Working in the office for 8 hours or even more than that is not the only way for us to earn money. In fact, now, we can make money even in the convenience of our own home through Amazon selling.
However, as an aspiring entrepreneur who wants to commence your products to millions of prospects in one of the largest online marketplaces, you would often be left with numerous questions in mind such as how to get started, what products to sell or how to sell effectively.
Managing Your Business Account
Starting a business on Amazon can be intimidating. But with some common sense and willingness to dedicate your time in learning, the process will become easier. Once your account has been approved and your products are all set for listing, you're good to go. On the other hand, you should be ready to face the major challenges of selling including managing your financial resources and maintaining the right quantity of your products.
In your Amazon business account, you'll see information such as;
By understanding this information and managing your own Amazon business account, you can easily monitor if there are certain issues or buyer claims, therefore provide a solution at the earliest.
Understanding FBA And FBM
As an Amazon seller, one of your most important decisions is whether to sell through FBA (Fulfillment By Amazon) or FBM (Fulfillment By Merchant) or both. The best way to decide is to assess the size of your operation and understand the underlying fees.
Selling Through FBA
For an FBA product order, Amazon would be the one to receive the information, pick up the stock from the storage, pack it and ship it to the one who placed the order. One good thing about FBA is that customer these days often trust sellers who are offering products that are associated with Amazon more over those who aren’t. There is also no need for the seller to worry about fulfilling the orders of their customers and so, they can focus more on the other important aspects of their business. Also, as Amazon would be the ones to store the products in their inventory, the seller need not rent a space or take a lot of space in their home for the items.
Selling Through FBM
While in FBA, Amazon is the one responsible for handling and shipping the goods, with FBM, the seller would be the only one responsible for fulfilling the order/s of the customers and basically everything. When the item got damaged, went missing or has been delivered late, then the seller is solely the one who is responsible for it. They are also more likely to pay more overhead costs. On the other hand, FBM gives the seller an access to their inventory anytime they want. They are also given more control over their inventory. In addition to that, there is also no need for them to pay for the fulfillment and storage fees. Hence, they can make more sales in every product that they were able to sell.
In a nutshell, how you plan to sell is all comes down to how you choose to leverage the marketplace and its services to meet your business needs.