Are you looking to turn a profit from your Amazon business? We hope so!
Running a business comes with ups and downs both big and small. Downs are inevitable BUT there are things you can do to prevent many of them.
Whether you’re new to retail arbitrage or have been doing it for years, making mistakes is par for the course. And while making mistakes is often how we learn and grow as entrepreneurs - it often comes at an expensive cost. Some mistakes can even be detrimental to the success of your business.
Today, we share the retail arbitrage mistakes you should avoid while building your Amazon FBA business. We highlight the most common errors many new Amazon sellers make and share the data points that you should consider when deciding to buy a product. We also discuss why you shouldn’t fall into the habit of buying with your heart instead of looking at the facts, share the tools that can bring you greater success, and offer clarity on when is the right time to move from retail arbitrage into wholesale bundles.
“The number one retail arbitrage mistake is only focusing on sales rank when it comes to deciding to buy a product.” - Kristin Ostrander
This week on the Amazon Files:
Mommy Income Question of the Week:
Amazon FBA Mistakes to Avoid / Wholesale Edition
Common RA mistakes:
Purchasing products off of BOLO lists:
Buying Top branded highly counterfeit claim items:
Cherry picking what to scan:
Not looking for replenishable items:
Want to Learn More?
Buy Inventory Without Losing Money
Are you afraid of losing money when you purchase inventory? With our Smart Sourcing Guide, you can learn how to make the best buying decisions that reduce your risk and help you get the best ROI possible. Learn our step-by-step process for sourcing products the right way! Download your Smart Sourcing Guide at https://www.mommyIncome.com/smart
Jumpstart Your Amazon Business Today!
Are you ready to jumpstart your Amazon business but don’t know how? We can guide you step by step through easy-to-understand video instructions for your Amazon business must-haves. We’ve got everything you need in one place -- from setting up your Amazon account to shipping your items to Amazon fulfillment centers. Go to https://www.startFBAtoday.com to start your exciting Amazon journey.
Discover the Ease & Simplicity of the Wholesale Bundling System
Don’t know where to start in your wholesale bundling Amazon business? We teach a lot of different strategies for searching wholesale bundles and creating your own unique bundles. Learn the A to Z of Amazon wholesale bundling through Mommy Income’s Wholesale Bundle System. Visit https://www.mommyIncome.com/system for more information.
Shoot your questions on our Facebook Group! We’ll be happy to answer your questions, listen to your vents, and encourage you to carry on in the right direction. Join our community where you can interact with sellers of all levels -- from people who are starting their Amazon journey to those who have been full-time sellers for years. Go to https://www.mommyIncome.com/joinus with the code word from this show to start interacting with our community.
Grow Your Amazon Business!
Thanks for tuning in to this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with your hosts and Amazon experts, Amy Feierman and Kristin Ostrander. Don’t forget to share your favorite episodes with your friends on social media!