🚀 30-Day Amazon FBA Action Plan: A Step-by-Step Guide to Selling on Amazon
Are you one of the many people who have dreamed of starting an Amazon FBA business but don't know where to start? Do you lack the right direction and guidance to confidently invest your money into a product that you want to sell? If so, you're not alone. Many people quickly lose interest and give up on their Amazon FBA dreams because they don't know enough about the process.
But fear not! In this 30-day Amazon FBA action plan, we'll guide you through the process of selling a small and inexpensive product so that you can experience what it's like to be an Amazon FBA seller as quickly as possible. The ultimate aim of this plan is to boost your confidence and motivation enough so that you take this Amazon FBA business model seriously and don't end up losing interest and giving up on what could potentially be a life-changing income stream.
📝 Table of Contents
- Day 1: Setting Up Your Amazon Seller's Account
- Day 2: Finding a Product to Sell
- Day 3: Verifying Product Demand
- Day 4: Calculating Profitability
- Day 5: Placing Your First Order
- Day 6: Creating Your Product Listing
- Day 7: Shipping Your Product to Amazon
- Day 8: Launching Your Product
- Day 9: Running Your First Amazon PPC Campaign
- Day 10: Lowering Your Price Point
- Day 11-30: Monitoring and Adjusting Your Campaigns
Day 1: Setting Up Your Amazon Seller's Account
The first step in starting your Amazon FBA business is to create an Amazon seller's account. You'll need to create one as a limited company or a sole trader. Most people choose to be a limited company because it's more efficient when it comes to how much tax you'll pay. While creating your own company might sound like a daunting task, it's actually not. Nowadays, you can set one up for as little as £12 in a few short hours.
Once your limited company has been set up, you'll then be able to create a business bank account, which is needed in order to set up your Amazon selling account. While there are loads of different options to choose from, the best deal that I've seen is with Tide Bank, who give you £50 credit as soon as you deposit just one pound.
Day 2: Finding a Product to Sell
Finding a long-term product to sell with Amazon FBA can take some people months to do. But because the process that we're running through now is designed to get you to just experience what it's like to be an Amazon FBA seller, we're able to accelerate the process of finding a product by focusing on four pieces of key criteria:
1. The product sells at least 50 units a month.
2. There is at least one seller achieving that minimum sales threshold with no more than 50 reviews.
3. The product is profitable.
4. It's small enough to fit into a shoebox and lighter than 500 grams so that we can ship it by air and start selling ASAP.
If you want to find great products to sell with Amazon FBA, then one of my favorite methods to use is with Helium 10's Black Box tool. That allows you to search a huge product database and then filter the results according to how much money sellers are making.
Day 3: Verifying Product Demand
Once you've found a product that sells at least 50 units per month with fewer than 50 reviews, it's time to verify that there are at least five other sellers within each niche that you've just found that are all selling at least 50 units a month. It's super easy these days to find out exactly how many units of a product people are selling on Amazon. You can do that by downloading the Helium 10 Chrome extension, creating an account with Helium 10 if you don't have one already, and then searching for a product on Amazon before pressing the X-ray button within the top right-hand corner of your screen.
Day 4: Calculating Profitability
Once you've found a product that meets all of the criteria and verified that there is demand for it, it's time to calculate profitability. Ask your supplier for the unit price and the shipping cost to an Amazon fulfillment center. Once they give you these figures, plug them into my profit calculator along with the expected Amazon fees and make sure that the margin is at least 15 percent.
Day 5: Placing Your First Order
By now, your limited account should be set up, your bank account created, and that means that you can now move on to setting up your Amazon seller's account. The process isn't actually as easy as it should be, so my one tip is to do it when you've had a good night's rest and you're able to think clearly. Once you've been verified, which usually takes two to three days, you're ready to start selling.
Day 6: Creating Your Product Listing
Every Amazon FBA product has a product listing that comprises of a title, bullet points, description, and pictures. When putting your product's listing together, make sure that everything that you write makes sense and use your competition for guidance on the type of content to include. Having a compelling listing that is going to make or break whether your experience with selling on Amazon is a good one, so take your time and do it properly.
Day 7: Shipping Your Product to Amazon
Once you've created your product listing, it's time to ship your product to Amazon. You'll need to tell Amazon that your product is ready and it's on its way to their warehouse, which you need to do by logging into Seller Central, browsing to the shipments tab, and then clicking send to Amazon. Once Amazon receives your goods, you'll receive an email notification that says good news, your shipment has been checked in.
Day 8: Launching Your Product
After a couple of days of waiting for Amazon to check in and receive your product, a number of units should become available for customers to start purchasing. To increase your product's visibility and start driving sales, you'll need to make use of Amazon's advertising platform, which is pay-per-click. Start with a modest budget of £10 or $10 a day and review your campaign's performance every single day.
Day 9: Running Your First Amazon PPC Campaign
Because you're probably new to Amazon's advertising platform and you've never experienced PPC before, my advice is to create an automatic campaign that essentially lets Amazon determine when and where you appear in the search results.
Day 10: Lowering Your Price Point
To increase your product's conversion even further during your launch period, start selling with a lower price point versus your competition. If you can give your customers an immediate reason to buy from you versus anybody else, they'll be left with no choice but to make the purchase.
Day 11-30: Monitoring and Adjusting Your Campaigns
Over the course of the next six weeks or so, monitor and adjust your campaigns to increase your sales and conversion rates. Provided that your listing is good, your offer price is right, and your advertising campaigns are allowing your customers to find you, there's no reason why your product won't sell out.
Pros and Cons
Pros:
- Quick and easy way to experience what it's like to be an Amazon FBA seller
- Boosts your confidence and motivation
- Helps you stay committed and motivated to the goal of being a long-term Amazon FBA seller
- Provides a ton of experience that you simply wouldn't have gotten had you just sat on the sidelines trapped with analysis paralysis doing product research
Cons:
- Limited to selling a small and inexpensive product
- Lower profit margins due to smaller orders
🎉 Highlights
- Set up a limited company and business bank account
- Find a product that sells at least 50 units per month with fewer than 50 reviews
- Verify that there are at least five other sellers within each niche that you've just found that are all selling at least 50 units a month
- Calculate profitability
- Place your first order
- Create your product listing
- Ship your product to Amazon
- Launch your product
- Run your first Amazon PPC campaign
- Lower your price point
🤔 FAQ
Q: How much does it cost to set up a limited company?
A: You can set up a limited company for as little as £12.
Q: How long does it take to set up a limited company?
A: You can set up a limited company in a few short hours.
Q: How much should I budget for my Amazon PPC campaign?
A: Start with a modest budget of £10 or $10 a day.
Q: How long does it take for Amazon to check in and receive my product?
A: It usually takes a couple of days.
Q: How long does it take for my product to sell out?
A: It depends on the product, but it should sell out over the course of the next six weeks or so.
🌐 Resources
- Helium 10's Black Box tool
- Helium 10's Cerebro and Magnet tools
- Tide Bank
- Wise
- Fiverr
Now that you have a step-by-step guide to selling on Amazon, it's time to take action and start your Amazon FBA business. Remember, the key to success is staying committed and motivated, and this 30-day Amazon FBA action plan is the perfect way to get started. Good luck!
