Manage episode 186846469 series 63692
(click to tweet)
More and more of the world takes place online, and Amazon is leading the world in ecommerce. Did you know that Amazon is actually a huge opportunity for you to make money online?
Today, we’re digging into how to create passive income online through selling on Amazon. If you’re looking for practical, step-by-step instructions on how to make passive income online, this episode will give you exactly that.
Try it out, and let me know how you do with it!Get influencers to promote your Amazon products
(click to tweet)Points to Keep In Mind
- Three criteria for what you want to sell on Amazon
- Does it already sell well?
- Can I compete?
- Are the margins there?
- Look for a product that is selling well, but not getting a crazy number of reviews
- Start at a low price point, from $15-$50, to learn the system, before getting into more expensive products
- Don’t mess with anything that you can’t 5X your money on the gross income
- The world is moving more and more toward buying everything online, so Amazon and ecommerce will only grow
- Use Alibaba to find “benchmark pricing”
- Amazon looks for sales spikes, to help them know which items to rank best
- Make sure that anything you sell that you put in or on your body, is made in the US
- Get influencers to promote your Amazon products
- Focus on initial sales velocity when you’re just starting out with a new product on Amazon
- Amazon is one of the lowest-risk ways to get into business
- Anyone selling needs to learn how to be ethically persuasive without being manipulative
- The psychology of selling on Amazon is almost as important as the logistics
- Video reviews are very important and helpful on Amazon
- If an idea is too easy to steal, it’s probably not a great idea
- Seeing progress in your own life is the best inspiration
- Think things through as if you are the general of your own bank account
- Whenever you want to get into a new market, spend some solid time researching, and then start testing
- Your first job as an entrepreneur is to prove that there is traction for your idea
385 episodes available. A new episode about every day averaging 33 mins duration .