Todays episode is with Joe Valley of The Quite Light Podcast. In this episode, he will share his business expertise, as well as some pointers on what to avoid when you're selling your business!

Episode 66: Mistakes To Avoid When Selling Your Business With Joe Valley

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https://youtu.be/BvufZVUH-9I		
			Mastering Product Selection: Profitable Products on Amazon
		
		Insights, Tips, and Strategies to Help You Stand Out and Succeed on AmazonIn this session, we'll explore the nuances of choosing a winning product on Amazon. Whether you're already exploring the platform or honing in on your options, let these 11 rules guide you in selecting a product set for triumph.Rule #1: The #1 seller on Amazon is selling at least $100,000/month minimumThis indicates a strong demand for the product and signifies potential opportunities for you to make an impact.Rule #2: The Number Ten Seller's PerformanceSimilarly, the number ten seller on Amazon should be selling at least thirty thousand dollars per month for your specific category. This shows that there is enough demand in the specific category that even the tenth seller has strong monthly sales. Rule #3: The #10 seller on Amazon has less than 500 reviewsIts standing is a result of a consistent commitment to delivering exceptional value and ensuring customer satisfaction. Rule #4: You can find at least 1 way to make your version of the product unique and significantly better than 99% of your competitors (longer battery life, durability, user-friendliness, etc..)Differentiation is the key. Your product should offer a unique and superior feature compared to 90-99% of your competitors. It could be a distinct design, improved functionality, or enhanced quality.Rule #5: The Price Point is at least $9.99 - $150This range allows for flexibility in promotions, advertising, and maintaining healthy profit margins.Rule #6: Repeat Purchase Product capability Consider products that have repeat purchase potential. Items like coffee, supplements, and vitamins can encourage customers to become repeat buyers, contributing to long-term revenue growth.Rule #7: You can clearly define and imagine who your ideal customer avatar is that would be proud to share your brand’s products on social media or at a party for exampleClearly define your ideal customer avatar. Understand their needs, preferences, and pain points. Your product should resonate with them, making them proud to share it with others.Rule #8: Smaller and Lighter (ping pong balls) is better than big and heavy (like a ping pong table) because of cheaper storage and shipping costs.When choosing a product, prioritize smaller and lighter options. Amazon fees can be significant, and reducing size and weight helps optimize profitability.Rule #9: You can think of at least 5 other products that compliment this product and would serve the same customer and fit under your brand.Choose a product that can be complemented by at least five other related items. By offering a range of products that cater to the same customer base, you can increase the lifetime value of each customer.Rule #10: Avoid Low-Price CommoditiesSteer clear of low-price commodities like paperclips or easily sourced items with narrow profit margins. Aim for products with at least 50% profit margins to ensure a sustainable business model.Rule #11: Low legal liability or infringement issues (patents/trademarks)Lastly, ensure your product selection has minimal legal liability, including issues related to patents and trademarks. Avoid products with potential infringement complications.Selecting the right product is crucial for the success of any business. By following these rules, you can increase your chances of choosing a profitable and sustainable product. Remember to focus on customer demand, product complementarity, and legal considerations, while avoiding low-price commodities. With thorough research and strategic decision-making, you can find a product that will not only attract customers but also bring in long-term profits. Keep these rules in mind as you continue your journey towards building a successful business.Remember, these rules serve as guidelines rather than strict mandates. Adjust them based on your specific situation and in...

Episode 100:   How to Pick a Winning Product on Amazon: 11 Rules for Success

https://youtu.be/UXNapqDV8J0		
			Why Is Amazon Seller Support So Frustrating? 		
		Selling on Amazon has some challenges, especially when dealing with seller support. Long wait times, inconsistent or unhelpful answers, and policies that restrict your ability to edit listings can leave sellers frustrated and losing sales. To help sellers optimize their time and focus on growing their business, we spoke with Arvin Teano, Chief Delivery Officer at Seller Candy, on the Amazon Playbook podcast. Seller Candy offers dedicated account managers to handle seller support issues so sellers don't have to. Key Takeaways: - Be sure to thoroughly troubleshoot issues yourself before contacting seller support. Follow all the steps they recommend. This shows you've done your diligence when you do need to get the issue resolved.- The top problems Seller Candy helps resolve are restricted listings, buy box issues, updating listings and brand registry, inventory discrepancies, and reimbursements.- Seller Candy managers have experience working for Amazon seller support. They know workarounds and can get issues properly escalated and resolved.- Using Seller Candy frees up sellers' time to focus on critical business priorities rather than spend a lot of time communicating with seller support.- Seller Candy handles issues for both Seller Central and Vendor Central accounts. They can be given access to all or part of the seller's account based on the seller's comfort levels. - Flat files are key to managing listings but can damage your account if misused. 90% of Seller Candy's work involves expertise in properly using flat files. No seller wants to waste time battling seller support. Check out SellerCandy.com to see if their team of Amazon experts can help resolve your seller support headaches.		
																
