what is up YouTube family in this video
we're going to be going over the five
most common mistakes which cause 99% of
new Amazon sellers to fail and more
importantly we're going to talk about
how to avoid them so the next five
minutes could literally save you
hundreds of thousands of dollars and a
whole lot of pain so grab some popcorn
this is going to be a good one
[Music]
all right so let's get into common
mistake number one which is not doing
proper due diligence when it comes to
sellers find out the hard way that
Amazon does in fact enforce the law and
if you go out there and try to buy five
hundred units of a product that is
trademark has a copyright or a patent
and try to sell it on Amazon Amazon will
shut down your listing and saying that
other sellers are doing it is not a
valid excuse because they will
eventually get shut down by the
trademark copyright or patent holder and
so to combat this what I recommend you
do is actually do a trademark search on
the USPTO website oh it's very easy to
do or you look on Google patents before
you actually sell a product doing your
due diligence on whether or not there is
intellectual property rights associated
with the products you're thinking about
selling will potentially save you
thousands and thousands of dollars and
more importantly your valuable time and
energy because trust me when I tell you
there is nothing more devastating than
getting the dreaded email from Amazon
saying that your listing has been
suspended due to intellectual property
rights infringement and so I hope this
past 60 seconds could potentially save
you thousands of hours of time and
potentially thousands of dollars of a
wasted product and common failure reason
number two is expectations when it comes
to budgeting and expenses as you
probably know there's been an onslaught
of all these new gurus popping up
everywhere telling you about all of
their experience on Amazon and sometimes
giving really poor quality information
and what this does is it gives a false
idea of the actual realistic amount of
money that it takes to get started the
right way selling on Amazon Amazon is a
real business plain and simple and most
businesses take money to get started the
largest expenses related to starting
your business on Amazon are of course
buying the unit's right cost of goods
sold and shipping and then it's also
smart to factor things in like you know
your expenses for product photography
and having a safety buffer just in case
anything weird happens like at Chinese
customs and just lots of little things
that don't often pop up but can pop
down the road as an Amazon seller and no
matter what anyone tells you out there
the actual realistic amount of money to
get started selling on Amazon is about
three thousand dollars yes of course you
can get started with more money yes it
is possible to get started with less but
it's very difficult to get started the
right way and not cut corners if you
have less than three thousand US dollars
to get started and while some people get
needing three thousand dollars to get
started on Amazon might seem like a bad
thing to me actually I think of it as a
good thing because it keeps most of the
competition out right things like
Shopify that costs almost no money to
get started have a massive amount of
saturation because it's so easy to get
started the competitive barrier to entry
that is needing around 3,000 or more
dollars to get started keeps out a lot
of the people that create a lot of the
saturation with other business models so
unfortunately if you've heard someone
else out there some other guru or a blog
post or somebody that you've heard about
that's an Amazon seller and they teach
Amazon and they've told you that you can
get started and create a full time
income on Amazon with $100 they're just
straight up lying to you it
realistically takes 3,000 or more
dollars to get started the right way to
have enough money to pay for your
product to pay for shipping to pay for
things like product photography done the
right way and then on top of that if you
actually want to purchase a course you
know that teaches you step by step how
to do things a ton of different mistakes
to avoid right because just one mistake
with Amazon PPC or choosing the wrong
supplier or choosing the wrong product
can cost you tens of thousands if not
more dollars down the line and so most
of the time if you actually purchase a
course from the right person who's going
to be transparent and not lie to you
it's going to end up saving you a ton of
money through the connections they have
through the discounts to all the common
software and services and things like
that and realistically it can take 30 or
more days to actually start to see a
return on your investment of getting
started on Amazon right creating the
products take time shipping the product
takes time and if you ship via sea right
that 30-day number can actually go up to
60 days or more because it actually
takes time of course to ship your
products from China by sea all the way
to the United States load them into the
United States port and get them into an
Amazon FBA warehouse to actually start
fulfilling your products so that you can
start to make
and I always see people just over using
software yes there are a ton of
different pieces of software for Amazon
no you don't need all of them right I've
seen pieces of software that are $100 a
month that just help you calculate
profits right you don't need that type
of software unless you're like a six or
seven even like a high seven-figure
seller right there's only literally
three pieces of software that I use in
my Amazon business to this day you know
having run multiple multiple millions of
dollars worth of products sold on Amazon
those three pieces of software are
something for product research to find
new and profitable products to add to
your portfolio right something to do
keyword research and PPC research and
then a service or tool to launch my
product to page one right and those
three things that I personally use are
viral launch product discovery and
market intelligence which will be down
below in the description with a 30%
discount for you guys I also use number
two which is zon keywords gon keywords
com that is the tool that I use to do
all of my keyword research to create my
listings to do all of my PPC research
and there will be a 50% off discount
down below for that tool as well the
discount code is black belts 50 and you
can put that in and there'll be 50% off
it's the best deal in all of the Amazon
software ecosystem and then tool number
three is called page one if I page1
ify comm and this is the tool that I use
to actually launch my products to page
