How Selling on Amazon Turned Around My Finances

I managed to pay off debt and increase my cash flow by selling on Amazon FBA. Great resource!

Over the years, I’ve had my share of financial ups and downs. When things have been bad, I’ve always fought hard to get back on my feet. Obviously one of the best ways to do that is to start making more money.

Obviously this is easier said than done. I don’t mean to imply that we can all just snap our fingers and increase our incomes. But, I’ve found that there are ways to increase our income that are easier and have a greater chance of success than others. One of those ways for me was selling on Amazon.

I got started selling used books on Amazon many years ago. Back then, I simply was selling some of my own personal library. Actually, old textbooks were my main focus. Over the years, I would sell a book here and there on Amazon. It was never a serious business back then, but it helped me bring in extra money at times.

A few years ago when I was in a particularly bad financial slump, I started looking into Amazon selling again and that is when I discovered FBA. FBA, or fulfillment by Amazon, is where you send products to sell into Amazon’s warehouses. When someone buys the items, Amazon does all the work for you. They ship the product, they take the payment, and they handle the customer service.

I soon learned that people were making a killing doing this. People were going into retail stores like Walmart and Target, buying things (sometimes on sale, sometimes not) and then sending them to Amazon to sell at 25-100% markup. After Amazon took their fees, they were still clearing a good amount of money. In fact, there are some people who actually have rented their own warehouses to handle the large volume of items they buy and send to Amazon to sell. These people are easily clearing 6 figures a year in profit. Not sales, but actual profits.

Now I never wanted to be that big. I have never rented a warehouse or done that kind of volume. But what I did do, is dip my toe in the Amazon FBA waters. And what I found is that because Amazon is so huge and they have such a huge customer base, that it doesn’t take much work to sell on there. Unlike selling on your own website, you don’t have to do any advertising or worry about search engine traffic or social media marketing. All you have to do is learn how to find the right products in the stores right in your town, label them according to Amazon’s instructions, send them in.

Let me be clear about something though. There is a learning curve. I do not mean to imply that you don’t have to learn anything or that you can just choose to sell anything and make a fortune. There are plenty of things that are NOT good things for you to send in to Amazon. What I am saying is that if you do a little homework, you can crack the code and you can make money.

stinebookI know many of you want to know how to get started. Well, I have a great resource for you! Cynthia Stine has written a book called Make Thousands on Amazon in Ten Hours a Week. It details how she turned $200 into $40,000 in gross sales in her first year on Amazon. And she also walks you through the whole process of getting an account on Amazon and everything. She tells you what tools you need and where to buy them. And she details how to find inventory. It’s been updated recently to ensure everything is still accurate.

If you buy the book, you also get a ton of free reports and bonus items including:

Kindle*, Nook and PDF versions of the book
FREE month of ScanPower List – one of the critical technology tools for an Amazon business. A $39.95 value!**
FREE month of InventoryLab – a robust listing program combined with inventory analytics and bookkeeping. A $39 value!**
FREE eBook from eBay PowerSeller and Amazon FBA seller Skip McGrath 44 Free Wholesale Sources. Not simply a list of wholesalers, these are the companies that Skip works with. He provides detailed information on each source.  When you are ready to add wholesaling to your mix of inventory, Skip’s book is a great introduction.
FREE e-copy of Nathan Holmquist’s Selling on Amazon’s FBA Program – the book that first opened my eyes to the power of Amazon’s FBA program
FREE 7-day trial to Frank Florence’s Book Sales Found service. For everyone who is wondering “where do I find great inventory without a lot of other dealers around?” this service is a great place to start. Author of Creative Sourcing, Frank Florence’s service was created to help sellers go where others aren’t. After the trial, the service is $19.99 a month if you choose to continue.
FREE report from seller Jessica Larrew on how to bundle products for sales success on Amazon created exclusively for my book readers. Jessica started part-time, transitioned to full-time and then made so much money her husband was able to quit his job.  Now they work the business together in about 25 hours a week (each) and have plenty of time to play with their child.
FREE eCommerce business startup checklist from Scott Scarf of Catching Clouds eCommerce accountants and virtual CFOs. A concise yet thorough list of what to do to get your online business started up properly.
FREE Lifetime membership to Cynthia’s FBA Library which not only hosts your files for easy 24/7 access, but also contains a wealth of downloads, links and resources related to successfully selling on Amazon.com. The FBA Library is a constantly growing resource for you.
FREE updates to your materials.
Exclusives only available to her FBA Library members.

 

I highly recommend that if you are serious about earning some real money in a fairly fast way, that you consider Amazon FBA. And right now is actually the perfect time to start because we are gearing up for the 4th quarter. The 4th quarter of the year (October through December) is HUGE for Amazon sales. People are Christmas shopping during those months and Amazon is where millions of people go.

If you buy Cynthia’s book and dedicate the next 3-4 weeks to studying FBA and getting all set up, you could have inventory hit the Amazon warehouses before that October 1 start of the fourth quarter. Depending on how much inventory you are able to send in, you could feasibly make several thousand dollars before the end of the year. It all depends on how much money you can spend on inventory, and how seriously you take the process of learning what to buy. Let me reiterate, not everything is good for FBA.  You need to learn how to figure out what to buy and Cynthia’s book helps you with that.

To learn more about Cynthia’s book, please click the image below. Let me know if you decide to go for it!

stinebook

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Comments

  1. Wow I never knew amazon had this. Thanks for all of the great information! This is very intriguing!

    Brooke | http://www.beautydecorandmore.com

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