This is the episode of the Amazing Seller podcast where you get to ask your own questions and Scott will respond! That’s what you’re going to hear on this episode… real Amazon sellers or potential private label sellers who are just like you, asking questions about the way forward into Amazon sales. Scott answers them honestly, from his experience and from what he’s learned relating to other successful Amazon sellers and running his own business. If you want to ask your own question, you can do that by going to www.TheAmazingSeller.com/ask
I’ve only got $1,000 to get started with. How would you stretch that money as far as possible if you were beginning again?
There are many ways you can get started with building your own business by selling on Amazon. Scott’s not so arrogant as to think that there’s only one answer to the question. But some of the things he recommends are these: retail arbitrage as a way in and a way to get started - and you can do it today! From there you could move toward finding lower priced products on Alibaba or Ali Express to head toward private label sales. In all of this there are a variety of things you can do to trim costs, so be sure you listen to this episode to get the full picture of what Scott advises.
My products are running out of stock. What should I do to address this?
It’s a great problem to have when your products are selling at such a rate that you’re running out of stock before you can get more products in from your supplier. What should you do? Well the first issue you need to look at is your price. Is it possible that your product is prices way too low for the market? In response to this question Scott’s not only going to share a smart way to start increasing your price to discover your ideal price point, he’s also going to give you some other strategies for managing your inventory and keeping products in stock at all times.
You used to use Feedback Genius but have switched to Salesbacker. Can you tell me why you switched and what the differences are?
This listener is correct. Scott used to use and promote Feedback Genius in the early days of his Amazon private label sales business, but he’s made the switch to a different piece of software, Salesbacker. On today’s episode a listener asks what the differences are between the two and why Scott made the switch. Scott’s answer has more detail than we can cover here (so you should listen to his response), but the main reason is that Salesbacker was created for specific use with Amazon private label sales. The features and functions are specifically designed to give sellers exactly what they need in a variety of ways. Check out Scott’s entire explanation on this episode. .
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
[0:25] Scott’s introduction to the podcast! [0:40] A voicemail Scott loves and wants to share to pump you up! [1:24] How you can submit your own questions [4:05] Proof that you can get started with a relatively low amount of cash. [5:43] QUESTION ONE: Is there any way to know the shipping costs ahead of time? I only have $1000 to play with, how can I stretch it as much as possible? [15:10] QUESTION TWO: How should I address the issue of running out of stock? [18:48] QUESTION THREE: Can you tell me the benefits between Feedback Genius and Salesbacker?