AS 5: Private Label on Amazon – Success Pointers That Every Seller Should Know

Podcast 5: Private Label on Amazon Success Pointers That Every Seller Should Know

As always before we talk strategy your daily amazon news: Amazon founders reused rocket successful launches and lands

Now back to the podcast:

One of the major factors in my private label success was taking an existing product and making it better. I search used Alibaba and was looking for my product, but a variation of it that did not yet exist on Amazon. I find it absolutely pointless to take a product that is already on Amazon and sell it as well. Why?

* Have a unique product, where your take on it is not currently selling on Amazon

Because your’re not only splitting your sales with another existing seller, but your also do yourself a disfavor by not being a unique product. Being unique is the name of the game. If you can differentiate yourself from the rest of the competitors it means the difference between 1-5 sales a day and 40-50 sales per day.

* Your brand name is a major factor to success. I believe branding is everything. If you can brand your company after a very unique factor of your product, it will give you a leg up on your competition.

* Design, design design. Do not just go with the first design. Order samples of your design. I ordered 10 samples from my manufacturers that were designed by me. I then went on to make changes to my design, enhancements that make my product stick out among my competitor’s.

* Even after initial 1000 units. Keep improving the design. Its critical to your success. Apple doesn’t release the apple iphone and stop there. They continue to reiterate on not only the design and product. Make smoother edges on the product. Take 3 star reviews, their criticisms and implement it into your product. Your product is never FULLY finished!

* Don’t expand too fast. Too many products and you start to lose focus. The only time when you need to expand to more products is if your product is #1 on amazon and it is not selling. WHY GIVE UP on your initial product. Keep striving to increase your sales velocity. My top competitors sell over 200 units a day. I’m currently at 30-50 units a day and I rank over 6000 best seller rank. That is insane.

* Private Labeling isn’t for the faint of heart or low up front investments. Even right now, my biggest limiting factor is capital. I don’t have enough to reinvest into my business to make it grow at the speed I want. More capital, = more velocity. The scary part is, this is the first business I’ve run where, capital was a limiting factor to how fast I could grow a business. I run a web software company, a big art company, and a mens development company all of which are web platforms, that require little to no on-going capital. Private label requires a lot of ongoing and initial capital. If you don’t have at least 10k for private label, I would recommend retail arbitrage first.

* Make your brand name focused enough to give you an advantage, but not to focused for you to not be able to expand into the future. For example, if I was selling flashlights, my company would fill a need within Flashlights. I would probably call it, Brightest Flashlights. This would give my end consumer the belief that my focus filled their need. The want of having the brightest flashlight.

* I believe you must be passionate about your private label business. Do not jump into an industry where it doesn’t excite you every morning. Having that extra ounce of passion will make your business better than your competitors. It will drive you to work harder and smarter than them.

* Choose a private label business that has lots of room to grow. This is a vague statement. But understand that not all products sell well. Not all niches have high demand. The ones that do, are ultra-competitive. If you want to join an ultra-competitive niche where rewards...