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Selling on Amazon: Supercharge Your Budget! Successful Strategies on How to Sell

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Selling on Amazon

Supercharge Your Budget!

Successful Strategies on How to Sell on Amazon and Earn Extra Cash from Your Home

Table of Contents

 

 

Introduction

Chapter 1 – Why Amazon?

Chapter 2 – What Can You Sell On Amazon

Chapter 3 – Researching the Market

Chapter 4 – How To Sell On Amazon

Chapter 5 – Individual or Pro: Which Way To Go

Chapter 6 – Setting Up Your Seller Account

Conclusion

 

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Copyright Notice

© Copyright 2015 by Nia Robbins – All rights reserved.

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Disclaimer

While all attempts have been made to verify the information provided in this book, the author does not assume any responsibility for errors, omissions, or contrary interpretations of the subject matter contained within. The information provided in this book is for educational and entertainment purposes only. The reader is responsible for his or her own actions and the author does not accept any responsibilities for any liabilities or damages, real or perceived, resulting from the use of this information.

Introduction

Starting an online business is an extremely attractive opportunity. Many people have made a lot of money from this type of business, and as such, many have fallen face first into the trap, often blindly going where nobody has gone before, sure that it will work! While risks are great, and the old adage, risk takers are moneymakers, rings true often times, it is often calculated risks that show the most dividends.

Amazon is a remarkable platform for an online business. They have a proven model, and a great support system, ensuring that provided you do the groundwork, and provided you have a viable product that fills a need in the market, you will enjoy success. Making money by selling on Amazon is easy. Selling on Amazon can also be extremely difficult, if you do not plan thoroughly for every possibility in your business.

That is the purpose of this eBook. You will learn valuable tricks that guarantee success, if applied correctly. You will learn the rules of the game, and how you can bend them or tweak them to guarantee that you enter the market strong, and that you enjoy longevity with your business.

With an online business, you enjoy a lot of freedom. You can also get bogged down with the details of running your business from day to day though, that your time starts to feel like it is no longer your own. Therefore, you need to get it right quickly, as soon as possible in fact, so that you iron out all the wrinkles before they become real problems for you. This book will help you with this.

Granted, there are many other online platforms that you can use to push your product. And while these have their own specific benefits, none of them come close to Amazon, with its holistic approach to your success. That is the huge difference with Amazon they have your success as a core motivator for being in business. After all, if you succeed, then they succeed, and your success means an increase in revenue for them as well.

Why choose Amazon, then, apart from the obvious your success is our success stance? There are many reasons for this. These are outlined in the following chapter, to give you details as to why Amazon is the best choice for your online business. After this, we will get into the details of how you can start your online business with Amazonand advice on products that work, and products that don’t. We will take a holistic approach to selling on Amazon that works, because it has worked for other people, but also because it is based on sound principles.

So, why Amazon…

Chapter 1 – Why Amazon?

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Firstly, Amazon is the world’s largest online retailer! And in the world of online retail, size really does matter. You will have access to an extremely large customer base, one that is unparalleled by any other retailer, and whether your selling books or other items, placing your items strategically before this audience, you will have access to their spending power, provided you convince them to buy your product!

Selling items that you no longer need often resulted in messy garage sales or shady deals with pawnbrokers, but not anymore. For a while now, Amazon has pioneered the sale of these items, and they have grown exponentially, right along with the internet. Choosing Amazon is therefore a very strategic decision, like placing the items you wish to sell in a large retailer with lots and lots of sales traffic.

Since 2000, Amazon has increased in the number of sales, probably due to the increase in customers. More and more people have access to the internet today, and as such, more and more people are looking to buy products that they want and need online.

Amazon is one of the first places that people look when they are seeking items, but more so, if you have a product that you think will sell, or one that you are not sure will sell, you can test the waters for free on Amazon. This is an unusually easy way to set up an online business, and apart from the cost of inventory, it is mostly free.

You really have nothing to lose!

Another reason for choosing Amazon is their catalog. You can list all your new products on this catalog and make them available to your potential customers at the click of a button. This catalog is outlined in a user-friendly manner, and there are many categories and subcategories, ensuring that you list your product appropriately. Listing your product in the right place puts it in front of people who are actually looking for that specific product!

