I’ve heard a lot of complaints lately about the Amazon world becoming saturated and the opportunities to make money within it becoming diminished, with people getting worried that Amazon may no longer be a viable business option. If you’re in that camp, wondering if Amazon’s still right for you, today’s episode will help you navigate that question, get clear on your goals, and guide you through three simple steps to grow your business. First up, I tackle whether it’s still possible to make a decent salary at home with Amazon, the answer to which is yes. In fact, with the rise of mobile commerce (m-commerce), the opportunities to make money on Amazon are growing—the only difference between taking advantage of them or not is how much time, money, commitment, and action you’re willing to put in. I then discuss the importance of figuring out what you want for yourself and getting clear on what you want from your business. It’s easy to get stuck by our fears and avoid moving because we’re scared to make mistakes, so I emphasize focusing on the next logical step to get what you want instead of getting overwhelmed trying to leap over a cavern of black holes.
To help you make that next move, I next present three simple steps you can take to grow your business, steps that helped me in my journey to making six figures on Amazon. The first step is based on my observation that no one successful does everything by themselves: hire some help. This can be intimidating, but I discuss how we’re all familiar with hiring people and point out that hiring help doesn’t have to be as expensive as you assume, plus it will bring huge dividends in the long run, both in time and money. Step number two is looking at your numbers to figure out what needs to change—because there’s always something that needs to change. This is something people tend to make excuses about—they don’t have time to look at their numbers, they’ve got too many other things to do—but if you don’t know your numbers, you’ll never know all the ways you can reduce expenses, increase margins, increase your ROI, and so on. I advise that being intentional about ensuring you’re making the most money you possibly can out of the work you’re doing and avoiding waste are crucial parts of what business owners do, so get rid of the excuses and make time for it. And finally, the third step is investing in yourself and your business through education. If you want to make more money, one of the major things you can do is learn a new skill that gives you a new expertise and will level you up. Therefore, I recommend figuring out what new skill would give you the potential to earn more money in your business and investing time and money into achieving it.
You can find plenty more advice on the Amazon FBA world in the Amazon Files and Mommy Income community. You can join our Facebook group with today’s codeword now to learn more about bundling, ask questions, and participate in the conversation with other sellers. And if you’re ready to take your business to a whole new level, visit MommyIncome.com/Coach to schedule your one-on-one coaching call today.
This week on the Amazon Files:
“You deserve it, you can want it, you can have it, even if it seems so far away from where you are right now. There’s an opportunity for people to earn millions of dollars from their homes in 2022.”
- Kristin Ostrander
“Can I make a decent salary at home with Amazon, like all these other people are saying that they’re doing? The answer is yes. The answer is absolutely, yes, you can do that. And it is still a viable opportunity. As a matter of fact, there are people who started after me that have surpassed me already.”
“The new normal is buying everything online, even groceries, even prescriptions, even everything. Like, if you did not want to go to a brick and mortar store ever again, I believe almost everything that you could possibly want to purchase, you can have either delivered, or you can order online.”
“The opportunities are not decreasing, they’re increasing. And the only difference between you growing and someone else growing is the time, money, effort, and energy, and action that you’re taking. Time, money, commitment, and action.”
“I know that the opportunities are increasing, but eventually, there will be a plateau. Eventually, there will be a time where we missed the boat. The boat came by several times, and we didn’t get on it. Or if we got on it, we jumped off of it because we weren’t sure if it was going to be headed in the direction that we were going.”
“Eventually, you’ve got to get clear about what you want and how it’s not dependent on anyone else.”
“Our brains are wired to have this protection mechanism called fear. And fear hinders us from taking the next step, or it shows us the big, huge steps. And we’re like, oh, we don’t know what that is. But really, the next step, not the tenth or thirteenth step.”
“These are steps that I’ve personally taken that have been game-changers. Game-changers going from $2,000 a month to $5,000 a month in your pocket.”
“Being productive and making progress is totally different. We can be busy and actually be doing absolutely nothing.”
“One of the things I’ve seen is that no one that’s successful does it by themselves. So if you’re currently listening right now, and you don’t have anyone working for you or working with you, or subcontracted or freelancing or a warehouse or something, that is one of the first moves that you need to make. Stop doing everything yourself, and stop assuming that it’s going to be too expensive for you to hire help.”
“No successful business person does all of the things all of the time. Trust me, I’ve tried. I ran myself into the ground, burned myself almost out, and almost quit everything at one point because I’m like, I’m so successful, I’m making so much money, but I don’t have time to enjoy any of my life.”
“The picture I’m trying to paint for you is that when you make an investment, it takes some time and a learning curve to try to get that out, whether it’s a time investment, money investment, whatever that is, but then it pays dividends down the road.”
“There’s always something that needs to change. There’s always something that you can look at and say, ‘Am I making the right margins on this?’ or looking at your numbers more closely. Setting aside the time, this is what people don’t do. They don’t set aside the time.”
“If you are doing something right now, and you want to make more money, one of the major things that you can do is learn a new skill that gives you a level of expertise or a level of something that will level you up.”
“You have to decide that you and your goals and your business is worth it and then invest in that. Sometimes that investment is product. Sometimes it’s service. Sometimes it’s coaching, sometimes it’s mentorship, sometimes it’s education, sometimes it’s hiring help, or a product or a service that will literally make you faster, more efficient, or smarter to be able to take care of it.”
“I’m not here saying I run a one-man show, and I’m really proud of that, and I work eighty hours a week. No, that is not what I want and need in my business. So what do you want and need in your business?”
Grow Your Amazon Business!
Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show, and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword now to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.