Link to enroll in the FBA Masterclass program at a 20 % discount and have a chance for a 15 min 1-on-1 session with Benji: https://www.fbafreedomformula.com/a/6452/4Egoxh45
FBA Freedom Formula on YouTube: https://goo.gl/YxN2d4
FBA Freedom Formula website: https://www.fbafreedomformula.com/
Get the jungle scout tool: https://goo.gl/tG2F36
After scouring the internet for passive income streams I decided to take it up a notch with some more high reward methods but still with little risk and costs. And in this day and age there is no shortage of opportunities to create streams of income with minor startup costs. So one of the most popular ways to create an ecommerce business is through Amazon and their fulfilment service mostly due to the simplicity of it. What’s most appealing to me is the it’s location independent and you can operate it from almost anywhere in the world if you have access to a computer with a decent internet connection. So this here is a complete Amazon FBA tutorial and a step by step guide to start selling on Amazon.
I’ve talked before about truly diversifying your investments in order to avoid getting screwed over if the market crashes and you have all your investments as paper assets. Paper assets are great to invest in but shouldn’t be the only asset class to generate an income for you, but should rather be one out of at least four. The three other if you follow Robert Kiyosaki’s advice are commodities, real-estate and owning a business. And the beautiful thing with being alive in this age is that it’s never been more accessible to become an investor in all of theses asset classes even if you don’t have a lot of money.
Right now, the biggest opportunity to build a legitimate long term passive income business is through FBA, Fulfilment by Amazon. The Amazon brand is on track to become the world’s first trillion dollar brand and they were responsible for a staggering 44 % of all ecommerce sales last year. Just think about that for a second. Almost half of the products purchased online last year in the US were bought on Amazon.com.
What most people don’t know is that Amazon don’t sell their own products. In fact they sell your products for you and just take a small fee in return. Basically, this means Amazon are pretty much inviting you to open a store in their mall (the most popular mall in the world) that gets over 180 million shoppers every single month! So this is not a way of making a quick buck the next 30 days, but an opportunity to build a business for the long term that can generate 6-7 figure income if you follow the right steps.
So what amazon has created is simply put convenience for anyone who wants to sell basically anything. if you’re going to sell a product, you won’t have to pack it, send it or even handle customer complaints and potential returns. This will all be managed by amazon and their fulfilment service 24 hours a day 7 days a week. And you’re able to take advantage of this service from almost anywhere in the world as it’s location independent. Which means I can chill in Sweden and write to my supplier in China, or for that matter have my VA write to them, and tell them to send my products to an amazon warehouse in the U.S. Most of the suppliers will be able to provide private labeling and you can put your own brand on there without any hassle for you.
So before choosing what product you want to start selling, you need to know your market. Or more specifically you need to know how big of a demand there is and how much competition there is. And a common misconception here is that you need a unique product that no one else is selling on order to succeed. This might work one time of a hundred but in reality it’s pretty much the opposite. You want to focus on selling something that has already been proven to sell well in a market that’s not too saturated. You need some tools to do your amazon fba product research in order to have have success with it. I suggest using Jungle Scout and Unicorn Smasher.
Let’s make 2018 the best financial year so far!
Life of Riley by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)