65: Mastering Amazon: Vital Tips From A Top Seller
Manage episode 407149739 series 3558257
The side hustle that started with buying books for $1 and selling them at a big markup on eBay, morphed into a $5 million dollar brand on Amazon.
This happened through the skill and resilience of today’s guest, Annalisa DeMarta. While there are 2.7 million sellers on Amazon, her company Ridgeline Insights is in the top 0.0005% of Amazon sellers. If anybody understands selling on Amazon, it’s Annalisa.
Soak up her insights, tips, and hard-won wisdom.
In our interview Annalisa reveals,
- what it really takes to be a successful seller on Amazon.
- the sweet spot of how long you should give your product listing a chance
- what are the most important aspects you need to pay attention to, and
- so, so much more.
This content was too good not to share again in this rebroadcast episode.
What You’ll Hear:
03:10 Buying books for $1, selling them for $5, $10, $25…
05:48 A lightbulb moment: Shifting to a scalable and dependable model
07:39 BIG lesson learned: Minding cash flow
08:29 From just the two of them, to 25 employees
10:05 If we don’t try this, we’ll regret it
11:13 Set yourself up for success by being fiscally conservative in your spending
12:08 A shopping trip provides the seed for a winning business idea
14:00 So many things could have gone wrong - The first shipment of boots from China
15:05 Built Lone Cone to a $5 million brand
16:40 Where to start if you want to import products
19:32 “I’ve literally lost millions of dollars in this business”
20:34 Amazon aggregator picks up Lone Cone
23:30 Ridgeline Insights, an Amazon channel management company
24:47 3 Most common ways to sell on Amazon and pros & cons: arbitrage (a great way to learn Amazon), private labeling/black labeling, contract manufacturing
28:17 Incorrect assumptions people make about selling on Amazon
31:31 Just like MSI’s (multiple sources of income), diversification of assets is smart
32:18 A lowball offer - nothing lost if they say “no”
33:22 What it REALLY takes to be successful selling on Amazon
35:42 A “must do” for your top sellers each quarter
36:20 The sweet spot for long you should give a SKU a chance before you give up
40:42 Fear of failure - get over it because you will fail
41:35 Risk a little, learn a lot
42:33 From side hustle to multi-millionaire…you can too!
Key Takeaways:
42:48 Don’t play the “what-if” game
44:13 Work towards the first tier of financial success - having your base expenses covered
45:18 You’re not losing, you’re trading for a future payoff
Joan's Online Masterclass to help you achieve your side hustle goals:
Turn Your Thoughts Into Wanted Things
How to connect with Annalisa & Ridgeline Insights:
https://www.ridgelineinsights.com/
https://www.linkedin.com/in/annalisad...
https://www.tiktok.com/@annalisademarta
Connect with Joan:
https://www.instagram.com/joanposivy/
https://www.facebook.com/posivy/
https://www.sidehustlehero.com/about/
Be on the show!
https://www.sidehustlehero.com/guests/intake/
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