GROWING YOUR AMAZON FBA BUSINESS WITH ROI
In today's video I show you 10 items that I recently sold on Amazon FBA and I breakdown the numbers. The internet is full of information about reselling on Amazon FBA with some information being great to some being misleading. I wanted to make a video that breaks down the numbers to help show you an understanding of how important ROI (return on your investment) really is when it comes to becoming successful selling on Amazon.
You have seen those videos of people saying $5 into $350 with Amazon FBA, now that might seem amazing but the reality is people aren't showing the true costs. Those costs being Time and Fee's to make that money. I have been asked lately by a lot of people that are struggling with Amazon on how they can grow their business for 2016. My answer is pretty simple to them, find items that sell and understand your ROI.
As I pointed out in the video there is a major difference between sellers selling items for 20% compared to 600% ROI and to someone starting off in the business if they are settling for small margins it will take forever to grow their business unless they adapt change by finding products that have higher ROI. When it comes to wholesale, private label or even sourcing products from retail stores the margins aren't always huge and honestly it can be a trap for someone new in the game. Especially with the race to the bottom that tends to happen on these items. My advice for new people is to find items that sell for a greater ROI and invest that money back into the business. If you started your business with $10k and your ROI was 20% at the end of the day you aren't making any big impact on your margin which means you will be putting in a lot of work for such little pay. This isn't rocket science, you have to follow the money! If you want to grow your business, increase your ROI and stop buying products with small returns.