Music That Inspires

Whatever stage your business is at these days, having an exit strategy is always super important, and today we have an expert in the field to not only explain why this is, but also to share his valuable advice on how to go about it successfully. Serial business entrepreneur, Thomas Smale, is the CEO of FE International, an industry-leading firm that offers technical, diligence, and negotiation advice to business owners to help ensure successful exits for them. This is such an important aspect of your business that doesn’t always get the attention it deserves, but we’re definitely putting it under the spotlight today.

Thomas starts us off by explaining a bit about his company and what they do, and then sharing his background and how he got to where he is today. Together, we then look at the importance of starting with the end in mind, growth rates, how long you should be in business before considering selling it, and the perspective that buyers have regarding a business’ revenue growth vs. their actual profit. We also explore the help that FE International provides business owners in getting the price they want for their business, what buyers are looking for today when acquiring Amazon FBA businesses, and the steps involved in preparing for an exit. I can’t stress enough that you are building a sellable asset as you run your business, and it’s crucial to keep this fact in mind as you progress. It is undeniable that Thomas Smale and his team have a vast amount of expertise and experience to share in this critical area, making this episode, truly, a ‘must listen’ for everyone.

This week on the Amazon Files:

•   FE International and the work they do
•   Thomas’ background
•   The importance of starting with the end in mind
•   Key things to do now to ensure a successful exit
•   Growth rates
•   The length of time in business before considering selling it
•   Buyers’ perspective on revenue growth vs. actual profit in the business
•   How FE International helps business owners get their desired price for their business
•   What buyers looking to acquire Amazon FBA businesses are looking for these days
•   Preparing for an exit

“If you are taking care of your business, running it like a business, have some procedures that you can at least pass on to someone else and start documenting that, 

you have or are building a sellable asset.”

- Kristin Ostrander

Quotes:

“We primarily work with people who want to sell their business, and we will help them prepare the business for sale, increase the value and then, ultimately, what we get paid for is physically selling the business.”

“I'd be buying a domain for like $50, and then maybe putting a website on it or doing various things, and then maybe at the end of the month, I'd sell it for $200.”

“When you're first starting something, you have no idea what you're doing, and you just keep doing it and keep improving upon it until you can turn it into something,”

“So if you think of it like that you're making 250,000 a year, you also have an asset worth seven figures. If we think about that from the start, then you're always thinking about what you can potentially do with that sort of money.”

“That's definitely the way to go into it looking. It's not just the cash that you’re making, it’s the asset value building as well.”

“What I love about building a business is that at the end, whatever that is...I can sell this business and invest that into my next endeavor, or I could retire or I could pay off my mortgage, or whatever it is.”

“Buyers only want to buy a business that's consistently making money.”

“I would say, rule of thumb, at least for me, businesses should be making about a 20%. net margin or, or better, on average.”

“We'll figure out where you are now and where you need to get to.”

“Almost any business making over a million dollars in sales is probably going to be popular at the moment.”

“There's a huge amount of demand out there at the moment for Amazon FBA businesses. There's never been a better time in history to launch an FBA business. There's so much demand out there.”

“Your business does not have to be making seven figures to sell it. Your Business has to be profitable. It has to have some profit in there and you have to have some pretty plain and simple procedures for someone who is going to take it over for them to follow so that they can keep this same growth that you have.”

“Say you want to exit in six months, now is the time to get your books in order and start writing down the different procedures that you do so that when you present your business for a potential sale...it's very appealing to someone who wants to acquire it, because you have all of your duckies in a row.”

Related Content:

• Confident Wholesale Bundlers Workshop - Coupon code: workshop50
• Wholesale Bundle System
• Email questions
• Learn With Us
• Coaching
• FE International Homepage
• FE International Blog
• FE International Facebook
• FE International Twitter
• FE International LinkedIn
• FE International Instagram

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword Exit Plan to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

It’s time to talk all about trademarks and brand registry for your Amazon store again, and not just because we tend to get a lot of questions about this topic in general, but also because Amazon has changed some of the rules recently. As always, we have our resident trademark expert, attorney Ben Becker, on hand to lead us all through the changes and to respond to some of the more frequent questions that come our way.

Once again, I’ll begin by reminding you of our incredible workshop that we have coming up – I just can’t wait to see you all – and then Ben will bring us up to date on some of his own news. From there on, it’s all about the trademarks – their importance, incorporating other brands into your trademarked brand, getting them done yourself or with an attorney, and a comparison of ‘intent to use’ and ‘use in commerce’. We then go on to discuss best specimen submission practices, things to avoid doing when filing, the value to be found in asking questions, and what’s involved in enforcing your trademark. We’ll finish up by looking at what happens in a ‘cease and desist’ situation, and how to make Google Alerts work for you. Trademarks and brand equity are always going concerns among those of us in the bundling industry, especially now with the changes that Amazon is implementing, so you really owe it to yourself and your business to listen in and soak up the valuable information and advice offered here today.

