Product sourcing for Amazon is a very effective strategy for making money in your eBay stores and auctions. Nevertheless, like any other business, it has its share of failures. If you ask any small business association throughout the world, they will tell you that 80% to 95% of businesses fail in their first year. Only 1% survive 5 years or more. Even if you use a low cost business strategy like getting your products from a wholesale dropship supply partner, doing the wrong things can still cause you to fail. Here are some key points you need to succeed.
1. The wholesalers for Amazon sellers whom you work with must have a proven track record. They need to demonstrate that they understand the needs of Amazon sellers.
- How does their program work?
- What do they expect from you?
- What can you expect from them?
- How much will they pay you?
- How will they pay you?
- When will they pay you?
2. Your wholesale dropship supply partner must have a proven track record for quick and accurate dropshipping.
- What is their turnaround time to deliver a product to your customer?
- What happens if your customer receives a damaged product?
- What is their response if the product breaks down during the warranty period?
- What delivery methods do they offer? Fed-Ex? UPS? US Post?
3. You should sell what’s hot on Amazon today. You must find a product sourcing for eBay partner who can provide you with the best items to sell on Amazon. If this hot product is Britney Spears’ latest hit single, then find a good music CDs dropshipper.
- What are the best items to sell on Amazon today?
- Which are the best wholesalers for Amazon sellers for this product?
- For seasonal products, is this a new model or was this model offered last year?
4. You need to know how to sell your chosen products. If you do not have personal experience with the product, do some research online, or at the library. Ask your friends and family. Ask your product sourcing for Amazon partner. If you sell automatic cat litter boxes, ask for advice from your pet accessories dropshipper.
- What are this product’s features and benefits?
- Who are the target customers?
- Who uses this product?
- Who buys this product?
- What are competing products or models?
- How much is it sold elsewhere?
- Where else is it available?
- Who are your competitors?
- How are your competitors selling this product?
Using the sourcing products for Amazon strategy for your Amazon sales can be very rewarding. Once your business is up and running, you will be protected from the layoffs and downsizing that is part and parcel of working for somebody else. You will feel a great deal of personal satisfaction from successfully running your own business. You will finally have the power to change your lifestyle to spend more time with your friends and family.