Currently, Amazon FBA is one of the most wide open and most talked about business opportunities in the e-commerce universe! As a business model FBA benefits include:
Ease of launching from scratch
A short learning curve
A truly global opportunity
Very low capital risk required to get started
Very predictable growth if proper strategy is deployed
Favorable market conditions for future growth
Automation & hands free operation are possible
Creative resources are readily available to assist you
From day one you have a built in ravenous customer base
These factors and others make the Amazon FBA opportunity nearly impossible to ignore as a premier online business option.
What is FBA?
FBA stands for Fulfillment By Amazon. Most simply stated, you can ship your goods to Amazon warehouses and Amazon will sell and ship the product to the end customer for you. You never even have to see or touch your inventory if it comes straight form a supplier or manufacturer! It’s one thing to understand what FBA is by reading Amazon’s own description of the program, but it’s another matter entirely to build a successful, scalable, sellable business on the platform.
How much bigger will FBA grow?
FBA is in its infancy. Amazon is building warehouses globally and is set to open soon in Australia as its latest conquest.
Consider these facts as well: According to U.S. government data, retail shopping online is still less than 10% of all retail spending in the U.S., but that number is projected to grow rapidly in the coming decade and could easily reach 25% in that short time.
In other words, most of the growth in e-commerce and Amazon FBA is yet to come – and it’s coming rapidly! Unless there is a major disruption of current trends, Amazon is clearly set to see incredible annual growth for years to come. That serves to substantially benefit those who are building FBA businesses on the Amazon platform. The opportunity is truly global as well because as an FBA business owner you can use our extensive network of partner services that accommodate every possible challenge in moving your inventory to where it needs to go.
Which FBA strategies are hot?
There are numerous ways to succeed with an Amazon selling business.
Selling your own private label product
Establishing relationships with wholesale sources
Sourcing unique products from small businesses that aren’t selling online yet, or are marketing themselves poorly
Bundling already popular products to make new listings
and many, many more…
Opportunity is abundant because customer spending continues to escalate on Amazon!
Why partner with Flippa?
Our FBA training team is delighted to have been contacted by Flippa in order to form a partnership that benefits those who wish to start or grow with the FBA model. The Filppa leadership indicated to us that numerous Flippa.com users were making inquiries in recent months on the topics of buying, starting or growing an FBA business. As a result, Flippa began to research extensively and eventually came to the conclusion that we were the perfect FBA educational partner for their community. We are of course honored to form this partnership in order to better serve those seeking success with FBA.
About our Proven Amazon Course
No one in the world has served Amazon selling professionals (aka FBA sellers) for as long or as successfully as has the creative team behind the Proven Amazon Course. We have our own publicly disclosed 8-figure online selling accounts that demonstrate our depth of knowledge of the platform. We’ve received over 1,000 documented success stories as well which all credit our coaching and course for having helped establish and grow incredible Amazon FBA businesses.
We have successfully assisted thousands of students with:
Launching an FBA business from anywhere in the world
Building private label brands on Amazon
Building a team for scalable growth
Finding creative sources of profitable inventory
Creatively marketing Amazon products through advanced Facebook strategies
We are delighted to partner with Flippa, and we’d love to hear from you if you are interested in learning more about launching or growing an Amazon FBA business.
About the author: Jim Cockrum is a best selling web marketing author and a seasoned Amazon FBA expert. His courses, books and coaching are the foundation behind thousands of Amazon seller success stories. His industry leading course located at ProvenAmazonCourse.com contains numerous comprehensive modules for both beginner and advanced online sellers who are either launching or growing an Amazon FBA or Amazon merchant fulfillment business. The latest update of his book, “Silent Sales Machine – 10th edition” is a consistent top 10 seller on Amazon in numerous e-commerce categories.
Today we’re handing the blog over to Jerry Banfield. Jerry is an entrepreneur and teacher who has coached over 80,000 students on everything from Facebook marketing through to time management and productivity.
