Do you want to quit your office job and find a career with high earning potential and work on your own schedule? Amazon selling might be your solution!
Whether you’re just getting started as an Amazon seller or you’re a veteran entrepreneur, you’re likely at the same place if you’re reading this article. You have a business that’s doing well, but you’re having trouble balancing it all. So, you may be wondering, “Should I quit my office job?”
It takes some courage for people to get to this place. After all, jumping in with both feet can be a little bit scary. We’re here to tell you that you can do it.
In this post, we’ll talk you through the process of quitting your job and becoming an Amazon seller. As seasoned Amazon developers, we have a few tried and true tips that can make it easier to begin. Ready to get started?
1. Decide if this is the right step
Are you questioning whether you can make it work? Is it the right step for you? For most considering this, they realize that the earnings potential is higher as an Amazon seller, and they crave the ability to be their own boss. Even better, it’s inexpensive to start the business as well. For as little as $5 per month, you can launch a business that has the potential to earn you 7 figures. Does your office job currently do that? It’s unlikely.
A 9 to 5 job is the norm, but it also comes with a variety of costs. You may be commuting, spending on your wardrobe, giving up vacation time, and spending big on childcare. Think about the perks that starting an Amazon business may offer you. You won’t answer to someone else, and you’ll get to create your own schedule. Furthermore, you’ll constantly be challenged and have the opportunity to excel in something you’ve already decided you enjoy since you’ve been an Amazon seller as a side hustle.
2. Focus your business
If you’re leaving your office job, it means you now have 40 hours to throw behind your Amazon business. Get ready to put those 40 hours (and more!) into becoming a top Amazon seller. When you have a full-time office job, it automatically means that you’re splitting your priorities. You’re not able to focus on your online business because you have to go into work each day. Now that you’ve eliminated that distraction, you can refocus your goal. Dedicate your time and effort to your business and watch it thrive – it may not happen overnight, but it will pay off in the end!
3. Learn the basics of Amazon
You can’t thrive within a system until you understand the system. Amazon is a massive marketplace, and for those sellers who are new to the platform, you’ll want to start by learning about how Amazon works. Here are some basics to take a look at.
- Amazon Selling Models: Most sellers will start with retail and/or online arbitrage. This occurs when you purchase a product from an online or retail store and sell it on Amazon for a profit. However, there are other models such as Wholesale and Private Label. Once you get to know the different labels, you’ll be able to select the best one for you.
- Product Sourcing Strategies: Do research on how you’ll source the physical products you plan to sell. This is of the utmost importance. On a marketplace like Amazon, buyers have numerous choices and can compare reviews and products to no end. The process will also differ depending on which Amazon selling model you select.
- Fulfillment by Amazon: Amazon FBA is a popular way to save time and grow your business. While a product on Amazon may be sold by a third party, it will be packed and shipped in an Amazon fulfillment center. Its goal is to help the seller scale their business and reach more customers. There are fees related to this service ($39.99 a month plus selling fees). Depending on your own abilities, this may be something you’re interested in.
4. Utilize Amazon tools
Don’t think you have to become an expert at selling on Amazon all on your own! Entrepreneurs often use technology to help them learn and improve. There are a variety of Amazon tools that help identity high ranking keywords, optimize product listing, spy competitors, calculate product listing information, and so much more.
Sellgo is one such tool that is a measurable and proven method to achieve better ROI for Amazon sellers. Our profit finder is specifically geared towards helping you find profitable products and investing your money in the right areas. We capture meaningful data points and provide training resources that will help you become more knowledgeable as an entrepreneur.
5. Know your figures (and use them!)
Understanding the calculations you make and the data you collect for your company is of the utmost importance. In the beginning, you’ll be reinvesting your profits to make ends meet. Knowing how much profit you’re making and where you can improve is vital. Investing in software that can help you track your data in a meaningful way can help you save time, effort, and money.
If you’re looking for some estimates on what you may spend and make creating an Amazon store, this information may help.
Start-up costs are low
When you start a new business, start-up costs are always a concern. Fortunately, you don’t have to sweat funding a new Amazon business. All you need to do is sign up for a webhost, which costs $4.95 per month. After that, you can purchase an optional template for your website. These will range in price, but you can expect to spend roughly $20 to $50 depending on the one you select.
Expansion is faster
If you’re not yet sold on an Amazon business as your only path, you may be considering blog writing. It provides many of the same benefits as an Amazon business but doesn’t require you to source a product. Rather, using your own knowledge, you’d create a business and earn money. For this reason, you can see why it appeals to people.
However, successful eCommerce businesses with blogs have long stated that their online stores were far more successful in a shorter span of time than their blogs. The website MyWifeQuitHerJob.com reported that they made over $100,000 in profit in their first year of business from their online store. In their first year of blogging, they may only $100. Amazon businesses are a fast and effective way to start a business – you don’t have to wait long for the cash to start rolling in!
So, what are you waiting for? Quit that office job and get selling! Becoming an Amazon seller is an empowering way to become your own business owner. With these five tips, you’ll be able to grow and develop your brand with confidence. Sellgo is an Amazon software tool here to help you become a top seller. Visit here to learn more.