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Wednesday, July 23, 2014

Deciding Between Amazon's FBA Program and Fulfilling Orders On Your Own

So you followed my previous posts and turned your hobby into a successful business...now what do you do with all of the inventory that keeps coming to your house?
Do you rent a warehouse and begin shipping the orders from there or do you use Amazon's "Fulfillment by Amazon" (FBA) Program to fulfill your orders and store your inventory?

There are positives and negatives to each choice of course, and it depends mainly on how much inventory you plan on stocking, the type of products they are (are they large and heavy, or are they small and light?)  These are some of the questions you need to be thinking about when deciding between the two options.

Also, are you going to make this a serious business, or still just a glorified hobby of sorts?

If you are truly doing a great deal of sales, let's say more than $50,000 in revenues per month at a minimum, then you should start to consider renting office space or warehouse space if you want to fulfill the orders on your own.  I say office space, because if your inventory is not that large, you may be able to store it in your office instead of renting a warehouse.  You will only need a warehouse if you have a large operation in place, where you are fulfilling thousands of orders per month.

I would recommend that you use the FBA program through Amazon in most cases, as it gives you the ability to just worry about the products you need to purchase and merchandising, instead of having to worry about fulfillment of orders, renting a space to do that from, hiring staff to do the shipping, and so forth.  Lots of other issues come into play when you choose to fulfill the orders on your own, and in the end, you may not even save any money doing so -- as in most cases it ends up being less expensive to allow Amazon to fulfill your orders...or at least most of them, for you.

As I mentioned before, there are items that may be heavy or too large for Amazon to fulfill in a way that is cost effective for you to bother using the FBA program for, so in those cases I would recommend either not selling the product, or if it is really worthy of selling, than try fulfilling it and stocking it at your home/office/warehouse.

If you want to learn more about how to set up your own warehouse operation, feel free to email me at: amonfet@gmail.com and I will be glad to guide you through the process.  I have established warehouses and fulfillment operations on very small scales, and also on much larger scales, so I will have no problem getting you set up from scratch.

Thanks for reading!

Wednesday, March 27, 2013

7 Days to eCommerce Profits

What do you think about this as a book title? I am looking to publish my own Kindle book on Amazon about starting and running an eCommerce business (from day 1 onward guaranteeing profits within 7 days). Please submit to me via email or comments what you think would be some good ideas to write about. Right now I will be covering:

• What your one-time and recurring costs are likely to be.
• The best shopping cart software for you based on your skills and knowledge.
• How to choose the right credit card processing company.
• 30 questions to ask any prospective e-commerce site designer before you hire.
• How outsourcing works and why it's easier (and cheaper) than you think.
• The right way to do keyword research.
• How to assess the competition in a niche so you don't waste your time.
• Winning the SEO game on-page and off.
• The best free and paid tools for SEO.
• How to set up Google Analytics to track visitors and conversion.
• How to build an email subscriber list and run email campaigns free.
• The 12-point checklist for a high converting checkout process.
• How to get your site indexed in the search engines quickly.
• 12 questions to help you create a customer avatar.
• 50 things you must test before you open your site.
• How not to lose your shirt on paid advertising.
• How to drive massive traffic through Facebook, Twitter and Pinterest.

Tuesday, March 26, 2013

Creating the Infamous Product Inventory File for Upload to Amazon

So I know you've been on the edge of your seat now for the past few days just waiting to learn just how to create this inventory file that I kept hinting at and referencing. Well the time has finally come to learn how to prepare it and then upload it onto Amazon so that your products will be listed for sale, once and for all.

I am going to show you a series of videos that were created to teach you the entire process. If after watching these videos you still have questions, feel free to ask. These are all available to you once you sign up for an Amazon account too by the way, which of course you will need to do before you start preparing the inventory files (even though you can obtain them without an account, I recommend signing up with Amazon at this point in time for a "Professional Account."

The Professional Account allows you not to pay Amazon a fee for every order except for the standard commission for each category which ranges in price from 7%-15% depending on the product category you are selling in (most of them are 15% though)...so if you have yet to factor that into the prices you plan on selling at, I would do so now, otherwise you may be losing money on every sale!!

In this first video, you will get an introduction to creating a product inventory file. Please watch here:


Now that you have a brief overview, check out tutorial video #2 to learn about product images:



Now check out the next video which will discuss product information and the importance of it when preparing your inventory files:



For more information about product templates it would be a great idea to watch this video:



Product variations are when you have a product that has either color or size variations (for example different colored sneakers).  In these cases, you need to learn a special way to create the product inventory file.  That said, product variations are a very important thing to learn, which the following video will cover:



Only two videos left, I promise!  The second to last video is about product categories and their importance to the creation of the product inventory file.  The video will explain how to set them up in the file, and also why they are important to get right:



Last, but certainly not least, as this is the MOST important part -- learning how to upload the inventory file to Amazon!  Check out this one minute video of how to do just that:




Now that you have gotten the chance to see how an inventory file is created from start to finish, what are you waiting for??  Start preparing those inventory files and upload them to Amazon today!

If you have ANY questions, please feel free to email me at:  amonfet@gmail.com

Thanks for reading/watching,

Anthony


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Monday, March 25, 2013

You've Sourced Your Product Inventory, Now What!?

