Mistakes Amazon FBA Businesses Make

– Hey everyone, this is Jamie
Davidson with AMZ Insiders. And a little bit about ourselves, myself, my two fellow co
founders, Jason and Brad, combined to do over 75 million dollars a year on Amazon last year
and already for this year, we’re on pace to do well
over 100 million dollars, all on Amazon. Today, what I’d like to talk to you about is the three biggest mistakes
I see Amazon FBA sellers make. The first one is really
about product selection. Product selection’s so
critical, so important, yet we see so many people not
put the appropriate amount of time and effort into really making sure you make a good product selection. So many people see products
that sell really, really well, and they think, oh okay,
that product’s making a lot of money, I wanna make a lot of money, so I’m gonna sell that product, right, which is a big mistake. You have to know what
you’re doing on Amazon, and in that case, if
you wanna sell a product that is already selling super
well, super competitive, then you’re gonna have to
invest a lot of money into it. There’s a lot more details that goes into all the reasons why, in terms
of how we give away products and all the things that go into place. But that’s the biggest
mistake, is they don’t go at it with a analytical process,
really analyze the market, really understand to make
a good product selection that’s gonna give you the
best chance to succeed. And they don’t get the
right amount of inventory. They often invest way too much
or they get way too little, So all these things, you really
need to put in your favor. There’s no guarantees. You need to be able to
pick a great product. You need to be able to test that product to make sure you’re successful. You make sure you get
inventory, get a great product, all these things, but they’re all related to product selection,
and we see so many people go into products without really
knowing what they’re doing, because they haven’t put
the time into understanding how do you actually select a product. So again, first thing,
the biggest mistake we see is all about product selection. And if you have the wrong product, all the other stuff,
doesn’t matter if you do so many of the other steps right. Even some of our most advanced techniques and how to get to page one and market it, it’s really difficult if you
don’t have the right product. It’s not impossible,
but it’s so much easier if you know what you’re
doing on the front end and get that right. And so that leads me to
the second biggest mistake I see Amazon FBA sellers make is that so many people go at it alone. We have Facebook group with over, between our two groups,
well over 30,000 members between the two groups. And
we’ll see people all the time and people ask about getting help and so many people say oh
you don’t need any help. You don’t need any help. And I think that is absolutely crazy. You’re dealing with some with high stakes with a lot of money, there’s
a lot of complexity to it, there’s a lot of depth to it in terms of how to do things on Amazon. There’s a certain order
you need to put things in and people go out there just trying to figure
it out by themselves. And you can do that. It may take you a
lifetime to figure it out. It may take you five, 10,
you may lose so much money before you figure it out, so, some people are fine losing
10, 20, 30,000 dollars on their own because they’re afraid to get help from anyone
else and go it alone. Now there’s another group
of people that I see that totally get it. They wanna learn the quickest way, the best way how to do something, learn from someone else’s mistakes, learn from someone else’s experience, and really find a mentor
or find a coaching program. And those that don’t do that, it really depends on the individual. If you’re someone who can do it, great. Ourselves, we really
rely on people to help us in all sorts of areas. I like to use the analogy of even every Olympic
athlete needs a coach. So if you take any athlete
who’s in the Olympics, every one of them have a coach. These are the world’s best at what they do and they need a coach
to get that much better. Let alone, people who
are walking into things with no idea how to do this and they’re saying no, no,
no, we don’t need any help. We’re good. Or they say oh, we’ll just go out and we’re gonna get a little
piece of information here, a little piece from here,
and piece it all together. People can do that, more power to them. But again, in our
opinion, what we’ve seen, that’s the biggest mistake. We see so many people post
things in Facebook groups and we’ve got this large
75 million dollar plus Amazon business, we know what we’re doing. We say we don’t know everything,
there’s always new things, but we know a lot and we’ve
got a lot of experience as one of the early sellers on Amazon. And we see all sorts of
misinformation out there that people are taking an implementing and they’re wondering, you know, and it’s leading them to believe like oh, maybe there’s not a
big opportunity with Amazon anymore ’cause I tried
this and it didn’t work. It’s like yeah, of course it didn’t work because you didn’t know the right steps and the right process to do that. I definitely would recommend
finding someone you trust, finding someone who can help you. Find someone that’s actually done it and has a successful Amazon business that can actually legitimately help you and guide the way as opposed
to completely winging it. For the third biggest mistake
we see Amazon FBA sellers make from our perspective is
