Selling on Amazon sounds like a big, scary thing, or at least it did to me when we started. It wasn’t really all that hard once we knew what tools to use and found a process that worked for us.
We could have made a ton of more money, but we were lazy and enjoyed working two weeks out of the month and spending the other two weeks doing whatever we wanted. I mean, can you blame us? So, here is what we did.
Week one we spent shopping for books, mostly at library book sales, then printing labels for the Amazon barcodes and packing the shipment to ship to Amazon. At a book sale, we would use scanners to determine whether a book (or other product, although we mainly focused on books) was within our selling parameters. These were the things we considered when purchasing:
- Worth above a certain amount. It had to sell for above $4.60 in order for us to make a profit
- Low ranking. The lower the ranking, the better! Think of it this way: if someone told you they were selling a #1,000,000 best seller book, would you be excited if you were looking to buy something fresh and exciting? Um, no. But if you told them you were selling them a #1 or a #5 bestseller, that’s great, right? So we aimed for under 100,000.
- Buying Price. There were a lot of libraries and thrift stores that sold their books for $0.25 and $0.50 a piece, which was great. But when a seller wanted $1.50 for a book, that was too much and we had to consider that when buying our product.
Just a note: we focused on selling books, which is the model I’m sharing with you, but there are a lot of sellers our there who do something similar with other products. You are not limited to books by any means!
We spent a few days of week 2 making sure RePrice it (which I’ll talk about in a minute) repriced things correctly and then checked our stats. That’s it.
What you Need to become a Successful Amazon Seller
- We also had a subscription to a price software that checked the prices and rankings of products (we used Scoutify, which you can get on iTunes and Google Play these days instead of a scanner)
- Subscription to price changing software (we used RePriceIt)
- Something to track the profitability of your products (I have heard great things about InventoryLab, but we didn’t use them. I wish we had, instead of just guessing about what was really making money and what wasn’t.)
- Another good (FREE!) resource is CamelCamelCamel, it tracks the prices of everything on Amazon, so it’s a good way to see if a product is a good investment.
If you are interested in truly becoming an Amazon seller, then there is a series of 3 free videos from the Selling Family that are really helpful for new sellers. They aren’t my videos, I have been out of the Amazon selling business for too long to give you new, up-to-date information. They also have an awesome post you can find here that talks about how to become an Amazon FBA seller.