This week on the Amazon Files:

•   The upcoming workshop
•   What’s new for Ben
•   The importance of trademarking
•   Trademarking a brand that also incorporates other brands
•   Trademarking on your own or with an attorney
•   Intent to use vs. use in commerce
•   Best practices when submitting your specimen
•   Things to avoid doing when filing for a trademark
•   Asking questions
•   Enforcing your trademark
•   What happens in a ‘cease and desist’ situation
•   Google Alerts

“Having a trademark is that investment that kind of shows your credibility - that you're serious, that you take your brand and your business seriously.”

- Kristin Ostrander

Quotes:

“Amazon has now allowed us to, once you register for your trademark - even if it's not approved - they let you use that registration number to file for brand registry.”

“The purpose of a trademark is to protect your brand to help you grow and develop your brand, your goodwill, and allow clients to identify you as a source of a product or a service.”

“I'm constantly preaching the gospel of business assets and how you build your business for long term, you know, sustainability or exit.”

“It's like insurance almost, except...you have it for five years.”

“The people who are creating bundles are creating an entirely new product out of third party products, and then advertising them as they are legally able to do, and accurately describing what's in those packages.”

“My answer to whether or not an attorney should help you is: it depends.”

“So when you're looking at a mark, you want to try to stay away from descriptive terms. Try to stay away from your own last name plus descriptive terms. You also want to avoid being confusingly similar...to any registered mark.”

“The USPTO does not allow your trademark to become registered until you are actually using it to sell your products or services.”

“If you're risk averse, filing an intent to use ensures that you get the trademark before you spend any money and doing branding and marketing and labels and all those types of things.”

“If you're actually doing bundles of your own branded products, your best bet is going to be get your brand name on those actual products.”

“So if you're doing a gift basket, then the packaging would be the branded product, not the things inside.”

“If you are deemed to be infringing upon somebody else's mark, they can take all of your profits.”

“Put on your big girl pants because it's going to be a while.”

“If you get to a point where you're starting to have misgivings, stop and talk to somebody.”

“Once you have a trademark, it is your responsibility to police the trademark. The USPTO will not do that for you.”

“I would be cautious when dealing with the products and services of larger brands because they are more invested and more likely to be aggressive in their measures.”

Related Content:

• Confident Wholesale Bundlers Workshop - Coupon code: workshop50
• Wholesale Bundle System
• Email questions
• Learn With Us
• Coaching
• Email Ben
• Google Alerts

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword Trademark to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

Continuing with our series about the very exciting and fun Q4 holiday season, today I’ll be discussing some of the mistakes I’ve made in Q4 so that you can learn from them and avoid leaving money on the table like I did. I start with not ordering enough inventory, and share the story of my first Christmas tree bundle kit. I ordered conservatively, and of course, they sold out in three days! I lost a ton of profit because it was too late to order more supplies. Other mistakes to avoid are not preparing your seasonal products early enough, shipping late, focusing on toys, not selling on multiple platforms, and lowering your prices in a panic. Join me as I go into each of these blunders in great detail, and offer plenty of tips and tricks for what you can do instead to maximize your sales and profits in Q4, including using Amazon price alerts, paying attention to the numbers, focusing on evergreen items, and so much more.

One of my favorite mantras is that failure is better than regret. Remember that it’s always better to take that leap and see what happens than to sit back and wonder what could have been. But luckily today’s episode gives you all the tools you’ll need to avoid common mistakes your competitors are not even aware of, and get the Jumpstart on your most successful Q4 yet!

If you want to learn more about exactly what to sell in Q4, and gain access to selling strategies, holiday action calendars with important dates and shipping deadlines, and join the Live Q&A session with me, the Bundle Queen, register for our Jumpstart class on July 28 at 8pm at MommyIncome.com/Jumpstart. And if you’re ready to take your business to a whole new level, visit MommyIncome.com/Coach to schedule your one-on-one coaching call today. Finally, don’t forget to join our Facebook group with the code word #JUMPSTART, where you can learn from sellers helping sellers and participate in the conversation. Thanks for tuning in!