they give up way too soon. So we see so many people
that come into this and on one hand, everyone acknowledges, it’s indisputable that e-commerce and the opportunity with Amazon is growing and growing and growing there’s no doubt. No one refutes the point
that Amazon and e-commerce continue to grow and for
years and years and years, e-commerce is gonna continue to grow. It’s basically a fact. So what happens, people get involved and they see that it’s
a little bit of work, there’s issues, there’s challenges, you know they have their listing and maybe something didn’t
go quite right with their… You know they need Amazon
seller support to help them and they have to call them
and they don’t get something resolved right away,
so they get frustrated. Maybe a competitor lowers their price and it impacts their product a little bit. There’s endless little things
that happen with Amazon that can seem kind of
annoying and difficult and people think oh,
it’s not working for me, it doesn’t work or my product doesn’t work or maybe they didn’t follow
the right process initially with the first product
or their first product wasn’t a total home run, so they give up. And they’re like oh,
this stuff doesn’t work. Meanwhile, they kind of
waste all this knowledge they’ve gained from hopefully
things they’ve learned, but also the experience you gain. And what we benefit from is
we’ve taken the experience and the mistakes we made on certain things and then we reinvest our own mistakes back into ourselves,
back into our business. And with Amazon, it can
really move quickly. I mean in a period of a year, you know you get that holiday season, the product can really go up. Even if you don’t have a great first year, you stick with a second year. But so many people don’t even make it to the second year because, again, they haven’t enlisted
the help from people that can really help them do it, they run into some
hurdles and they give up. So the third thing I
really encourage you to do is to stick with it. Have this belief, this
longer term mindset. You can’t have such a short term mindset that hey, I’m gonna try
to make a bunch of money in a few months and if I
don’t, it doesn’t work. You’re trying to build something. That’s why what we teach people is to really build brands on Amazon, which is easy in terms
of the technical aspects of creating a brand. But we really believe in brand building because that’s the
long-term success over time. And the more and more
people buy your product, the more viable your business becomes. The other thing, Amazon rewards you for hanging in there and not giving up. So the longer you’re with there, is you get additional features on Amazon such as you get your product trademarked and you get into what’s
called the brand registry. Amazon then gives you new features. They actually unlock
new marketing features that only you have or only
people in the brand registry get that the rest of the sellers don’t get. You have the ability to add new photos in different spots, you
get the ability to do different kind of advertising
than everyone else. So it’s kind of like a video game where you’re unlocking features. And the more you hang in
there, the more you progress in your business, the more
Amazon’s gonna help you grow and grow and grow. So again, make sure you hang in there. So in summary, the three biggest mistakes we see Amazon FBA sellers make is number one, product selection. Not picking the right
product, not understanding the right process how to go about it. The second thing is not finding a coach, not finding someone you
trust, look for mentorship, and trying to completely
wing it on your own and end up making a lot
of expensive mistakes and so on as opposed to finding someone that can really help
you get there quicker, faster, and better. And the third thing is
don’t give up, right, the third mistake we see
too many people give up. Again, gotta stay with it and realize, this thing, our own
business, our own experience, we’ve been at it for,
this is our eight year, is it’s a process. It takes time and you’ll
learn things along the way, but the power and leverage of e-commerce is unbelievable and the
power of Amazon’s incredible and it’s only gonna continue that way with the incredible growth
of e-commerce and Amazon. So if you found this information helpful about the three biggest mistakes, I’d like to invite you to click below. Check out our free workshop. I put together an entire workshop all about our exact
process on how we built our 75 million dollar Amazon business and how you can implement
some of these exact steps. More importantly than us building it, is how you can build your
very own e-commerce empire whether you’re just beginning
or whether you’ve already sold on Amazon, how you can
learn from what we’ve done, our exact process and make it your own and get underway building your
very own e-commerce empire simply by clicking below for
our limited time workshop. So if you liked this
video, be sure to give us a thumbs up and, really important, make sure you subscribe to our channel. Every week we put out new content all about Amazon and
e-commerce to help you. You wanna make sure
you’re notified of that. Be sure to subscribe to our channel here. And lastly we’d love
to hear what you think are some of the biggest mistakes. I’d love to hear some
of the biggest mistakes maybe you think you’ve
made if you’ve already sold on Amazon or any questions you have about selling on Amazon,
we’d love to hear from you, commend below. (light music)

Am I Too Late to Start an eCommerce Business on Amazon?

