How to Make Your First Sale On Amazon FBA

One of the most life-changing experiences which you could have in your life is generating your first income online. What this does for you in your life is it gives you a sense of possibility. What could this do for your life?

So, in this blog post, I want to share with you how you can get your first sale on Amazon FBA.

Getting Your First Sale on Amazon FBA

The first step is ultimately deicing which business model you are going to be focusing on first. There are many different business models on Amazon FBA, and the complexity and difficulty, and the capital requirements to start vary depending on which business model you decide to focus on. You could be someone who is selling as a hobby, as a side income to earn a little more cash, or you could be selling as part of a professional multi-million pounds or dollars revenue business. The landscape on Amazon is that vast.. You have got to decide which business model you would like to start. These business models can go from arbitrage-based models, where you are taking advantage of pricing differences of one marketplace to another. There is retail arbitrage and online arbitrage. These are incredibly beginner-friendly business models, which allow you to sell a product which you have sourced at another marketplace, and you have made it available on Amazon.

For example, you may go into a retail store physically, and you start scanning different products to see what price they are actually selling on Amazon. Or you're going onto online stores, you are going onto different websites, you are going on the different sections - the clearance sections, what the special offers are, and you are seeing what the price is at a different marketplace, and you are comparing that exact same identical product on the Amazon marketplace - looking for a pricing difference.

If you would like to learn more about online arbitrage, check the playlist below:

https://www.youtube.com/playlist?list=PLPXwW5tVvu8F9SibBantxD0M7bQjIXTUq

Data Points

The great thing about Amazon is that it gives you many of the data points, they give you many insights in which you need to see, analyse and review as part of being a seller on Amazon. There are different data points which Amazon provide to you. The customer on Amazon, when you are on Amazon just purchasing as an everyday customer, they are not looking for these particular data points, but you as a seller, will, and you will be able to take advantage of tools which can analyse the data which Amazon is presenting. One of these data points is what they call a sellers rank, and ultimately, this is everything on Amazon has been given a rank, and if you think of the products which have the best seller tag, they are the number one best selling product on Amazon. Without the rank, you wouldn't be able to see how good of a seller it is.

The buy box rotates on a listing which you can analyse for the history. So, what you need to do is decide on which business model you would like to go into. There is the arbitrage business model. The same goes from a wholesale perspective, instead of going from a retailer, you can go from a wholesaler. Instead of it being a B to C supplier, even if that is your local retail store which sells to customers. Now you are going to a B to B, a wholesaler. That wholesaler may be supplying those retailers, but from a wholesale point of view, there is a little more involved, but you could open wholesale accounts, you can get on the phone with wholesalers, you can do research on wholesalers, you can find their email addresses and their websites, their contact forms, you can get in contact with them and request accounts to open to see their stock lists. Their stock lists are going to give you the price and difference across different marketplaces and different channels. Just because you are selling the same product doesn't mean that everybody has to have a universal price point; that is the definition of competition, the definition of capitalism, being able to source or make products, or manufacture products at a better price which you can sell for, and hopefully there is some profit in between every business, suppliers, retail store, or wholesaler - they are going to have different pricing points, and that they could potentially offer a product.

The great thing is that on Amazon, they give you many data points, many insights which you need to see, analyse and review a part of being a seller on Amazon. There are different data points which Amazon provide to you now the customer, on Amazon, just purchasing. They're not looking for these particular data points, but you as a seller, you will be looking for them, and you are actually able to take advantage of tools which can analyse the data which Amazon is presenting.

Sellers rank

One of these data points is what they call a sales rank, and ultimately, what this is is every single product which is sold on Amazon has been given a rank, and the products which have the "best seller" tag are number one - that is a number one best-selling product on Amazon. Without that tag, you wouldn't be able to see how good of a seller it is. But for Amazon, in the detailed information section of the listing, it gives you that - it gives you a rank across many different categories, whether that is a toys and games, a sports and outdoors, health and personal care product - the millions of different products which they have available, they rank everything a part of their algorithms and their software. And what you are able to do is you are able to get access to tools, which can analyse those particular products, and when it does analyse that particular product, it is going to start ranking and trending the history of the price, and the sales rank, and what you're actually able to do is you're able to see them visually, and determine whether that has been demand for that particular product, and that demand is going to lower the risk of you investing in a product, and the likelihood that it is going to sell.

Exclusive Brand Deals

Exclusive brands is also a fantastic business model. Exclusivity and exclusive brand deals is you now working with a brand which has the IP of that particular brand and products, and they give you the rights to sell that particular products. The exclusive brands is also a fantastic business model is a little more advanced, where you are now working building fantastic relationships with brands, you are invested in brands, and you are able to get into the performance of the brands. You are a partner of theirs.

You can get the products selling, you could work on the listing and improve it, you can improve the title, the images, and the bullet points. You could start taking advantage of the a-plus content manager and start protecting the brand, and you can really start to build that relationship, and that's exclusive brand deals.

If you would like to learn more about exclusive, check out the playlist below: 

https://www.youtube.com/playlist?list=PLPXwW5tVvu8HRSFDo77DiEaXp6OW7Cmq9 

Private Label

There is also what they call private label/white label, where you are actually creating your own brand and your own listings. This is a lot more advanced, because there is more product research required, there is the demand for that particular product, and you are going to want to look at building a brand outside of Amazon, doing marketing, and building social media platforms, you have got to design the product, what it is that you are creating, what you are providing as an offer, then you have to go into the fine details of actually creating the listing and trying to launch that listing and get off the ground.

Conclusion 

So...You have got a wide range here. A wide range from beginner all the way to complex. Kev's recommendations in terms of getting your first sale, would be going for a business model like online arbitrage. Once you have got the business model which you are going to go for, you have got to start doing some product research, then you actually need to create an Amazon seller central account. Now you also want to start setting your entity up, whether you are just doing this as a personal, or you are looking at incorporating a business.You are going to want to get some advice from legal representations, accountants, and somebody who can guide you on what you want to do. 

Once you do this, and you have got your seller central account, and you have ordered your products, you want to ship those products. There are different types of products and different types of prep requirements, whether that is attaching a barcode, labelling, you may have to poly bag, you may have to bundle or bubble wrap, whatever the case may be, you go through some prep, you get some boxes, you put everything within the boxes which are correctly prepped as per shipment you have created, you add everything to your seller central account, you put what you are wanting to sell it for, you go through the prep, then you can actually purchase the shipping through the partner career, then you can ship that, and it becomes live on Amazon.

If you would like to learn more, there are many training videos on Kev's YouTube channel which you can check out below: 

https://www.youtube.com/channel/UCfgNHqq9IfmSfj3JsvTIoTQ

Further reading:

https://www.systemisefulfilment.co.uk/blog/how-to-10x-your-business-with-virtual-assistants

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