Amazon needs no introduction. It is by far the largest online retail marketplace in the world and it only keeps getting bigger. Amazon offers business owners to start their tasks of buying and selling in the online marketplace. But not many people are aware of how you can do business in Amazon. Some of them do not even know that you can start a business on Amazon. You may also like to read eBay Business Account
Starting an Amazon Business
There are basically 7 steps to start your venture and get it up and running on Amazon. The steps include:
- Setting up your Amazon account
- Selecting the product niche
- Research about the product
- Establishing your product sourcing
- Establishing your brand
- Creating your listings
- Marketing your products or items
The seven steps along with plenty of fruitful tips are listed below for your convenience. You can come back to them and think about how should you use each and every step while setting up your business on Amazon.
1. Setting Up Your Amazon Account
Firstly, to get your business started on Amazon, you need to open a seller account. You might choose to start with developing your product or service and leave this for later, but if you are absolutely serious about starting your business right away, you should start by completing this step.
First of all, go to Amazon’s website and go straight to the bottom. There you will see some footers for the page. Select the option ‘Make money with Us’. After that choose the option ‘Sell on Amazon’. Click on this link. Then, you will be redirected to a seller’s page and you can continue from there. Just follow the straight forward directions. It is very intuitive.
2. Selecting the Product Niche
This can be the hardest step in opening an Amazon business. That is because if you are just starting, you will feel like you can sell anything you can come across. But business really does not work that way. You actually have to start off with a particular niche. You can’t just go around selling products of every category. Although you do have the opportunity to expand in the future. But start off slow, it will definitely help.
Firstly, think about the categories you know you can absolutely make a profit off. They can be anything. Do some research on diverse products you would be able to sell in that specific area. Note down which product falls under which category.
This is where you start narrowing down the lists. Do not give a broad idea to your customers, rather you should be extremely brief and specific. For example, if you are keen on selling gardening supplies, don’t label them under ‘Garden Supplies’, rather list the specific tools you will be offering.
If you follow these steps on specializing your niche, you will be able to get a head start and won’t find yourself stranded. You will also gradually learn how to advertise your products properly. Your business will gradually go on to becoming a hit.
3. Research About The Product
You have to do a bit of research on the products that you want to sell. This is exactly where you get to know the various niches and the customers you can cater to. You can have all the passion for the product you want to sell, but that may not resonate with the buyers on Amazon. So do your research carefully.
4. Establishing Your Product Sourcing
After you have set up your product line, the real fun part begins. Now you have to establish your product sourcing before you can go on and start listing your products.. This process takes a lot of time and patience. You need to look for a reliable provider who will get you the goods with the highest quality.
5. Establishing Your Brand
This is one of those steps that you can get done while you are setting up the business account. But since you cannot really access it before getting your first batch of products that you want to sell, you should probably leave it for later. Remember, your products need to absolutely ready to sell before you go through this step. You can make your brand recognizable to people by making it unique and adding a few personal touches. This way people will recognize that the product is from your brand.
6. Creating Your Listings
You are almost done. By now, you have already established your account, your brand and the first batch of your products are ready to sell. You’re done with the major part of setting up your business. Now you need to list your products. Utmost creativity is absolutely necessary for this particular step.
You have to make sure that you list the products in the order of the appeal it has. The initial products have to appeal to potential customers. You will have to list them in such a way that the customers will be able to make intelligent buying decisions. This is a major step and how much you will earn will practically depend on how you list your products.
7. Marketing Your Products or Items
Now comes the part where you have to intelligently sell your product. If you have impressed potential customers with your product listings, it’s probable that you already have it figured out. Your customers will actually reinforce your business by recommending your products to others. Besides, since your product is already listed on Amazon, the largest online marketplace, you will definitely get some incidental sales.
What you have to do to further this inflow of sales is advertising. More and more advertising will get more people to learn about your products and, particularly, your brand. So be sure to create a unique image of yourself so that people will actually be drawn to buying your stuff.
In conclusion, if you properly follow these steps, you will finally be able to set up a business on Amazon. It is not rocket science and it is quite easy to get started. So what are you waiting for?