EP#1 - Selling on Amazon (Part 1 of 3) - The Five Stages to Setting up an Amazon Business

Join us as we introduce ourselves properly and run through our experiences of selling online and starting businesses. Together we have both started, grown and even sold Amazon businesses. In this episode we discuss:Find a category & find your productOrder samplesDesign your packagingCreate your listingLaunchWe end by revealing our most embarrassing business moments. 

Summary & Top TipsMake sure your chosen product keyword has enough people searching for it to sustain your business. Try to work with suppliers with low Minimum Order Quantities (MOQs) the higher the MOQ the more money you’ll have to spend upfront. Try to avoid adding your own brand to the product itself as this will usually result in a high MOQ (500+)Order samples and use the product yourself! Try to imagine how you’d feel about the product as a customer, is there anything that can be quickly improved?Read the reviews of similar products, if they’re all high reviews, then your product is likely to receive similar reviews. Stick to one region at first, don’t start translating your instructions and listings to other languages until you’re confident the product sells well. If you’ve never designed packaging before, ask the supplier if they already produce packaging. If so you may be able to produce your own artwork but keep the physical box design.Try to think about the product benefits that you’re providing, what’s the actual value that’s being provided. Is it in line with the price you want to charge?Be careful of all the different margins because they stack up. For a product costing £15.00, you want to be aiming for <£3.50 all in for product, packaging and shipping to your warehouse. These are known as COGS (of Cost of Goods Sold), basically, everything you need to spend before you can sell your first unit, they’re calculated per unit.Don’t set up Amazon seller central until you’re ready with your product since it costs around £40/$45 per month.