Lately, I’ve been feeling like all we’ve been doing is bleeding money over here at The Budgets’ household.
Between Mr. Budgets jewelry business and my Amazon FBA business venture we’re spending bills left and right.
Add to it the fact the stock market isn’t doing so hot, calculating our net-worth never seemed too appeasing to me lately. But I owe it to you guys because it has been way too long since I have and it’s only fair to share the good with the bad.
I also can’t forget to mention, Mr. Budgets quit his job and is now a full time jewelry designer, yipee! So, that also means we’re a one household income, yikes!
Mrs. Budgets frustrated with picking her first product to sell on Amazon.
If you haven’t heard, my new business venture is selling my own line of products on Amazon, read more about it here and here. As promised on my last post, I am going to delve into the whole process I have taken to find my first product to sell on Amazon and the big stumbling blocks I’ve hit along the way.
This will not be a “how to” post about finding a product to sell on Amazon, but rather my personal journey which I think you will find more valuable and entertaining to read.
My product research phase began in November. I bought Jungle Scout, a product research tool that analyzes data in a matter of seconds to let you know the estimated sales/month on a particular product along with a host of other useful features. Watch this video to learn how to use Jungle Scout to pick a profitable product to sell on Amazon.
I was drawn to a particular Amazon sub-category from the get go. I started day dreaming of all the potential products I could get into under this particular category. A category I could build a brand around and a category that excited me. Oh, and a category that was not too competitive or over saturated.
Narrowing down my first product idea, I decided to go with an over-sized product. I did this for a couple of reasons. I’ve been hearing a lot about how Amazon sellers are facing more and more competition and the market is becoming over saturated.
Instead of this embarking fear in you this should motivate you to better differentiate your products from the competition. I had listened to a podcast discussing ways to do this. One of the ways they suggested is picking an over-sized product. The rationale for doing so is over-sized products cost more and they are more expensive, complicated and timely to ship. Those reasons eliminates a lot of the competition.
I was willing to spend more money and put in the effort so picking an over-sized item was the way I was headed. With a product idea in mind and one that was selling well on Amazon it was off to the races.
I’ve spent countless hours reading blog posts, listening to podcasts and watching videos trying to digest everything I can about selling products on Amazon through their FBA program. Which if you haven’t heard is my new side hustle, but it seems to have turned into my part-time job (it’s why I’ve been so MIA on this blog).
All this time spent learning about selling on Amazon is starting to make me a little crazy. So to keep me sane I’ve decided to compile a list of all the best resources I have learned along the way.
I often hear something valuable I’ll want to reference later and while it isn’t applicable to me right at this moment I know it will be down the line. Up until now, I didn’t have a good way of keeping track of it. My hope is you will benefit from this aggregation of content and we can share the best resources in one place. I will be adding and modifying the list indefinitely as I read, listen, and watch more and more content.
This makes an excellent resource for someone who is interested in learning more about the FBA process and to guide you through each phase of the game.
Have you ever begun a new year making resolutions or goals only to have them be completely different by the end of the year? I know that was the story for me in 2015. This year my new year resolution is to have purpose each day.
Numerous studies have shown that successful people, aren’t successful because of who they are. Rather, they are successful because of what they do.
Some of my biggest financial mistakes occurred because I set goals without having a detailed plan.
So instead of setting only yearly, lofty goals, which usually change by mid year anyways, I’m going to be detailed this year and set short and midterm goals.