💸 Making Millions Selling on Amazon?

GM. This is “Work After Work”, the newsletter that is NOT boring. Because being boring is a choice. And we chose No. 🙅‍♂️

It's hump day, so let's get to humpin... I mean working 😅:

• 💰 Selling on Amazon

• 😒 Your daily dose of jealousy… (6 yr old makes $26M reviewing toys)

Time to get goin: 1-3 weeksEst. start-up cost: $1,000Potential return in 6 months: $7,500

WHETHER YOU LIKE EM, OR HATE EM - YOU ALWAYS USE EM 🤷‍♂️ 

Amazon is one behemoth of a company. No one asks anymore " What Amazon sell" It's more like "what don’t they?"

From an ostrich pillow all the way to Thanos' One-Piece Swimsuit. They got everything...

Fun Fact: If you look at the Amazon logo the arrow goes from A to Z meaning they carry everything from A to Z. Clever little Amazon huh 😏

What’s even CRAZIER is “Amazon” doesn’t even sell anything 😱. Individuals like you and I do… Amazon’s just a middle-man to connect buyers with sellers. *Amazon does sell their own stuff but the majority is third-party sellers*

In today’s edition of “Work After Work” we’ll be sharing how you can be the individual selling on Amazon because sometimes it feels like a blackbox but people are making millions doing this, and you deserve to as well! 🤝

4 EASY STEPS TO GETTING STARTED

1. Create your Amazon Sellers Account 

The first thing you’re going to need to do is create an Amazon seller’s account. *note this is completely different from your personal Amazon account so create a new one* 

Here is where you’ll see your sales, inventory, etc. Honestly, the setup process is pretty easy. You should be able to create a new account in less than 5 min. 

Now comes the fun part of actually selling on Amazon. 🍿

2. Choose how you want to sell - "FBA" or "FBM"

I already know you're starting to panic because of the abbreviations. No need to fret cuz I’ll be going over what they mean right now 😁

FBA - Fulfillment by Amazon 

Pretty self-explanatory if you ask me. Essentially Amazon will do everything for you.

All you have to do is supply them with the product and they’ll take care of the shipping to the customer returns and customer service - that pretty much everyone in business hates doing.

Now of course this isn't free, they do take a fee for every item you sell but it's not a bad deal if you ask me.

FBA is the best option when you have multiple quantities or a lot of things to sell because you can send it all in one box. But if you don’t have a large amount of items that’s where FBM comes in.

FBM - Fulfillment by Merchant 

This is pretty much the "merchant" handling everything, which means you.

You list the item, you ship it, you handle complaints/returns, etc. You're just using Amazon as a medium to find buyers. Not the best deal if you ask me 🥱

Which one’s better?

Honestly, if you’re trying to scale this business, FBA all the way! Let Amazon handle what they're good at and use your extra time finding more produc to sell and negotiating with suppliers.

3. What to sell and where to find items?

We'll first figure out what to sell that way it’ll be easier for us to narrow down suppliers.

A good rule of thumb is to avoid selling “big” products such as vacuums, desks, beds, or anything else that is "large".

There are soo many horror stories on Reddit about large orders so just trust your boy and stay away from big items until you become familiar with everything. I'd try to stay under 5 lbs.

The best things to sell are ones with low overhead. The #1 selling products on Amazon  are books and lucky for you, I'm pretty sure you have some old textbooks collecting dust in your garage.

You could also ask some friends to give you their unused books. Once you have them all you have to do is send them to Amazon.

A great tool to use when selling things is Jungle Scout. They provide the best data on what's selling the best on Amazon right now, and if your book is even worth selling. The lower the sales rank the better.

Personally, I say hold off on finding other items besides books or things around the house until you become familiar with everything like shipping costs so you don't have to worry about losing money when you make mistakes. 

A little boost of motivation 🤏 

I want to show you guys that selling on Amazon is doable. But just like any other business, it requires grit and consistency.

Here’s a screenshot of the best day I ever had back when I was selling on Amazon.

YOUR DAILY DOSE OF JEALOUSY

$26 Million Dollars Reviewing Toys...that's this many zeros: 000000

Idk about you guys but when I have kids I’m making them review toys, or who knows maybe they’ll be reviewing stuff in the metaverse by then…

And that's all for today folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.