Even if you’ve never been particularly interested in the business world, you’ve certainly heard the recent news that the world’s richest man, Jeff Bezos, has more than doubled his fortune. And this is happening in the midst of a global epidemic and a global economic downturn.
So what is his secret to doing well when most businesses are suffering today?
It is all to do with the market Amazon is in – e-commerce. And everyone knows that despite what is going on in the world, online shopping has become more and more popular.
The best is that new sellers can also ride the growing trend by simply learning how to sell on Amazon. Starting a business on Amazon, however, is no easy feat. There is a steep learning curve, especially trying to do it alone. And that’s where AMZ Family comes in. They focus on helping new sellers to start and scale a business on Amazon, by providing a step-by-step process and guiding them to build a second income stream in these uncertain times.
Meet the Man Behind the Company
Benjamin Tan is a young, talented entrepreneur who knows how to turn adversities into opportunities. In his quest to build a business in his mid-twenties, he used to work long hours together with his wife. As a result of their hectic work schedule, his wife, unfortunately, suffered a miscarriage. It was a major wake-up call to him, and he realized what his goal should be; to be able to spend time with his family, never again having to trade time for money.
“In 2017, my first year of selling online, I sold over $1 million worth of products on Amazon. Since then, I’ve generated multiple 7-figures in sales and achieved all of this while still being able to have the time to travel around the world with my wife and son”, says Benjamin. “Now that I have done it, I want to share with others how they too can achieve it as well.”
Benjamin’s strive for excellence has made him one of the most sought-after Amazon trainers in the region. Having trained thousands of new sellers, he has refined the process into a system that anyone can follow. Many students have managed to start an online business to supplement or replace their full-time income after going through the training.
He also believes very strongly that how you do anything is how you do everything. Other than teaching how to build an online business, he also shares how to be a better business owner and to excel in all areas of life.
Today, Benjamin runs AMZ Family with one mission in mind: to help new and aspiring sellers get started and scale their Amazon business.
Benjamin shared with us some of the tips and tricks that any new Amazon seller should keep in mind.
What is Amazon FBA?
Amazon FBA is a service provided by Amazon that makes it much easier for a new seller to get started. They handle warehousing, payment, fulfillment, and customer service. All that a new seller has to do is to find a product in demand, source it, and send it to Amazon.
Of course, there is more than goes into the entire process, but leveraging on FBA eliminates the biggest issues most new sellers face at the start. There is no need to learn how to build a website, find customers, deal with payment, handle the fulfillment or do customer support.
You can send in as little or as many units as you can, which makes this an extremely scalable model for both new and experienced sellers. When you sell a unit, Amazon takes a small fee while you keep the rest. Amazon wins, the customer wins, and you win!
Understand Buyer Psychology
The key to really excelling in the marketplace is knowing how to identify a market gap. A market gap is basically where there is a demand for a particular product (that does not yet exist or is in short supply) by an existing group of customers, and that’s where you come in.
Once you identify that gap, all you need to do is to source the product from a supplier and sell it to them!
“The reason why most new sellers fail,” explains Benjamin, “is because they try to sell something they THINK the market wants, without first doing proper market research.”
So what is this market research? It is simply reading enough customer reviews to understand what they like and hate about existing products. Once you get an idea of the market, you can plug that gap into your product. And that is what we call product-to-market fit.
Work Smarter, Not Harder
One might feel there aren’t always enough hours in the day to get everything done, regardless of your profession. As a result, you continually feel like you’re falling behind in the rat race. But does working longer hours get you results faster? Not necessarily. The key is to know how to work smart, not just working hard.
“We not only train our clients on what to do but also HOW to think. So that they can become independent business owners that will continue to do well in anything they set their minds to”, says Benjamin Tan. “There are certain 80/20 activities that generate the majority of results in business, and that is what we tell our clients to focus on.”
Many FBA sellers face difficulty in achieving consistent results in this space. If you’re feeling the same way, reach out to AMZ Family, and they will share with you their proven process and how they may be able to help you too!
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