Need we say anymore?

Amazon will also handle all you shipping and fulfillment needs. The Fulfillment by Amazon service is one of their best kept secrets, and it handles every aspect of shipping your product, and fulfilling the sales promise you made to your customer. Customer Service is also a critical component of running your business, and Amazon even takes care of this for you.

You can also sell products in both the USand Canada. You will have absolute control over what you sell, and where you sell it. You will also be able to manage your online business from one Amazon seller account. This brings the amount of people that you will need to employ down to one, just you!

Bulk listing and reporting tool share also at your disposal. The Amazon Marketplace Web Service provides you with these tools, tools that are essential to the successful management of your business. You will be able to monitor your business growth and see what products are moving and which aren’t, making it easier for you to plan your business going forward.

You will also be able to customize your shipping rates on some of your products. You can also offer special promotions and gift wrap options on some of your products. Books, music, DVDs, videos, video games and software are not included in the list of products, to which these offers are applicable, but there are so many other products that you can sell on Amazon, and your products probably don’t fall into these categories, that this shouldn’t be a problem.

These are all reasons that you should make Amazon your number one go to place for setting up your online business. Besides the items listed that you cannot customize shipping rates for, and the items that you cannot offer special promotions on, or special gift wrap options, just what can you sell on Amazon? Some of these things might surprise you…

Chapter 2 – What Can You Sell On Amazon

With access to hundreds of millions of customers, Amazon is really the world’s largest online retailer. With so many people visiting their site every day, you can be guaranteed to find a buyer for you specific product. While it stands to reason that you can buy almost anything on Amazon, some categories have guidelines that you need to, as the seller, adhere to.

Let us now break down what you can sell on Amazon, and the guidelines associated with certain category items.

You can sell on Amazon as an individual, or as a professional. There are many open categories, more than 20 in fact, that you can sell on as an individual or professional. For professional sellers however, you can apply for approval to sell on certain closed categories. To break this down further, Open Categories are comprise of most things, from baby products and books, to music, musical instruments and home and garden accessories. Closed Categories, or categories requiring approval, include 3-D Designs, beauty products, and collectible coins and books.

What are the most popular open and closed category items that you can sell on Amazon?

Popular Open Category Items:

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p<>{color:#000;}. Amazon devices accessories, whether they are new, used or refurbished


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p<>{color:#000;}. Used Amazon Kindles


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p<>{color:#000;}. New Baby Products, including nursery items and general gear as well as feeding product, but NOT apparel


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p<>{color:#000;}. New or used Books, Magazines, Journals, Calendars, Card Decks, Sheet Music and Other Publications


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p<>{color:#000;}. New, used and refurbished Cameras, Camcorders, Telescopes and Cellphones, unlocked


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p<>{color:#000;}. New, used and refurbished Consumer Electronics, such as TVs, CD Players, GPS and Car Audio


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p<>{color:#000;}. Home and Garden Equipment, such as Furniture, Bedding, Pool Supplies, and even Generators


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p<>{color:#000;}. Personal Computers, including Desktops and Laptops, as well as Drives and Storage Devices, new, used and refurnished


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p<>{color:#000;}. Sports Equipment, including hunting accessories, exercise and fitness equipment and Game Room Supplies


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p<>{color:#000;}. New and collectible Toys and Games

There are many other items that are on this list, and some of them might be more successful than others, depending on your local. You need to do research on the need, and assess your ability to meet this need, before you decide on a product that you want to sell. This research is discussed in a later chapter though!

Popular Closed Category Items:

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p<>{color:#000;}. Only New Beauty Products, including fragrances, skincare products, hair care products, bath and shower products, and makeup


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p<>{color:#1C1C1C;}. Collectible coins and books


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p<>{color:#000;}. Collectible sports and entertainment items, including trading cards and autographed items


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p<>{color:#1C1C1C;}. Collectible Fine Art


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p<>{color:#1C1C1C;}. Jewelry and Watches


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p<>{color:#1C1C1C;}. Wine

This is not an exhaustive list too, and there are a few other categories. But these are the most popular items, in terms of easy to sell, easy to move, and also the high return on the sale value.

