Is Starting an Amazon Business Right for YOU?
I understand... it's a big decision.
You've heard about this exciting new opportunity building a business on Amazon selling your own brand of physical products. You've seen all the results ordinary people are getting doing this business.
Perhaps you've even watched some free training like our Amazon Tycoon Video Series and thought, you know what... that actually makes sense and I think I could do that!
I know when I was deciding whether to jump into this business, I procrastinated about whether it was the right opportunity for me and my company.
In fact I put it off for quite some time partly because we were busy with other things, but mainly because I couldn't make the decision. I really regret that and if there was one thing I could change it would be to go back and start our Amazon business earlier.
It really isn’t a question of whether or not the business model and methods work, the proof is that it does.
The question really is…… Is it right for YOU?
Only you can decide that but the aim of this post is to try and help you through the thought process with some common concerns I get asked a lot.
1. Is this the RIGHT Opportunity for me?
Apart from the income potential, the thing that really attracted me to this type of business was that it's a REAL business with REAL products.
Before this I used to run information websites that earned money from selling advertising, and whenever someone asked me, what I did for a living, I would try and explain what I did to them.
The problem was I would then have to spend the next 10 minutes trying to clear the blank expression off their face – people just didn’t get it. It got to the point where I avoided telling people what I did.
Now I’m proud to say that I run an ecommerce business – people get it straight away and they don’t look down at you as if you need to get a real job. I love the fact that I run a REAL business with REAL products, selling to REAL customers and it’s brought me back into the REAL world!
2. Are you Self Motivated?
This is a real business and real businesses take work… plain and simple. This is NOT a get rich quick scheme so you absolutely need to be prepared to do some work and take action.
The thing is, there's no-one checking up on you, no boss, no supervisor. It's all down to you to have the discipline to take action and carry out the steps required. You will have to own your success, because if you don't, no one else will.
So the question you need to ask yourself is…. Are you self motivated? Will you actually do the work that is needed to be successful with this program?
If you answered YES to that question, then I’ve no doubt you will build a successful business… how successful really only depends on the amount of work you are willing to put in (which is very easy to do once the money starts rolling in!).
3. Do you WANT to work for Yourself?
I know a lot of people need that social interaction they get by “going to the office” and dealing with colleagues on a daily basis.
So the question is do you want to be your own boss and work from home?
You will interact with Suppliers and Customers on a daily basis, and there are professional communities of people doing this business model where you can get a lot of help, support and social interaction (which I highly recommend by the way!) but it still isn’t the same as seeing co-workers day to day.
In the longer term that opportunity will present itself again as your business scales and gets to the point where you might want to hire staff to expand quicker than you can by yourself, so you may get back to that environment, but this time with you as the boss!
Of course, working for yourself comes with its own benefits, no pressurizing bosses, no unwanted overtime or late nights, no dealing with other peoples mess ups or incompetence, and freedom to do what you want when you want!
4. How much TIME and MONEY do I need?
I know this is a valid concern that most people have, including me when I was making my decision.
My advice is that if you really want to make a life changing move and take steps to secure your future financially and achieve personal dreams of running your own business then it really shouldn’t be about not having the money or enough time, because if you really want those things then you will be able to find the time and find the money.
But let me address some of the concerns you might have.
How much TIME do I need?
As a minimum you need about 5 to 10 hours a week to get started. Again, you will get out of the business what you put in, so the more you put in, the faster you can scale your business with multiple products and income streams.
What may surprise you is the number 1 reason people want to start their own business is NOT just about money, it’s because they want more FREEDOM, more time to do the things they want to do. Ultimately this opportunity can give you that.
You can take it as fast or slow as you want. In fact many people I know in this business started part-time while still working their 9 to 5 job.
Of course the more time and money you can invest, the faster you can grow your business, but you really can go at whatever pace you're comfortable with.
It’s your choice and you can grow and scale the business at whatever pace you like.
How much MONEY do I need?
You will need some capital to purchase your first batch of inventory.
You don’t have to buy large quantities for your first order, in fact suppliers expect a new customer to purchase a trial run and it's easy to arrange this with suppliers.
Once you see how the product takes off you can use the profits from the first batch of stock to reinvest and place a larger order.
You can start with as little as a few hundred dollars of inventory, but if you can afford to, then I would set aside at least $1,000 to get a good initial quantity of stock and also hire professionals to design your packaging and shoot your product images.
Of course the more you have to invest the less of a grind it will be and you will have more money to spend on marketing and launching more products.
However, I really have seen people start with just a few hundred dollars and just keep multiplying their capital one batch of stock at a time into very large businesses.
5. Do I have to be in the US to do this?
Absolutely not! I've seen people doing this from 100+ countries and still counting.
You can choose to start with any Amazon Marketplace. I recommended to start with amazon.com for the simple reason that the US market is the biggest and will drive the highest number of sales but it’s entirely up to you.
You can always expand into additional marketplaces at a later stage so you can choose wherever you feel most comfortable to start with.
You get your suppliers to ship direct to the Amazon warehouse in the USA or whatever marketplace you choose and Amazon will ship the product out to your customers for you.
So... you really don’t need to be based in that country and you can do this remotely from anywhere in the world (I've even seen people do it while travelling).
6. I have NO IDEA how to run a Business
This is another common concern… not having any experience running a business… Legal Requirements… Taxes… Sales Tax… Insurance… etc.
I understand this concern, but please don’t let it be a roadblock. You are not alone, many people were in this position.
You really don't need to worry about this at the startup stage... just get going and deal with it later.
By the time you actually scale your business to the point where this proper setup is required your monthly income will be high, and you will be able to afford the few hundred dollars it requires to get a local professional such as an accountant to deal with all this for you.
Do NOT let this worry hold you back, there are thousands of professionals within a few miles of your house that will take care of all this for you when the need arises.
7. Will I be able to do it?
Come on... where's that positive thinking!
Let me say one thing. I've been working on the internet now since 2001 and I've never seen so many success stories and certainly not the speed at which people are hitting high monthly amounts... EVER!
I’ve seen people with ZERO experience launch on Amazon and within 6 months be at $15k, $30k, $50k and more per month. (the highest I've seen is around $2million per month!)
So I’m confident to say, that yes you can do it, if you are prepared to take action and work at building your business.
If you want something better than doing it all by yourself then you can take a more professional approach and join a good professional Amazon training program.
You have to be careful as there aren't many really good ones. By that I mean those that provide not just a bit of training, but also coaching, support, resources, tools and most importantly collaboration and keeping you up-to-date with the latest exploits.
There is only one that I am a member of and currently recommend and if you scroll to the bottom of the Amazon Tycoon training page you can get all the details of it here as well as access a special free training session with one of the coaches.
Ready to Jump In?
If you have read through all those concerns and answered positively to each, then I would jump in with both feet as quick as you can…. I promise you will not regret it.
This business has created so many Amazon Millionaires, in fact many are now multi-millionaires and will never have to worry about money again in their life.
YOU… could be the next.
Have you watched our FREE amazontycoon Video Training Series showing you how to build a REAL, SUSTAINABLE, LONG TERM business selling your own brand of physical products and leveraging the insane traffic and infrastructure of Amazon?