This week on the Amazon Files:

• We’ve got another Q4 episode for you in this series
• It’s a crazy, busy time, but it can also be very stressful and today I’ll share mistakes I’ve made in the past so that you can learn from them
• Join our Facebook group with the code word #JUMPSTART, where you can learn from sellers helping sellers and participate in the conversation
• You can also register for our live Jumpstart webinar, which takes place July 28, 2021 at 8pm
• One of the first mistakes I’ve made in Q4 is not ordering enough inventory
• Failure is better than regret - I would rather jump in and see what happens than sit back and wonder what could have happened
• My story about a small Christmas tree bundle - no one else was selling these, and we were not sure whether they were going to be successful
• We were scared and only ordered 24
• We sold out in 3 days and couldn’t order more supplies
• Don’t be afraid to order plenty - even if you have inventory left over, you can still sell them next year
• Look at the data and trust the facts
• Tip: Tablecloths and centerpieces sell very well for Thanksgiving and Christmas
• My second mistake was under-ordering inventory for a tablecloth and centerpiece set
• We took a chance on ordering retail arbitrage, and it arrived December 27 - we were stuck with it until the following season
• Ship early and order enough inventory to get you through the season
• Timing of specific inventory is essential
• As things open up after the pandemic, events will start again, which opens up a whole world of products you can sell
• Another mistake to avoid is focusing on toys - we think because it’s the holidays, that the biggest sellers will be toys for kids, but most products people buy in Q4 are not for children
• Tip: Don’t forget about New Year’s Eve as a holiday people will want to shop for as well (new clothes, decorations, party supplies)
• Another mistake is not selling on multiple platforms - open your sales up to Etsy, eBay, Facebook Marketplace, Poshmark
• Sometimes people pay more on eBay than they would on Amazon because they’re not checking other platforms, especially when it comes to “new old stock,” items that have been discontinued that someone has just rediscovered
• Avoid chasing trends and focus on evergreen items
• Pay attention to pricing - if you have the only luxury item left, people will pay whatever you’re asking and it’s okay to mark up your price slightly 
• This is not price gouging - it’s business
• Use an automatic repricer, check your prices regularly
• Do not lower your price -  many people panic in Q4 if items are not selling and they end up selling them at a loss
• Hold out for the big spenders - there will always be someone out there who is willing to pay what you’re asking if they want that item badly enough
• Raise your price when it comes to supply and demand
• Pay attention to little details that your competitors are not keeping an eye on
• If they run out of supplies, you become the only one with that inventory and you can control the price

“If you have inventory left, you have an asset you can sell, even if it's a breakeven. So a mistake to avoid is to look at the data, do the research on the comparables, trust the facts.”

- Kristin Ostrander

Quotes:

“I wanted to share with you some of my mistakes that I've made during Q4 that I don't want you to make because they cost money.” 

“I honestly believe that failure is better than regret. That is really just my mantra right now.”

“We're like, Okay, we're not going to spend that much, we're not going to break the bank on these things. It's a new bundle. We sold out in three days. And we couldn't get more.”

“So mistake to avoid - don't be scared to pony up. Because here's the other thing: Not only did we have two full months of Q4 left, but we could have sold them a year afterwards.”

“Sometimes the reward is better than the risk.”

“There's always ways to get rid of inventory, but you can't sell what you didn't buy.”

“Numbers tell the truth. And if there's not a whole lot to compare it to because you're doing a fresh new bundle, then trust all the numbers surrounding it and make a good decision. Never spend more than 20% of your budget on any one thing.”

“The moral of that story is ship stuff early and buy enough inventory to get you through the season. Make an educated guess, based on the data.”

“It's one of those things where you’ve got to get that stuff in early, thinking about when the customer is going to use it and how long do you have to send it in? So timing of specific inventory is essential.” 

“Early on in my Amazon selling career, I specialized in toys… I left so much money on the table because I just didn't pay attention to other products. I was just all about the toys, all about the trends, all about the characters, all about those different things. And it took me several years to realize...most of the stuff I personally buy for the holidays are not for children.”

“Don't think for a second that if you don't sell toys, you're somehow missing out on Q4, because there's a boatload more things to sell than that.”

“If you have things to sell that you're trying to get rid of, or just even used items, if you're not cross-listing popular or rare items on multiple platforms, you could be losing a lot of money.”

“Make sure that you're cross-listing, cross-promoting and giving yourself an opportunity to sell wherever you can.”

“You don't price gouge on gasoline, or hand sanitizer during a pandemic, or food or toilet paper, those kinds of necessity type items. But when you're talking about a luxury toy item, there's no such thing as price gouging. It's called Supply and Demand. If you have the only inventory left, it's called Name Your Price.”

“It's Supply and Demand. My price goes up when the demand goes up and supply goes down. So if you have the lion's share of the supply, you get to control the price.”

“Set up pricing alerts and keep up with pricing alerts on Amazon. So something that’s like, Notify me when this goes out of stock.”

