How To Make Money With Amazon – 3 Simple Strategies For Earning A Substantive Side Income

How To Make Money With Amazon - 3 Simple Strategies For Earning A Substantive Side Income

Amazon’s third-party marketplace allows anyone to sell products, first-hand or used, to the “organic”, Amazon audience.

This is important because Amazon has grown significantly over the past decade, becoming one of the most trusted and popular destinations in e-commerce.

If you’re willing to put in the effort, you can help the company succeed with your own products. Millions of people worldwide are taking advantage of this opportunity, including high-flying executives and mom-and-pop entrepreneurs. The bottom line is that you need to be open to risk.

If you are knowledgeable about marketing, have a good grasp of the challenges, and can produce a product that is useful, you should be able to provide customers with high-quality products through Amazon.

This is the heart of all success stories.

But, it’s far more important to understand *how* you can do it than following a checklist. This tutorial will reveal 3 ways that everyday people can make money using Amazon Marketplace. It could provide a substantial side income or even a full-time job.

1) Selling products “In Demand”

Selling “in-demand” products that are being bought in large quantities is the best and most common way to make Amazon money.

These products are easy to identify – just check JungleScout and Amazon’s “Best Selling” lists to see if you can spot them.

This is the trick: If you can buy the same product directly from the manufacturer/supplier, or from another source, you will be able to buy large quantities of popular products and list them on Amazon for a profit.

This is the most popular method of entering Amazon. Most people gravitate towards products that they are familiar with or have access to through their jobs. It’s simple and quick, but it isn’t very profitable (very competitive) and usually requires decent capital investment.

See also  Will Courier Jobs Increase in the 21st Century?

2) Making white label products

Amazon’s next step is to offer “white label” products.

These are where companies, especially in China, will manufacture products and then apply their logo/brand/sticker to them. This is called “White Labelling” as the manufacturer simply places a label on the box. Third-party clients can then apply their branding.

White labeling has a problem. It requires a large MOQ (Minimum Order Quantity), to be purchased before the company can produce enough to make a profit. To get the business started, you’ll need to invest at least $10,000.

White labeling offers many advantages over selling “normal” products as described in step 1. It allows you to build your brand and sell the product directly to the manufacturer.

White Labelling is usually a progression from a successful product, or to consolidating the gains made in their area. If you want to get the best out of a market this will allow you to gain market share without having to create a completely new product.

3) Create Your Own Products

You can also create your own products. This can be done to either consolidate a market position or to create new markets. This strategy is the most profitable but also the riskiest.

You need to make sure you have a bulletproof product, one that doesn’t infringe any patents/trademarks, and you can also ensure you are able to create demand for the product.

This step is crucial because if you want to introduce a new product to the market (either Amazon or elsewhere), you must be able to cultivate a group that is interested in purchasing it.

See also  Why and How to Use LinkedIn: For Entrepreneurs and Small Businesses

This initial audience will be the foundation on which most buyers will be able to justify purchasing the product (as a safe investment). That is where the product’s momentum will come from.

This method, in which you own the entire supply chain, is, by far, the most rewarding. It is, however, not the most effective in terms of encouraging users to sign up for the system.