Last year Jerry built and sold a profitable site on Flippa for $5,500 with no experience and the best part is, he’s put together a step-by-step Udemy Course to share the details on exactly how he did it. Usually $199 – for a limited time, Jerry has dropped the price down to just $25 for all Flippa users. Simply use coupon code: FLIPPABLOG or THIS LINK.
Over to Jerry:
If you are trying to sell your website on Flippa, knowing what works to make a sale can save you a lot of frustration and money. The first two times I posted websites for sale on Flippa, I made my listings and then tried to promote them in complete ignorance of what other sellers were already doing right. No one bid on any of my listings…
When I went to relist my website again, I realized it was crazy to do the same thing I did before and expect different results. For the next few weeks prior to launching another listing, I researched the Flippa marketplace to see what websites were already selling so that I could discover what they all had in common. I found websites that had sold for at least a thousand dollars almost always showed solid proof of income and had verified Google analytics. I also discovered what price to start the bidding at, how to write a compelling listing to attract watchers, how to directly contact potential buyers, how to convert people watching to bids, why every question was worth answering in great detail, and what I needed to do to make it easy to close the auction successfully.
When I used what I learned to launch a new listing on Flippa, the same website that did not attract even one bid when I listed it before sold for $5,500.
You can skip the painful learning process I went through to learn how to sell on Flippa when you take this course. You can see what your website is really worth when you list it the way I listed mine. This course will continue to be useful for you through any improvements Flippa makes because what I teach is based on principles that you can adapt to what you are doing today. You can count on me to answer any questions you have in the course and to add new lectures based on your feedback! Thank you for reading this and I appreciate the chance to serve you as your instructor in this course.
Maybe you build it yourself on a platform like WordPress or Joomla, or maybe you buy one ready made from a service like Flippa.
You know what isn’t easy?
Making money from a website.
Not only is it not easy – but there’s a ton of options, and for every option oodles of competing advice on how best to do it.
Most of it sucks.
It sucks in a staggering variety of ways – sometimes the advice is old, sometimes it’s ineffective, sometimes it’s unethical – really, the ways in which advice about monetization can suck never ceases to amaze me.
(Don’t get me wrong! There’s plenty of GOOD advice out there too! Like here, and here, and here, just for starters!)
My least favourite piece of advice is to dump a bunch of ads on your site and watch the money roll in from advertising fees.
That’s just stupid.
Let me tell you why.
Why Do So Many People Think It’s a Good Idea?
Because it worked for a long time.
In the earlier days of the internet making a keyword dense, article website with a healthy dose of Pay-Per Click ads on it was a reliable way to set up an income producing blog.
You’ve heard the advice – some folks are still giving it: Exact match domains, long tail keywords, article spinning + Google Ads = profit.
Because it was so effective for so long – and because there was even MORE money in teaching people these systems – it’s still often considered the go-to way to build an income producing site.
There’s also another reason it’s still so popular as an idea. And it’s not a nice one, so brace yourself:
It’s easy to set up a site, populate it with some content and run a bunch of ads – and let’s face it – the dream of a big fat passive income is one that’s hard to give up.
A few people still make money this way – and, I suppose, maybe you could too – but it’s really not the best method any more, and it’s definitely not the most sustainable.
It’s time. The internet has grown up and moved on and so must we.
What’s Wrong With This Method?
There’s a couple of reasons:
1) You can’t beat Google
Google employs thousands of the smartest people in the world whose job is to stop businesses like this from working. You can’t beat them. Don’t try.
The reason for this is that it’s in Google’s best interest to make sure that people get the kind of results they WANT when they search. And for the most part searchers don’t want to have to click through many sites to find what they want. They want an answer to a question, or information about a topic, or something to buy, and they want to find it on their first click away from Google’s result pages. Google needs to give it to them, so the searchers will continue to use Google’s system, and they have a hugely complicated algorithm personalized on a person to person basis designed to give people what they want.
And it goes even further – there are some arbitrage issues. Google views websites like this – that exist only to funnel traffic to other sources as a form of, essentially, theft.
Let’s break that down from your perspective and from Google’s.
