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4 Proven Strategies to Boost Income from Amazon FBA

StrategyDriven Entrepreneurship Articles | Entrepreneur | 4 Proven Strategies to Boost Income from Amazon FBAAmazon FBA is an easy option for entrepreneurs who want to try their hand at e-commerce. You get to enjoy the benefits of running your own business while taking advantage of the conglomerate’s massive network and diverse customer base. Plus, Amazon also houses your stocks for you, so you don’t need to worry about renting a warehouse.

If you’re looking for ways to boost the income of your Amazon FBA business, here are some strategies you must consider:

1. Partner with a Reliable Forwarder

While Amazon may be responsible for storing your products on your behalf, you still need to send them to the retailer’s warehouses. This is where a trustworthy Amazon FBA forwarder and prep center comes in. If you bought goods overseas, a partner like FBABEE could streamline the sourcing and shipping process for you, including picking up the inventory, preparing and labeling the items, and shipping them directly to Amazon.

2. Focus on Fast-Moving Products

After you’ve created a smooth channel for your products to be sent to Amazon fulfillment centers, you should study your current sales and identify which products are popular with consumers. Concentrate on those particular items and eliminate the others from your catalogs. This way, you prevent the e-commerce giant from penalizing you with fees because of long-term storage.

These are the factors that determine highly sellable products:

  • Cost – Your initial capital per item should only be 25% to 35% of your target selling price. For a product that’s $50, find a supplier who can give it to you for $17.50 or less.
  • Price – Consumers are more likely to buy from you if your products are in the $10 to $50 price range.
  • Weight – The goods should weigh a total of around 2 to 3 lbs with the box and packaging so that you can save on shipping costs.
  • Strength – Your products should be sturdy enough to endure the delivery process without damage.
  • Consumable – Focus on selling products that your customers will use up or need to replace. These items should also be used throughout the year for better profitability.
  • Quality – Be sure to sell the items with the best quality so you have the upper hand in the marketplace.

Amazon provides its sellers with valuable tools and information such as the Best Sellers Rank (BSR) and Customer Reviews to identify which products consumers are buying. Do your research and compare prices with stores who sell the same products as you to check if you can improve on the cost of your merchandise to boost sales.

3. Regularly Review Amazon Fees

Examine your bill from Amazon regularly to check if there are any inaccurate charges by the site. There are different shipping fees for various package sizes, but there are times when an incorrect measurement can prompt Amazon to double your fees or provide you with variable shipping costs.

One way to solve this is to contact Amazon and have them remeasure the products. You can also ask for reimbursement for the error because you paid them extra for that particular mistake. Moreover, regularly check the size, weight, and description of your stock keeping units (SKUs) to prevent erroneous charges and increase the profit margin of your Internet-based business.

StrategyDriven Entrepreneurship Articles | Entrepreneur | 4 Proven Strategies to Boost Income from Amazon FBA4. Check Your Product Titles and Descriptions

Optimizing your product titles and descriptions for Amazon’s search engine will vastly improve your FBA business’ income. Aside from having a competitive price and improving your seller rating, you need to place relevant keywords on your product titles and descriptions so that your items come up first when a customer searches for it.

For example, if you’re selling sunglasses, it’s not enough to put your brand and the word “sunglasses” as a title. You need to think like your shoppers and determine the keywords that they will use when searching for sunglasses such as the color, shape, and lens type.

Some guidelines on how to get your title to rank well on Amazon:

  • Be as specific as possible within 100 to 200 characters for your product title.
  • Make the most of pipes (|) and dashes (-) to improve readability.
  • Place primary keywords at the beginning of the title.
  • Add compelling secondary keywords.
  • Highlight primary and secondary functions through keywords.

Conclusion

Amazon’s FBA business model provides sellers with cost-effective shipping rates as well as excellent support from their team of customer service representatives. This is the perfect setup for individuals who want to start and manage their business in the comfort of their homes. With the right strategies, you can ship your products to Amazon and send them to customers without leaving your personal space.

The Secret to Success: It’s Not a Secret

StrategyDriven Practices for Professionals Article | Secret to Success | The Secret to Success: It’s Not a SecretVisualize your goals and then craft a plan for achieving them

Many people wonder about the secret to success. Successful people are viewed as special, possessing unique talents, vision, and unflagging commitment.

