I going to start an amazon business or am I just going to continue in my existing employment or maybe you've seen another potential business opportunity as well you're trying to decide between them so the first question.
I want you to ask yourself and that is what do you want amazon fba to be for you what do you want to achieve with amazon fba so for me when I discovered amazon fba it provided an opportunity or a stepping stone.
I think is my favorite way of looking at it for me it allowed me to move away from my current business the business I had at the time and transitioned to a more of a passive style income stream but also provide a stepping stone to be able to get involved in other passive income streams that probably.
KNOWLEDGE ABOUT AMAZON
At the time I didn't have either the knowledge or maybe necessarily the money to actually take on those other passive income streams so amazon fba provided that stepping stone for me now if you're looking for amazon fba to allow you to quit your job that's certainly possible.
Would I advise you to quit your job off the back of amazon fba no because you're effectively getting in bed with the devil Amazon does not care about the sellers and you just need to be aware of that upfront however there's still a huge opportunity?
There and that is why many of us amazon fba sellers put up with all the negatives that come with being a seller because the opportunity is so great so if you are looking for amazon fba to be one of those things where you can start it set up the business then pack up your job and have amazon fba.
As your sole income source, I would recommend against that approach so if that's what you have in mind I certainly wouldn't advise that however if you've got an existing job um and you're looking for a side income stream or maybe an income stream that will surpass.
Your current income stream which amazon fba can certainly do then that can provide a stepping stone to change your life.
So for me, I had a web design business I then transitioned over about I think it's about 18 months into two years from my web design business into amazon fba fully but at the same time throughout that journey, I also recognized that Amazon couldn't be fully trusted you know they were too fickle.
I received an email from someone in I think they're in holland who said to me their account has just been suspended because they've been connected with another account that account in question was my account so we both knew for a fact our accounts.
Were not connected yet this guy's account had been suspended and he's going through the process at the moment of trying to get unsuspended.
And there's no one you can pick up and call it amazon yes you can call first-line seller support but the teams that will make a decision about whether to unsuspend your account you can't reach those on the phone so it's a very it's not a great situation to be in.
And I think it's absolutely shocking that amazon allowed this to continue and if you go onto the amazon forums.
You'll see lots of stories from people who have had their account suspended from being wrongly accused of being connected to other accounts and this is just a prime example of seeing it firsthand when someone's being told.
They're connected to my account and us going through this week and comparing all of our details to ensure there was no connection it's absolutely shocking so something to be aware of.
I'm not trying to kind of put you off amazon altogether I'm just trying to make you aware that it's not all roses you know there's certainly a huge opportunity and you can make life-changing money there's no doubt about it.
I've done that it's allowed me to change my life with what I've achieved on amazon but it does not come without risk.
And you should only take it on with the right kind of platform in place as to what you want to build on and also what you wanted to achieve for you so some people for example will start the amazon business they'll set up for a year or two.
They'll get it to the point where it's making a very good revenue and then they'll sell it and they'll cash in and then maybe they'll start again or they'll start additional revenue streams and that is certainly an approach that is worth.
THINKING FOR STARTUP
Considering but don't go into this with the idea this is 100 replace your existing income so you can quit your job because I don't think that no I don't think you ever want to put yourself in a position where you're 100 reliant on amazon.
If I hadn't started amazon fba so look at it as a platform that you can build on to make changes to your life and if you're wondering.
Whether there's still an opportunity with amazon fba just look at their sales figures from last year so in the UK alone the sales were over 20 billion now obviously the news article was covering the fact they've paid hardly any tax on that.
I mean if we take this over to the percentage calculator you can see here 500 million as a percentage of 20 billion gives them an effective tax rate of 2.5 percent now obviously they got very clever accountants to reduce their profits.
So they can do that but most of us who have got limited businesses are paying 19 corporation tax this year.
So it is a bit goal to see this figure and some of you guys might be aware that a year or two ago the government introduced a digital services tax so that these companies are taxed on their revenue guess what amazon.
Did they passed it straight on to us fba sellers and put it on top of our fba fees so again I'm talking bad of amazon but the opportunity is very real.
You know as long as you know who you're getting into bed with and know where they should fit in within your own life and your own risk management and again amazon is not for everyone it certainly isn't but the opportunity is huge.
And when I know many people and you can only go and go on to youtube to see this or go into the fba elite forums and talk to people are changing their lives with.
I think if you gave yourself three months for a product that you're going to fly in that is reasonable so if you started now or start September October November December I would probably actually say look if you're looking to start an amazon fba business at the moment.
So with the view of launching your product in January or February and the reason I say that is trying to launch a product in December will be much more difficult as demand will be higher.
As you have to remember although there are many metrics taken into account with the amazon algorithm when ranking products the key metric to ranking higher within the search results is the number of sales you make versus the number of sales.
That your competitors make so if you're going into a niche where on average throughout the year maybe you need to sell 200 products to be ranked on the first page.
If that demands doubled in December that means you've got to sell 400 products to have a chance of getting ranked so it'd be much easier to launch in January and February when demand will probably be back to kind of the lows.
You'd expect to see it throughout the year so keep that in mind if you miss q4 this year it is not the end of the world and actually it's an opportunity to make it easier for you to start your amazon fba business and the other thing if you take a few months.
CONCLUSION
It'll give you chance to get that trademark application in so as soon as you start selling on amazon you can apply for a brand registry and protect your products as much as possible I would try to avoid selling on amazon.
Without a trademark without a brand registry as it leaves you open to hijackers and other people jumping on to your listing.
It gives you an insight as to what to expect if you are interested in amazon fba make sure you go to the resource section on the fbaelite.com website sign up it's completely free and on here we have the ultimate amazon fba checklist.
This is a completely free download that gives you all the things you'll need to go through to start an amazon fba business
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