If you want to sell physical products, you have to have something to sell, and therefore, you’re going to need to find a supplier.
In today’s episode, I wanted to accomplish two things:
- Share my results from the first two weeks of selling
- Give you the step by step process that I used to find a quality supplier
Results From My First Two Weeks on Amazon
I’ve now had my products online for 2 weeks, and have sold about $4K worth.
For the first week, I had only one product in the jewelry category. In the second week, I launched another 4 products; one of which is a bundle that actually contains two related products.
My total investment in inventory so far has been only about $2K because the cost per unit is generally about $1 and I ordered small quantities to mitigate risk.
Product #1, thanks to a promotion I ran on ReviewKick (sold about 85 units at a discount), now has 87 reviews. In total, I have sold 165 units, including the 85 that we sold at a discount. From reviews and sales, I now rank #4 for my target keyword.
Product #2, thanks to a similar promotion, now has 25 reviews. I have sold 70 units in total, and it ranks #1 for its primary keyword.
Product #3 (the bundle of two products) now has just 5 reviews so far, though as I sold 11 on the promo, I would imagine the number of reviews will climb to 11. Interestingly, this product, despite have a low search volume for its keyword, is selling much better than expected and ranks above the fold on page one for a number of its keywords.
On April 21, I turned off all promotions, and thanks to my organic ranking, since then I’ve been selling about 12 units a day. Prior to then, organic sales were only about 3 units a day.
Daily profit right now is about $75-80. Not bad considering the fact that I’ve only been doing this for two weeks! Put another way, I now have a (very) part time job (only a few hours a week), that is paying me $27K a year! (Obviously things can change, but as my products aren’t trendy or seasonal, I expect the sales to remain at least this much, or more, going forward.)
Here’s the key take aways:
1. Put your fear aside and get your first product listed. There is NOTHING more motivating than seeing sales happen every day.
2. As soon as you can afford it, get a second (related) product listed. I would never have guessed that having a second product could have such a strong impact on the sales of the first product.
3. Devote time to product research and always have your next product in the pipeline. Never just “cruise”.
Listen to the Audio
In This Episode, I Share:
- How my business is doing after just two weeks on Amazon (including revenue)
- How I ran promotions to get reviews
- The effect of the promotions on my organic sales
- The mindset that you need to get started
- Where I searched for suppliers for my private label products
- The email template I used to contact potential suppliers
- How to keep your supplier communication organized
- How to order samples and keep them all organized
- The #1 thing to do before you place your first order
- How to pay for your order to ensure you don’t get scammed
- How and where to ship your product and why
Links Mentioned in This Episode
- Company I used to touch up my photos
- Company I’m using to shoot photos for me (more expensive)
- Supplier outreach email template
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