The reality is there is no secret. Success is not limited to a few individuals, but is within the grasp of everyone. All it takes is an honest assessment of your abilities and creating your own definition of success. This doesn’t have to include owning a private jet or a villa in France. You just need to figure out the things in life that will make you happy, and create a roadmap for achieving them.

During my career as a successful commodities broker, I learned a key lesson about success: self-management is more important than talent. The most successful people aren’t necessarily the ones with the most talent, but the ones who believe in themselves and are determined to persevere in the face of adversity.

High achievers are often regarded with awe and respect. They are seen as extraordinary beings because they accomplish so much. Yet there are consistencies in their behaviors that anyone can follow. High achievers:

  • Identify goals
  • Study how to make them happen
  • Plans steps to achieve them
  • Execute

Whether they are called ambitions, purposes or aims, goals can help you live a meaningful, productive life. There’s a difference between goals and dreams. You can dream about winning the lottery, but if you make that your life’s ambition you’re going to end up sorely disappointed, unless you’re incredibly lucky.

Goals are dreams that can be realistically attained. Don’t get me wrong. I have nothing against material rewards. But a desire to be wealthy without a clear path to attaining it is a recipe for frustration.

Businessman and author Philip L. Stephen aptly describes the basic goals of life:

  • Family: what you will do for them
  • Professional: what you aim to achieve
  • Financial: planning for the present and the future
  • Social: the groups you belong to
  • Health: taking care of yourself
  • Intellectual: continuing to learn
  • Recreational: taking the time to relax

A powerful tool in goal setting is visualization. If you can see where you are going, it’s easier to anticipate the complications that will inevitably arise. That gives you an advantage because you’re not just concentrating on achieving an outcome, you’re also figuring out ahead of time how to avoid or face difficulties that will arise.

A frequent stumbling block in developing and sticking to a plan is negative self-image resulting from childhood experiences. You can rid yourself of negative thoughts by telling yourself that you are a unique individual with unique abilities. You can be what you want to be – if you accept that you can. As Henry Ford said, “Whether you think you can or you think you can’t, you’re right.”

Be bold! Don’t be afraid to reset your goals as the need arises. New objectives will form, and they may very well be the means to all kinds of rewards.

To summarize:

  • Define your goals
  • Accentuate the positive, minimize the negative
  • Adopt good habits that center on self-motivation
  • Visualize what you want to accomplish
  • Select goals based on your own needs, not on others’ needs

In closing, remember that the only chains and shackles that hold any of us back from any goal in life are those that we ourselves forge in the fires of doubt and hammer out on the anvils of lack of belief.


About the Author

StrategyDriven Practices for Professionals Article | Secret to Success | The Secret to Success: It’s Not a SecretRaymond Houser is the author of THE WINNING ADVANTAGE: Tap Into Your Richest Resources. He started earning money by selling pecans when he was six years-old. By the time he was 12, he had a paper route in addition to working in grocery stores and a bowling alley. When his dream of becoming a major league baseball catcher ended, he knew he had to focus on other goals. And that is what he did, challenging himself to overcome shyness and knock on doors until he became the highest-grossing divisional book salesman of his time for the Southwestern Company. After that he started, developed, and eventually sold, his own book company. His career had its ups and downs, including a bankruptcy. Yet, despite setbacks, he never gave up. Starting a new career in his 40s, he was hired at Merrill Lynch where he became a successful money manager who earned accolades — and substantial income for himself and his clients — through trust in himself and innovation. In time, he started, developed, and eventually sold, another company. Today he is a sought-after speaker who offers his experience and perspective on managing a career and, most of all, a life. He divides his time between Dallas and San Diego. For more information please visit, www.thewinningadvantagebook.com

How To Succeed As An Entrepreneur: A Guide

StrategyDriven Entrepreneurship ArticleOwning your own business is a huge accomplishment and one that you should be very proud of. However, it’s important to realize that your journey is just beginning and now it’s up to you to navigate the business landscape properly so you can become a successful and thriving entrepreneur.

Learn from your past mistakes and also be prepared to take on experiences that may be novel to you. You can have a great business idea, product or strategy but you’ll likely struggle to make it big unless you’re prepared to put forth an extra effort and focus on a few important initiatives. Use the following ideas to help you find future success so you can have a more enjoyable experience growing your business.

