This is my 7-step blueprint to build & scale a 7-figure Amazon FBA Ecommerce business in 2021!
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In this video, I talk about my 7-step blueprint for building a 7-figure Amazon FBA Ecommerce business in 2021!
I also show you a powerful piece of software that I use to analyze products on Amazon.
I encourage you to take notes in your journal as you watch this video. By the time you finish, I want you to have a complete blueprint to sell on Amazon.
My 7-Step Blueprint To Build & Scale A 7-Figure Amazon FBA Ecommerce Business in 2021- Audio file |
My 7-Step Blueprint To Build & Scale A 7-Figure Amazon FBA Ecommerce Business in 2021 - Video transcript |
Hey guys and welcome back to my channel. Today I would like to go over my 7 step blueprint to build a 7 figure amazon FBA ecommerce business in 2021, so be sure to watch all the way through so you don't miss any of the important details as we do have a lot to cover.
Now, before I hop into this video, if you are new to this channel you're going to want to subscribe as I talk about the best ways to make a full time income with Amazon FBA and always get straight to the point.
So please consider subscribing and turning on your post notifications if you like channels that don’t waste your valuable time, with that said let's get right into this video.
Now every successful Amazon seller follows this 7-step blueprint so I encourage you to take out a pen and paper as I am going to share a lot of knowledge with you.
If you have already watched my video on Amazon product research, I hope you went through the brainstorming assignment and came up with some product ideas.
Now, when it comes to product research, don't worry about being perfect. Rather, just focus on making progress. So let's dive into my 7-step blueprint for building a 7-figure Amazon FBA business.
So step number 1 is to find profitable Amazon products to sell. This is the most important step in the process. You cannot simply choose a product that you think will sell.
Rather, you have to do product research to determine if there is a demand for a product. This is what will mitigate your risk. Don't be afraid of the competition. Others have paved the way to show you how much money can be made with a specific product.
When you have the right strategy in place, you don't have to worry about competition. Once you have a list of potential products you are interested in, think about what you can do to position your product in a way that will make you stand out.
This may mean customizing your product so that it's tailored for a specific gender, or making it a different color, size, design or price.
There are so many things you can do with a product that is already selling well. Some markets on Amazon are so big that you can still make an incredible amount of money by being on the fifth page of Amazon for the primary keyword of your product. Once you have your list, narrow it down to your top three products.
The second step you will want to take is to find suppliers to private label your product. Once you've landed on your product, you want to find suppliers who can manufacture it for you.
More importantly, you want to make sure that you can private label your product. You are not trying to invent a product. That is a risk you don’t want to take, especially if you're a beginner Amazon seller. I recommend researching suppliers via Alibaba.com.
On Alibaba you will find a variety of suppliers from different parts of the world. When you search on Alibaba, make sure that you filter your results so that you know that a supplier is verified and has trade assurance, which will ensure that you are protected from any potential scams.
When you reach out to suppliers ask them to send you some samples. You will have to pay for the shipping cost of the sample and when you receive the samples, compare them and decide which one you like best.
Also ask the suppliers how much it will cost to order a certain number of units. When you're first starting out, order a small number of units. I recommend a couple hundred depending on your budget.
With your first product, you want to validate that there is a market for your product. Don't go crazy and over-invest. Try to make a few sales and get some great reviews.
Now, when you're first starting out you won't get the best profit margin. Twenty-five percent is a good number to start with. Try and bring it up to thirty to fifty percent over time.
As your Amazon listing becomes more established and you build up your brand, your profit margin will increase. In turn you will be able to charge more money for your product and order more inventory. This will help to bring down your cost.
Step number 3 on your to do list is to create your branding.
This is the fun part of the process. You get to think of a name for your brand. A brand is a name or a logo that a mass amount of people will recognize and associate emotion with. People don't purchase products, they purchase something that they connect with emotionally.
People are willing to pay a premium based on the feeling that they associate with a brand. A brand is something that you build over time so don't worry about getting it perfect right away.
When it comes to your brand logo, you can hire a designer to create it for you on Fiverr. Or you could go to 99 Designs where you can put on a contest and have designers from all over the world compete to design a logo for you.
A brand will help you build an asset that you can sell one day. That is how you can get a huge payday from your business. Imagine someone buying your Amazon FBA business for $10 million. Trust me when I say that it's possible.
The fourth step on our blueprint is to set up your Amazon listing and shipment. Now, you want to set up your Amazon listing while you're waiting for your product to be manufactured.
Keep in mind that there are costs to set up your Amazon Seller account. It's about $40 per month. I suggest that you wait until you are fully ready to sell your product before you spend this money.
There are over 100 countries that you can sell your Amazon product in. However, I recommend that you focus on the U.S. market. Now, if you live in Europe, the U.K. and Germany are the next two biggest markets.
