How To Turn Tight Budget Into Profit
The exact path to financial freedom with Amazon
This is a part of “How To Make Money With Amazon” series.
It is for everyone who is serious about making money online.
We focus on the quickest and the least risky strategies with a minimum starting budget as possible. You will gain the knowledge that you can put into practice right now, for the money to start working for you instead you working for the money.
The series consists of 6 parts:
Part 1 – Introduction To Amazon FBA
Part 2 – Amazon FBA Retail Arbitrage
Part 3 – Amazon FBA Online Arbitrage
Part 4 – Amazon FBA Wholesale
Part 5 – Amazon FBA Private Label Products
Part 6 – Amazon FBA Seller Evolution
Introduction To Amazon FBA
If you are reading this post, then you are like me want to have your own business to get your freedom back from 9 to 5 job, to get more time to spend with your family and kids.
Maybe you have not decided yet on which online business to choose…
Let me share with you my experience with starting and running an Amazon business and why I think that you should consider it as a contender for your online business adventure.
Before I dive deeper into it I want to ask you one thing. Please, don’t make this information just to be another time-wasting exercise.
I know how it usually is. You read it or watch another video and move to the next ‘exciting’ video, promising you thousands or millions of income. If you do it again and again, you will find yourself in the end with years of wasted time that you will never get back. I know it, as I have been there. I encourage you to pick a method and give it a go and see whether it works for you or not. It is better to do something concrete and fail, rather than do nothing. On my side, I will show you the least risky business model that will at least guarantee you that you will be able to get your original investment back.
OK, let’s dive into it.
The first question that you might be asking is why Amazon retail business and not something else.
I have been around in the ‘Make Money Online’ business for some time now and history repeats itself in this market where the same money-making methods become popular every other year. One year it is all about video marketing, next year about SEO, then Facebook Ads agencies, and so on. The competition in those areas is huge and unless you have a lot of time and/or money to invest, it is difficult to get significant results.
Dealing with retail and physical products has always been on my radar and I like it because you can see and feel those products. You always know the price of it and can estimate your return on it. Most of the online methods are linked with intangible things, like optimization of your videos, and blogs, getting links, etc. You never know whether you will get any results for your efforts.
I chose to try Amazon business because if you do it right, it provides you with predictable results.
Amazon Is The Biggest Online Retail Platform In The World
Amazon has been around for many years and it has been growing like crazy since the beginning. It has grown so much that it has become the biggest online retail platform in the world. You can see on the chart below that it is way ahead of its rivals, like eBay, Walmart, and others.
Everyone Can Trade On Amazon
Another benefit of Amazon is that anyone can register and sell products on their platform.
Did you know that most of the products that are being sold on Amazon are actually sold by the 3rd party sellers, like you and me, and not by Amazon?
Surprisingly, this is the case and it gives an opportunity for anyone to start their Amazon business almost immediately.
Amazon Will Do Everything For You
When you sell on Amazon, you do not need to think about buyers. Amazon has millions of visitors daily. All of them are potential buyers and they come to Amazon with one purpose, which is to buy a product that they need.
Another benefit of the Amazon platform is that it allows you to use their Fulfillment By Amazon (FBA) program if you choose to do so.
With Amazon FBA, you do not have to worry about anything except finding products to re-sell on Amazon. With FBA, Amazon will manage your orders, store your products in their warehouses, pack and ship your products to customers, manage returns and refunds, and most importantly is that they will provide customer support too.
I personally love Amazon FBA because it frees my time and I do not have to hire and manage staff to do all of those things for me.
Amazon FBA Business Strategies
As we have decided to focus on Amazon FBA, let’s now have a look at the most popular strategies to source products to sell.
There are 4 main strategies that you should know about:
- Retail arbitrage
- Online arbitrage
- Your own brand products (Private Label)
All of these strategies are great and have pros & cons. In the next part of this series, I will talk about each of these strategies in more detail, so you will know which one is right for you.
I strongly believe in the organic growth of Amazon FBA business where you move from one step to another once you have mastered the simplest ones:
Let’s dig deeper into each of those steps. I will skip ‘Do Nothing’ phase as this is not an option.
This post is a part of the “How To Make Money With Amazon” series.
To make the most out of it, please read the next post – Part 2 – Amazon FBA Retail Arbitrage