“Most people in Q4 panic and they start lowering their prices thinking, Oh my gosh, I have a hundred of these left and I'm not going to sell them, and they start lowering their prices. And all of a sudden, they sell them all at a loss when you don't have to.”

“Hold out for the big spenders.”

“So people will pay. And people pay big money and spend big money during Q4, because sometimes that's the only time a year they really ever give gifts to people, and they want to be high rollers.” 

“I raised the price of that item 10 more dollars than what I was selling for before. Why? Because Supply and Demand. My other competitors didn't order enough inventory. They ran out. They didn't anticipate this supply issue. And I got to make 10 more dollars.”

“Y'all, I don't want to make a quick dollar. I want to make a slow million.”

“So again, upping your prices, not panicking and lowering prices, selling on multiple platforms, not focusing all on toys for Q4. You don't even have to sell one toy. Don't get late shipments and don't chance it or risk it when it comes to that.”

 Related Content:

• Q4 Jumpstart Class
• Confident Wholesale Bundlers Workshop - Coupon code: workshop50
• Wholesale Bundle System
• MerchantWords
• Email questions
• Learn With Us
• Coaching

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword #JUMPSTART to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

Today I dig into one of my very favorite topics - Q4! This is the biggest selling season of the year for online retailers, and it accounts for at least one-third of our annual sales. Q4 is the holiday season, and it runs from October right through to December. On this episode, I break down how to prepare for Q4 so that you can maximize your profits and have a competitive edge over other retailers, who are busy lounging by the pool right now.

Of course, the first thing you can do to prepare for Q4 is join our Facebook group using the code word #Q4PREP. Next, you’ll want to register for our Q4 Jumpstart class, which I teach every year in July. This is going to help you prepare for your Q4, know what to sell, learn strategies for inventory planning, access a holiday shipping calendar, and plan for important dates and deadlines. You should also make sure to place your supply orders as soon as you can so that you’re ready to ship come October, and make sure you order enough to cover three months’ worth of inventory as these supplies are guaranteed to sell out closer to Christmas. Generally speaking, it’s better to order too much than not enough, because you can still sell the extra next year, liquidate, or bundle it - but you can’t sell what you don’t have. You can also take advantage of dating with wholesalers (no, not the Tinder kind), as well as buyback options. 

Today I’ll go through these, and so many other tips to help you prepare for a successful Q4, including not jumping on trends, keeping a schedule, and doing your research on last year’s top sellers. Remember, this is your business and no one else can do this prep work for you. You can’t start Q4 in Q4, and today’s episode will lay out exactly what you need to do now to make sure you have your most lucrative Q4 yet!

This week on the Amazon Files:

• Q4 is one of my favorite topics - it’s the biggest selling season of the year (October, November, and December) and accounts for at least one-third of our yearly income
• Yes, it’s only July, but preparing for the holiday season now will give you an advantage over your competitors as they lounge by the pool
• Today is all about Q4 - how you can maximize your profits, and prepare for the holiday season
• Now is the time to place your supply orders to be ready for Q4
• The first thing you can do to prepare is join our Facebook group using the code word #Q4PREP
• Second, you’ll definitely want to register for our Q4 Jumpstart class, which I teach every year in July
• Inventory management is crucial - you need to prepare your inventory ahead of time because Q4 is very busy
• Order enough supplies to cover three months’ worth as you can’t place another order in the middle of Q4 - everything will be sold out
• 2021 is going to be different as Amazon has implemented storage and quantity limits
• Pay attention to your shipping schedule
• Look at one month’s worth of sales and add about 10-20%
• It’s better to order too much inventory than not enough, because you can save it for next year, liquidate or bundle the extra
• Save enough money for additional inventory
• Take advantage of dating with wholesalers - place your Christmas order now, and make your payment in December
• Many wholesalers also offer a buyback option - if you have not sold out your inventory by a certain point, they will buy it back from you at cost
• Remember that Q4 is in addition to your regular inventory - don’t neglect those evergreen items
• Shipping will be very busy this year, and it may take longer for your orders to arrive - shipping early is important
• Create new bundles and listings early, and give them time to index
• Example of Halloween items selling year round - Businesses like haunted houses need to stock up early, and that’s where you come in
• Ordering early can also offer advantages like an early bird discount
• Retail stores like Costco typically order their seasonal items on a one-and-done basis, so pick up your supplies as soon as they become available as they’ll be sold out later
• Pay attention to which racks are empty, which items are hot sellers during the regular season, as they’ll be even more in demand over the holidays
• Be aware that shipping is going to take longer during the holiday selling season
• Avoid jumping on trends as they come and go quickly, and are unlikely to provide consistent, reliable profit
• Don’t panic and start lowering your prices too soon
• Pay attention to data points, do your research on last year’s top sellers, keep a schedule
• Don’t let fear stop you from ordering a little extra inventory
• If you don’t take a risk, there’s no reward

“If you make homemade anything, I'd be having all that stuff made and ready before October 1. So then all you have to do is ship, ship, ship.”

