One of the best pieces of advice I can give to anyone who is just getting started with Amazon FBA is that when you first start sourcing for inventory, it is in your best interest to scan as much as you like. You want to see and learn where ranks and prices are of various items. You want to see what the competition is. And you can truly begin to develop a keen sense of generalities as you allow your curiosity to get the best of you.
When I go out, I find some of my best items every week because I’m curious about the profitability of certain items. I’ll walk down the isles and just scan on my phone whatever catches my interest. Truth be told, I may not always be looking for something particular, but I have made thousands of dollars this way consistently, every week…and it’s just because I’m curious about one item or another and am eager to know if I can make a profit online. The bottom line is that the more you scan and learn, the more profitable things will be and the more comfortable you’ll be able to run your business.
Many people ask me if I’m looking for particular items when I go out each week. The answer is yes and no. I started out selling in toys because profit margins can be high and it’s hard to beat the amazing consistency it brings to your business. Because I have always enjoyed a large profit margin with toys, I do know a bit more about this category. And I do encourage you to become a consistent seller in one category or another as you are getting started with Amazon FBA. It could be toys, or it could be something completely different. With new toys coming out every month, I’ll always be a student of the FBA game, because I’m constantly learning what is profitable and what is not. This should be your goal as well. Always be learning, sourcing, testing, and letting your curiosity get the better of you is the best way to gain experience with fulfilled by Amazon.
I cannot explain the profits I’ve found simply by walking down a random isle at a store. I was in a Wal Mart on Sunday for all of about three minutes and I found two baby monitors. Now, I don’t know a thing about baby monitors, and I am far from any expert. But, I do know how to sell online. That three minutes netted me about $47 dollars of pure profit. And I paid full price for these items by the way, at $38 bucks a piece. So, I’ll make all my money back, and then another $47 profit.
So let your curiosity get the better of you when getting started with Amazon FBA. You and your business will be better off for it!
Written by Troy Blakenship creator of Amazon Sales Ninja
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