With hundreds of videos & articles on how amazing Amazon FBA is being uploaded on to Youtube every single day, it’s hard to know who’s telling the truth, and who’s just trying to sell you a dream in exchange for you buying their course.
If you’re thinking about starting Amazon FBA as a side hustle, or just want to learn more about it , then here are some truths for you to know before you begin (which should answer the question ‘Is Amazon FBA A Scam?’)!
Amazon FBA Is Not A Get Rich Quick Scheme
Whilst the gurus might lead you to believe that starting an Amazon FBA business is going to reward you with lambos and bags of cash within months of starting, that’s not the case – not immediately anyway. Yes it is possible to earn substantial profits selling your own products on Amazon, but it’s not an overnight process – it takes time, effort, and commitment, especially if you want to avoid making any costly mistakes.
I’ve been selling on Amazon for 4 years, and whilst my business generate 5 figures of monthly profits now, it took over a year of constantly learning and improving to reach that point.
The sooner that you can adopt the mindset that an Amazon FBA business is a real one that requires the same care and attention as any other type of business, the more motivated you’ll be, and the more likely you’ll actually stick to your goals, start selling, and start the journey towards building a substantial monthly passive income.
It’s Important To Reinvest Your Amazon FBA Profits Where Possible
On the topic of making profits, if you want to scale your Amazon business as quickly as possible, then you should know that the more profits that you keep and reinvest, the faster you’ll grow.
Many people look to start an Amazon FBA business with the hope that they can immediately quit their jobs and give the middle finger to their bosses, but the ironic thing is that the quicker you do that, the slower you’ll grow and the more likely it is that you’ll have to go grovelling back if you want to continue growing as fast as possible on amazon. In the early days when you first start selling, you should see your 9-5 as a way to fuel your 5-9 side hustle’s growth.
The more money that you keep in your business when you start selling, the more firepower you’ll have to reinvest in more stock, ultimately meaning more growth and profits in the long run!
When I first started selling on Amazon I didn’t take a penny out for at least a year, and that was just to repay myself for the loan that I made for my first stock order. Since then, Ive not taken anything out the business, and that’s what’s allowed me to scale to £140k per month from an initial £3,500 investment in under 4 years.
You Need Money To Make Money With Amazon FBA
This might sound obvious… but you need to have money up front if you want to succeed with Amazon FBA, with the ideal amount depending on what type of Amazon business you want to create. If you want to start off by selling other brand’s products – so online or retail arbitrage, then you’ll need at least £100 to make the levels of profit worthwhile.
However, if you want to do private labelling – so selling products under your own brand and building an asset that you can eventually sell to an investor, then you’ll need to have at least £1,500 ready, to invest in stock and create a branded offering that customers are desperate to buy.
Many people start Amazon FBA with online arbitrage – so buying a product from one site and then selling it for more on Amazon, ultimately ending up with private label given its far easier to scale. Both though will require some sort of cash investment, so if you don’t have at least £100 to get started, you’ll need to raise some funds – either through your job, selling stuff from around the house on eBay, or putting any skills you have to use in exchange for cash on sites such as Fiverr and Upwork.
You Don’t Need Experience To Start Amazon FBA
A common concern that I hear from people, is that they think they need some form of experience to start an Amazon FBA business, which is completely untrue. I created a brand that now generates 7-figures a year on Amazon, and I started it with 0 experience and no creative skill whatsoever, in fact, I was constantly bottom of the class at school in art and design because I was so bad.
Running an Amazon FBA business isn’t actually difficult at all once you know what you’re doing, and getting to that point just requires you to stay focused and committed to making your business a success. All of the tools and knowledge needed to create a 7-figure Amazon FBA business are available online, so don’t let a negative mindset that tells you you’re not good enough or you lack experience put you off. Just sit down, go through my Youtube or free introductory training webinar, set yourself realistic goals, and then take action.
Be Prepared For Amazon FBA To Send You On A Rollercoaster Of Emotions!
Being an entreprneuer has its ups and downs…
Some days you’ll be feeling top of the world, and others you’ll be questioning why you even started.
Running an Amazon FBA business is a bit like being on the world’s biggest rollecoaster – it can feel absolutely incredible when youre at the top and you’re making lots of profit from the thousdands of strangers buying your products, but then that feeling can quickly dissipate if a customer leaves a bad review, or you get a load of refund requests, or seller support decide to make your life hell. So if you’re going to give Amazon FBA a real go, you need to be a problem solver and somebody that has a thick skin and can roll with the punches. As Dolly Parton rightly said it, if you want the rainbow, you’ve got to put up with the rain!
Conclusion
As someone that’s sold on Amazon since 2018, I can without a doubt say that having an Amazon FBA business can absolutely be lifechanging and give you a monthly passive income stream, but, it does require hard work, determination and for you to make short term sacrifices. If you’re all good with that, then there’s no reason why you can’t be a huge success, so if you want to learn more about it, then check out my free training to begin your journey!
If you want to learn more about how I launched a new Amazon FBA product and took it to £50,000 in a month, check out this article here.
