Building a Profitable Online Business During COVID-19
My Amazon Journey Started Long Before COVID-19 – But Yours Can Start Today!
On day #49 of our state’s mandatory quarantine, I am sitting in my recliner. It became my home office years before COVID-19 made its way into my family’s life. I am a third-party seller on Amazon, and have been successfully selling on this platform for 6 years. I work from home, and ship products globally. This year I am set to net over 7-figures in sales from one of my brands.
Until early March and the onset of the coronavirus, most people did not understand what I do. But now, I can’t keep up with the calls and texts about product supplies that people think I might have in my warehouse to help combat the virus. Sadly, I explain, that I don’t sell essentials out of my warehouse, but I could make a few calls to a manufacturer friend I work with in China, to see what can be sent my way. My friends and family express their thanks and await my reply.
These are desperate times for sure, and while I am relatively confident we will “bounce back”, (whatever that truly means), I know that our view of buying and selling online has shifted tremendously due to the pandemic. Most people are buying their essential items online because stores are not reliable to keep these items in stock. Other items are seeing a rebirth in popularity due to gyms closing, hair salons out of service, and schools shut down.
Quite honestly, my lifestyle has not changed much due to COVID-19, but I know a lot of yours has. So, perhaps the following tips will help you consider starting your own online business for the next stage of your life. Then, once the stay-at-home orders are lifted, you might be able to truly stay at home and work joining the other 2 million Amazon online sellers in the world!
Andy’s Tips For Selling On Amazon
- Sign up as an Amazon Seller using the following link: https://services.amazon.com/content/sell-on-amazon.htm
- For a complete list of categories to choose from which to sell, visit this site. After browsing, pick one: https://sell.amazon.com/sell.html?ref_=asus_soa_rd-your-products
- There is a fee to sell on the platform, which takes care of your Amazon catalog, listing structure, and sales management inventory. It is $39.99/month and is much cheaper than renting a mall kiosk or a flea market vendor table at most events.
- Begin building cash flow by selling off unwanted but gently or hardly used items in your home or garage. Virtual garage sales may increase with the quarantine in place, and Facebook Marketplace has helped my family and I get some extra cash to pay for the Amazon seller’s fee. eBay has been another profitable platform for us to sell old textbooks and fitness equipment.
- Use your new cash to shop online for deals and clearance items to sell on Amazon. This term is called “arbitrage”.
- Find the right product by researching what people are buying. This is a delicate balance between art and science. Finding items that are trending can get you sales quickly, but may not allow you to have long-term growth. Seasonal items are popular as well, along with holiday focused themes and specific niche products.
Coronavirus might be here for a much longer time than any of us ever imagined. Why not take this time to become an entrepreneur? This selling model is not going away anytime soon, because it is actually one of the few things that is growing during this crazy economic down-turn.
I highly recommend learning to sell online through the Amazon Seller Tribe, founded by Gaye Lisby & Garry Ray. These arbitrage masters love to teach new sellers the business strategies to successfully sell full-time on Amazon!