															

Overcoming Amazon Seller Support Issues with Seller Candy

https://youtu.be/2z64nwkJ_VU		
			Learn how to use Brand Tailored Promotions to target specific audiences, boost sales, and increase customer loyalty.		
		Brand Tailored Promotions is a powerful tool that allows you to create targeted discounts for specific audiences. It's a hidden gem in the Amazon seller central, but it's not well-known by many sellers.Here's the secret: Brand Tailored Promotions can help you skyrocket your Amazon sales.By using Brand Tailored Promotions, you can:* Re-engage at-risk customers and win them back.* Convert brand card abandoners into paying customers.* Reward brand followers for their loyalty.* Keep high-spend customers coming back for more.* Attract potential new customers and introduce them to your brand.* Nurture promising customers and turn them into loyal customers.* Encourage recent customers to repurchase your product.* Reward repeat customers for their continued support.* Show your appreciation to top-tier customers and keep them coming back.Here are some dates to keep in mind when using Brand Tailored Promotions:* October 24th - November 24th: Only run coupon clippings during this time, as other promotional types can affect Black Friday promotions.* November 25th (Cyber Monday) - December 15th: Target brand card abandoners and potential new customers.* December 16th - December 23rd: Target high spend customers, top tier repeat customers, and brand followers.Here are some tips for using Brand Tailored Promotions effectively:* Target the right audiences with the right discounts. For example, you may want to offer a higher discount to at-risk customers than to repeat customers.* Create personalized messaging for each audience. This will help to make your promotions more relevant and appealing to your customers.* Track the results of your promotions. This will help you to see which audiences and promotions are most effective.Overall, Brand Tailored Promotions is a powerful tool that can help you to boost your sales on Amazon. By using it effectively, you can engage and convert customers at every stage of the buyer journey.		
																
															

Brand Tailored Promotions: A Secret Weapon to Skyrocket Your Amazon Sales

https://youtu.be/Kd6IMvHqEO4		
			5 Proven Ways to Get More Amazon Product Reviews		
		Product reviews make or break products on Amazon. Just glance at a listing with 50+ ratings averaging 4.5 stars, and you’ll be hooked. A listing with zero reviews? Not so tempting. As an Amazon seller, getting reviews is crucial for driving conversions and establishing credibility. But where do you start when your product is still unknown?
In this podcast, Amazon expert Mary goes over some proven tactics for collecting more reviews in a compliant way. Use these strategies to give your product the social proof it needs to succeed on Amazon.
Key Takeaways: 



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Use Amazon Vine when launching new products. This program lets you enroll products to receive up to 30 free reviews from vetted Amazon reviewers. It costs $200 per parent SKU but can give you a major boost out the gate.







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After the Vine reviews come in, tap your friends and family network (in a careful way). Have them organically purchase and leave honest reviews. Space these out over time and avoid reviewers who share your IP address.







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Send review requests to customers. Amazon allows this directly from the orders page. Use browser extensions like Jungle Scout to streamline the process. Wait at least 2-3 weeks so customers have time to try the product.







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Check the review dashboard for any 1-3 star reviews and reach out to dissatisfied customers. Offer assistance or refunds, but never ask for reviews to be changed or deleted.







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Create a review funnel using marketing inserts. Drive traffic to a landing page that rewards customers and nudges them to leave Amazon reviews before redirecting to your product page. This builds your email list too.




Getting reviews requires patience and persistence, but it's essential for every Amazon seller early on. Use these proven strategies to kickstart your product’s credibility and social proof. Don’t take shortcuts that violate Amazon’s terms of service. Maintain a long-term, customer-focused mindset with reviews.  
What's worked for building up your Amazon product reviews? Have you tried any of these strategies?		
																
															

How to Get More Amazon Product Reviews: Tips to Increase Trust in Your Product

https://youtu.be/Kd6IMvHqEO4		
			The Small & Light Program is Ending! 		
		The Amazon Small & Light program is shutting down on 8/28/2023. I know, major bummer!  But wait, it's not all bad news...		
			Low Price FBA to the Rescue		
		Introducing the new Low Price FBA rate for items under $10! No more weight/size rules - this opens up reduced fees for way more sellers! Time to celebrate and see if your products qualify.		
			Holiday Deadline Dates 		
		The 2023 holidays will be here so fast it'll make your head spin!  Here are the can't-miss deadlines:    8/18/2023:   Top Deal submissions due for BF & Cyber Mon!    9/1/2023:      Apply for Lightning Deals!    9/14/2023:    Last day to ship for Prime Fall deals!    10/19/2023:  Final ship date for BF & CM!No snoozing on these dates! Set your reminders and let's get planning!		
			Prime Fall Event Details		
		The tea is that Amazon is brewing up a special Prime-only event in October 2023! This will feature large discounts and deals to drive major sales before the holiday rush! Don't miss out! Tips to Conquer Amazon in Aug- Review inventory & prices before holiday chaos- Submit Lightning Deals apps ASAP- See if your products qualify for new low rates!  - Use Prime Fall deals to gain momentum!- Call us if you need help preparing!With smart planning, you can absolutely crush Q4 this year! Let's do this! 		
																
															

Episode 66: Mistakes To Avoid When Selling Your Business With Joe Valley

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