MIAMI, FL / ACCESSWIRE / October 13, 2020 / Brick and mortars are shutting down left and right, rapidly transitioning into click and orders. It's evident that we are witnessing one of the largest shifts in the history of how business is conducted. With the world we live in, an online income has become close to necessary. The Amazon marketplace has always supplied an outstanding opportunity for individuals to create a successful online business.
When Zeke Pike first got started with his Amazon dropshipping business, he was competing for a spot in the NFL. Zeke's lifelong priority was making a name for himself in the NFL, however, the money coming from his Amazon stores quickly became hard for him to ignore. He realized he had a real business in front of him that couldn't be passed up. In under 12 months, Zeke was able to create a multiple 7-figure business creating and managing Amazon stores for investors looking to create passive income. We had the chance to sit down with Zeke as he shared his 4 important tips to scaling an Amazon business.
Zeke emphasized that "It all comes down to product research. You need winning products to succeed on Amazon."
1. Be Thorough
Before deciding to add a product to your store, you must do intensive research. Analyze enough products so that you can narrow down to a single product that stands out from the crowd, one that will give you the best chance of success. There are many factors that come into play when adding products to your store, and different products will stand out for different individuals. You just have to weigh out the opportunity available for each product during your development phase and understand which products supersede the rest.
2. Consider Your Cash/Credit On Hand
How much cash do you have to spend? A lot of individuals will start Amazon with the vision of a million-dollar store, but it does take money to make money in this business. Initially, you must set goals depending on the available cash or credit available to you. Not only that, but you must also choose your products in relation to how much cash you have on hand for inventory. There are two incredibly important categories you MUST look at. Cash Flow and Profit Margin. The reason you must constantly think of cash flow is because you need to understand how much inventory overhead you have so you can fulfill your orders. As for-profit margins, this is important to think about, so you know the ROI (return on investment) for every single purchase. It is highly recommended that for at least the first 6 months, you reinvest your profits to reach your desired scale.
3. Use the Tools Available
The beauty of Amazon vs. other marketplaces isn't just the fact that it's the largest online marketplace in the US, but it also has some amazing features that most people don't know about. Amazon's product's subcategory allows you to see how the market responds to a product that is already selling. Do your research, and find the best Amazon softwares available to help you track and scrape Amazon for the best available products. In order to scale an Amazon store, you must see your time as valuable and find your way to automate time-consuming tasks.
4. Use the Right Research Criteria
You need to be able to understand what you can price your products at, depending on your cost and what the market price is currently. Monthly sales potential is equally important to understand the scalability of that product listing, you don't want a one and done product!
These tips are extremely important to consider when diving into your own Amazon business. The fact of the matter is scalability comes down to the products you're listing. It's no secret that running an Amazon business has a ton of moving parts, and that is exactly why Zeke developed his system to develop and manage stores for his clients. For more information, visit his website here, or contact him via Instagram.
CONTACT:
Zeke Pike
Email- zeke@ezautomatedecomm.com
Instagram- https://www.instagram.com/zeke.pike/
Website- https://www.ezautomatedecomm.com/automation-2
SOURCE: BrandBerry Unlimited.com
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