The Timeline For Amazon Success - Earning Your First $3000 On Amazon
A Changing Retail World. The world is changing. Retail stores are closing. The money is moving online.
If you’re not living under a rock, you would have seen retail stores all over the world closing shop.
You may not know, however, that there is one retailer that’s increasing its facilities. That retailer is Amazon.
While JCPenny, Sears, Target, Primark, ToysRus, and many other retailers are going bankrupt or closing hundreds of stores, Amazon keeps growing.
Amazon Expands, while Others Close Down
Amazon is adding fulfillment centers globally while retail stores shut down.
It’s still early days, however, and the BEST time to get into Amazon. Amazon only claimed 4% of retail sales last year, but over 40% of online sales.
So when the retail world is closing down, guess who’s eating up that business. Right. It’s Amazon!
You probably know at this point, that if you’re not selling on Amazon, then you’re losing out big time.
I break down the Amazon timeline into 3 months and tell you what you need to do in each month to get your first product earning a few thousand dollars a month.
The Timeline in Just 3 Months
I’m going to break it down into 3 months because that’s the average time it takes our students to get their first product up and selling well on Amazon where the student is making several thousand per month.
That’s the magic moment you want to get to because once you are there, you can just scale the business easily.
Let’s start with a basic overview.
IN MONTH 1 you will start by taking some training, doing product research, talking to suppliers and ordering your first batch of inventory.
IN MONTH 2 you will build your Amazon page, start receiving your stock and getting your first reviews and sales.
IN MONTH 3 you will scale up your sales to a few thousand dollars per month, then reinvest the profits in even more inventory so you can grow the business even more.
At this point in your business, it’s all fun and growth, and it’s a wonderful place to get to.
Now let’s break it down month by month so you know exactly what you’ll be doing.
Month 1 – Training, Research, First Stock
The first thing you have to do is to take training for building an Amazon business. Many people pay $4000 or more for this training (like we did when we started) so that’s why we make Azon University affordable for people to begin.
The rest of this process assumes you are using training like Azon University.
Your first month will start by researching potential winning products. This is another reason why training is so important. If you get this wrong, you’ll spend your investment on the wrong items, that won’t sell and you’ll be going backward from here.
To find winning products, look at what the bestsellers on Amazon are. Then look for products that are small, lightweight (to save on shipping costs later) and have a good pricing range of around $15-30.
Then check the demand in the Google keyword tool for your product keyword and make sure that 5-10,000 people search for that product per month.
Check that the reviews on Amazon are not too high. If people have over 500 reviews, then it will be very difficult to compete.
It’s easy for us to just say check this and check that, but that’s where using a solid, accurate software like AMZScout. It saves you time and allows you to view all the data for your potential winning products quickly. This is the best option to help validate your winning product ideas.
When you find a good product, you would contact suppliers on Alibaba, making sure you ask if they can “private label”, and what the “lead time” is. These phrases will make you sound like a pro.
This is the stage where you negotiate with suppliers and make sure you always negotiate lower prices because the first price is never the final price.
Imagine it’s like a marketplace where haggling is welcome and normal.
At this point, you’ll be ready to order your first batch of inventory. We recommend buying 100-300 at first to “test” the market. You should use this language when talking to your supplier because many will have a minimum order quantity. When you say it’s just a “test” order, however, many suppliers will move on this.
By the end of month 1, you could have researched a product, talked to suppliers and started your first order.
Remember, the first stage is to take training because without it you’ll have no idea what to say to suppliers or even which product to choose. Without training, this section may take several months, and some students never get past this stage without training.
Now let’s move to month 2 of the process.
Month 2 – Your Amazon Page, First reviews and SALES
In Month Two you will be waiting for your stock to arrive in Amazon, and in that time you can build the Amazon page and get used to the back end of your Amazon account.
This is another place where training comes in handy. Having the right training means you will have the templates and structure for your Amazon page, and you’ll know exactly what you need to do and how to do it so you’re ready to start selling.
You will have to take professional photos of your product or get a pro to do them for you. You’ll also have to write the copy for your listing so that customers know exactly what the value of your product is.
When your stock starts to arrive at Amazon, you can immediately get some reviews from family and friends. This will kick-start your listing. You can also turn on some Amazon ads and other advertising to kick-start sales.
This month was more relaxed than the previous month, and it only gets easier from here. At this stage, you should already start seeing some sales, and next month we will take it to the next level.
Month 3 – Growing Sales, Reinvesting Profit
In month three you will be improving your Amazon page and your sales as well. You can optimize the advertising, start using outside advertising as well, and increase your budgets as sales start to come in.
You will eventually start to run out of inventory, so you’ll need to reinvest the profits back into more inventory so you can keep growing.
During this stage of our business when we started, we had a gap between going out of stock and reinvesting the profit. If you have this gap as well, it’s totally fine and just a part of the growing process.
Eventually, you will have enough profit to reinvest in inventory and also have enough to take out and pay for your family, rent, holidays or a totally free lifestyle like we have.
If you’re in Azon University at this point, you would be learning all the sales techniques we used to get top rankings, bestseller product, Amazon choice products and growing our sales to $10k per month or more.
This is the point you all want to get to if you’re still reading this, and if you follow this timeline, then you can achieve it.
Now I’ll tell you what can happen beyond this point. Let’s look at month 4 since you start taking some training.
Month 4 & Beyond – Brand Value, More Products, New Marketplaces
This is where you can start to add more value to your brand and products. You might add something that makes you stand out from competitors, or you might want to set up email marketing to your new customers.
This is also where you can start thinking about adding new products to your product line, or opening up your product in new marketplaces to increase your reach.
You can keep adding new products and scaling up your business, or you can take time off, travel the world, and do whatever you want.
This is when all the hard work truly pays off, and you can create a lifestyle of your dreams.
It’s Your Turn To Follow This Timeline
This is the exact timeline we followed when we started our Amazon business, and it’s what we’ve taught hundreds of students to follow as well.
We are doing a LIVE Webinar on the 22nd of October breaking down this timeline in even more detail and uncovering the exact steps you have to follow to achieve these results.
If you want to learn more about this timeline and how you can follow it to achieve this dream lifestyle, then click here to sign up to the Asinseed and be there live to learn exactly how to do this.