Most of you know that Ryan got his start by learning how to sell on Amazon. Since that time he’s branched out into all sorts of more complicated and nuanced business tactics. But emails continue to be received by the Freedom Fast Lane team asking for specifics about how to get started selling on Amazon like Ryan did. So, he thought it would be helpful to give you some clear, free advice on how to make that process happen. This episode is that – your 101 course on how to start selling on Amazon and set yourself up to branch out from there. Ryan doesn’t skip anything in this step-by-step tutorial so if you’re interested in the Amazon private label model, this is your episode.
Don’t ask what product you should sell on Amazon. Ask what business you should be in.
When you first get started doing product research it’s easy to get yourself into a wrong way of thinking. You start to think only in terms of potentially profitable products – but you can’t do that and expect to be successful over the long-term. Think about what business you want to be in, not what products you can sell. If your approach is not bigger than a product, you’ll lose enthusiasm and run out of steam when it comes to sales – simply because you don’t really HAVE anything bigger to offer the customers you are serving. On this episode, Ryan walks you through why this mindset shift is so vital and how you can take steps to ensure you approach things correctly – so be sure you listen.
Don’t consider Amazon sales to be your business. Look at Amazon as a launching point.
The reason selling on Amazon is so effective at building a customer base quickly is because Amazon has already done the hard work of gathering an avid group of consumers. You get to tap into that resource in order to sell your products to ready buyers. That fact makes it easy to think that Amazon is all you need. But you have to remember that you’re playing on someone else’s playground. Amazon can change their guidelines at any time and you will be the one who is hurt. Ryan addresses how you should use Amazon to get started on this episode – so that you can build something bigger that can last longer and serve more people in the long run.
Why you don’t want to sell on Amazon in a niche that is brand-driven.
When doing product research it’s easy to get excited when you find a product type that’s selling bazillions of units per day. But you have to be careful if you want to make the wisest choice. If the niche you’re considering is brand-driven – for example, headphone sales are dominated by the big brands like Beats and Bose – then you probably want to steer clear. Most people don’t have a chance of beating out competition like that simply because they have the budget to outspend you in order to stay on top. Find out how Ryan suggests you do product research the right way, on this episode.
Find an audience of ready buyers so you can have a successful launch.
Once you’ve done your product research and have found your supplier, there will come a point when your order is placed and products are being created and shipped. That span of time is what Ryan calls “the hump.” You could spend that time sitting around, impatiently waiting for your products to arrive – but Ryan suggests you make the best use of those weeks between product order and product delivery by finding and connecting with an audience of ready buyers for your product. There are many ways and places online you can do this – so don’t waste the opportunity to make your Amazon product launch more successful by priming the pump. Ryan tells you how he’s typically done that, on this episode.
Outline Of This Great Episode
- [0:31] Ryan’s introduction to this “getting started” episode about Amazon sales.
- [2:40] Two points to understand that will put you far ahead of everyone else.
- [4:40] The “getting started” steps to take at first.
- [6:54] The things to look at to see if a good product or niche idea is really a good idea.
- [8:00] Criteria that you should consider when looking for the “perfect” product.
- [10:39] Getting your product made and how to think about customization.
- [15:20] Getting over the hump: Prepping for product launch while you wait on products.
- [18:41] Taking a step back: Get your product setup on Amazon.
- [22:15] Taking costs into consideration – you need around $5,000.
- [25:10] It sounds incredibly simple, which is the beauty and frustration of this business model.
- [29:50] The reasons it is a long-term game to sell on Amazon.
Action Steps From This Episode
FOR GETTING STARTED: Get your thinking straight. You need to be thinking about what business you want to be in, not what product you can sell. If it’s not bigger than a product, you’ll lose enthusiasm and you’ll run out of steam when it comes to sales.
FOR GREATER SUCCESS: During the “hump” after you’ve got your product ordered and are waiting for it to arrive, make the most of your time by finding and connecting with an audience of ready buyers for your product. There are many ways and places online you can do this – so don’t waste the opportunity to make your Amazon product launch more successful by priming the pump.
Resources Mentioned On This Episode
- Episode with Sean Coyne Ryan mentioned – Step by Step to Six Figures on Amazon
- Ryan’s YouTube video – 12 months to $1 million on Amazon
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