Follow A Business Plan

It’s in your best interest to have a roadmap in place for where you’re heading now and in the future. Document and follow a business plan that specifies your goals and details about how you’re going to go about achieving each one. You’ll better succeed as an entrepreneur when you’re focused on a couple of critical matters instead of trying to spread yourself too thin. Take your time with this project and put a lot of thought behind it so you can make your job easier going forward. Remain flexible and be willing to adjust as you go if you find yourself needing to adapt to a changing industry or business environment. Without one, you’ll likely quickly feel lost and won’t be able to guide or lead others in a clear and concise manner.

Make Wise Financial Decisions

You’ll have a better chance of succeeding as an entrepreneur when you make wise financial decisions. This includes both on a professional and personal level so that you’re consistent and well-rounded in this area. One idea is to subscribe to a related newsletter and follow topics such as money morning so you can gather tips and advice from the experts. Take notes about what you find the most helpful and start coming up with strategies you want to follow so you can be more secure and stable financially. You’ll not only want to know how best to invest your money, but also how to create and follow budgets and keep your business in the green even when money is tight.

Build A Network of Contacts & Supporters

Although you’re an entrepreneur, it doesn’t mean you have to tackle this endeavor all by yourself or feel like you’re alone in this journey. You’ll be more successful in your role when you put your time and energy into building a network of contacts and supporters. Use these people to bounce ideas off of and as a crutch when you’re feeling lost or don’t know where to turn. Put yourself out there constantly by attending networking events and conferences and getting more involved in your community. Follow up with the individuals who you meet so you can reintroduce yourself and stay in touch in the future. It’s also a wise idea to find a business mentor who’s been in your position before and can assist you and offer up sound advice when you’re experiencing any setbacks or struggles.

Encourage Team Culture

As your business grows and expands, you’re going to need to hire people to help you run your company and meet your goals. What will allow you to succeed in your position as a business owner is to hire talented employees who will get the job done right, offer up new ideas and listen. You’ll want to think about how you can encourage a team culture where people are working together to solve problems and get ahead as a group. It’ll be a much more pleasant office environment for everyone when staff members are collaborating and you focus on breaking down silos between departments. Hold regular team and brainstorming meetings to help you accomplish this objective and make sure everyone is on the same page.

Work Hard

The reality is that although being an entrepreneur sounds fun and appealing, it’s a tough job with a lot of responsibility. The whole future of the company depends on your ability to move the needle forward in a positive direction and create a business that’s prepared to go places and experience new heights of success. You’re not going to be able to get the job done sitting back and waiting for the people around you to pick up your slack. You need to be a good leader and have policies and procedures in place for how your employees can get their work done the most efficiently. You also have to be willing to take care of yourself so that you’re healthy enough to run a business and work long hours when necessary.

Focus on Time Management

Another way to succeed as an entrepreneur is to focus on having solid time management skills. You’re going to be pulled in a lot of different directions as a business owner and will need to know how and when to say no to others. Keep a calendar, hire an assistant and create to-do lists so you can get what’s most important done first each day. Remember that your time, especially as a business owner, is precious and you don’t have a lot of it to waste. Set your priorities straight and have strategies in place that work for you and allow you to get through your tasks in a timely manner. Also, learn how to delegate and ask your employees to pitch in and help you when it makes sense. You’ll feel a lot more in control of your business when you’re in control of the clock and your schedule.

Being an entrepreneur isn’t an easy job and will take a lot of extra effort on your part if you want it to be a rewarding experience for you. Use these ideas to help you succeed in your role and build a company that’s going to be around for the long-term. Enjoy the process of watching yourself grow and mature into a reputable business owner as time goes on.

Upping Your Game If Your Business Is Under Strain

All businesses hit rough patches. Of course, the problems really start when you struggle to get yourself out of that rough patch. Perhaps your business has been under strain for a while. Maybe you’re just not seeing the sales that you used to see. There are so many reasons as to why this might be the case, but the issues are often minor and easily fixed if you’re determined and motivated enough to fix them. Let’s talk about upping your business game to help relieve some of the strain.

Always head back to the drawing board.

