Our best day on FBA Master happened last week when I posted the first post in this series. People sent me a ton of messages telling me they bookmarked the page and it was one of the best posts I have ever done (and a lot of people wondered how long it took to put it all together). Since it went over so well, I decided to do part #2 today.
So instead of focusing on some great “how-to” guide or an in-depth look at a new tool, I want reflect on some of the things I have learned over the past 2 years and I hope you have learned as well.
Here are the 100 Things I Wish All Amazon Sellers Would Know. Each of these items link back to a post one of us has written that goes into more detail (if you are interested in learning more).
- Every person who sells on Amazon has a different reason for doing so. It’s ok to do it as a hobby or part-time.
- Seriously. I have told you that sales tax is real and YOU have to take action. Do it already.
- The Best Buy Gamer Club is your best friend.
- Self employment sounds great, but are you really ready for it?
- There are multiple ways to sell on Amazon. Don’t get stuck with a one track mind.
- Thrifting can be extremely profitable if you know what you are looking for.
- Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.
- Hindsight is always 20/20. The road you take will lead you to your final destination.
- If you think it’s too hard to source in a store, remember that a 7 year old can do it.
- Q4 is unlike any other quarter for an Amazon seller.
- There is no secret to being an FBA Master.
- If you settle, you will only get mediocre results.
- Amazon is not a get rich quick scheme.
- Always give thanks to those who support you throughout the year.
- Sometimes your biggest fans in life are the kids you inspire.
- If you have questions about sales tax, ASK THEM!
- Just because something is posted in a Facebook group, doesn’t mean it is going to crash in price.
- Bad buys happen. It’s your choice how to deal with them.
- Always play in more than one sandbox. Never know when a cat is going to stop by and ruin your day.
- The best way to prepare for Black Friday is to learn from someone who has been through it.
- If you pay attention throughout the year, you can predict what is going to be hot during Q4.
- Understand what the word “nexus” means and how it affects you.
- There are other great Facebook groups out there besides FBA Master.
- Just because we are FBA Masters, doesn’t mean we actually like that name (or connotation).
- If you like shoes and making money, there is actually way for you to make a living from it.
- You will get more out of 1 connection than you will 10 freebies.
- Always fill out surveys on FBA Master. We give away awesome prizes.
- You can literally make thousands from selling just Halloween costumes.
- You will constantly be learning and growing as an Amazon seller.
- Money can be made by merchant fulfilling items right before Christmas.
- Sometimes 1 book can help you plan out a whole year.
- If you need help with sales tax, you can always hire a professional.
- When Chris is home alone, fun always follows.
- Always get ungated when it is easy. You never know when the rules will change.
- You will have a love/hate relationship with replenishable items.
- Even masters make mistakes. Learn from them and don’t repeat them.
- Selling hot items might not be for some, but for others, it’s easy money.
- The Book category has totally different sales rank parameters than any other category on Amazon.
- Always ask yourself: Why in the hell are you selling on Amazon?
- Outsourcing can make life a lot easier.
- Every once in a while, you need to treat yourself.
- I shit you not. There is actually money to be made in used board games.
- Did you actually ask yourself why on #39? If not, do it now.
- Sometimes an experiment can lead to a major discovery.
- You will have shortcomings. Identify them and work to improve.
- Pay Per Click campaigns can have a huge impact on your Amazon sales.
- Did you know you might need to be insured to sell on Amazon?
- Making goals is one thing. Sticking to them is another.
- The most important skill you can have as an Amazon seller is being able to understand the data.
- It’s freaking hard to find someone who will insure you if #47 is true for you.
- Sometimes one Facebook message can make you $1,640 in 6 hours.
- You always need to run reports at the end of the year. ALWAYS!
- There are some small tips that can make scanning a lot easier for you.
- This list might be great advice, but there are some rules you have to follow if you are an Amazon FBA seller.
- If you didn’t believe me on #47, here is the actual language from Amazon.
- Most likely, you are missing out on some tax deductions.
- If you source online and use a prep center, life becomes extremely easy.
- Sometimes, you will make more money if you lower your prices.
- If you are going to set goals, make them SMART ones.
- Sometimes regular shopping trips turn into sourcing trips in the blink of an eye.
- Bundles aren’t hard. People just think they are.
- Legos have performed better than the stock market over the last 30 years.
- Some of you need a little motivation to get started. Hopefully this helps.
- If you set your mind to it, you can find a lot more items than you could ever imagine.
- Not gaining money is better than losing it.
- Using templates for buyer messages can save you A LOT of time.
- Using the right recipes with a repricer can turn your ok sales into fantastic sales.
- Those who think outside the box with OAXRay are the ones that make the most money.
- FOR THE LOVE OF ALL THINGS HOLY, get your billions back.
- Never say you are worthless. You are worth more than you can ever know.
- Understanding your sourcing rate per hour is the best way to determine when to hire or outsource work.
- A manger gives rules, a leader shows you the way.
- Chris gets really excited when he gets to speak in public 🙂
- Understanding how a prep center works is key to know when you need to start using one.
- The race to the bottom is a result of game theory (I know – economics. yuck).
- There are some awesome tools out there to help you save money.
- There are only 4 things you really need to know about selling on Amazon.
- Sometimes reflecting can actually lead to growth personally and as a business.
- Cash flow matters. Like. It really really matters.
- Sex sells. Remember that when you are sourcing.
- Amazon isn’t your winning ticket.
- Slow months will happen as a FBA seller.
- There is money to be made from the items that most people won’t take the time to look up.
- You never know what life will bring. Always be prepared.
- Treat selling on Amazon like a business.
- Having a full time job isn’t an excuse for not having the time to make Amazon work for you.
- It is possible to be an Amazon seller any where in the world!
- Long term storage fees suck.
- Always try to prevent issues before they happen.
- Having kids is not an excuse for not having time to source.
- Stacking promo codes, discounts, cash back, and gift cards can be a huge cost savings method.
- Knowing what to do with damaged goods is important (especially if you have a loved one who hates messes).
- Money is worth more now than it is in the future.
- Some of the best hacks for online arbitrage are 100% free.
- Mind your money or someone else will.
- If you can’t find product to sell, you aren’t trying hard enough.
- There are ways to cut the learning curve.
- Smart investments pay you back time and time again.
- If you don’t like to work, find a way not to.
- If you aren’t a part of this group, you are missing out on way too much fun every day.
CW