technology world: How To Make Money On Amazon In 2019

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Saturday, October 19, 2019

How To Make Money On Amazon In 2019

How To Make Money On Amazon In 2019


hey everyone   and today i'm going to share with you how to make money on amazon there's four different ways for different methods then i want to be sharing with you in this video as ways for you to get started to make money on Amazon and I will mention that all four ways I'm going to share with you in this video they all work okay you can make money in all four different ways however some of them work better than others some of them are more effective more beneficial have greater potential than some of the others that I'll share with you so at the end of this video once I'm done sharing with you the four different ways I'll share with you guys what I believe are the ones that have the greater potential they're actually worth you pursuing investing your time your money your energy your effort into so that you can build your own business that's making you money creating passive income quit your job live the laptop lifestyle or whatever kind of lifestyle that you truly desire okay now I'm going to go into each of these methods but I don't think I need to explain too much to you the potential of Amazon Amazon is one of the biggest companies out there they have hundreds of millions of customers on their platform on their website they have so much trust in the marketplace that are expanding globally all over the world not just in the United States but in India Brazil Australia Canada all over Europe they're huge and as Amazon grows and continues to grow it's going to provide you know even more of an opportunity for people like us to build a business and make money from Amazon so Amazon is a huge trend they're growing massively and I believe it's one of the best ways to get started to make money online and kind of branch off from there to build your own online brand and business ok now the first way of making money on Amazon is known as FBA what does that stand for FBA stands for fulfillment by Amazon what does that mean well basically what it means is selling physical products on Amazon ok so Amazon if you go to or Co UK or CA any of the platform's most of the products there are physic products and you too can sell products on Amazon you can sell any product that you desire any product that you want however there are certain products of course that will do better than others so when it comes to selling physical products and fulfillment by Amazon the method of success with that is to do what is called private labeling okay meaning what you do is you find a product in a certain category a certain niche or market that has high demand that you want to build your business around that could be yoga that could be outdoors camping kitchenware cooking self-development there's tons of different categories and niches out there and what you would do is you do research on Amazon identify what's selling see what other products are selling well and you can look at the Amazon bestseller ranking of it because every product has a BSR bestseller rank that you can you you can learn to see which ones are doing better than others so that you know that if you were to sell a similar product you can get similar success and results you can verify the competition there's a lot of research that you can do I won't go into in this video I've got other videos like that but what you would do is then you would find a supplier or manufacturer that's already making that product that you can manufacture and order inventory and what you do is you put your own logo or branding or packaging on that product and then you sell it on Amazon under your brand so a simple example of this would be let's say yoga ok yoga mat you could find suppliers let's say if you go to Alibaba calm ok you can go there type in yoga mat and you can find suppliers from all over the world or in China or different parts of Asia that are make that can make yoga mats for you inexpensively and then what you could then do is put your packaging and branding on that your supplier would do that for you you order a certain amount of units let's say 500 or a thousand units of inventory you then ship it from the manufacturer can let's say it's in China you'd ship it to Amazon's fulfillment centers so Amazon they have fulfillment centers all over the world they have warehouses that store products for their sellers and they handle all of the shipping and logistics for you you've just got to have the product send it to their warehouse set up your Amazon listing market promote your product and then Amazon takes care of everything else so this is a great opportunity because of how much Amazon does the potential and the market on Amazon is huge and massive they handle the shipping they handle the returns the refunds they even handle a lot of the customer support and then Amazon pays you right so depending on how many units you sell of that product Amazon would then pay you direct deposit to your bank accounts that money that you earn from Amazon so this is the most common and popular way of making money on Amazon I'm not going to go too much deeper into this but I've got tons of videos that walk you through Amazon FBA if you want to learn a lot more about it make sure you're subscribed to my youtube channel you turn on notifications for future videos where I go deeper into Amazon FBA but I will mention when it comes to this business model this one that the biggest Pro of this I'll go over the some of the pros and cons the biggest pro of this one is the potential the scalability of it so usually at first you would identify which marketplace you want to sell because Amazon as you probably know they have different marketplaces they have which is primarily within the United States that's their biggest marketplace okay then there's Amazon co uk which is in the United Kingdom there's Amazon Germany those two are the next biggest ones there's in Canada there's Australia etc right so all of these different platforms and marketplaces you got to decide which one you want to sell on because let's say you want to sell in the United States that's the biggest market the biggest potential there well then you're gonna have to ship your products your inventory from your manufacturer to the United States to Amazon's warehouses in the US and that will then give you the ability to have Amazon ship those products to customers within the United States from however when your products and inventories in the US through Amazon FBA you can't sell it in Europe or globally you're gonna have to then ship and Tory to those other countries so that's why it's important to make sure that you pick one marketplace you want to sell in have success there and then branch off and go more international go more global however you do not have to start on you could start in the UK Germany Australia Canada those are going to be smaller markets a little bit less potential but less competition but can also bring greater opportunity for you because because of that so that's one thing you're gonna have to decide and determine I will mention with this too it does not matter where you live okay I don't live in the United States and I sell the United States