Why 2020 is a great time to sell on Amazon!
If you search the web for topics on selling on Amazon you will find those who are trying to sell you courses and then those who talk about the Amazon platform describing all the negative things about it. Reality is, it is their platform they have spent capital creating and managing for several years. My view is a little different, but before I share my view on selling on Amazon in 2020 let me give you a little back ground all why I would have an opinion and why it should matter.
I graduated from college in 1989 and went straight into somewhat of a entrepruener type job. I owned and operated a Chick-fil-A restaurant. From there I went on to have leadership roles in building small companies but always for other people. My last role was super cool and I am grateful to have had it, I was a part of the Zac Brown's, Country music grammy award winning artist, team starting and building businesses around passions of his in every consumer goods product category you can think of. This is where I was introduced to selling on Amazon. I quickly experienced how maximizing your presence on Amazon can drive thousands of dollars in revenue to your brand, WHY.....because Amazon has millions of customers shopping/buying everyday During this time I started a side hustle probably better defined as a hobby of selling items on Amazon. In March of 2020 I was laid off from my job as a result of COVID and the decision while risky was not difficult, we decided as a husband and wife team "Let's go all in on this Amazon/E-commerce business". Why you ask did we make that decision BEFORE we could justify doing so from a cash flow/support the family stand point?
Why I believe selling on Amazon in 2020 and beyond is a great decision:
Thousands of Customers Looking for Products. What other business can you start and put items for sale where there are thousands of customers looking for a product just like you will have created? The answer is nowhere. Just consider, Amazon has become it's own search engine. Check out the chart below from Statista regarding the growth of Amazon over the past 10 years. Early on in my working life I always thought the best business to be in is one where you sit in the middle and never touch a product, well........selling on Amazon has become that exact solution or opportunity.
Cash Flow to Grow the Business. Amazon also allows you to grow your business while using the cash flow generated from sales of your current product. You can start with as little as $20 if you choose, by selling one product at a time and then growing your offerings and the number of products you are selling. This topic is widely debated and discussed. My personal story is one of Private Labeling from the start. I started with about $1,500 but have invested much more than that and even have a capital investor involved allowing us to grow to 17 products in just under 2 years. There is no magic formula for this part of the business and you have to figure out what is right for you.
A business with NO A/R (accounts receivable) and no collections. In several businesses I have done over the years A/R is a huge aspect you have to manage, but with Amazon, they collect and send you payments every two weeks for the products that have sold.
Results Based on our own performance. Have you ever wanted to get paid based strictly on your own ability to learn and execute. Amazon gives you that freedom. You are compensated based on each decision you make and every sell you make on their platform.
Literally Can Work from ANYWHERE that you have internet access! One of the things I like most about this business is getting to work anywhere and anytime I choose. This is not a pitch to work 5 hours a week and earn millions. This is a pitch that if you are willing to learn, work lot's of hours, and be ok with making mistakes along the way, you can do so from anywhere and during the hours you choose.
This information has been provided by Amazonsellershelp.com, a logistics and warehouse company in the USA that helps Amazon FBA and FBM sellers. The company is actually owned and managed by a group who sells everyday on Amazon, Etsy, and EBAY. If interested check out their website.