A New Type Of Investing – Amazon?
So the title might be a bit confusing.
Amazon as a type of investing?
Are we talking about investing in Amazon the company? No.
What we are talking about is investing in their FBA platform with your own products. This is something that anyone can do, even if you never have looked into business or Amazon in the past. But there are 3 elements we recommend if you are to be successful in this industry:
- Capital – You must have $10,000+ to invest in this business model. If you don’t then you simply don’t have the capacity to scale this quick enough to generate a high ROI. If you do have this capital there is no reason why you can’t make 300% a year on SEMI autopilot (more on this in a second.)
- Knowledge – Ideally knowledge of a specific set of products or niche. For example if you are incredibly interested and knowledgeable about ski equipment or baseball or screw fittings, LEDS or ANYTHING. You just have to have more knowledge than most about a niche. This is the niche you will be going into.
- Contacts – As you will be outsourcing a lot of the tasks you will need contacts you trust. You will also need people around you that can do specific tasks related to the business.
The Basic Business Model
Step 1 – Find a product that you can sell on Amazon. This is extremely important and I could write 1000s of words on this process alone. But if you don’t know how to do it, you have 2 options 1.) You can pay someone to do it for you, or 2.) You can learn how to do it yourself. Remember this is a lot of work upfront but once you have your product set-up it is very passive income in the long run!
Step 2 – Create an Amazon account + legal/accounting stuff. I say to do this now as you don’t want to have to deal with this later in your business life. Sort all this stuff out now and you can just worry about your investment later on.
Step 3 – Listing the products and launch processes. As you probably already know Amazon is very competitive. Launching a new product is very expensive and difficult and if done incorrectly you will simply lose money. Here is where I highly recommend you hire an Amazon digital marketing consultant to do it for you. It might cost a few thousand dollars but it will save you upwards of hundreds of thousands in the long run!
Step 4 – Scale – Generate new products and scale the process!
Once set-up you will profit.