Are you thinking of selling on Amazon? Do you think you have what it takes to become successful at it? Let’s face it, selling is not easy, and many had given up on the idea of setting up an Amazon business before they even started.
While it may seem scary, a lot of people took the risk and dove right in without any preparation. But unfortunately, while many have been successful, there are some who failed. So, let’s get into the details of why some people fail and some helpful tips on how you can be successful on Amazon.
Why Do People Fail On Amazon?
Many people who failed on Amazon have no idea what they did wrong. Most of the time, the reasons are simple. I know because I’ve been through this, and I’ve made a lot of eCommerce business mistakes when I was just starting my Amazon journey.
But I didn’t give up. Instead, I learned from my mistakes, improved my habits, and waited patiently until I became successful and reached my goals.
It’s also one of the reasons why I started my website. I want to share my experience and help other people succeed on Amazon.
No Goal And Action Plan
Many Amazon sellers make a common mistake by starting without goals or plans. All they think about is earning money but have no clear direction on how to do it.
Most sellers have no effective strategy, no measurable goals, and no idea of what they are doing. Having a clear goal on what you want to achieve and a plan of action on how to achieve it can help you run a successful business.
When I was still starting, I used to wake up at 4 AM and work on my Amazon business until 7 AM. I made sure that I would work on it for 3 hours every day, 6 times a week. I still had a regular day job at that time, but I made sure that I worked on it each day. I didn’t let my day job affect or interfere with my Amazon business.
Expecting to be Rich Overnight
You’ve probably watched YouTube videos or read articles on how to sell on Amazon and about sellers getting rich overnight through selling on Amazon.
This is not true, and this kind of content is misleading. Not unless that person got really lucky and is super talented, but this kind of success story does not really happen often.
Setting your expectations with this mindset will only leave you frustrated and disappointed. This is why many people fail. When it doesn’t happen as fast as they hoped, they’ll feel down and give up easily.
Didn’t Bring Outstanding Product Value
Amazon is a very competitive marketplace. You can’t just find something to sell and sell it on Amazon. You can’t just create a listing, add images, and do some copywriting, then sell it. Well, it may have worked before when the competition was not as stiff.
Failing to bring outstanding value to your product with all the competition on Amazon will bring you nowhere. Today, you need to understand all the nitty-gritty details about your product before you enter this market to give you an edge.
Ignoring The Math
It’s not just about getting $1000 dollars if you sell something. You need to consider the cost of the product and services you will need to launch, like product photographers, restocking inventory, and advertising.
Think about all these things before you start because, in the end, you might realize that you don’t have enough money to sustain it or to reach success with your product.
Tips On How To Be Successful On Amazon
Now that you’ve learned what mistakes you need to avoid making, here are some helpful tips that I learned throughout my experience selling on Amazon.
Have The Right Mindset
You can have all the right tools, money, experience, and skills, but those cannot guarantee your success if you have the wrong mindset.
How you deal with pressure, failures, and disappointment can all contribute to your success. You need to have confidence and faith in yourself. Because if you don’t have them, your tolerance for failure will be very low.
You need to be all in and ready to sacrifice some things in order to achieve your goals. These sacrifices can be limiting your time watching TV, missing out on your friends’ night out, sleeping, and waking up earlier than usual, or it can be anything that may cause you to lose focus on your Amazon business.
If you think you can’t make any sort of sacrifices, then it might not be the time for you yet.
Set realistic and measurable goals. Don’t set it too high at first because it will only disappoint you if you fail to reach your goals. When setting goals, set a specific number to reach. For instance, your goal is to earn $10,000 monthly. It is easier to see where you’re going if you have a specific number in mind.
Next is to set a time frame on when you want to achieve that goal. Let’s say monthly or yearly. It doesn’t matter when but make sure it is clear.
At the end of the day, be sure to report what you did toward reaching your goal. I like writing at least three specific things I should do tomorrow, no matter what happens, and I make sure I complete them.
I know that if I commit to my goals and plan of action each day, results will come. It may not be the exact number I set, but I always believe that something good will happen.
If your goal is clear, your subconscious mind will work toward getting this goal. Know what you want and when you want to achieve it.
Be confident about yourself that you can achieve your goals and be successful on Amazon. But in order to be confident, you need to work hard and give your 100%. Learn all that you can, and don’t stop learning.
Soon, you’ll be surprised by the amount of knowledge you’ve gained. You’ll find yourself trying out different PPC strategies and possibly even using an Amazon Influencer Storefront to help increase your product visibility and sales on Amazon!
If you know that you did everything you could and you have faith in yourself, anything is possible. There’s no room for doubts, and even if you fail, it will be easier for you to climb back again.
Don’t Be Afraid To Try Again
So, your first product didn’t sell, so you instantly stopped trying. Not everyone can be successful on their first try, but it doesn’t mean that they won’t be able to sell in the future. You just need to understand what you did wrong the first time and correct it.
Find out how other people do it and learn from them. Then try again, give it another shot, and you’ll be surprised with the results.
Our mind is very powerful, and you can achieve almost anything as long as you have the right mindset. But it’s not just about having the proper mindset. You also need to work hard, have faith, be confident, and have a clear goal and plan of action to be successful. Lastly, be patient. Great things don’t come easy. So, just wait and believe that everything will fall into place.
I’m Tomer from Sourcing Monster, owner of an Amazon FBA brand with experience in e-commerce for 14 years. My passion started when I was young and I’ve been programming since age 12. When I was 14, I opened my 1st online business which was a hosting company. At 16, I left school to pursue my dreams full time by working at a startup company until now where I have experience in e-commerce and marketing.
In addition to my own success on Amazon, I also teach other sellers how to succeed on this platform through my website and Youtube channel Sourcing Monster, where I share videos about sourcing products from China and running successful online businesses.