- Kristin Ostrander

Quotes:

“Q4 is literally the biggest selling season of the entire year. And so it needs much attention. Now I know what you guys are like, It's July. Why are we talking about Christmas? Well, because you're an online retailer. And when you're an online retailer, you order products earlier than even now for Q4!”

“Your competition are at the beach. They're boating. They're hanging out at the campground. They're vacationing. They're not preparing for Q4. And that's what you're doing, right? Because you're here.”

“If this is your first Q4, you can't miss Q4 Jumpstart. It is the class that you want to be able to take in order to kickstart your Q4! And yes, we're talking about it early. Because you can't start Q4 in Q4 - you have to do it now.”

“2021 is different than previous years because Amazon has implemented storage limits and quantity limits. So if you're anticipating selling a couple hundred [units] a day and Amazon's not increasing your limits, you need to manage your inventory properly. That means be ready.”

“Pay attention to your shipping schedule. Because as things start to sell, Amazon's going to lift the limits and let you sell more.”

“You don't have to sell as many units to make a good profit if you're selling based on margin.”

“You can’t sell what you don’t have!”

“It's better to have slightly too much than not enough inventory because not enough means you're losing money.”

“That's a great thing that you want to pay attention to using dating - ask your wholesalers if they offer any sort of dating for Fall and holiday items, and most of them will say yes. Also, don't forget to ask your wholesalers if they have a buyback option.”

“Shipping this year is going to be a hot mess, just going to be honest… Because of the pandemic more and more people who weren't really shopping online, are now shopping online even more. And so that has increased the time it takes for your stuff to arrive. So shipping early is really important.”

“If you have Halloween stuff, send it now. No joke, send it now. Because while everyone else is waiting to the last minute, you're going to get the early sales. Order early.”

“Look at those catalogs, pay attention to the early ordering deadlines because there's advantages to ordering early. It doesn't mean you can't order now. It just means that some things might be sold out. And they usually offer an early bird discount.”

“This is about being prepared. This is your business. No one else is going to do this prep work for you. So you need to get on it and do it soon.”

“Pay attention to where the empty racks are and say, Oh my gosh, if this toy or this product or these things are trending now, they're going to be even bigger for the holiday selling season.”

“Be aware that shipping is just going to take a little bit longer, and it's always longer during the holiday selling season.”

“You don't want to stake all of your claim on a trend.”

“Shiny objects won't pay the bills long-term. So you just have to pay attention - trends are trends, they come and they go as quickly as possible. So look for steady, consistent profits and not necessarily trending.”

“Don't panic and lower your prices. Items sell after holidays. They also sell right up until the holiday. So don't be stuck with that - there's a lot of people that are last-minute, they will actually pay whatever price is available, because that's the item that they need.”

“There's something worse than having extra inventory leftover. It's called selling out and losing money that way.”

“Regardless of how free-spirited you want to be, your business still needs attention. That means schedule a plan. Because if you fail to plan, you plan to fail.”

“Running out of stock is like the worst Q4 problem.”

“And you know what, schedule yourself a little break in January, when all the hoopla has died down and your sales are great. You'll probably have a little bit of extra jingle in your pocket. So maybe January is a time that you can then, I don't know, come visit me at one of my workshops because I usually do several in January.”

 Related Content:

• Q4 Jumpstart Class
• Confident Wholesale Bundlers Workshop - Coupon code: workshop50
• Wholesale Bundle System
• MerchantWords
• Email questions
• Learn With Us
• Coaching

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword #Q4PREP to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

Last week, I promised that we would have another ‘question and answer’ session, and here it is! So many really excellent questions have come in, and keep coming in, that I just didn’t have enough time to cover them all in one episode, so we’re going to devote another one to it here today. They are, I am sure, questions that so many others would like to have answered, so please keep them coming so we can continue to build our community of success.

I’ll begin by reminding you of the incredible workshop coming up, and how I am just dying to see you all there, and then we’ll get into the meat of the show – your questions. We’ll cover a number of bundle topics such as the pictures to use, jumping on someone else’s bundle, buy box details, using Alibaba, and the growth potential. I’ll also share tips and insights into choosing winning bundles, making them unique, researching products  and manufacturers, preparing for seasonal bundles, and how to create higher sales velocity bundles. I am the Bundle Queen, if I do say so myself, so check out today’s episode to learn about the world of bundles, and how you can find success in this highly lucrative world.

