Amazon Sellers' Biggest Mistake
Many Amazon sellers try to hit the ground running, but like everything else, they need to learn how to walk before they can run.
New sellers often focus on trying to find a killer "million-dollar' product as their first product, however that is not reasonable nor realistic.
Many sellers will think they have found that "million-dollar" product and then invest all their capital into inventory for that one product.
This common mistake can be detrimental to an Amazon seller and their business.
What if you make a mistake on that first purchase order? What if you order too much inventory? What if you create the wrong shipping plan?
Then the seller is left with excess inventory sitting in an Amazon warehouse and no more capital for their business.
It is more realistic to find a product that brings in a 10-25% return on investment, buy a reasonable amount of inventory for that product, and then go through the entire process of turning over the inventory.
Then in their next purchase order, the seller can invest more capital by either scaling up the inventory of the first product or adding a second product to their portfolio.
This approach creates a more natural growth progression for the Amazon business.
It helps sellers avoid making costly mistakes early on in the process of building their business.
Tim Hellbusch emphasizes how important it is to take small deliberate steps when starting to sell on Amazon.
It takes time to grow and scale a successful Amazon business.
ALGO Online Retail has seen its students go from $1,000 in sales per month to $5,000 and eventually to five-figures in sales per month.
That is because ALGO teaches a time tested proven business model and supports their students ever step of the way.
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