If you have a unique product that you would like to sell on Amazon, you need to just check the list of categories and see if your item fits into it. If not, check the guidelines, and see how you can fit your product onto the Amazon catalog.

Now that you know what items it is possible for you to sell on Amazon, let us get into the nitty-gritties of how to sell on Amazon. Let us first see how you can decide on what product you should sell, and why!

Chapter 3 – Researching the Market

You might be lucky, and have a product that is in demand in the marketplace at any given time. Trading cards, autographed items, collectibles like coins or books, and other similar items, are in constant demand, all over the world. The United States has a long history of trading baseball cards and autographed items, and as such, these items usually fetch a high price in this country.

However, you may have access to other items on the categories found on Amazon, but you are not sure whether there is a market for your product, specifically in your immediate area. You will then need to conduct a bit of research into the behaviors and buying patterns of your potential customers. Regardless of the fact that there are hundreds of millions of people buying on Amazon, you need to focus your efforts and direct your energies if you are to are to get your slice of this market.

The good news is, you just need a very small slice of this incredibly large pie to make for a successful business. The bad news is, you will need to put a little bit of work in so that you can secure this slice. Here are a few pointers on how you can make sure that you acquire this share, and hold on to it!

The first and obvious step is deciding what you want to sell. What you want to sell and what you can sell are two very different things. The reasons for this are remarkably distorted, however. What you want to sell are the items that you can have access to, at a discount price, and sell at a profit. What you can sell are items that you already have on hand, in your possession, which you can sell at a profit. Both of these items can seriously boost your budget, and their sale can either get you out of debt or a temporary financial slump, or you can turn it into a viable, profitable business.

One of the best ways to assess the viability of your online business, if you want to start a business, is to use tools like Terapeak! This tool gives you an overview of up to a year’s activity on online sites like Amazon. You will have access to real trends, real competitors, and real category statistics that will affect your business on a daily basis. But these are all tools that are useful if you are using Amazon for an online business, one that requires you to have your finger on the pulse of market activity.

Let’s take it back to basics now though, because after all, you want to know how you can use Amazon to make money and boost your budget. The following chapter covers the details of how to sell on Amazon, and set you up for success!

Chapter 4 – How To Sell On Amazon

How you sell on Amazon is straightforward! Really, it is! The real question is, if there are customers who want to buy what you are selling.Yes, there are hundreds of millions of potential customers on Amazon, but not all of those people are looking for what you are selling.

Now that you have made peace with this fact, and you have caught your breath, let us talk you through how you actually go about selling your stuff on Amazon!

There are four basic steps:


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p<>{color:#1C1C1C;}. You upload the listing

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p<>{color:#1C1C1C;}. Make sure your product appears on Amazon.com

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p<>{color:#1C1C1C;}. You ship the products to your customers, or you let Amazon do it for you

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p<>{color:#1C1C1C;}. Amazon transfers payment to you

These four steps sum up selling on Amazon. As straightforward as they are, there are some details that you should be aware of, and that you should have a grasp of however, before you start making money. Here is a breakdown of selling on Amazon:

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p<>{color:#000;}. Once you have registered as a seller on Amazon, something which is covered in the last chapter, you need to make a choice. You need to decide whether you will handle the shipping of your product, or if you will let Amazon do it. Using the FBA or Fulfillment By Amazon service means that you don’t have to worry about shipping, customer service, communication, returns or refunds.

Amazon will take care of all of this for you. While the fees are higher, these higher fees are offset by the cost of boxes and other shipping material, which is a part of the service. This will save you a lot of time, time that you can use in other aspects of your business.


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p<>{color:#000;}. As with any business, there are rules, and you need to follow the rules if you are to have any hope of playing successfully in this market. Rules and policies are there for a reason, and you need to familiarize yourself with these. Amazon does not change its rules often too, so these are easy to learn and understand!

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p<>{color:#000;}. Understand and WIN the Buy Box! When a buyer searches an item on Amazon, they receive several results. The page that comes up once the buyer clicks on one of the results in known as the buy box . Over 78% of sales are made through the buy box, according to Amazon. It is therefore crucial to your success that you win the buy box.