This week on the Amazon Files:

•   The upcoming workshop in Las Vegas
•   How do you get pictures made for new bundle listings that you make?
•   How do you take pictures for your items when you're sending to a prep center?
•   Can you jump on someone else's bundle listing?
•   I created a bundle listing and I'm the only seller, so how come I don't have 100% of the buy box?
•   What criteria do you use in selecting a manufacturer on Alibaba to do business with? What kind of questions do you have? How do you negotiate with them?
•   Is there room to grow with bundling?
•   Can you sell from Pakistan or from overseas?
•   How do you choose a winning bundle?
•   What's your favorite category to bundle in?
•   What's your average selling price for bundles?
•   I find when I take the time to create a dollar store bundle someone is quick to jump on it and take the price. What can I do to make my bundles unique to avoid this?
•   What specific criteria for products do you need to add a product to a bundle?
•   How do you research seasonal products for bundles?
•   Is Amazon still allowing us to do GTIN exemptions, and do the products have to be only generic or unbranded?
•   Which keyword helper do you use for bundles?
•   Is the Merchant Fulfilled Prime badge worth it?
•   When I started I concentrated on retail arbitrage for Amazon, but with the pandemic I lost the ability to get inventory. What should I do?
•   How do I create higher sales velocity bundles?

“I love you, and you're important to me, and I want you to succeed. I want you to reach every dream that you've ever had.

- Kristin Ostrander

Quotes:

“I've been bundling on Amazon since 2014, 2015, and I love bundling and never want to look back because it sets me apart from my competition.”

“You don't necessarily have to take all of these photos yourself. However, if you do, in the Wholesale Bundle System, there is a whole module about taking your own pictures.”

“If you're going to jump on someone else's bundle listing, the item needs to be identical down to the packaging -  identical.”

“We hope that you're going to follow the Wholesale Bundle System, and you're going to create bundles that no one can jump on, and therefore you get the lion's share and you get the buy box.”

“Quality of product is more important than cost.”

“Most of my experience with Alibaba has been very positive.”

“I was building myself a prison and not a business.”

“It's way better to build a sustainable business. And I found that bundling wholesale products is the easiest way to scale the fastest.”

“The more replenishable inventory you have, the more sustainable your business is going to be.”

“Choosing a winning bundle is this: meet a need or solve a problem for a customer, find the holes in the marketplace, and fill them with product.”

“Making kits for home decor is my absolute favorite right now.”

“You've got people that have millions of dollars and people that have a few pennies, but everybody is shopping on Amazon, so there's something for everyone.”

“Make $5 or more at least per bundle, please. Otherwise you're just running yourself into the ground.”

“The first thing you need to do is take the Wholesale Bundle System because it teaches you how to set your bundles apart from other people.”

“If you’re first, you’re best.”

“I use MerchantWords all the time. That's my best, my favorite keyword research tool.” 

“We don't sell volume, we sell profit margin. We make our money on margin.”

“Compare your bundle to what other bundles are out there. And if there's none, then there's room for yours.”

“We provide all the training that you need right here at Mommy Income because we want you to succeed really, really bad.”

“I would love to be able to meet you and jumpstart your Q4 - even with starting to bundle.”

 Related Content:

• Confident Wholesale Bundlers Workshop - Coupon code: workshop50
• Wholesale Bundle System
• MerchantWords
• Email questions
• Learn With Us
• Coaching

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword #PART2 to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

This week, I am so excited to have a chance to answer some of the tons of questions that have been coming my way. Whether through email, our YouTube videos, or our Facebook group, so many of you have reached out to us looking for more information, insights or advice, and, as you know, I am only too happy to share it all with you. I also really love the fact that the questions range all the way from beginner to intermediate to advanced topics, so you can be sure that there will be something for everyone here today.

We’ll begin by looking at the upcoming workshop in Las Vegas, which leads right into a question about figuring out what to sell, followed by whether or not FBA is oversaturated. I’ll also talk about the benefits of Shopify stores, becoming an LLC, recalling individual items to bundle them, and trademarking as well. Vetting possible bundles, the range to look for, dropshipping from Amazon to other platforms, restricted categories, and the biggest reasons for people failing or quitting this business model are also discussed. I can’t thank you enough for these remarkable questions, many of which I’m sure so many others are wondering about as well, so please keep them coming, and we’ll answer even more of them in future episodes.

