Many new Amazon sellers want to quit their full time job and make selling on Amazon their full time income. Is it possible? How would you ever have the time?
Welcome to The Streamer Show. I’m your host Debra Conrad and every show we spend some time together learning how to grow our businesses and keep that growth profitable.
Podcast #12 – Increasing Your Amazon Income When You Don’t Have More Time.
A Bit About My Business – In this weeks show I am discussing how to increase income when you don’t have more time to devote to sourcing.
In my business I’m actually striving for more free time.
When you have your own business – and no kids or other family members that need your consistent/constant attention – you have this expansion of time that seems to get filled up with Work.
I tend to work more hours now than I ever did with a full time salary position and a part time business.
This year – 2015 – I’m striving to swing the pendulum back to normal work load and still keep my income numbers increasing (because I always want to see a steady increase – staying level is kinda boring don’t ‘cha know. 🙂
My biggest hurdle now – is what to do with the free time. I’ve got so many choices of things that I need/want to do – I end up in lazy mode instead.
Yep, that pendulum has swung really wide both ways. Either working all waking hours, or not getting much done at all.
Finding middle ground – a good balance – is where I’m headed 2015 (Until October when all bets are off and we work absolutely as much as we can squeeze out.
How can you increase Amazon sales when you are limited on time?
Do you have a full time J.O.B. – where you head off to work 5 days a week? Do you also have a kiddos or elder family members that need your attention?
You probably also have other daily life requirements, things that just get in the way of working on your Amazon business.
What can you do?
1). Make sure you are selling products with the highest ASP and the highest ROI you can find. Cut out any products that your are sourcing that make you $2 for your efforts. Strive to make at least $10 in your pocket, for every sale.
2.) Source online as much as you can. All other tasks being equal, online sourcing will allow you to source more products in the same limited time frame. PLUS – you can research/source for products in little bite sized chunks.
You are striving to build up a base of replenish-able products. Those products that you can source over and over that just steadily sell. Some may sell one or two a day, others may be one or two a week.
3.) Get away from sourcing clearance. Unless you have found products that are on clearance in a store that is going out of business, or you can source low priced products where you can buy the entire quantity, I’d say that clearance is something you might want to consider shying away from.
Clearance, in the big box stores, is clearance across many stores. It’s the easiest product sourcing area in stores and many sellers gravitate to those clearance signs. I was one of them for several years.
Unless, you are holding the product until every one of the 100 plus sellers that also found that product are sold out, it’s normal to find the price errod to unprofitable territory for a very long while.
Clearance is NOT a replenish-able product.
You CAN make a lot of money buying clearance products, but you will need to be cautious about what you buy, and know the category well. Making deals with store managers (as talked about with Scooter Lofton on this podcast) takes time/effort that you may not have.
4.)Your going to need to start thinking about products that have little or no competition. I sell products (most of them are bundles I’ve created myself) that have been selling on Amazon without competition. I have products that sell over and over – and OVER, that at least double my investment – and many of them are triple or quadruple.
Yep, these products do take a larger time investment than the easy scan/source products. ONCE.
All of the products are sourced online. Now, I push a few buttons and the products show up at my door. I throw the products into a poly-bag, label and ship.
That’s it for today.
You can find this podcast on DebraConrad.com. We also have a huge archive of podcasts on ThriftingForProfit.com (over 95 episodes), where we dive in to a variety of topics that revolve around selling products on Amazon.
All of our podcasts are available on iTunes, TalkShoe and Stitcher.