– Everyone I’m Jamie Davidson with AMZ Insiders. A little bit about ourselves. Myself and my two fellow
co-founders Jason and Brad combined to sell over $75
million on Amazon last year. This year we’ll do over
$100 million all on Amazon. And today what we’re gonna talk about is another really frequently
asked question we get from people, friends and family, and people all over the globe which is, is it too late to get
started selling on Amazon? And or an e-commerce. And the answer is absolutely not. No way not even close. Not remotely. What happens is people
see certain elements small niches of something being maybe a certain product being maybe a little bit saturated and so forth. The reality we are very much
still in the very early stages of selling on Amazon and e-commerce. E-commerce currently is only 10% believe it or not it’s
only 10% of all commerce. Which is incredible because look at the chart of
the growth of e-commerce over the last ten years it’s like this. It’s incredible. And Amazon is by the far
the most dominant player within the e-commerce space. And that being the case, it’s like this it’s projected to be again keep in mind we’re only at 10% so over the next five years for example it’s expected to be to triple . The growth rate is expected to triple, to become only 30% of all commerce. Right so that’s still only a third. And so for years and years you
got so, so, so much growth. Think about the iphones
only been around for barely a decade. Barely a decade and think about how much that’s changed things. And with e-commerce particularly that’s one of the biggest reasons that Amazon is such a huge opportunity is because of the growth of mobile and how we’ve very much
still in the early stages of mobile and how much
further we have to go. The reason why Amazon
is such a great platform and such a great opportunity, because most people buy things now mobile. They actually use their phone. They still use computers
and everything else. But Amazon has made it so
easy to buy on your phone. I’m sure you’ve used Amazon. If you’re going to buy on Amazon, you are disappointed if you go to Amazon and you’re not able to buy something. It’s pretty rare. Right people go to Amazon
with the expectation that they’re gonna click the buy button, they’re gonna have it on the door step within no later than two
days with Amazon Prime. And really now a days you
can actually get stuff delivered by the same day. A lot of products you can literally get within hours delivered to your house. And so with that, it’s awesome from the consumer side. But also creates a huge opportunity that is still very much in early
stages on the selling side. In terms of Amazon in particular, Amazon is bigger than the next 10 biggest e-commerce platforms combined. That is why we eat,
breathe, and sleep Amazon. Is because it’s so much bigger than all the other e-commerce platforms. Even though we sell on all
sorts of other platforms We sell on Walmart.com We sell on ebay, we sell on bunch of e-commerce platforms you probably never heard of. Still all day long, whenever we’re focused on
our e-commerce business we always go to Amazon and
focus on that primarily because that’s where
all the customers are. And so basically if you
can get your product, if you have a good quality product you can get in front of this
massive amount of customers that are all on Amazon. And you leverage Amazon’s
system and do things. You can sell an incredible
amount of money per month. That’s why you hear people selling these incredible amounts of
sales on Amazon every month because they’re taking
advantage of the traffic. Now it’s not to say it’s easy
and doesn’t require any work. That’s not true. With anything in life, there’s kind of winners and losers. And just know that there’s
incredible opportunity. Those that get on the
platform and think that they’re just gonna throw stuff up there. They’re not gonna learn
how to actually do it, follow a process, learn from people who actually
know what they’re doing, sure those people are gonna struggle. Which we like because
we know there’s gonna be those that are successful and those that are not. And if that wasn’t the case, it really wouldn’t be an option at all. Because if anyone could just do it, then sure wouldn’t be an opportunity. But the reality is, there is absolutely
huge, huge opportunities. It’s a matter of who’s gonna
get that slice of the pie. I mean the pie is getting
bigger, and bigger, and bigger. But again I’m sure if you read about it, every week all the new
articles about Amazon getting bigger and bigger. And local retailers
struggling more and more or big retailers chain
retailers going out of business. And again it’s called the Amazon effect. And that’s not going away. There’s certain things
that can be debated about how to go about certain things. But what’s not in debate is
the growth of e-commerce. All right we’re still very
much in the early stages and there’s very much a long ways to go. Related to that, if you’re interested in
getting started in e-commerce you wanna learn, you wanna do some more homework first, we’ve got an awesome free workshop if you click the link below. Where we tell you the
exact steps that we used to build our business. And more importantly, we go into the exact
steps that you can use to get underway with an Amazon business, build your e-comm empire. Everything from how you pick a product to how you rank a product to
get to page one on Amazon. We go through it. So again be sure to click the link below and check out our workshop all about how to build your own Amazon empire leveraging the power of e-commerce. So if you liked this video, be sure to give us a thumbs up and definitely be sure to subscribe. Every week we go through all sorts of new tips and techniques and topics all about selling on Amazon and how you can be
successful selling on Amazon. And if you have questions, we’d love to hear for it Be sure to put in the comments below anything about selling on Amazon, about how to get started, and next steps again we’d
love to hear from you