Crowdsourcing is a way to circumvent the typical business model of ordering inventory then selling it. But why use crowdsourcing for Amazon products?
With crowdsourcing, Amazon sellers can conduct market research to see if a product idea is viable, bring in customer support and a following, as well as generate purchases—all before ordering any inventory. This removes a lot of the risk of starting your own physical product business selling on Amazon.
Using the techniques and tips shared by Adam Ackerman in this training, you can learn how to select products to sell, set your fundraising goals, market your product on sites like Kickstarter or Indiegogo, and bring money into a new or established business.
Matt Clark talks with Adam Ackerman about how to successfully utilize crowdsourcing to advance your Amazon business—without tying up operating cash flow in inventory order (especially before you know if the product idea will actually even sell). In the video, Ackerman, who has raised millions of dollars for various products, explains how to crowdsource using platforms like Kickstarter and Indiegogo.
There are specific formulas Amazon sellers can use to complete a proper cash flow analysis. Free up your operating cash flow using the techniques Charity DeVries shares in this finance strategy training video.
With this strategy, you will learn:
How to compute your inventory turnover ratio.
Important terms such as operating cash flow, inventory turnover ratio, days-in-inventory, year-end inventory, and inventory in-transit.
Tips for quickly turning over inventory and negotiating with suppliers.
Charity also shares the success she has had—gaining “invaluable connections”—from attending SellerCon, a conference for Amazon sellers that provides up to date, relevant ecommerce strategies to help sellers grow their businesses.
Angie Chacon learned how to start an Amazon business through the online course, The Amazing Selling Machine. Jason Katzenback (Co-founder of Amazing.com) interviews Angie as she describes her rags-to-riches story of going from a single mother, barely able to support her kids, to the owner of a large, successful business.
In this video, Angie shares her Amazon FBA success story, business mindset, mistakes she made launching her first product (and how she remedied it by restudying the ASM course), thoughts on the Amazing Selling Machine training, how she expanded her Amazon business, the tools she leverages, and how she utilizes Amazon FBA.
A friend recommended the Amazing Selling Machine (ASM), Angie took the course, and in six months she was selling $60,000 a month. By the end of the year, she was up to 100k per month, and then 200k a few months later. After two more years, she was selling 500k per month. She now has one brand and sells 40 different products in seven different countries with Amazon.
Eric Toohey learned how to make money selling on Amazon through Amazing.com’s Amazing Selling Machine (ASM) course. Here, he shares his success story while also providing advice on choosing products to sell that follow specific size and weight guidelines (to keep FBA fees down), trademarking your brand to combat brand hijackers, and leveraging the ASM community and mentors to help solve business problems as they arise.
Mike McClary and Eric Toohey came together on Facebook live to share Eric’s journey from unsatisfied home remodeler to a million dollar seller on Amazon. After taking the Amazing Selling Machine course, he and his wife, Sadie, began their business in June of 2014 by selling one product. Within three weeks, Eric quit his job to focus on their Amazon business full time. They now sell 21 products through their brand on Amazon.
Amazing.com reviews how to sell on Amazon for beginners. Danna Belo got her start selling physical products on Amazon through Amazing.com’s internet-based course, the Amazing Selling Machine (ASM). ASM is an Amazon seller training program that shows sellers the step-by-step process of how to start an Amazon business, from the ground up.
Having no prior experience, after 5 months of starting her business Danna had already generated $130k in sales. In this video, Danna reveals business management tools she uses (like Google sheets, Google docs, WhatsApp, and other ASM-recommended apps), the struggles she went through after launching, and tips on choosing high quality products to get better customer reviews. She also gives viewers a valuable tip on creating a Facebook event with an audience of past customers.