This week on the Amazon Files:

•   The upcoming workshop in Las Vegas
•   How do you know what to sell?
•   Can you get started with FBA in 2020 2021 or is it oversaturated?
•   What are the benefits of having your own Shopify store or website?
•   If you are a sole proprietor and want to get into wholesale, how important is it to become an LLC?
•   If you have individual items at Amazon, and want to recall them and bundle them, what do you do?
•   What should you trademark and how does it work?
•   When you're vetting a possible bundle, does rank carry a higher priority than number of relevant listings, and what range should you be looking for?
•   Can you dropship your bundles from Amazon to eBay, Etsy, etc.?
•   What would be good advice for people who are starting out selling in restricted categories?
•   What is the biggest reason that people fail or quit at this business model?

“I want your success story to be the next one I tell on this podcast because you're knocking it out of the park.” 

- Kristin Ostrander

Quotes:

“I have had bundler after bundler come to a workshop, go to a trade show, and leave with a million bundle ideas. They’ve actually already ordered their bundles, and they're sending them into Amazon within a couple weeks of the workshop because they've learned how to do it properly.”

“I don't do a volume based business, I do a margin based business.”

“There are so many things to sell on Amazon, it can't possibly be saturated.”

“Pick categories that...seem, like, boring and unsexy, yet people buy products every day in these categories.”

“They want to see you have a presence besides Amazon, because Amazon's this big, bad wolf to a lot of vendors.”

“You want to get an LLC eventually, because it protects your personal assets.”

“There's this Amazon category where you can sell anything you want, as long as you're registered with that brand on Amazon. And then there's the government that says, ‘Well, you have to register in all the categories, otherwise you're only protected in the one category.’ ”

“So the range is going to be thinking about supply and demand…what is the actual supply and demand of the bundle that you're going to create?”

“Single unit items and bundles are not the same comparison.”

“People that are doing merchant fulfilled only, they're missing out on all of those Amazon Prime customers, which is like 92% of the population.”

“I'm 100% FBA.”

“Getting ‘ungated’ is as simple as buying a wholesale quantity of something from a legitimate wholesale distributor, and making sure that your credentials match, submitting that to Amazon to get approval to sell in that category.”

“The number one reason people fail is because they're not consistent.”

“It's not a quick fix.”

“People quit or fail because they don't commit and they don't realize that they're building an asset and they need to shape it as such.”

 Related Content:

• Workshop - Coupon code: workshop50
• Email questions
• Learn With Us

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword ANSWERS to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

What is success? What does success mean to you? I know that this is a term that can have different meanings for different people, but I also know that there are some common threads among those elite who have achieved incredible success in their lives. Superstars like Oprah, Beyonce, Patrick Mahomes, and Tom Brady have all enjoyed huge success, and research reveals that there are some common traits that they possess, and which you can possess as well.

So what are these common threads and how can you build them into your own business and personal life?

Today, I’ll begin by sharing with you the findings from my research unearthing these common traits, and challenging you with some thought provoking questions to help you determine what success means to you and what you are currently doing, and are prepared to do, to achieve that success. I’ll discuss the importance of taking small, consistent steps, learning to practice well, giving yourself permission to be a beginner, and conclude by inviting you to undertake the ’15 Minute Hustle Challenge’.

This week on the Amazon Files:

•   Common threads among super successful people
•   What do you want to be successful with?
•   Kristen’s challenges for listeners
•   Small, consistent steps
•   Learning to practice well
•   Kristen’s questions for listeners
•   Permission to be a beginner
•   Your non-negotiable 15 minutes/day
•   The 15 minute Hustle Challenge

“When you know what you want, and you know what you're good at, you consistently seek to improve those skills.” - Kristin Ostrander

Related Content:

• 15 Minute Hustle
• Dream Big, Step Small
• Workshop - Coupon code: workshop50

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword CONSISTENT to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

Time is universally limited: we’ve all got 168 hours a week. It’s the same for me, the same for you, the same for every single human being on this planet. It’s even the same for Beyonce. So, with limited time in your hands, how do you run and scale an online business like an Amazon store? Running a business - whether it’s a brick-and-mortar or an Ecommerce store - seems to come with an endless list of tasks and to-dos.

How do you get it all done?

Does anyone ever get it done?

In this episode, I discuss how you can get everything done for your business and scale it through 15 Minute Hustles. I explain what a 15 Minute Hustle is and share an overview of how it works. I share how I came up with the 15 Minute Hustle as I juggled my time between my kids, the household, and my first business. I also highlight why taking small, consistent steps toward your dream business is so impactful and underscore the reason that  holding on to your goals and dreams plays an essential role in achieving them.