you know if you want it you know you can live in Timbuktu and you could sell the United United Kingdom if you want or in Australia you can sell in Brazil you could sell anywhere okay you're not restricted based on where you live because a lot of people ask that now there are certain countries you know that might not allow like when you set up your cell Amazon seller central account I'll link to that below for you guys but the websites called seller central to set up an account maybe your country is not listed there are ways around this you can set up a company in a different country you could set up an address for your company in a different country as well like you can get a u.s. address for five dollars through websites like reship calm you can set up a world first or Payoneer bank accounts an online bank account you can receive money too there's many different ways and strategies going around that but I've never seen anyone have that restriction as long as they're creative and resourceful anybody can sell in Amazon if they do some of the things that I just mentioned but the opportunity the potential the scalability is huge the potential this kind of business I've seen people that are making six figures seven figures and eight figures per year okay hundreds of thousands of dollars millions or tens of millions of dollars just by doing this okay now the downside the con of it I'd say would be that it costs money to invest in inventory so there are some startup costs with this and most businesses of course there's some sort of startup cost if you can't afford to start a business then I don't know if business is for you I'd probably make some money and save some money in your job and then take that and make sure you're financially secure to start a business because I see a lot of people thinking they're gonna build a business with no money and there are some strategies but it's so much harder it's gonna limit you in so so many ways and that's why it's oftentimes easier to first make some money in a job or be a freelancer do other things to make some money and then when you're financially secure and invest in starting a business a business is something that's not going to provide for you right away that's maybe another downside of this is that you know to actually launch a physical product on Amazon on average I'd say maybe takes about three months right because let's say you have you've done some research you've picked a few different products that you want to sell through Amazon FBA and then you find some suppliers you go to Alibaba you find a few different yoga mats let's say or whatever it might be and then you one at first get samples so you're gonna reach over to the suppliers and say hey lo I'd love for you to send me some samples so I can test it out and see the quality of it before I decide to place an order with you guys they'll send you samples depending where you live you know if you live in the United States and they're shipping it from China that can take some time for you to actually receive it it might take you a few weeks to receive the samples and check them out and determine the quality of it you've got to get your packaging your logo design that can take some time as well you know once you decide that you want to order from this supplier depending on their lead time their turnaround time it can take a few weeks or even a month and I know for me I've sold supplements on Amazon and I actually my suppliers in the United States because certain consumable products you want it source them from the United States there's certain regulations with supplements or consumable products or beauty products you have to be more aware aware of with the FDA and everything - so with that you know even in the United States they take 30 days just for them to manufacture the product so I have to factor that in every time I need more inventory I place an order I'm gonna make sure 30 days if I have enough in stock that I'm not going to run out so that's something else to be aware of - but it does take some time of course and then shipping your product let's say from China to the US you know it's faster of course if you ship by plane by air it's slower of course if you ship it by boat by sea however you know the plane is more expensive than shipping it from boat so there's logistics involved in this sort of business and it's more of a complex business I'd say for beginners okay if you're brand new that's why I always always always recommend to make sure that you have a good course a training program that can guide you step by step by step by step by step teaching you this business on how to successfully do it but once you've got a product up and you're marketing it promoting it you can have amazing success with it you can launch your second product your third product or you can go more international or you can even go off of Amazon and have your own e-commerce store from Shopify or WooCommerce and you're not totally dependent on Amazon because there are Amazon is a great place to start they have tons of customers you can leverage that they do a lot for you but long term you don't want to be totally dependent on Amazon you want to build your brand and business outside of Amazon which is a whole other topic and conversation so that's the first way okay that's the most popular way the second way that I'll share with you guys is known as publishing okay publishing books on Amazon now Amazon started off as a book store an online bookstore right if you guys remember back in the day it was a place that you go to buy books now they've pretty much kind of wiped out a lot of the Barnes and Nobles and you know local retail bookstores because people have been buying books on Amazon so publishing books is also a great way that you can get you can make money on Amazon and there's really three different ways you can do it one way is known as Kindle publishing now I'm sure you've seen these before this is a Kindle also known as an e-reader I love these by the way I've gotten rid I travel the world and live more of a minimalistic kind of lifestyle so I've gotten rid of all my paperback and hardcover books as much as I love them but I've got them all here on my Kindle so on this device of course I can download ebooks directly from Amazon I can actually search you know this syncs or Wi-Fi so I can search for certain books download it and I literally have hundreds of books on this device so it's a lot lighter weight and it's more practical and it's more the future of where the world is going you know is things being digitized and readers and so this is on trend the potential of Kindle of course is growing and growing and growing a lot cheaper of course to just download a book than actually having a print one and manufacture it and better for the environment as well so big fan of these but Kindle is basically an e-book that you would sell on Amazon that people can download to their Kindle e-readers they can download it on one of these devices or from their phone there's a Kindle app your iPad your tablet whatever it is even your computer as well so Kindle is great the other way is is known as paperback or hardcover okay those are the paperback physical books that you're familiar with and then the third way are audio books so Amazon owns audible okay which