In setting your sales targets, it is as simple as saying that you want to make $50,000 a week, or a $100,000 a week.

The process is find your niche first, determine the market size of that niche and then determine what is achievable from the niche (it’s got of reverse engineering).

KNOWING THE MARKET SIZE

It is easier to know your sales target if you already have an idea of what the market size is of your chosen niche

There are lots of 3rd party tools that can help, one of it is Jungle Scout.

JungleScout is a 3rd party tool that allows you to check the market size for a specific product,

This tool will allow you to know the market size of a product and it is accurate to about 80-90% all the time.

EXPANDING YOUR BUSINESS

Once you already start selling a product and decided to expand your business, you must stick with  the niche you started with.

Remember you should only expand when your base product is already established and is already generating sales. It is easier to increase your incremental sales when you have already maximised your market share.

Aiming for at least 15-20% market share for your base product is the ideal level before investing in a new product.

Investing in new products takes time and money as you need to create new photos, ad’s, branding, packaging and launch assets which all add up

OUTLINE OF THE EPISODE

[01:05] – Knowing the Market Size

[03:15] – Expanding Your Business

If you are an expanding business, want to launch or Amazon or just work with a trusted partner to sky rocket your Amazon sales, then please contact us to see how we can help