Comments on: How I Built and Sold My Amazon FBA Business For 7 Figures https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/ Money | Minimalism | Mohawks Thu, 08 Jun 2023 11:37:23 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Jon Elder https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-303556 Mon, 29 Jun 2020 15:49:35 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-303556 In reply to Joel.

You’re very welcome Joel!

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By: Joel https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-303362 Fri, 26 Jun 2020 16:02:18 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-303362 In reply to Jonathan Elder.

That was super useful Jon, thanks

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By: Jonathan Elder https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-302921 Thu, 18 Jun 2020 22:01:41 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-302921 In reply to Jim Dale.

Hi Jim! Yeah, most gurus are totally fake! They have no idea what they are talking about and scam people all the time. It actually drives me a bit nuts all the nonsense I see online nowadays.

The first example is finding a product. The key is to find something with a nice even spread of sales revenue among a few competitors. This is a green light because it tells you that the sales aren’t going to just one seller. Next would be to examine the competitors and reviews to see if you can solve common problems with their products. Basically, your goal is to launch the best, most innovative product in that category. Sounds simple but this takes hours and hours if research. Very effective though!

Second example is sourcing. Always and I repeat, always connect with three factories for each new product and send some odd ball questions to test their customer service skills. Then always order a final ample of your product and compare quality between them. Whoever gave you the best performance will end up being your factory of choice.

I hope these two examples are helpful! If you’d like to connect more, feel free to reach out.

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By: Jonathan Elder https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-302512 Wed, 10 Jun 2020 22:07:21 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-302512 Yeah, most gurus are totally fake! They have no idea what they are talking about and scam people all the time. It actually drives me a bit nuts all tye nonsense I see online nowadays.

The first example is finding a product. The key is to find something with a nice even spread of sales revenue among a few competitors. This is a green light because it tells you that the sales aren’t going to just one seller. Next would be to examine the competitors and reviews to see if you can solve common problems with their products. Basically, your goal is to launch the best, most innovative product in that category. Sounds simple but this takes hours and hours if research. Very effective though!

Second example is sourcing. Always and I repeat, always connect with three factories for each new product and send some odd ball questions to test their customer service skills. Then always order a final ample of your product and compare quality between them. Whoever gave you tye best performance will end up being your factory of choice.

I hope these two examples are helpful! If you’d like to connect more, feel free to reach out.

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By: Jim Dale https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-302299 Fri, 05 Jun 2020 16:25:50 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-302299 I’ve seen many posts such as this one, but unfortunately most, if not all of them, lack actual substance and are more-or-less of a ‘I did this, so can you, now enroll in my course.’

I understand you cannot divulge all of your strategies, but was wondering if you could provide at least two concrete examples (it can be anything – sourcing, finding niches, etc) , given that the FBA market has been around for a long time and tons of gurus have educated thousands of other now-gurus.

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By: Jonathan Elder https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-301584 Thu, 28 May 2020 14:25:22 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-301584 In reply to Ramona.

Anytime Ramona! Yes, I expanded on those things down below in response to another comment from a reader. There is a variety of things to look for when launching a product that’s for sure! Keeping the customer excited and coming back for more is actually the hard part.

I’m glad you enjoyed reading about my story!

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By: Jonathan Elder https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-301507 Wed, 27 May 2020 16:34:20 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-301507 In reply to Boyd Kitchen.

THAT is one the most common questions I get believe it or not. There is so much bad information out there from fake “gurus” who dish out nonsense. Really, it comes down to three things. The first is passion. Find a product category you are truly interested in. For example, I have zero interest in women’s makeup, so I wouldn’t even consider entering this space. However, I’ve always been interested in sports so I ended up selling quite a few sports products. This is critical.

Secondly, you need to find an untapped niche. This is the hardest part and requires quite a few hours of research and note taking. The goal is to find a product that has very few competitors allowing you the opportunity to enter the space with an AMAZING product and establish yourself as the authority/leader.

Thirdly, the price point needs to be a minimum of $20 but I’d recommend something more in the $50-$100 range. This type of product price will drastically increase your margins! There is far less competition in higher priced product categories as well.

If you have more questions or would like come consulting, please reach out! I hope this was helpful :)

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By: Boyd Kitchen https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-301470 Wed, 27 May 2020 01:48:50 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-301470 Any thoughts on how to select a product to sell? Seem like there is a vast world out there and difficult to narrow on a product to sell.

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By: Ramona https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-301449 Tue, 26 May 2020 18:40:25 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-301449 In reply to Jonathan Elder.

Probably the secret ingredients: little competition, low quality of the current offering and a a very good strategy: to keep the customer excited, since they are the ones who grow our businesses.

Super story. Thanks for sharing it ;)

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By: Jonathan Elder https://eliteedgemoney.com/how-i-built-and-sold-my-amazon-fba-business-for-7-figures/#comment-301442 Tue, 26 May 2020 17:30:42 +0000 https://staging.eliteedgemoney.com/?p=62933#comment-301442 In reply to Angela Jean Pannkuk.

Hi Angela! Here’s a quick link to a search for “golf brush” on Amazon.com: https://www.amazon.com/s?k=golf+brush&ref=nb_sb_noss_2

Golfers absolutely love these things! I used to golf so I already had an interest in this product. As you can see, there are many customers looking for different kinds of golf brushes! The golf brush is basically a two sided bristle brush with a pick at the end to dig dirt out of clubs and golfing shoes. My factory overseas was actually the supplier for golf accessory products for the PGA tour!

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