MYTH BUSTING: 3 Amazon Wholesale Sourcing Myths

When it comes to sourcing wholesale products to sell on Amazon, there are many myths and misconceptions.

In today’s post, I’m going to “bust” 3 of these myths!

Myth #1

To successfully source wholesale products on Amazon you should look at an Amazon hot list, find a product that has a Top 1000 ranking; then locate the wholesale supplier for it, sit back and watch the profits roll in…

Myth BUSTED

While it is valuable to know what products are top ranked on Amazon, sourcing wholesale products using this method will only lead to Continue Reading →

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5 Very Bad Product Sourcing Traps

Are you inadvertently making these product sourcing mistakes? Even experienced online merchants fall into these traps!

Read through the list below and see if you recognize yourself in any of these scenarios…

Changing just one of these bad sourcing habits can add thousands of dollars and more to your bottom line every year!

Stuck in a rut selling only low dollar, low margin products. Why turn $1 into $11 if you can turn $50 into $100?  Continue Reading →

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Creating a Winning Partnership with Wholesale Suppliers

Once you’ve identified the products you want to source, the next step is in finding the right suppliers and building a relationship with them.

Even though you’re running an online business, it’s important to understand that building supplier relationships is one of the most  important success factors you can have!

There are many ways to locate legitimate wholesales suppliers. Trade shows and trade publications to name a few!

Suppliers are motivated to work with sellers who Continue Reading →

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5 Product Sourcing Mindset Shifts

Every sale involves a buyer with a specific want or need.  When you sell online,  it’s your job to figure out what consumers want to buy and then provide it to them.

Most people approach this backwards. They find a product they want to sell and then look for someone to buy it.

Unfortunately, that method rarely works. And when it does, you might search for years to find the right buyer.

However, these five mindset shifts will help you approach product sourcing differently.  And put you on the path to answering “What should I sell?” or “What else should I sell?”

Mindset Shift #1: When you start looking at what people WANT rather than Continue Reading →

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Are You Building a Business or a Hobby?

A big part of generating a consistent income online is taking consistent actions.  Spending time every day working on your business.  Yet far too many people let how they feel at any given time to determine what they do.

While starting your online business, you’ll likely have other responsibilities – a day job, a family, commitments to your community, a home to run. Time is a premium and often the consistent actions required to build your successful online business are edged out by “life”.

For example, you have great plans to work on your business on Monday night when you get home from work.  But Monday at the office was hectic, you had to take the cat to the vet after work, and your kids had soccer practice. By the time you wrap up the day it’s 9:00pm and all you want to do is sink into your comfy chair and turn on the TV.

It’s at this point a moment of decision occurs.  Write a blog post?  Work on the articles for submittal to Ezine Articles?  Or… take the night “off” and sink into the easy chair.  After all, you’ve worked hard all day, you deserve it.

Unfortunately many people will choose Continue Reading →

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From $0 to a $2 Million Dollar Success

I had just put the finishing touches on the first blog post in my new blog series Want to Have Success Online? Find a Niche and FOCUS! when I heard that Wai Hong Fong owner of OZHut Stores and one of my 2008 Business Growth Group members had just made the prestigiousSmart Company 2010 “Hot 30 Under 30″ List!

First, I want to congratulate Wai Hong and his team!

This is a great example of how vision and a niche focus led to Continue Reading →

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Want to Have Success Online? Find a Niche and FOCUS!

Often I’m asked this question: “If there was one piece of advice you would give to up and coming online sellers, what would it be?”

My answer to this question is always the same and it applies no matter what you sell or where you sell it.

Your best opportunity for creating a successful business on the Internet is to…

Find a niche and FOCUS.

* If you’re a jack of all trades, master of none, it’s time to Continue Reading →

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