“To scale your business forward 15 minutes at a time, first you have to know where you want to go. Your goals are important for your stability.” - Kristin Ostrander

This week on the Amazon Files:

• Last-Minute Lucy and the organized chaos
• Getting discouraged by your business’s endless to-do list
• The 15 Minute Hustle and how it can help you move your business forward
• How and why I conceptualized the 15 Minute Hustle
• Getting wired for success and why taking small, consistent steps is so effective to reaching your goals
• Dreaming up your ‘In a Perfect World’ scenario and the importance of setting goals
• What it takes to run your Amazon business successfully
• Executing your 15 Minute Hustle to help you move toward your business goals 15 minutes at a time
• How to prioritize your tasks using the the 15 Minute Hustle Chart
• The importance of getting and making time for self-education

Related Content:

• Confident Wholesale Bundlers Workshops 2021
• 15 Minute Hustle
• The Master Tasklist
• Dream Big, Step Small

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword #FOCUS to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

It’s important to be legitimate on Amazon, and to do this, you need the correct codes. You need to understand the difference between GTIN, UPC, and EAN codes and how they affect your Amazon business. To help me explain these codes, I have brought in an expert to share everything you need to know to help you fully understand these codes, how Amazon uses them, and why it’s important that you’re using the correct codes in your Amazon listings. Michelle Covey leads the partnerships team at GS1 US and does a lot of advocacy for the GS1 standards that many Amazon sellers use. She is also responsible for the external partner relationships programs that support accurate GS1 Standards implementation for companies of all sizes.

Today, Michelle reveals the differences between GTIN, UPC, and EAN codes on products and why each product variation needs a unique GTIN. She shares why you can reassign product identifiers and why old GTINs are not reused. We explore the issues you may run into when buying codes from third parties that are not registered to you and why buying GS1-certified codes will ultimately save you money. Michelle explains the pricing structure for GS1 US codes and the information you need to provide when registering your codes on their website. She also shares how Amazon verifies your product identifiers and why it is crucial to get your brand name right when listing on Amazon.

“Your GTINs can be assigned to different brands; they all come into that umbrella of your company.” - Michelle Covey

This week on the Amazon Files:

• The difference between GTIN, UPC, and EAN
• Why product variations need to have their own GTIN
• Why you can’t reassign product identifiers
• Why old GTINs are not recycled or reused
• Why you will run into problems if you buy codes that aren’t registered to you
• How using GS1 for your codes saves you money
• The pricing structure GS1 US offers for GTINs
• Expected new Amazon policies on bundle exemptions
• What you need to consider when choosing which GS1 location to use
• The information you need to be able to register your code on the GS1 US website
• How Amazon verifies your product codes
• Why it’s vital to get your brand name right when listing on Amazon

Related Content:

• Confident Wholesale Bundlers Workshop 2021

Connect with Michelle Covey:

• GS1 US
• GS1 US on LinkedIn
• GS1 US on Facebook
• GS1 US on Twitter
• GS1 US on YouTube
• Michelle Covey on LinkedIn

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword #GS1 to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

Visual representation and professionalism are essential when it comes to listing products on Amazon. Someone that lands on your page is usually already aware of what they want; now, it’s your job to close the deal. Your images and copy are going to do that for you, so listing optimization is vital.  Expert help is on hand from Ian Bower and his team at Graphic Rhythm Design. His agency helps Amazon Sellers with their visual identity by producing conversion-optimized images and brand-focused graphics. He and his team help sellers stand out from the competition and successfully launch hundreds of products on Amazon. 

Ian joins me today to share how he used his experience as an Amazon seller to launch a graphics design agency to help other sellers optimize their listings. He reveals why the images you use are so important and how you can make sure your listing has the information that the customer needs to make the buying decision. He shares how his team optimizes Amazon images for conversion and the importance of transformational imagery in a product listing. He also shares how videos affect conversion rates and the ROI you can expect when using a graphic design company for an Amazon listing.

“The images are really where conversions happen.” - Ian Bower

This week on the Amazon Files:

• Why Ian went from being an Amazon seller to helping other sellers with their branding
• How Ian used his experiences as a seller to create the services of his design agency
• How Ian’s design services are helping sellers move products
• Why the imaging on your listings are so important
• How to make sure you use your listing space for the most critical information
• Why graphics are so crucial in Amazon listings
• How Ian’s team optimizes images for conversion
• The importance of transformational and lifestyle imagery in your listing
• How important A+ content is to the consumer
• How videos affect conversion and tips for your videos for Amazon listings
• What you need to know about your products before approaching a graphic design agency
• The ROI you can expect from using graphic design services for Amazon listings
• Opportunities on Amazon to engage with your customers

Related Content:

• 2021 Confident Wholesale Bundler’s Workshop
• Wholesale Bundle System
• com/graphics

Connect with Ian Bower:

• Graphic Rhythm Designs
• Graphic Rhythm Designs on LinkedIn
• Graphic Rhythm Designs on Instagram
• Graphic Rhythm Designs on Facebook
• Ian Bower on LinkedIn

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media and join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.