How you see it:
You have a site that is listed in Google’s search results, and you want lots of traffic so that when people find you in search results, or otherwise, then enter your site they can click on one of the ads you are hosting. You get paid for the click with money Google collects from advertisers. If this happens many times, you can make some money and everyone is happy.
How Google sees it:
They have a directory of websites that have the solutions to the problems of searchers, and when someone clicks on a link they find on Google’s results pages, Google wants them to find the information they are looking for, so that Google doesn’t have to deliver any pay-per-click commissions, and the user is happy with the speed and effectiveness of Google as a Search Engine.
When a site is designed to make its money off of advertising – it will never be the end of a searcher’s quest for information – they must click more times to find the information they are looking for. Google must process the commission, incur expenses related to doing so, and deal with a less satisfied customer – as well as an advertiser who is paying for something THEY could have gotten for free from search results as well.
Basically, Google sees ad-heavy sites as getting in between their users, and what their users want – and that’s not a good thing for anyone.
As bloggers, we cannot hope to cheat, shortcut or find loopholes through Google, and really – it’s not even in our best interest to do so.
2) You’re wasting precious attention
Even if this wasn’t the case – monetizing a site smaller than the Huffington Post with advertising is possibly the biggest waste of attention you can accomplish. When someone clicks an ad on your site – they are leaving your site. This means they’re not joining your list, commenting on a blog post, reading a product review or doing any of the myriad other things that could lead to money in your pocket. Follow this through to the next step and it means they’re gone – that customer lifetime value to you is, what, 4 cents? They’re gone forever and you have very little to show for it.
Let’s do the math on this so you can really see what I’m saying.
Let’s say that you have a website populated with ads, and you earn 20 cents (if you’re lucky!) every time someone clicks on one.
Maybe 1 in 100 people will click on and ad. (Again, this is a generous estimate!)
That means to make a dollar, you need 500 visitors to your site.
To make, say, $1000 a month, you need about half a million people to visit your site.
If you’ve got half a million visitors to your site every month, and all you can earn from them is $1000 – that’s a pretty poor use of traffic!
In fact, if you manage to hit those levels at all, it would be a crying shame of a waste.
What You Should Do Instead
What I’m about to tell you is very simple – but please do not make the mistake of thinking that it is easy.
Build an audience, and give them what they want.
Let’s define these terms:
Audience: An audience is a group of people who you have a relationship with and who are interested in what you have to say. They all generally have certain things in common – if nothing more than a shared interest in your subject matter. They read, comment on and share your blog posts, they respond to your emails, and they, occasionally, buy your products.
What they Want: When you have an audience as described above – they talk to you. It’s amazing, really, how much people will tell you about who they are, what they’ve done and what they need in their life. They will come right out and say things like: “I wish I knew what the best e-reader was.” Or “Why can’t I find out the best kind of professional to get financial advice from?”
These are things people say to people they like – so be someone they like.
Now, knowing you need an audience and building one are two VERY different things – building an audience isn’t easy – but it’s terribly worth while.
So how does it work?
Let me give you the quick and dirty version. (The long version would take ages – but if you’re interested, let me know in the comments and we’ll see if we can’t arrange something!)
Define your ideal person. This is the person to whom you could provide the best service, would most enjoy working with, and importantly, has the ability to pay you for things.
Attract their attention – you can do this through blogging, through social media, through networking – the only limit is your imagination.
Get them on an email list and start showering them with value. Try to solve a problem they have, or provide them some delight, for free! Then continue to give them useful, valuable information about your area of mutual interest – always asking for feedback and inviting questions and replies from them.
Based on what you know about them, who they are, what they need and what they’ve told you – sell them something. Maybe your own product or service, maybe something through an affiliate – but the point is that it will be something you have pre-verified that they want to spend money on.
That’s all there is to it. 😉
But Wait – That Sounds Like a LOT of Work
It is. These things are.
The thing is that a passive income isn’t really passive. You absolutely, 100% can design and build a business that doesn’t involve a lot of hands-on work on your part – but doing so is the work of months or years.
And if you’re not involved – if you’re not more than the unseen creator of a website – then it’s not likely to last past the next Google update.