Three ways of winning the buy box are to be the lowest price including shipping, to sell an item that no one else has, or to use Amazon’s Bundling Policy to create unique items.


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p<>{color:#000;}. You MUST answer customer communications quickly! Amazon wants you to answer questions from customers within 24 hours, or risk getting demerits on your account. Customer questions are uploaded to your Seller Central, and you can set it up so that these questions are emailed to you. This way, even if you are not working on Amazon, you will receive these questions, and with smart phones, you can answer them straight from your phone.


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p<>{color:#000;}. All orders must be shipped within 1business day, if you are fulfilling this function yourself. Always enter the tracking information too. It is a requirement of Amazon that you state all handling times, and that you meet these expectations with all your products. You can lose your feature seller status, or even your account, if you don’t.

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p<>{color:#000;}. Be wary of UPC codes when listing items. It is your responsibility to ensure that the item you are selling corresponds with the item listed on Amazon. Manufacturers have the tendency of updating products with new features, without changing the UPC code. Avoid returns and bad feedback by ensuring that you are selling the exact item as listed on Amazon.


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p<>{color:#000;}. Give an accurate description of your product! Customers notice the smallest difference in the product you have described to them and the one that they are holding in their hand. Avoid returns and negative feedback by being accurate in your description.


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p<>{color:#000;}. Don’t be shy to ask for feedback! Buyers don’t usually leave feedback unless you ask them. Use a tool like Feedback Five, which automatically sends emails to buyers that say that if there is anything wrong with the transaction, you would like a chance to fix it. It also contains a link that the buyer can just click on and leave you with feedback!


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p<>{color:#000;}. Always follow the image guidelines as set by Amazon! Images should be at least 1006 pixels, to allow for buyers to use the zoom function. Log into Seller Central for a full list of image guidelines.

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p<>{color:#000;}. Do your best to solicit product reviews!If someone leaves you positive feedback on a product, then you should send them an email with a link where they can review your product. Positive product reviews can increase sales by 12%, according to Amazon.


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p<>{color:#000;}. Use Just In Time Inventory Management to reduce storage fees. There is a feature on Amazon called Replenishment Alerts. You know how long it takes for you to get a product delivered to you, and for you to get it to Amazon, so you can set alerts for number of units or weeks of cover. When the product reaches its specified limit, Amazon sends you an email.


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p<>{color:#000;}. Raise your Average Selling Price! This reduces your fees and increases your profit margins. Two FBA fees are the Order Handling Fee of $1, and the Pick and Pack Fee of $1.02, totaling $2.02. If you sell an item for $12.99, then these fees together make for 15.5% of your margin. Selling the same item for $27.95 means that these fees are just 7.2% of your margin. I’m sure you get the picture.


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p<>{color:#1C1C1C;}. When sending items to FBA, LABEL THEM CORRECTLY!

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p<>{color:#000;}. Make sure to mitigate and remove negative feedback! Email customers who give you negative feedback immediately, apologize, and even offer them Amazon gift cards!

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p<>{color:#1C1C1C;}. Pack your shipments correctly, to avoid damage, delays and penalties!


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p<>{color:#1C1C1C;}. Be proactive in the management of your inventory!


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p<>{color:#1C1C1C;}. Use Amazon FBA for multi-channel orders!


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p<>{color:#1C1C1C;}. Aim for exclusive selling arrangements with your suppliers!


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p<>{color:#1C1C1C;}. Become an expert at the Amazon Keywords Tools!

If you learn the above steps, and follow them diligently, the selling on Amazon will be a breeze. It will become pleasurable, and you can focus on sourcing and supplying better products, or expanding your current range. Get these basics right first, and your business will grow exponentially!

Now you know how to sell on Amazon. Let us now get you started. Before we do though, let us discuss briefly the difference between the two selling statuses on Amazon. They give you the option of being an Individual or a Professional Seller, and here is a short discussion on the pros of being a professional!

Chapter 5 – Individual or Pro: Which Way To Go

There are two main selling plans on Amazon. You can either sell as an individual, where you can sell less than 40 items a month, at a cost of $o.99 plus other selling fees. This is the way to go if you have a few items that you want to sell, with no view to establishing a longstanding business. Selling as a professional means that you have unlimited sales, from 40 up, at a cost of $39.99 per month plus other selling fees. This is certainly the way to go if you intend to set up a business, and really give your finances a much needed boost, for long, sustained periods!

