I think one of the biggest questions people have when starting an Amazon business would be – How to pick the perfect product? It was absolutely my biggest question in this business. Perfect product may not really exist but, you can pick BETTER products.
The problem is it you won’t truly find out which product is perfect until after you begin to sell it. You can do all the upfront market research and pick better products but ultimately time will tell if it is the perfect product. I wills ay that I had a hard time picking my product when I began this business.
The very first product I chose was a crappy metal coffee mug. This product was absolutely terrible. It was extremely thin with absolutely zero insulation. Unfortunately I ordered far to many and lost some money on Amazon in the process. Also, my label was TERRIBLE. It would come off after one wash in the sink!
So, needless to say I made a massive mistake at the beginning of my business. The very next product I tried was in a completely different niche. I tried to break into the baby accessories area. If you’ve been in the game for even a month you might notice that this niche is extremely saturated.
I picked baby bandana bibs. Also, I did not private label them so, I didn’t stick out at all from my competition. Also, I used stock photos instead of my own. I tried desperately to save a dollar which ended up crushing this business as well. At the end of the day I was forced to liquidate and I tried again.
In the process of creating two massive failures, I learned the entire process of Amazon Fulfillment. When I try to explain it to my friends and family it really just sounds so easy. The problem is, the entire business is very complex. It takes time and energy like anything else in this world.
The cool part about this though is the online business is expanding every year. After you pick a perfect product you can sit back and watch it sell. Of course you have to optimize pay per click and all of your other advertising streams. After this though the sales roll in and you can set you phone to a nice DING sound.
Amazon FBA has to be one of the best passive income streams available. Now I use the word passive income loosely. Keep in mind no business really is passive. I could recommend some real estate businesses that are ALMOST passive however, that is not really the case with anything. You have to put in upfront work and risk.
Amazon FBA can be terrific. I promise you. Pick the perfect product for your business. Preferably pick a niche you enjoy so that down the road you will have fun with it. I have chosen multiple businesses that either I love or my wife loves. That way we can tag team this entire business and then pass it off to our children one day.
Remember those who act succeed. Those who sit around watching TV, movies, and wasting their time will look back at their life, wishing they would have done what you are about to do. Sell massive amounts of products online during the online revolution we are living through.
Check out my course on Udemy for some free info!
Much love to you all,
Ben Hedley (YouTube)
Empire Minds (Community)