Well, I hope you just read my last several posts about where to source your product inventory, and I hope you have now decided on just how you will get the products that your customers will end up purchasing. If you have chosen to purchase them wholesale and send them to FBA, congratulations as you have already graduated to the big-show! But if you decided you wanted to play it safe and try out dropshipping first, don't despair, you are well on your way to great success as well!

No matter which avenue that you choose to go down on your path to success, if you are determined enough and business savvy, you will get there. Heck, even if you forget about the business savvy part, and just follow MY advice, I will get you there!

Okay, so now what do you do? You set up your business, got the products you want to sell by sourcing them through Doba, or through the suppliers from World Wide Brands. And now you have to prepare a "product inventory file," right? So what is an inventory file, what is its purpose, and why should you care? All three are good questions.

A product inventory file is the file that you will get from each supplier that you establish a new account with and it will provide you with all of the information that you will need in order to list your products for sale online. Obviously you are not just going to list them one by one, as that would take you forever! So, every vendor who offers dropshipping will have an electronic way of sending you their product information. Generally speaking, this is going to be an Excel file, or a comma or tab-delimited .txt file which you will open with Excel.

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So after you figure out just how you will be receiving this file every day from each of your suppliers (generally you download it from their website or have it emailed to you), you will take that file to update the inventory quantities for each product that you are selling. Some suppliers will keep a good static inventory (where it will be the same daily), while others may have 5 of something one day, and then none the next.

The way I deal with this, is I take whatever they provide to me and subtract it by a certain number (let's say 5 for example), so that I give myself some leeway in case they sell out before I update my files again (which you should do DAILY). But if you give yourself a buffer, you will rarely ever have any stock-outs, and thus have more satisfied customers (which is priority number one!).

I will post an entry tomorrow about just how you actually set up a product inventory file from scratch, which is not an easy task, but once you learn it, it is something that will make you a LOT of money! I will teach you some very good secrets that you can't find anywhere else -- believe me, I've looked!

So you have the products you want to sell, and now you have the product inventory file from the supplier, and all you have to do now is create that data file, or outsource your work to Inventory Source, right? If so, you are ALMOST THERE, and just one step away from listing your products for sale on Amazon and beyond! How exciting! Check back tomorrow to find out how to create that data file.

Thanks for reading,
Anthony
amonfet@gmail.com

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All about Doba: Why You Need It When Starting Out

I hope you all have gotten the chance to review my last couple of posts about Inventory Source and World Wide Brands Directory. Now that you have an idea of what they are about, and how to use the basics to them, I wanted you to get the chance to learn just why you need to use Doba, and also to get a sneak preview of their platform.

First, check out this video that explains why you need to use Doba. I used a friend of mine's YouTube video about Doba as he explains it perfectly, check it out:



I hope the above video helped explain just WHY you need to use Doba...but if it didn't convince you, I hope that I can. Doba allows you to sell products online WITHOUT having to set up accounts with numerous suppliers. All you have to do is sell products, log into Doba and then purchase those products for your customers. You don't deal with anything except for order processing! How much easier does it get.

Now take a look at this sneak peak of Doba from my friend again. He did such a great video, there was no need to make another. Check it out:




Sunday, March 24, 2013

How to Use Inventory Source

Now that you have seen the brief overview of Worldwide Brands Wholesale and Drop Ship Source Directory, I thought that I would give you a sneak preview of Inventory Source as well.




If you watched the video in its entirety, you would have seen the basics of how easy it is to use Inventory Source. It is quite the bargain for the amount of work that is done for you as well. So if you are not the best at using Microsoft Excel, then this is the way to go, as all the hard work is done for you. All you need to do is decide how slim a profit margin you want to make, and plug in that number. Their software uses that to determine and set your pricing for you as well as filling in all the relevant attributes that are needed into the inventory file that you will be submitting to Amazon (or any other marketplace).

If you do not even know what an inventory file is, it is the file that you will be required to submit for each supplier to Amazon or wherever you are selling. If you are selling wholesale, then this is easy and it is all based off of the products you own, and you won't need to worry about an inventory file--because if you took my advice you will be using Fulfillment by Amazon, and won't need to ever deal with this issue!

But for those who are going to dropship their products, and don't want to deal with the hassle of managing multiple inventory feeds and manipulating the data (not sure if you are making mistakes or not)--they use Inventory Source! You will not regret trying it, believe me. If after a few months you decide that you can do it on your own (after learning the ins and outs of Excel), then simply cancel your subscription/service plan with Inventory Source, and move on! That just means you were so successful that you are now learning how to make even more money!

Keep reading for my overview of Doba in a posting to come very soon!

Thanks for reading.

Anthony
amonfet@gmail.com

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Saturday, March 23, 2013

How to Sign up for and Perform a Search in the World Wide Brands Directory

I was recently asked by one of my readers just how do you actually perform a basic search within the Worldwide Brands Wholesale and Drop Ship Source Directory. So I decided to make a short four minute video which will show just how to sign up for and do a basic search within their directory:

video


Now that you have gotten the chance to view the video, I hope that it clears up exactly just how easy it is to sign up, and also how quickly you can find real wholesale or dropship suppliers.

Also, if you did not notice in the video, you can sign up with the Worldwide Brands Wholesale Directory for only $99 up front and then two more payments for $110 in two subsequent months. That gives you the chance to start making money before having to worry about spending $299! What a great offer.

Keep reading my blog for two more updates this weekend -- one showing you the basics of Inventory Source, along with Doba.

Take care,

Anthony