Chances are, if you are looking to start selling on Amazon, you want to go big, or go home! Well, technically, you can go big and stay at home, but that stands to reason! Now, selling as a professional has a distinct advantage, and it stands you in much better stead than selling as an individual, if of course you have a large inventory, and here follows a discussion of some of these advantages!

Now, individual sellers tend to be free from selling fees, except for the commission that Amazon takes from each order, and professional sellers are fee-based. You can offset this fee though, by pricing your product just right, so that the cost of sale absorbs the $39.99 fee. Selling even one or two products over 40 at $2.99, for example, makes the basis of a very profitable business.

So, as a professional, you will have access to more categories, meaning that you will have access to more customers, who are looking for more products. For a small fee, you will have full reign of the Amazon platform, and you will be able to use the site to its fullest potential. Selling as an individual might work for smaller inventories, or for once off items. But if you can get your hands on large stock reserves at a competitive price, then take the plunge, register as a Professional Seller, and start to build your way out of your current financial situation, and towards true financial freedom.

The final chapter is a discussion on how to register on Amazon. Once you have mastered how to sell on Amazon, this is the next step, and in fact the first step, in your journey towards a supercharged budget, financial freedom, and the freedom to live your life the way you want!

Chapter 6 – Setting Up Your Seller Account

Setting up your Seller Account is easy. In fact, it is the easiest step to establishing yourself as an online seller. The following steps are broken down in everyday terms, so that you can do it by simply following the steps that are outlined below. Ready? Here goes:

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p<>{color:#1C1C1C;}. On the Amazon Homepage, find the “Your Account” dropdown menu, and click on it. This is located under your name on the right hand of the page.


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p<>{color:#1C1C1C;}. Click on the “Your Seller Account” button, found near the top on the right column of the menu on the page.


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p<>{color:#1C1C1C;}. Click on the “Start Selling” button. A new page will open, and you can then choose the type of seller that you are. Depending on which seller you want to become, you can click on the “individual seller” or the “professional seller” button. The advantages of going professional are discussed briefly in the previous chapter!


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p<>{color:#1C1C1C;}. You must now type in your relevant information. This includes your credit card information, seller or business name, and your billing address.


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p<>{color:#1C1C1C;}. Verify your phone number by clicking the “call now” button after typing in your phone number. Type in the 4-digit into your phone after receiving an automated call.


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p<>{color:#1C1C1C;}. Then you click “register and continue”!

And that’s it. Seriously, that is as easy as it is. Following this, you create a listing. Here’s how you do this:

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p<>{color:#1C1C1C;}. Log into your account.


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p<>{color:#1C1C1C;}. Search for the item you wish to sell by selecting the category and choosing the one that best fits your product.


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p<>{color:#1C1C1C;}. Click on the “sell yours here” button, once you have located your product.


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p<>{color:#1C1C1C;}. Select the condition of the item you intend to sell.


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p<>{color:#1C1C1C;}. Add a condition note. This is a note specific to your exact product.


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p<>{color:#1C1C1C;}. Select a price for your item.


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p<>{color:#1C1C1C;}. Select the quantity of the product that you have on hand.


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p<>{color:#1C1C1C;}. Select your shipping method.


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p<>{color:#1C1C1C;}. Click “submit listing”.

Then you need to pack and ship your items. You should receive orders relatively quickly, and you want to be ready to fulfill these orders. Here is a quick breakdown of how you can fulfill these orders.

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p<>{color:#1C1C1C;}. Go to your seller account.


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p<>{color:#1C1C1C;}. Click the “view recent marketplace orders”. This option is found under “managing your orders”!


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p<>{color:#1C1C1C;}. Locate the orders.


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p<>{color:#1C1C1C;}. Verify the status of the order is complete, meaning that your item is ready to be shipped.


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p<>{color:#1C1C1C;}. Access the order details page.


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p<>{color:#1C1C1C;}. Verify your method of shipment.


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p<>{color:#1C1C1C;}. Print your packing slip and address label.