You will need high-quality product images to have on your Amazon listing, as well as a great title, bullet points and description. Remember that Amazon is a search engine.
You will have to identify the keywords that you want to rank your product for and be able to optimize your listing. If you can do this effectively, your listing will rank and show up for a variety of keywords that people are searching for.
Jungle Scout is a very helpful tool for doing keyword research. I've worked with Jungle Scout for many years now so I left a link in the description if you want to check it out.
So once you've set up your Amazon listing and your inventory is ready to ship, now you can set up the shipping labels inside your Amazon Seller Central account. Amazon will give you the shipping labels and tell you whhere to ship it to.
You will then take those shipping labels, send them to your supplier, and your supplier will ship them. Amazon doesn't like to have all of their inventory at one warehouse. They like to spread it out across the country. Doing so helps them ship products faster to their customers.
They may give you three different locations to send your units to. In terms of shipping, you will have to decide if you want to ship your product by air or by boat. If you ship it by air, it will cost more money but it will be faster. And if you ship your product by boat, it will be cheaper but it will take longer.
Step number 5 is to launch and market your product on Amazon so you get sales.
The Amazon process becomes real when you get to this step. I know a lot of people who have unbelievable Amazon success stories, some of whom are making hundreds of thousands of dollars per month selling on Amazon.
Once you get your first few sales and gain confidence, you will start to see the potential of this business model.
Now, you won't see the results of your efforts right away. It's always slow at the beginning, but it can ramp-up quickly. Amazon rewards new sellers and gives them a boost out the gate because they want you to have success.
When you have success and make money, they make money. It's that simple. This is why having a good launch strategy is critical. You never want to say, “Here is my product, buy it!” A lot of people make this mistake. You need to get people excited and build anticipation.
Decide what date you want to launch your product and plan a pre-launch. Think about how you can get some early traction so that when you hit that date, you will get some immediate sales.
Maybe this means getting your friends and family to buy your product. You could also find Facebook groups and offer your product to people at a discount.
The goal isn't just to make money on Amazon. It's also to get reviews, sales and boost your product on Amazon. You could also contact influencers and ask them to promote your product on a certain date on their Instagram page or YouTube channel.
There are so many marketing strategies to choose from, both free and paid. If you want to run paid ads and get immediate sales, you can do that inside your Amazon Seller Central account.
Also, I encourage you to have a strong marketing strategy. Marketing is a core skill that you need to master if you want to be successful in your business. Pick 1 or 2 strategies, learn and master them.
So let’s move onto step number 6 which is to optimize and improve your Amazon product.
Once you are generating sales from your product there is a lot that you can do optimize and improve it. Doing so will allow you to get better sales and more reviews.
An effective strategy for getting more Amazon reviews is to use a software called Manychat. This is a messaging service created inside of your Facebook messenger app.
It allows you to build a Facebook messenger list and send your customers follow-up messages to get reviews. The more reviews that you have, the easier it will be to sell your product.
If you get some bad reviews, take the feedback that you are given and find ways to improve your product. You can always go back to your supplier and ask them to change or modify your product to make it better.
When it comes to optimizing your Amazon listing, there are many things that you can do, whether it's testing new product images, experimenting with different prices, modifying your keywords or improving your product packaging. This is an ongoing step. You want to keep on improving your product.
Your ability to do this step effectively will determine your Amazon business success. Keep changing your approach and learn from every experience that you have until you get the results that you want.
Now, the last step in our blueprint is to build and scale your brand online.
At this stage, you're building your website and online presence. Maybe you're creating content on your blog or your YouTube channel. You're building an audience and an email list of subscribers and followers.
Once you start scaling your brand you can launch multiple products, build a store and a catalog of products around your brand. This is when your business can scale up to 7 or 8-figures.
When you're scaling your brand it's a smart idea to trademark it via the Amazon Brand Registry so that nobody can steal it from you.
You may want to expand off of Amazon and build an Ecommerce site using Shopify. By selling on your own website you will get better profit margins. If you have the desire to scale even further, you can always expand your Ecommerce business internationally.
As you can see, there are a lot of steps involved in building an Amazon business. Now, I wouldn't recommend piecing together everything that I've shared with you today by simply watching videos on YouTube. This is why I suggest investing your time in a great free training that can guide you through this 7-step process.
I recommend this training because this is the best training on the market and one that I have personally gone through. They walk you through step-by-step, every aspect of what it takes to start, grow and scale your Amazon business.
This training will build off of what I've talked about inside this video so I left a link for you in the description and if you're serious about selling on Amazon I encourage you to check it out!
Thanks for joining in and please make sure to watch the next videos with more Amazon FBA tips that will show up any moment now.