basically allows you to be able to publish an audio version of a book that people can download and listen to on their phone or whatever it might be so those are the three ways that you can leverage publishing now the reason why publishing is a great opportunity is because there also is a great market of course of books that are available that you could publish and sell around many different niches there's nonfiction books there's fiction books non-fiction books I love because you can write a book or create one solving a specific problem so for example let's say it could be like a fitness book it could be a recipe book it could be you know a yoga book a meditation book a cooking book it could be a variety different nonfiction if you just need any ideas for books that you can publish go to your library go to a book store and you're gonna see there's millions of books there's and there's thousands of different categories and niches that you could publish books in and then those also of course fiction fiction is more the story the entertainment purposes that people might be buying those books and that could be great too and a lot of people make a lot of money publishing fiction books however on the back end okay the back end in terms of once someone buys your book the opportunity after that I feel is a lot greater with nonfiction books and I can explain that in a bit now when it comes to these books you might be thinking well Stefan I'm not a writer I'm not a great writer you don't need to be the reason why I said not writing but publishing is that your role and the way that you're gonna make money from Amazon is as a publisher meaning you do not have to write the book yourself so for example look at the biggest publishing companies out there they're not writing books they're publishing books because most of the money is in the publishing and the marketing of it so what they do is they work with other writers or they hire writers or ghost writers to write books for them and then they publish it on Amazon through the three different platforms here and they make money from it they market it they promote it so do not think that you do not you have to write yourself in fact what I teach I actually have a course that goes into how to make money through publishing on Amazon what I teach is to hire writers so you find the the niche the category you do the research of course summation is a high demand for the book you're gonna publish then you hire a writer to write the book for you and you can hire writers inexpensively you can have them do the research for you on that topic on that book and you can then create a great quality book and then you publish it you own the rights to the book certain you just pay them upfront a certain amount of money you own the rights you don't have to give them a royalty or anything like that you own the rights you get a publish it you're gonna make the profits of it I mean that's that's a very common thing that happens in the book industry that a lot of people are not even aware of you know most of you guys know of course Donald Trump one of his best-selling books is called the art of the deal which he did not even write himself you know another person Schwartz and ended up writing that book for him but he was the ghostwriter in fact a lot of these books that you see celebrities they come out and they write a book and they publish it and they market it guess what they're not actually writing those books and most of the cases they are being interviewed or they have writer that's writing the book for them s known as a ghostwriter and then they're publishing it under their name and marketing and of course and that's kind of how it's done so the great thing about this way there is great potential to make money from this it's very inexpensive compared to FBA right FBA be prepared I'd say around $2,000 to start with okay and you know of course with this one too because there's the inventory you're gonna have to reinvest some profits back into ordering more inventory to sustain the business whereas this type of business you pay up front for the book it could be a couple hundred dollars right and I usually recommend people start off with a short book a short read there's a whole category on Amazon for known as short reads and the reason for that is that it allows you to test the market and make sure your book is selling and then you can go back to improve your book very easily add more content to it invest more into it so it's a much better book but you're mitigating your risk that way so that way you're not investing thousands of dollars into a book or spending like a year to write it like I did and then have it not sell because then you're out all that time and all that money versus you start with a short book very inexpensive to create still valuable of course you'd sell it at a cheaper price point like you could sell it for 99 cents and the first goal is not just to make money it's just to prove it you know is it selling is there a market can I get this selling for 99 cents because if no one's gonna buy it for 99 cents no one's gonna buy it for 10 dollars so you prove the concept then you're like great this is selling there's a market here there's a demand here I'm gonna improve my book make it better I can turn into a hundred pages 200 pages 300 pages if I want and now there's a lot less risk involved because you've tested it first versus just going out there and publishing this Longboat there's different ways you can do it you could write a book and spend a year writing it if you want to either way works can be successful but my point is this can be a lot more inexpensive as a lot faster too because once you have the book file and the cover for the book which you can get also made very inexpensively like five to ten dollars you can get a book cover made up for your book that's all you need you can go in and publish it and within 24 hours we'll be live on Amazon versus with this model of course you've got to wait for inventory to come in so that takes a little bit longer so this is faster this is a lot easier like it's a simpler business it's not you know not as many logistics involved with it the downside I'd say with this one is the potentials just not as great as this one for example this one I mentioned you know I know people sellers that are making a million dollars ten million dollars a year from their business this one you know it's more I know a lot of a lot of publishers are mostly making five figures you know I you know people are making ten thousand dollars a year $30,000 a year fifty thousand you know I dunno sellers that are in the six figures if you want to scale it up to that point so making over a hundred thousand dollars a year which can be great of course because that can allow you to quit your job and have more freedom in your life too but this one's not gonna scale up as much as this one to a multi-million dollar business another benefit here is you can go more international pretty easily because there's no inventory this one your limited based on where your inventory is okay so you know the the the downsides of it though again is just it's just not going to grow as big and it can be a little bit more challenging in a way to differentiate with

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