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p<>{color:#1C1C1C;}. Package the item.


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p<>{color:#1C1C1C;}. Mail the item.


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p<>{color:#1C1C1C;}. Confirm the shipment.


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p<>{color:#1C1C1C;}. Receive payment!

You will then have successfully completed your first order. Now you just need to do it again, and again, and again, and pretty soon, you will have built a kick ass side business, one that could very quickly become your main business, depending on how committed you are to it.

You will need to manage your account. You can do this by visiting your seller account, where you will use the following links regularly:

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p<>{color:#1C1C1C;}. View Your Current Inventory


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p<>{color:#1C1C1C;}. View Your Orders


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p<>{color:#1C1C1C;}. View Your Payments Account

You can change or add to your account information by using the “seller account information” link. This can be used to update any information that may be relevant for your buyers or for Amazon. If you are wondering about a specific order, use the search box to locate it.

When your item is sold, you will receive an email from Amazon, with the details of your order. Know that popular items will usually sell in a matter of hours, so you need to reread this book, and see how to research items that sell on Amazon. If, however, you have a unique one of a kind item, you might strike gold, or you might strike out. Be prepared for either eventuality.

Keep an eye on your ratings and feedback. This is valuable, after you have sold an item, and the more ratings you have, and the better they are, the more likely you are to attract customers to you. You will then sell more items, and make more money. Take the time to work through this book, and get the basics right, because only then will you be in a solid position to turn your products into that much needed, and much wanted, extra cash!

Conclusion

So, whether you are looking to sell a few items that you no longer want, or you are looking to start a serious online business, selling on Amazon is certainly worthy of consideration. You have seen from the preceding chapters that this is relatively easy, once you have the details in place. You need to be sure that you have an item that is actually in demand, or if you can afford to, take a chance on a new product. Either way, you could profit greatly from taking the risk.

There is really no such thing as a quick buck, and selling online is no different. However, Amazon puts you and your product in front of hundreds of millions of potential customers, increasing your chance of making a sale exponentially. With a little determination though, and a lot of patience, you can, and probably will enjoy a measure of success.

The more you familiarize yourself with the guidelines and procedures on Amazon, the more likely you are to reap the rewards of this platform, and the rewards can be rather phenomenal. Take the time to get to grips with these rules first, therefore, and you will be prepared to sell almost anything on Amazon. Sales are the lifeblood of any business, and customers are essential to drive sales. All these factors come together beautifully on Amazon, and they work together for your benefit. Reaping these benefits is the purpose of using Amazon to sell your stuff, and it really will supercharge your budget.

Making extra money is truly possible, and you can do this from the comfort of your own home. All you need is a computer with a reliable internet connection, and a product that you think people will be interested in. Take the chance on products that you believe in, and you will soon find that this home-based hobby will soon become an essential part of your monthly income. Profits are possible with Amazon, but get the basics right, read this book several times, apply the tips and suggestions in it, learn the rules and guidelines, and you will be well on your way to enjoying these profits


Selling on Amazon: Supercharge Your Budget! Successful Strategies on How to Sell

Do you find that you cannot come out at the end of the month, with far too much month left at the end of your money? Are you looking for a solid way to augment your income, to boost your budget, so that you have money that you can actually save? Have you spent a lot of time looking for work from home opportunities that really work, and not the outdated and often unethical ones that are plastered all over the internet? Selling on Amazon might be just what you are looking for. This is not a get rich quick scheme, or one that promises overnight success. But with a little determination, and a product that there is actually a demand for, then this is the perfect online business for you to start. Chances are you will not see success quickly with your online business. However, it is the same with any legitimate business opportunity. Work through the steps outlined in this eBook however, and before you know it, you will be reaping the rewards of the disciplined application of your efforts. How you sell is almost as important as what you sell. This book will give you insights on what products make for a good business and how you can leverage sales techniques in such a way that they result in phenomenal success.

  • ISBN: 9781311884336
  • Author: VAGABONGD PUBLISHING
  • Published: 2015-10-22 16:20:25
  • Words: 5236
Selling on Amazon: Supercharge Your Budget! Successful Strategies on How to Sell Selling on Amazon: Supercharge Your Budget! Successful Strategies on How to Sell