OK, let’s get the tough love out of the way first. If you’re an Amazon seller – or are thinking of becoming one – then read on. Knowing how to fail as an Amazon seller is just as important as knowing what to do to be successful, and in this blog, we’ll outline 10 sure-fire ways to waste your time and money. So if you’re ready for some useful insights, keep reading!
If you’re looking to fail before you even get started, here’s your opportunity.
Take it from your family friend, “Getting into that online selling thing is risky business.” The best way to secure your retirement is to keep working your day job and let social security kick in when you’re 62.”
But in all seriousness, be careful who you take advice from. There are a lot of well-intentioned people out there who want to protect you from failing, usually because they’ve given up themselves. But the best people to listen to are always those who have the results you’re looking to emulate. Join an Amazon mastermind group on LinkedIn or Facebook to get some different perspectives from people who are actually selling on the platform and seeing success.
Maybe this is the limiting belief that’s holding you back from getting started. But ask yourself, when will life ever slow down? Remember, the best time to start was 5 years ago, the second best time is now.
To be fair, starting your own Amazon store does take a significant amount of time to get off the ground and not everyone has an extra 20 hours a week to learn how Amazon works. That’s why we started Angora. We make it easy for people who don’t have a lot of time to enjoy the benefits of running a successful ecommerce business without having to do all of the work.
Before you even turn a profit with your Amazon store, quit your day job and go all in. Afterall, that is what the ecommerce “influencers” are recommending, right?
This is exactly the opposite of what we advise our clients to do, unless of course they’re ALREADY in a financial position to do so. While you can certainly make a lot of money on Amazon and eventually surpass your main source of income, it takes some time and should be treated as an investment.
Instead of hiring experts to leverage your time and money, spend 8-10 hours a day, plugging away at learning every aspect of Amazon and trying to do it on your own.
This isn’t to say that it can’t be done, because it has. A lot of people take this route. But you have to ask yourself if it’s worth the time, money, and frustration?
What’s the best way to give your customer’s the worst experience of their life on Amazon? Source and launch the products you find on Wish.com
Okay, maybe that’s a little harsh. But you get the point. Where you source your products matters just as much as what you’re sourcing.
“As soon as the economy gets better, I’ll start my Amazon store.”
The truth is, conditions will never be perfect for you to start a business. There will always be something that comes up and tries to deter you from getting started. Perfectionism is the death of every entrepreneur. The key is to focus on what you can control and take small steps towards progress. This is the only way you’ll start seeing results. And remember, it takes time to build a successful business on Amazon. Be patient with yourself and with the process.
Once you start turning a profit with your store, spend it on the more enjoyable things in life. Waste it on expensive trips, fancy cars, and the appearance of looking rich.
Ask any successful business owner how they were able to scale their company and chances are they’ll say it was because they reinvested in themselves and their business.
This goes along with #7, “Do everything on your own.”
Take product photos from your phone, outsource your copywriting to someone who’s not invested in your brand, and use Canva to design your logo. This alone is one of the best ways to sink your brand on Amazon and ensure that your product doesn’t get the visibility it deserves.
However, if you want to make a great first impression with your audience, find someone or a team of people who can work with you on creating high-quality content. Remember, the keywords in your listing are how people find your product and the photography and branding are usually what gets people to bite. (along with having overall good reviews).
Want to know the fastest way to get banned on Amazon? Dropship.
We explain why dropshipping isn’t allowed on Amazon in one of our more recent blog posts, but just know, Amazon has recently begun cracking down on dropshippers because they are outside of their TOS. Don’t plan on being successful with an Amazon dropshipping store anytime soon.
Regardless of whether you’ve started your Amazon store or you’ve been thinking about it, procrastination is one of the most common reasons why people fail.
Perhaps reading this article is a sign that you need to stop putting it off. If you’re looking for support and accountability, reach out to us. We can help!
So there you have it, 10 Proven Strategies to Lose Time & Money as an Amazon Seller. If you’re looking for guaranteed failure in your business, we hope this blog helps! We wish you the best of luck (or should we say, the worst?).
