Starting Your Business
We’re just going to come out and say it:
Amazon is the easiest way to start selling on-line.
Keep reading to find out why we think this is true and how you can get started selling online.
Amazon’s Advantages:
When selling online, you can’t succeed without:
- Traffic – You need a steady stream of visitors looking at your items.
- Trust – Even in 2014, your customers have to trust you. They need to know that they’ll receive the items they order and that their personal information is safe.
Amazon provides both of these for you. You don’t have to draw customers to your own website, they’re already visiting (and buying from) Amazon! Customers trust Amazon to provide a safe, reliable transaction and customers know that they’ll be receiving exactly what they order.
Don’t Build a Sandcastle
Now let’s talk about what comes next.
Once you start a business, you must both maintain and develop it. A business that sits, untouched will deteriorate and eventually die. Even an Amazon business won’t grow on its own, without your help.
We call businesses that are started and then ignored “sandcastles.” That’s because they look nice in the beginning, but before too long, they’re gone.
A successful, long-term business requires an ongoing investment of time.
Questions to Ask Yourself
Here are 6 questions that you need to answer before you start a business on Amazon:
- What is my target market?
- Who is my customer?
- Who is my competition?
- How much do I want to invest?
- Where do I get my funds from?
- What tools do I need?
Now we’ll briefly touch on a few other topics that will help you to build a successful Amazon business.
Find your niche.
This is one of the most important steps towards building a successful business. I’m not thinking about that new product that nobody knows about and that will make you famous.
I’m talking about products that will make appeal to a large group of customers. Either something that makes their life easier, or is something they want.
Find such a product and then you can answer the “Who is my customer?” question. Of course, that’s easier said than done. But remember, we’re talking about building a successful business, not a sandcastle.
Here are some keys to answering that question:
- You’ll never be able to satisfy everyone, so don’t try.
- Remember that you’re not your customer. Look to fill the needs of other people. Don’t focus on satisfying only yourself. Don’t limit yourself by thinking that “Of course you have to trust your product and find it useful, but this is not about you, it’s about your customer. This is the hardest part, once you know the product and the customer, then you can move to the easy-selling Amazon plan.
Account Performance
Never underestimate this part of your Amazon business. In exchange for access to customers and their selling platform, Amazon insists that its sellers be on the top of their game. You’ll need to ship on time, answer questions quickly, list your items accurately and more if you want to succeed. Pay close attention to your Order Defect Rate (ODR), as it’s a key metric for Amazon sellers.
If you don’t meet Amazon’s standards of excellence, your account could be suspended or closed permanently. This isn’t something to take lightly.
Buyers are getting more and more picky when they choose the sellers and most of the time, even if you have a good price you get kicked out because of your feedback history.
Questions?
I hope that you’ve learned something about why and how you should build a lasting business on Amazon.
If you have any questions, feel free to email me at services@SellerEngine.com