Did you know that most people who start their first Amazon business fail?
Although failure isn’t a bad thing in business, it’s good when you can be aware of the mistakes others have made to boost YOUR chances of success!
Starting a new business is exciting.
You put all your energy, your time and your money into your new venture – and when it doesn’t work out as you’d hoped, you feel crushed.
Unfortunately, many people never try again.
And this is incredibly common. I’ve seen more new Amazon businesses fail than succeed – including my own!
I’ve noticed that the majority of these fail because of just 2 simple reasons. So, if you’re thinking of starting your Amazon FBA journey – or you’re a wily veteran who’s still making mistakes – take note and improve your chances of success!
1. No one wants to buy their product
As a new seller on Amazon, your product is EVERYTHING.
I hate to sound blunt, but if the customers aren’t interested in your item, they’re not going to give two hoots about your brand name, cool packaging, or anything else.
I’ve seen too many newcomers expecting to sell the cheapest thing they can source without any market research to find out what the customer actually wants.
If you’re just looking for a quick buck and want to sell the cheapest thing you can, then Amazon FBA probably isn’t for you – you’re never going to be able to compete on price with bigger retailers who are selling directly from the factory.
2. They give up too easily
Building a successful business, like losing weight or keeping in shape, is a long game.
Millions of Australians struggle with losing weight. We know exactly what we need to do to drop those pounds – eat fewer calories than we did before.
We’ve all been there. You start with a new diet plan, you replace the chocolate and fizzy drinks with fruit and water, you find a bunch of great, low-calorie recipes online…
Everything’s great for a few days, even weeks, but as soon as you hit a road bump, you have a bad day or you’re bored/tired, you order a pizza and demolish that leftover birthday cake.
All the hard work you put in has gone in the trash along with the empty pizza box.
The same applies to starting an Amazon business.
It’s common for a new seller to dive in all guns blazing. Their expectations are sky-high, they’ve read nothing but success stories since day one of their journey.
They’re convinced that they’re going to be a huge success and make lots of money.
And when it doesn’t happen immediately, or they hit a bump in the road (poor sales, a bad review, a supplier delay, etc.) they simply give up.
Setting up an Amazon business is relatively easy, but building a successful one is anything but. Many of the sellers who gave up when the going got tough could have grown incredible businesses IF they had just been persistent and worked through the hard times.
There’s nothing more exciting than starting a new Amazon FBA business. But, to finally reap the rewards of your hard work and sacrifice, you need to keep in mind these two reasons so many others fail.
Thanks for reading and good luck!!
Hugs and kisses