one which sometimes can be the
difference between being successful on
Amazon and failing all of the other
hundreds of different software tools and
services out there they say that you
need them but those are the three tools
that I use and I don't need any other
software personally to run a successful
Amazon business reason for failure and
number three is what I like to call
decision paralysis this is one of the
biggest killers in the success of
entrepreneurs in general it's not unique
to Amazon it literally happens with
every different type of entrepreneurial
venture right what you'll what you'll
see happening is that people will get
decision paralysis and what this means
is when there's multiple different
decisions it's much harder to actually
make that decision think about it like
this when you go to the grocery store
and there's one brand of cereal and you
want
it's a very easy decision you get it and
you move on but if there's a hundred
different types of cereal and if you
don't have a favorite type of cereal it
takes much more time to actually make
that decision because there's a lot of
factors to weigh and things like that
and with product research right there's
always at any time literally millions
and millions of different products that
you could potentially sell on Amazon and
so what I've seen happen to thousands of
people you know in my in the Amazon FBA
ninjas group which is the largest Amazon
community in the world there's over
almost a hundred thousand of us in that
Facebook group if you guys haven't
joined make sure you check it out it's
an amazing amazing resource Amazon FBA
ninjas what I've seen from just
thousands of people in the group and my
followers on YouTube and things like
that is decision paralysis they see all
these different opportunities and
because there's so many different
opportunities of products to sell and
things like that they end up doing
nothing there is never and will never be
a perfect time to become an entrepreneur
just like there is not ever and will
never be the single perfect product all
it is is knowing how to do product
research the right way doing your due
diligence on product research knowing
what to look for knowing what to avoid
and then simply jumping in based on that
data and we're not going to talk about
exactly what that is in this video this
is more of a video on common mistakes
but if you do want to learn more about
what criteria to look for when it comes
to product research and doing it the
right way we will have a free training
down below where you can learn more
about how to find successful products on
Amazon and in the training I'm going to
be showing you as an actual product that
I currently sell that generates over
thirty thousand dollars per month but
the critical part about all of this is
once you know the criteria and how to
objectively evaluate the data doing your
due diligence on products you have to
take action because again there's never
going to be a perfect product and
there's never going to be a perfect time
to start on Amazon you have to just get
started after interpreting the data and
doing your due diligence when it comes
to finding the perfect product for you
common reason for failure number four is
reinvesting profits and understanding
how to properly do inventory forecasting
which at the end of the day basically
just means how many units to actually
buy and when to buy them Amazon like
most businesses has what is called a
cash
cycle and what I mean by that is you
have to actually pay for your products
upfront in bulk at heavily discounted
prices and then wait for them to be made
and shipped which can take you know
anywhere from 30 to 60 or even more days
depending on how you actually ship them
whether by air or by sea and so what
that essentially means is that you are
floating that cash for the entire time
that it takes to manufacture and ship
your products which is why it's so
important to be aware of how to properly
do inventory forecasting and properly
budgeting for your orders
keeping in mind having to restock and
future orders and to really build a
super profitable six or seven figure
Amazon business within a year it's very
important that you reinvest almost all
if not all of your actual profits from
the original products that you sell to
continue adding additional profitable
products to your product portfolio so
like all businesses guys cash is king
and you need to be aware of your cash
flow cycle so that you can purchase new
inventory and invest in new products to
keep your cash flow strong and common
reason for failure in number five and
probably most importantly is what I like
to call lack of value and we're going to
get into the number five really quickly
but before we do super quick I wanted to
give a big shout out to our daily
giveaway winners and we're giving away
thousands of dollars of cash and prizes
and a bunch of fun stuff and if you want
to enter and beat our next shout-out on
our next video all you have to do is two
simple things tap a little like button
and then enter below if it takes like
nine seconds enter our giveaway the link
is right here always to do is click that
enter it take nine seconds to do and you
will officially be entered to win a
brand-new MacBook Pro and a bunch of
other fun prizes so number five is the
key to basically everything when it
comes to creating a successful business
which is value and again because of you
know some very low value gurus out there
and blog posts and people teaching
Amazon there's this misrepresentation
and misinformation that you can elope on
Fiverr slap it on a thousand garlic
presses ship it into Amazon and expect
to retire in your Lamborghini in Fiji
next week but unfortunately that is just
not how it works and I'm not saying that
that's never how it works because
literally a few years ago I knew some
people that sold umbrellas on Amazon FBA
and we're making millions of dollars
doing it
but Amazon like all business models
evolves and to make money and be
successful on Amazon nowadays you
actually have to add value so how do you
do that well there's a lot of ways to do
that some of the ways that I like to do
it is look at the negative reviews and
improve what the commonality of those
negative reviews are saying right so if
they say the products too big or too
small or too breakable or has bad
packaging you improve that you create a
more valuable product I like to look for
products that I can bundle with other
products to make a more valuable set
right I like to look for ways to improve
products and actually create more value
and added value to the end
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