Are you prepared mentally, emotionally and financially to start selling on Amazon?

New Year, new set of goals to accomplish. Perhaps one of your goals is to start selling on Amazon and turn it into passive income eventually. Not gonna lie, it is doable and feasible but selling on Amazon is far from being a passive income. But once you understand the ins and outs and all the complexities that come with being an Amazon seller, guaranteed you’ll reap rewards.

Before you get ahead of yourself, you need to be mentally, emotionally and financially prepared if you want to venture into the world of Amazon selling. Financial preparation is a no-brainer. You’ve got to have the capital to start—for your initial inventory, product photography, and advertising. If you think you can start with $500, think again. If you don’t have the capital just yet, invest your time in learning everything you can about selling on Amazon. You don’t have to pay for any course. There are a lot of resources online available for FREE, this blog included. Don’t be lazy, just Google it.

In my 8 years of managing Amazon accounts, I never bought a course. I learned by experience, reading blogs and Amazon seller forums, watching videos, etc. If you really want to learn, there’s nothing stopping you—only your excuses.

By investing time to learn about selling on Amazon, you are also preparing yourself mentally and strategically. You won’t be going in blind and you will avoid making a lot of mistakes at the beginning. Don’t get me wrong, you will still be making mistakes and wrong decisions, like ordering too much inventory or choosing the wrong supplier, because it’s all part of the experience. But if you learned the technical aspect of the business, you will be making less mistakes.

On the emotional aspect, I guess it comes with the territory of investing your own money into the business. I get that you don’t want to lose money but starting a business, any business for that matter, comes with risks that you should be comfortable with. Sometimes, you win some and you lose some. What’s important is you make informed business decisions based on data and not feelings. If you want your business to grow, you should have the expectations that you could lose money along the way and it would take time to get back your invested money.

Another thing, you will be receiving negative reviews, it’s part of the process, but don’t let yourself be affected emotionally. Brush it off and move on—but if the negative reviews are more about quality issues then it’s time to reassess your product. There is no point investing a lot on advertising if you have a faulty product.

Always remember that selling on Amazon is a long-term game and never a get-rich-quick scheme—patience plays a big part. Lastly, you’ve got to invest not just your money but also your time if you want to be a successful Amazon seller.

Got questions? Drop a comment or send me an email.