The real problem with monetization by advertising isn’t that it doesn’t work – it’s that it isn’t effective. For the amount of traffic you would need to see any money from an ad-monetized website, for all of the work it takes to get that traffic – you could make many, many times the money genuinely engaging with people, and directing them to resources they need.
If you want things to be easy – you get a job.
If you want something long term and sustainable – you get an audience.
Advertising, if it comes into this at all – is an afterthought. A tactic. A small component to a bigger strategy.
Building model airplanes probably won’t become your next profitable business.
Today’s post is by Tony Hosea, known on Flippa as SmartQuant. His profile caught my eye when I noticed he had over $45,000 in transaction value for 166 websites sold — and perfect feedback. When Tony and I emailed for the first time, I was surprised to learn that he isn’t a web developer by trade: he described his Flippa activity as a “money-making hobby”. If you’re like most people, your hobbies are a money drain, not a money-maker! Here’s how Tony does it.
To most people the words, “money-making” and “hobby” just don’t seem to go together. Usually a hobby costs money and is done purely for the fun of it. What if I told you that you can have a hobby that you really enjoy and make money from it? With that said, let me tell you how I started selling websites as a money-making hobby.
Stressful day job, relaxing side project
My day job of analyzing global financial markets can be fast-paced, non-stop, and about as stressful as any business can possibly be. Those who are able to relax and keep a cool head in the hectic world of global finance stand a much better chance of long-term success. I’ve loved the markets from the moment I bought my first stock and have been very fortunate to have the markets love me back! With that said, I’m basically just a number cruncher who sifts through mountains of market information to find those opportunities with the greatest probability of success.
So how did I start to build websites as a hobby as I grew my investment business? I was always interested in the limitless information-sharing potential of the internet. Creating a website seemed like a great way to share my investment ideas with other interested parties. As I starting building websites I discovered something amazing… building websites relaxes me. Who knew?
See Opportunity Where It Lies
When Flippa opened for business, back in 2009, it was a natural fit for me as I was already skilled at creating effective websites. Initially I had only built websites for my own online portfolio which was growing every day. With Flippa I saw an opportunity to share my site-building expertise with those that seeking a quality, ready-made website. I also saw an opportunity to sell some of my existing websites as I was looking to reduce the size of my portfolio and focus on just a few core websites.
If you’re thinking of developing your skills into a money-making hobby, here is what I did:
1 – Study The Flippa Site Rules and the Seller Guide
Get a smart start in your business by familiarizing yourself with the Site Rules. These form the foundation of how buyers and sellers should operate on Flippa.
You may have heard the saying, “If you fail to plan, then you plan to fail”. This saying holds true regardless of what you are trying to achieve, so planning is essential.
Decide why you want to build and sell websites. This may seem obvious to you, but remember that the motivation behind why you want to do something will serve as the driving force behind your success.
Decide early on how you plan to position yourself in the Flippa marketplace. Will you sell new/startup websites or will you develop websites and sell them once they are earning a healthy profit? Alternatively, will you buy existing websites, improve them, and sell them for a profit?
3 – Don’t Be In A Rush To Sell
If you happen to have a day job, or you own currently own a business, you are in a perfect position to create your own money-making hobby in website selling. You see, by already having income coming in you are in a unique position to not have to sell anything. When you do start selling websites you are in a position to not have to give your websites away for nothing. Unless you are a retail giant like WalMart, you will find that competing on price alone may not be the route you wish to take.
4 – Always Do Business With Integrity
It should go without saying that you should do business with integrity. For a seller of integrity, “Honesty Is The Best Policy” is more than just a saying or quote, it’s a way of life.
How do you do business on Flippa with integrity? It’s really very simple if you adhere to a few core principles:
Create something of value – Remember that there is a difference in the mindsets of person A, who creates something just to sell and person B, who creates something to benefit the buyer.
Creating listings that are truthful – It’s natural to be enthusiastic about a website that you have for sale. Check and double-check your listing information to make sure that you have given potential buyers an accurate description of what they are getting.
