There are people who become millionaires by selling products on Amazon. Others make far less but still have a comfortable living. While Amazon is a great opportunity for the right entrepreneur, it is important to understand some key facts about selling on Amazon. You can’t just throw a picture and title up of your product and expect people to buy it. A lot goes into optimizing Amazon listings that can make or break your success. Selling on Amazon is not for everyone. But it is for many people. It’s easy to get started with Amazon if you know what you’re doing. So here are some questions to help you decide if Amazon selling is right for you.
Do you already know how to sell online, or are you ready to learn?
If you’ve never sold online before, Amazon is a great place to start. However, you still need to learn all the best practices that make Amazon sellers successful. Your job before you ever sell your first product is to learn about SEO and what makes a product popular. You’ll need to understand the kind of customer who would buy what you are selling and how that item solves a problem. Additionally, you’ll want to learn how to get the Amazon Choice badge and other seller perks that can help you stand out.
Do you have a product?
First, you need to have a product or service. This is the most important thing to consider when deciding if Amazon is right for you. If your business does not have a product yet, then there’s no point in trying to sell on Amazon. Whether you make your own product or have it created by a manufacturer, is irrelevant. You need products to sell.
There are many ways of discovering what products might be right for you. If you have a passion for cooking, you might want to sell toxin-free cookware. If you love the outdoors, your shop might focus on offering products for the adventurer at heart.
Is there a need for your product?
Just because you like something, doesn’t mean there is a high demand for it. The biggest mistake that sellers make is not doing the proper research to determine if there is a market for their product or service. Your product must fill a need, and be unique enough or better than the alternative. It’s also important to differentiate your product from similar products on Amazon so that you can stand out from the crowd.
Are you OK with making little or no income for the first few months?
Selling on Amazon isn’t like selling your couch on Facebook Marketplace. If you’re looking to make money instantly, Amazon selling may not be the right choice for you. It takes time to build your business, even using Amazon. This might mean that for the first few months, you don’t make anything from your sales. But with time, a good listing, and some honest good reviews, you can start to gain traction and earn an income from selling on Amazon.
How do you feel about competition?
Can you handle competition and the fact that Amazon will have other sellers offering the same products as you? This is a scary question for many new Amazon sellers. Being a new fish in a massive pond means that without the right best practices being applied to your listings, you could get lost in a sea of similar products. Will you be able to identify and differentiate yourself from your competitors? You may not know the answer to that yet, but being willing to try means that you just might make it.
Can you thrive in a profit-loss situation?
Amazon selling is a business, and you need to be prepared to accept that there will be times when you have a loss. If you’re not prepared for that reality, then you probably don’t want an Amazon business or any business at all. Many people start their Amazon business small buy selling one item at a time and then reinvesting what they earn into new products.
Do you have a business plan?
Even Amazon sellers should have a business plan. You should have a plan that includes how you plan to make money, how much the products you want to resell cost, how much profit you expect, and how you will market your products to consumers.