My wife and I have been selling physical products online for quite a while now, and while we continue to make good money, the upwards trend has stopped and we are now sitting at more of an average number of sales per month. This was always going to happen, unless I started finding new ways to market our product or new places to sell it.
Recently I have seen many different bloggers I follow talking about selling physical products on Amazon.com and utilising the Amazon FBA program, which essentially allows you to have a hands off business where your only action is to market and order more stock as required. It’s not something I have really considered before, and it’s pretty different from many of the more traditional ways people normally try to make more money.
So I have started looking into this a lot more seriously over the last couple of days, and I honestly think this is a really good avenue for me to explore, particularly considering my most recent post where I recommitted to trying my best to achieve my 5 year goal of financial independence.
Unfortunately the product that my wife and I currently sell online is in one of Amazon’s restricted product categories and so i’m not really all that interested in working my way through that just yet, particularly when we are still seeing decent sales numbers through our main website.
The end result is that I have decided that I want to trial this whole Amazon FBA selling thing with a different product and see how things pan out. It’s a bit of a risk, but if I am serious about being my own boss, I need to take some risks.
The next step if to learn as much about what makes a good product to sell, understand how the Amazon market place works and also see what hurdles I will need to overcome to make this next project a success. I’ve also decided that I will do my best to document my progress at a high level so that others might be able to repeat the process should it yield results.
In my next post I will list out the various tasks that I think I will need to complete and how I plan to address each one. Hopefully this series will make for some interesting reading.