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 frustration and competition. When you use product rank IN ADDITION to other KEY pieces of data, THEN you’ll have have what you need to source products with profit potential on Amazon.

Myth #2

Amazon is already selling all the ‘good’ products.

Myth BUSTED

While Amazon DOES want to be the earth’s biggest retailer, they don’t want to source and stock all that inventory themselves.

They’re looking to 3rd party merchants to fill out Amazon’s product categories. Fortunately there are an abundance of products that meet this criteria and plenty of room for new products in each of Amazon’s categories!

Myth #3

Sourcing profitable wholesale products for Amazon is the same as sourcing wholesale products for any other marketplace (or your own website).

Myth BUSTED

While there is some crossover, it’s important to understand that selling on Amazon is a COMPLETELY different business model than selling on eBay or from your own website.

• The economics are different
• The customers are different
• The criteria for selecting profitable wholesale products are different

Criteria that makes the difference between sourcing a winning suite of products to sell versus those that don’t.

Sourcing the RIGHT Wholesale Products to Sell on Amazon is a step-by-step course that shows you SPECIFICALLY how to source profitable products to sell Amazon.com.

This comprehensive, but easy-to-understand course will take you from the beginning fundamentals of market research and wholesale sourcing on Amazon, all the way through to expanding your business. We have students in the course with annual revenues up to $7 million dollars per year who have learned sourcing techniques that have grown their business an additional $3 million per year.

The Amazon Revolution

Whether you’re just getting started on Amazon or you’re an established seller, the money is in the sourcing! Amazon is looking for online merchants who can bring variety and selection to the marketplace.

Learn this skill and it will provide you with a thriving business for a lifetime.

-Lisa

The post MYTH BUSTING: 3 Amazon Wholesale Sourcing Myths appeared first on WhatDoISell.com.

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 know how to move their merchandise. So once you make that supplier connection, don’t treat your supplier like an anonymous vendor.  Spend some time building a relationship with them.

It won’t happen overnight, but the more you get to know them and they get to know you and the needs of your business, the stronger your relationship will become.

As a supplier gets to know you,  the more likely it is that they’ll want to work with you. You’ll also be first in mind when it comes to letting their accounts know about the good deals, new products and special purchases.

When you initiate contact with a new supplier, focus not only on finding out what the supplier has to offer you, but make it a two-way street. Suppliers are in business to sell their products, just like you are. But ultimately, product sourcing is a people business (just like any other business).  And as you build supplier relationships, you’ll find that your effort and investment will be returned ten-fold.

The post Creating a Winning Partnership with Wholesale Suppliers appeared first on WhatDoISell.com.