2 Main Reasons Why Newbies Fail With Amazon Wholesale
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  • Writer's pictureALGO™ Team

2 Main Reasons Why Newbies Fail With Amazon Wholesale




The business models we teach (sometimes referred to as "wholesale") is such a simple business model but some people still struggle with it.


We've worked with thousands of business owners and have identified 2 main reasons why people new to the business fail with Amazon.



Reason #1: They Give Up Too Easily When Looking For Suppliers


Finding quality suppliers is one of the most critical parts of building an Amazon business. There are thousands of suppliers all over the US that are perfect for your Amazon business but there are also thousands that are not.


Often, you need to go through 100 bad suppliers to find 1 good one! Many newbies give up after speaking with 3 or 4 bad suppliers.


Like Mark Cuban says; "EVERY NO GETS ME CLOSER TO A YES."


Reason #2: They Are Too Greedy/Impatient


You can make 10-100% monthly ROI (Return On Investment) with your Amazon business and that's what makes it such a great investment. Many new business owners skip good products that can make a 10% ROI because they want to make a 100% ROI.


Maybe they want a 100% ROI because they're nervous about their first product and want a cushion. Maybe they want to make a lot of money quickly. Whatever the reason, chasing big ROIs early is a big reason why new business owners fail with Amazon.


When you're new to a supplier, the supplier will usually not give you their best pricing. Getting best pricing requires time and building a relationship. If you can place a profitable (10% ROI) order with a new supplier, do it! Placing orders is how you build a relationship and work toward better pricing and higher ROI.


You should also be skeptical of suppliers offering 100% ROI products to new customers as they're often too good to be true.


"Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible." - Francis of Assisi


Want to learn exactly how to Start and Scale your Amazon business the right way? Our team will be hosting a FREE online workshop within the next 7 days!




 

Do you need to meet more suppliers? We will be hosting a Summit at ASD Market Week, one of the largest supplier trade shows in the world, this July! Our team will show you advance business building strategies, help you build a personalized business growth plan, and walk the trade show floor with you to help you build supplier relationships. Learn more here: http://learn.algo-retail.com/summit



 

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