7 Hard Truths About Amazon After Speaking to 50+ Amazon Sellers

After speaking to over 50 Amazon Sellers,  one on one, on massive action, personal strategy session phone calls, Kev has come down to 7 hard truths, which may apply to you in your business, if you are an Amazon Seller. 

Kev has spoken to people who have quit their jobs, who are at £20,000 - £30,000 per month and 6-figure sellers.

After speaking to 50 people, over 10 hours of one on one and really understanding where people are and what is holding them back and what their biggest challenges have been and what they are currently, Kev now has at least 7 hard truths, which he really would like to share with you.

Awareness of Challenges and Bottlenecks We Have Building the Business

The awareness of your bottlenecks is so important. Kev has spoken to people who aren’t even aware of their own bottlenecks, they don’t even know what their challenge is.

Kev has summarised this to 5 different bottlenecks, which can really help you out; you are going to have difficulty in one of these areas:

1. Time

You have got no time, and there are not enough hours in the day to do everything that you want to do. You are possibly working a full-time job, have a family and you are doing everything that you possibly can, then you try and build a business and you find yourself not having enough time. You are trying to sleep, trying to work your full-time job, be with your family and friends, and to have days off from work. No time is a bottleneck - be aware that time is a bottleneck for you, because there are solutions to each of these bottlenecks.

2. money

Capital, capital, capital! Ultimately, Kev has conversations with people asking when they are going to get to £10,000 profit a month, and saying that they want this net profit and that net profit, asking how much money do I need and how much do I need that.

The truth is that this is subjective, it is subjective to all of us. It cannot just be a clear cut fundamental rule, because there are so many different factors that play into it.

When it comes to capital, it all comes down ultimately to savings, the money you have available, the credit you have available, the people you have available, and how resourceful you are.

3. Space

The truth is that space is a bottleneck. When Kev was working from home, space was a really big issue, with having a family and things being everywhere on the floor.

When things get like this and you find yourself not having much room at all, maybe it is about time to start moving forward, whether that is expanding into a warehouse or finding a prep centre.

4. Products

Products are clearly a bottleneck. A lot of people who Kev has spoken to have talked about sourcing; what is the best way of sourcing, how do you source, how do you find these products.

5. Strategy 

The truth is, if you don’t know, you don’t know. This is why Kev does these calls, because experience is so much different compared to theory. There are a lot of people out there, who can speak a good theory, but not have the practical experience. 

In the practical experience, you really learn all the little, fine details. 

If you would like to speak to us on a personal business strategy zoom call, then please visit: https://lifesuccessengineer.mykajabi.com/strategy-session

Mitch, our business development manager, would be more than happy to help you achieve your goals.

Be Aware That There is a Right Sequence of Events and Actions That Need to Be Taken

When you are building your business, you have got different steps and different pieces of a puzzle. If you want to have your ultimate vision right now, you would have your 7-figure business and you have all your team members in place, you are successful, you have the freedom and the money. It’s a puzzle to get here. 

The truth is, if you don’t know what the right sequence of events are for your current circumstance, for the resources that you have, the capital and the time, if you don’t know the right sequence of events, then you will get lost. This comes back down to the experience v.s theory. If you are listening to someone just in theory, who talks a good talk, but they haven’t actually built the business, then they can say anything to you, and if you are gullible, this won’t be good. You have got to really investigate a little bit further to actually know who it is you are listening to. 

Sourcing Strategies 

There is a lot involved when it comes to sourcing. And in Kev’s opinion, there is a right sequence of events when it comes to sourcing, too. There are different services and availability out there, from sourcing lists to automated sourcing, to virtual assistants. Who do you listen to? Do you do it manually? Yourself? There are so many different ways and strategies when it comes to sourcing, and the truth is, some of them, in any way of sourcing, there are pros and cons to each of them, and there are levels to go through.

So, although it might sound amazing that you are getting an automated software, or you are getting these deals presented to you, you have to be careful in the way that it is presented to you and what is actually involved in you actually building your business, sourcing profitable products. 

Are You Sourcing Your Products in the Right Way?

Without the experience of processing products at scale - creating baskets, reviewing, purchasing, placing the orders and getting them out in the warehouse, then you will know that some services make it more difficult to purchase some products more than others. You may have scenarios where you don’t have enough products to fill a basket and it is costing you money to get delivery and many more other scenarios when it comes to sourcing. So, when it comes to sourcing, Kev recommends that you look for sourcing lists which give you a list of products in one go. Which will give you a chance to create a basket and fill it to order some products for your business. Automated sourcing is much more advanced and it takes a lot of processing and hard work.

Are you Stepping Back and Working on Your Business?

There are so many people who are overwhelming themselves with so many different tasks. Take a moment to breathe. 

This is what has been so great about these strategy calls Kev has been doing, because, taking that moment to breathe, we are able to identify very easy things, where people are able to go to the next level. Strategic actions which you can take now, this all comes with the experience which Kev has got, because Kev can reflect on where he was, and share with you the right path that you need to take, and possibly the things you may need to implement to be just as successful.

Are you Willing to Put in the Massive Action?

There is no magic button or magic pill - it is going to take a lot of hard work and time to really get the business to work, when it comes to sourcing, purchasing and shipping. You can speed up the process depending on what resources you have available to you and the right sequence of events, but you have to complete the machine - the machine is sourcing, purchasing and shipping. If you can do all three of these, without you in the machine, this is really great. However, a lot of people are getting two of the three cogs and now you are the glue in the middle and you are struggling. 

You are struggling to get over that hump, because you did not get that complete machine, you have got to get that final piece in there with that senior assistant.

Have you Got the Patience and Stamina?

People want the money now, but the truth is, you have got to keep snowballing the business. Just because someone says that they have made £100,000 pounds in 30 days, it’s all about the profit, and what they are making. There are a lot of people who are not aware of the infantry health or the infantry period, of when they should actually get rid of the products, they don’t have systems in place for replenishing or infantry health, and this comes from actually getting your hands dirty and understanding how to build the business.

Further Reading: 

https://www.systemisefulfilment.co.uk/blog/10-Reasons-to-Outsource-Your-Amazon-FBA-Prep-as-Quickly-as-Possible 

https://www.systemisefulfilment.co.uk/blog/7-things-successful-amazon-sellers-do

https://www.systemisefulfilment.co.uk/blog/why-you-should-start-an-amazon-business-today