Say what you mean and do what you say you will do – If you say you provide service after the sale then provide service after the sale. If you state that you will have a customer’s website up and running in three days then make absolutely certain that you do exactly that.
This is how I do business, and it works. Anyone who says you need to be dishonest or offer questionable value in order to succeed is only trying to justify their own behaviour.
When was your last vacation? I mean a real, email-free, no-phonecalls vacation. If you’re like most people I know, you can’t quite remember. This is why I like today’s post, by David Bakke. It’s a reminder that entrepreneurship is about balance (not extremes), and that having a better work life balance can improve productivity and happiness.
Running a small business is tough. With the flexibility of creating your own schedule and being your own boss, comes big responsibility. But not only are you responsible to your business, you are also responsible to yourself. If you don’t pay attention to balancing personal life with work, your health, relationships, and finances can seriously suffer.
A friend of mine found this out the hard way. She owns a lively coffee house, but in the beginning, she worked 12 hour days and didn’t take a single day off. She was ultimately forced to take a break when her husband threatened divorce unless she start devoting time to their family. Extreme, perhaps, but it got her attention. By prioritizing balance, learning to delegate responsibilities, and better managing her time, she got her personal life back on track.
If you’ve been burning the candle at both ends lately – or wish to avoid that trap – read on for seven tips that can help restore balance to your life.
1. Create a Schedule
Once you start your own business, you won’t have a boss to report to, and can work whenever you want. However, I made the transition to small business ownership several years ago, and my organization suffered significantly at first due to my ineffective management of time. By setting a schedule, I became more efficient, and now know when it’s okay to unplug for the day. To create a schedule, use Gmail’s Calendar. Or, if you don’t have a Gmail account, use the free software WinCalendar (available for download via CNET) or the calendar feature in Microsoft Office Outlook.
2. Commit to Breaks
You may feel guilty by doing so, but taking breaks is important. Trying to get work done when you’re not at your best can waste valuable time.
3. Focus on Personal Health
If your business is Internet-based, you may find that finding time to exercise is more difficult than ever before. Get a gym membership or exercise at home to improve your health and increase your chances of succeeding. Running a small business requires long work days, but by exercising sufficiently, you’ll sleep better each night and wake up each morning with a clear head so you can better tackle the challenges of the day.
4. Improve Your Personal Finances
Is credit card debt nagging at you? Are you struggling to pay monthly bills? If so, these nuisances can impede your ability to fund your new endeavor. It can become more difficult to concentrate on running your venture, in addition to putting unnecessary pressure on yourself to succeed. Get yourself on a personal budget and pay off your debts. By doing so, stepping away from your business to allow for more personal time becomes easier.
5. Improve Your Diet
If your day is filled with quick stops at fast food restaurants because you don’t think you have the time to eat healthier food, you’re not doing yourself any good. Take the time to switch to a diet based on homemade dishes consisting of more fruits and vegetables, and look for a farmers’ market in your area to buy fresh, organic produce for cheap. You’ll save money and potentially decrease your medical bills.
6. Get Out More
If you’re running your operation solo, loneliness or even depression can seep into your life. To prevent this, make an effort to strengthen your relationships with family or friends, or go out and make new ones. Volunteer your time, and keep an eye out for social organizations in your area. As you meet new people, try to keep business topics out of the conversation so that you may give yourself the mental break you deserve.
7. Find a Mentor
If you find yourself working too much or too little, seek a mentor. Check with family or friends for recommendations, or post your request on your LinkedIn profile. Your local chamber of commerce may be able to help too. A mentor can assist with virtually every facet of your small business, including juggling your operation with your personal life. Finding someone who’s been there and done that can cut down on the time it takes you to achieve the right balance.
According to a small business survey conducted by U.S. Bank, 45% of respondents said “their business is their life, and their life is their business.” Don’t be one of those people – always be sure to include some “me” time during every single work day. Even if it’s just watching some TV, even mindless entertainment can be an effective way to unwind and refresh. Or, pick up a good book – and not a small business self-help book. Select an author that you like and read their work.
What additional tips can you suggest to balance small business ownership and personal time?