassle with that and get unfavorable suggestions or somebody may even accuse you of promoting a counterfeit merchandise as a result of it isn’t a precise match, it’s a less expensive model of it. So do your due diligence and be sure that the gross sales pages match the gadgets that you’re truly sourcing to promote on Amazon.
In order that’s unhealthy behavior quantity 5, sourcing stock gadgets with out doing a number of essential checks whenever you’re sourcing and so I wish to shut up this episode by letting you already know if you’re a vendor on Amazon or if you’re pondering of beginning to be a vendor on Amazon and also you wish to both kick these unhealthy habits otherwise you wish to be sure you don’t even begin out with these unhealthy habits as a result of there’s so many extra unhealthy habits to keep away from.
And as a substitute, you wish to be taught the ins and outs of the right way to make a full-time earnings promoting on Amazon, then we wish to invite you to a free five-day on-line workshop known as The Amazon Earnings Accelerator Workshop, the place we’re going to stroll you thru the right way to realistically make a full-time earnings promoting on Amazon in 2023. The hyperlink to enroll fulltimefba.com/workshop.
[0:12:11.8] REBECCA: On this free on-line workshop, we’re going to point out you the right way to discover doubtlessly, limitless sources of stock to promote on Amazon and the right way to arrange your Amazon enterprise to earn constant and predictable income, that’s enormous. So as to get to the purpose the place you’ll be able to promote on Amazon and make a full-time earnings.
We’re going to share the Full-Time FBA success path and how one can realistically snowball your Amazon income into that full-time earnings. There’s a lot we will’t wait to share with you within the Amazon Earnings Accelerator Workshop. Once more, the hyperlink to the five-day on-line workshop is, fulltimefba.com/workshop.
[0:12:51.5] REBECCA: Thanks a lot for becoming a member of us for this episode of The Full-Time FBA Present. As a reminder, the present notes for this episode and the transcript and all the hyperlinks that we’ve talked about will be discovered at fulltimefba.com/184 as a result of that is episode quantity 184.
[0:13:08.1] STEPHEN: And subsequent week on the present, we’re going to be speaking about efficiently promoting on Amazon throughout an financial downturn. We see what’s occurring on this planet and in america and we wish to assist you’ve the correct of mindset and the suitable methods to efficiently promote on Amazon throughout this financial downturn. We’ll see you subsequent week on The Full-Time FBA Present.
[0:13:31.3] ANNOUNCER: That’s all for this episode of The Full-Time FBA Present. So head over to fulltimefba.com/podcast, the place you can see the present notes and hyperlinks from this episode. When you’re there, subscribe to our publication the place you’ll get a number of free downloads of our well-liked and useful Amazon FBA assets. Now, take motion on what you’ve realized in the present day, so yow will discover success at turning part-time hours right into a full-time earnings with Amazon FBA.