I have had a store on Amazon for almost a year today. It did not become profitable before roughly 2 months ago. So I’ve ever lost money for approximately 8 successive months lol. I knew it had potential that I just had to figure out just how exactly to stop the bleeding!
I needed to post some tips for you all so that you can prevent the pain and start earning profits on amazon.
· you need to find a item that is not plastered Ecom Income blueprint around amazon. If more than one person gets got the exact product it turns into a price war and both parties maintain reducing their cost to get the sale. Eventually it gets to the point at which you are making $1 each purchase. Absolutely NOT worth it!
If they don’t really pay for it, YOU will. The last thing you want is an unhappy buyer. Amazon will close your accounts very fast in the event you get complaints.
· Your drop shipper should become timely. I experienced a couple of loopholes that could wait weeks to ship out their products. I ended up sending a lot of free items because people had to wait for so long. . But when they don’t ship it, then don’t work for them!
· Don’t stretch yourself too thin. I do not recommend having over 200 products on Amazon. When I started I had 3,000 products on the market because I thought Id make more. WRONG! With that numerous services and products you can not keep up in what producer has in stock. I got in big trouble real fast because I d get yourself a purchase and then find out there wasn’t stock. If you cancel way too many orders amazon will close you down. Not to say, your clients won’t be happy and you may not make money on amazon.
· When publishing your services and products double check EVERYTHING. I can not explain to you how many times I lost money because I forgot to place a zero in or that I just flatout put the incorrect price in because I was in a hurry. Some customers got some genuine cheap stuff out of me Ha ha.
· In case you make a mistake, then you pay for it. Even the re-peat client is worth it and you’ll feel better for doing the ideal thing.
· Produce a site for every product line. Its free through amazon. Tend not to compile all your services and products on one web site. As soon as I started I put all of my 3000 products onto one website haha. Don’t take action!