After struggling to make a decent income on the internet for the past few years I finally stumbled upon a method that is really working well for me and is also a lot of fun at the same time. When I found this method I was really pretty pleased and I am just as pleased now to share it with you.
I have been a regular customer on Amazon.com for quite some time – as are many people of course. I heard somewhere that about 45% of the items sold on Amazon were NOT sold by the Amazon company but by third party sellers. Sure I knew people other than Amazon were selling products on the site but I never knew it was so significant. While talking with my friend one day the topic of Amazon.com came up and I laughed when I heard him say “Oh Amazon… those are the jerks who are putting everyone out of business!”
Of course I knew that he was referring the fact that a lot of commerce has been changing from traditional brick and mortar stores to online shopping. But I also knew that he was mistaken because in fact many people were building there own businesses online in general and on Amazon in particular. I explained to my friend that Amazon is not just a huge company but they are a marketplace with lots of customers and lots of vendors. It is a marketplace where it is easy for the average person to set up their own online business selling real, physical products that consumers want and need. Amazon actually makes it easy to do this!
I decided to look into this situation in more detail. My research lead me to learn about the FBA program. This stands for Fulfillment by Amazon. I learned that not only are many people making good money as third party sellers but the FBA system is far superior to the merchant fulfilled method used by some folks.
Watch this short video to learn some more about the Fulfillment By Amazon program –
About four weeks after my friend’s comment I had set up my FBA business and made my first sales on Amazon! Yahoo! I have been consistently working to build my Amazon selling business ever since. There is a lot to learn about running this type of business but there are some excellent resources. Amazon’s site offers a wealth of good information to help sellers get set up. They have many educational videos. Amazon wants more sellers and actively recruits them. Since Amazon takes a small commission on each sale that means that each seller is actually a customer of the Amazon marketplace. Amazon is fanatical about taking good care of their customers weather they are end user consumers or third party sellers.
By far the biggest asset I used in setting up my Amazon business was a course entitled the Proven Amazon Course. I learned of it from the Warrior’s Forum, a popular forum for online marketers. Upon signing up for the course, often referred to as the PAC course, I was amazed at the amount of information provided. The Proven Amazon Course is set up by Jim Cockrum who has a excellent reputation as an online marketer and author. Along with Jim Cockrum there is a wealth of other successful Amazon (and eBay) sellers who contribute to the course. I call it a course but it is really an community that offers excellent support and advice. I find them extremely helpful and use the resources from PAC frequently.
Actually one of the very best parts of the Proven Amazon Course is that there is a consistent flow of new information added to it on a regular basis. For example Proven Online Sourcing Strategies, Proven Wholesale Sourcing, Proven Performance Inventory and the A to Z Refund Guide are all valuable aspects of the course and there are more features being added all the time.
Another excellent resource which is part on Jim Cockrum’s www.mysilentteam.com site is the Selling on Amazon Mentor ship Series. Because of the tremendous community of successful amazon sellers Jim has recruited several people to produce a series of live (and recorded) webinars that teach many specific aspects of this real business. Some of the topics covered in this series are –
- FBA Step by Step
- How to Grow from $5000 to $50,000 per Month
- Selling on Amazon Internationally
- Sourcing on Amazon on a Budget
- Hands–free inventory sourcing & management through third–party services
- Thrift Store, Yard Sale & Auction Sourcing for selling on Amazon
- Liquidation Sourcing for selling on Amazon
- Free sources of hot inventory lists
These are just a few of the topics covered in the SAMS program. There are many other creative webinars to be announced as part of this series. The information provided tends to be rather detailed and specific to many of the various aspects of the FBA business.
Finding items to sell for a profit and building up your inventory is probably the main focus of running an Amazon selling business. During my first year of experience I have focused mainly on these sources –
- Garage Sales / Yard Sales
- Liquidation Stores
- Retail Sales
One aspect of my business that I actually enjoy is buying products from Ebay and than turning around and selling them on Amazon.com. Ebay pricing seems to vary quite a bit and with certain products. I have been able to regularly find certain brand new items that will quickly sell for much more on Amazon. Amazon buyers have a lot of faith and trust when buying from Amazon and do not seem to mind paying more for it.
As I am expanding my business I am now beginning to utilize wholesale companies. Dealing with wholesalers can be somewhat complex and I am finding many valuable resources at SkipMcGrath.com. Skip is an experienced Ebay and Amazon seller, an expert at finding wholesale sources for online sales. He offers several excellent books as well as The Complete Amazon Marketing System at very reasonable prices.
For some looking to create an online income I can honestly say that you should consider the FBA program to become a third party seller on Amazon.com. It has many benefits and there is a wealth of valuable resources available to assist you.
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