Obviously, the advice in this article might help inspire you to get your business back on its feet. The suggestions might just steer you in new directions that help you to resolve issues within your company. However, you need to take the initiative. You need to head back to the drawing board on a frequent basis. When it comes to creating a successful business, your work is never done. The market is always changing, and you need to constantly work towards adapting your company in order to survive those changes. That’s why you shouldn’t wait for things to start going wrong before you make changes to your business; you should regularly return to the drawing board and ask yourself whether improvements need to be made.

Of course, it can be hard to keep up with consumers, competitors, and the market as a whole. You might forever feel as if your business is playing catch-up just to remain modern and relevant. The key is to create an effective business that works so smoothly that returning to the drawing board is a formality more than anything. You don’t want to have to spend hours, days, or weeks trying to pinpoint issues with sales, for example. You might want to look into some of the advanced ecommerce systems on the market because they could help you assess your business’ sales on a real-time basis. Having constant access to research and information will ensure that your company can make instant decisions regarding improvements to its structure. Heading back to the drawing board will become a straightforward and painless process.

Tidy up your promotional efforts.

If you’ve worked hard to deliver a product or service that’s just as good (if not better) than the competition then you might want to consider that your business is suffering for other reasons. Most commonly, poor promotional efforts are the reason for a company’s failure to secure potential customers. You need to tidy up your marketing strategy. Work on building your online presence if you want to up your game and compete with other businesses on the market. You need to improve the content on your website and social media profiles; the more relevant they are to search engines, the higher you’ll show up on result pages. Do some research into SEO if you feel out of your depth.

Incentivize your employees.

As a final piece of advice, the best way to up your game if it’s under strain is to increase your business’ productivity. Motivated staff can completely turn things around for a struggling company. So often, the problem is that the workforce isn’t incentivized to go the extra mile. You have to give them a reason to do so. Perhaps you could offer perks and rewards such as bonuses or free lunches for the hardest workers every week or every day. Do something that proves how much you value your employees.

Business Owners: Are You Guilty Of Negligence?…

If you’ve recently started a business, I’m sure you’re quickly discovering just how much goes into making it a success. Your big idea is just the start of it. From there, you need to think about your HR, marketing, IT infrastructure and a whole host of other factors. With so much going on, it’s essential to make sure you don’t neglect anything important. Here are some things that you simply can’t afford to neglect…

Office Data Backup

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Photo courtesy of Torkild Retvedt via flickr

Office data backup is something that you’ll hopefully never have to use, but you’ll be glad you have it if and when the need arises. Backing up your office data is a great insurance policy against the unexpected. Files can be wiped from your servers, sabotaged by a disgruntled employee, or some kind of freak disaster could damage the servers beyond repair. By regularly backing up all your company’s important data, you’ll be able to get the company up and running again soon afterwards. Despite the massive importance of backing up, a lot of small businesses manage to overlook it completely. If you haven’t already, take a look at your options and set up a dependable system for backing up your files.

The Employee Handbook

Neglecting this part of your business is usually a side-effect of rapid growth. In the early days of your business, when there’s only you and a few employees, any kind of solid HR policies aren’t really that necessary. However, when your business starts to grow and develop as an organization, you’ll need to take on a lot more staff. This means you’re going to need some solid rules in place. A good employee handbook will introduce new recruits to the company’s core values, mission and culture, will tell them what’s expected of them, but most importantly, it will tell them what’s permissible and what’s not. By taking the time to draft an employee handbook, you’ll protect yourself from all kinds of costly litigation and disputes. Whether you do it all on your own steam or reach out to an employment law firm like Ellis Whittam, an employee handbook is an absolute must. Just a few printed words can make all the difference to your company’s future!

A Good CRM

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Photo courtesy of Pixabay

CRMs, short for customer relationship management platforms, are great tools for managing your company’s interactions with both current and prospective customers. With one of these in place, your company will enjoy better workflow, will be able to automate various tasks, increase the number of sales leads you’re getting and generally increase productivity. Although these auxiliary programs were once considered a luxury, an increasing number of firms are using them, and they’re quickly becoming something of an essential resource for any modern business. Despite what you may have been led to believe, CRMs aren’t exclusive to big businesses anymore, and the packages on the market are getting more and more cost-effective all the time.

As you move forward with your business, make sure you’re not neglecting any of these and holding your firm back from what it can achieve!