Are You a Long Term Amazon Seller?
ARE YOU A LONG TERM AMAZON SELLER?
We all like to think that we are in this for the long run right? I know that I sure thought I was at the beginning. I had plenty of cash and lots of energy! At some point in my Amazon Seller career I started to lose my way. After some soul searching and re-adjustment my selling account is back on track. Was it hard??? Yep, you bet it was. Was it worth it??? I’m working on it, but over the long term it will reap the benefits.
#1 – I Have a DREAM!
We all start out with a few goals in mind. Pay off your student loan, Pay off your mortgage, Quit your brutal 9-5 and spend more time at home with your family. What is missing at the beginning, at least for me was a solid business plan with timeline requirements to keep you on track. How do you know you are in this gig for the long term? You take 2 hours to sit, be introspective, and write out your plans. Is it a 12 month plan? Maybe it is a 2 year plan. The length doesn’t matter. What matters is that you put it in writing and you work towards that goal. You would be surprised to know how many have not undertaken this most basic, and time efficient task. Click to Dive in Deeper
#2 – I Looked Outside of the Box
When starting out it is easy to think that when you listen to your coursework, podcasts and youtube video’s, that there is a straight and narrow path to success. Set-up company (Check); Find awesome product (Check); Get super inexpensive product from China (Check); Sell awesome product like crazy (………). For those that have done this for any length of time you know that there are many hurdles along the way. What says you are not just a fly by night seller? Many new sellers will give up on an issue because they think the problem is “Just too big”. Either they turn the problem off, hope it will go away with time, or just do what the Amazon masters state in a cookie cutter email. This has been known to work and in some cases is the best course of action, but how do you really know? A long term Amazon Seller will schedule time to dig into the problem a little deeper. Is there a way to mitigate the issue? Can I solve this issue over time, saving 3% net profit over doing the obvious and getting it done right away? Do I have to fire my VA or can I give them a job more fitting of their skills? The outcome of the brainstorming isn’t important. A long term seller realizes that there are many facets to an issue and dedicates time to see all the facets. Click to See More
#3 – I Took Small Steps
At the beginning it can seem that the problems are HUGE! You know what? You are probably right, they are huge! Newer sellers will look at a job that they don’t even know is huge and tackle it head on. They don’t think to break it up into smaller bite size pieces. This causes untold problems when you run into your next issue in the line and have to go back. I can’t tell you how many times this has happened to me. I thought I could save 20 minutes and ended up causing myself 1 hour of rework. Why? Well I felt overwhelmed and thought I had to do it all to get the job done. A seller that is trying to be sustainable realizes that even the largest jobs need to be broken down into its base parts. The benefits are they know that a lot of issues can be solved by not getting frustrated and realizing that the issue won’t be solved today. It is going to take 3 days but they have a plan. A seller in it for the long term doesn’t say “This issue is HUGE” they say “This issue will take 3 days to solve”. See How You Can Accomplish This
#4 – I Don’t Have Enough Time
This sounds cliché, but you need a schedule. At the start it can seem like there isn’t enough time in the day to get it all done. Entrepreneurs who do all of their online selling from their homes, can tend to forget that they have Actual…. Real…. Meaningful…. Lives to live. Have you taken on a project that you were not familiar with and it ended up taking 10 hours instead of the 4 hours you planned? Goodness knows it happens all the time. A long term seller knows that they have to have a schedule. Is that project going to wait until tomorrow when I am fresh? Will I lose out on valuable sales if I don’t get that product page tweaked? Know that you have a life, your time is not worth $10/hr so if you are working late to get that extra $5 then you are doing you and your family a disservice. Click to See How You can Manage Your Time More Effectively
#5 – I Set My Worth
Have you ever sat down and looked at what you are really worth? A good and simple example may look like this…… I worked 5 hours yesterday and made $200.00 in profit. So per hour I am worth $200.00/24 hours = $8.33/hr x 5 = $41.65. Is this what you expected? A seller looking at maintaining their business over time knows that the 5 hours could have been delegated out to a VA. If you believe that your time is more valuable and that a $50.00/hr worth is a reasonable number, then you actually are making $50.00 – $8.33/hr = $41.67/hr profit by delegating. Know your worth. Set a dollar value. Find Out What Your Worth Here
#6 – I Delegated Work to Multiply Profit
As in the simple example in #5 above, it is easy to see that delegating even 30% of your workload can make you lots of money. Those that want to make a simple buck would never dream of delegating their time. “Who has time to delegate!” they will say. Well if you are in it short term then micromanaging and the DIY attitude are going to be your bread and butter. A long term seller is brutally aware of their worth. They realize that taking the time to do the job themselves would be better served by spending those hours “Managing” a group of VA’s. The more VA time the more profit. You need to focus on the 20% of work that makes you 80% of your profit! Click to Find Out VA Hiring Techniques
#7 – I am Devoted to Making My Customers Happy
Now this one should seem obvious. Those looking for a quick buck put out terrible products with no customer support. Is this a true statement though? Do you actually know what will make your customer happy? Long term sellers do! They also know the cost associated with keeping their customers happy. This task cannot be delegated. You as an owner need to set time aside to research what makes your customer tick. Sellers in it to win it know that this is an ongoing process and that it is what makes your business tick. What is that 2 star review going to look like 6 months from now? Is it cost effective to chance ignoring it? How to Find What Makes Your Customer Click
#8 – I Went Outside of My Comfort Zone
So many times you see sellers on Amazon only. It’s comfortable, semi-safe and fairly profitable. There is no thought of growth outside of Amazon. Tradeshow…. Why would I do that? Website…. Amazon doesn’t let me link so it isn’t worth it. Advertising video…. Too pricy and I really don’t know how to get it out there. Long term Amazon sellers know that from day one they should be looking to outside sources. Amazon is a fickle beast and truly could give two shits about you or your company. Today you are making 2k a day, and tomorrow…. Zippo! It’s not like a job where you are given some chances to work out your issues. Amazon doesn’t play by your rules. To last you need to diversify. You need to go places your competitors refuse to go. See the Benefits of Jumping in the Deep End
#9 – I Took a Variety of Chances to Partake in FREE Structured Learning
Do you have to know everything? Nope. Should you know the basis of your business and know that you don’t actually know certain parts of it? Darn rights you should. How many of you have actually taken the time to go look at the health and beauty requirements (This could be any group requirements you are in) prior to sending in your product to FBA? Heck, how many of you took the time to check prior to putting in your supplier order? So many times you see sellers surprised that a certain product is restricted. Many didn’t even know the darn category required authorized acceptance. Now, this is all FREE information and given out by the source. Whether it is directly Amazon learning or taking the time to understand the basics of what makes SEO tick, Long termers understand the need to schedule time in their day to learn something. How to Effectively Learn Online
#10 – I Truly Worked on Being Sustainable
It is so easy to take the easy path. Blast to the top! Get reviews by the bucket load! Many new sellers get sucked into the blast service monopoly. It’s like crack. You hit go and BLAM! Page 1 and 100 reviews. While there is a chance that this is a great way to get your product seen right off the bat, A serious Amazon Seller realizes that this has no value over the long term. Amazon removes these reviews daily. Heck I had 4 removed today. IT IS NOT SUSTAINABLE! What is sustainable? The above points give you a good platform to jump from. If you want in this gig to win and build, then you need to Have the dream; Look outside the box; Take small steps; Schedule your time; Know what your time is worth; Learn to delegate; Put your customers first; Leave your comfort zone and Keep learning! How To be a Long Term Seller "CLICK HERE"
You are in control. You can be in it for the long term!