When ‘Poor’ Amazon Sales Ranks = Hot + Profitable

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If you sell items on Amazon, you are likely always asking “what’s a good Amazon bestseller rank?” when selecting your inventory.

Despite what other ‘experts’ tell you, the answer isn’t definite. Bestseller ranks vary and change widely, and I have discusssed how snobbish sellers are being too restrictive at their own peril. 

Now I’ve realized that when you find an item to sell on Amazon and it’s sold out on Amazon, bestseller rank is almost irrelevant.

Why? When you’re replenishing that item that’s currently sold out, you’re helping meet a customer demand that (typically) far outweighs the current supply on Amazon.

The (typical) result is when you’re one of the first (or only) sellers to replenish a sold-out item on Amazon, it gets snapped up right away by an eager buyer.

Examples (with ‘Profit Proof’):

> I found this used toy at a thrift store for $3.99, sent it in via Amazon FBA and it sold for ~$19 within a few days. (Sales Rank: 175,000).

> This product (bought for $5.99 at a yard sale) sold for $30 within just a few days. (Sales Rank: 313,00!)

> This toy (bought for $5 at a thrift store) – with a sales rank of 459,000! – sold within a few days for $39.

The common thread for all these items is that before my ‘stock’ was received at Amazon, they were ‘sold out’ (Amazon calls it ‘Currently Unavailable’.)

Now that I know these items are in short supply on Amazon, I can keep my eyes peeled for them or place a free ‘wanted ad’ on Craigslist or Freecycle to ask local folks if they have any - used or new – that they’d like to sell (you’d be surprised at how many people respond to such ads).

So next time you’re out scouting and you scan an item with a ‘poor’ bestseller rank, check the # of sellers. You can likely flip the item for a good profit very quickly, especially if you’re the only seller of it.

FREE: I go more in-depth with similar Amazon selling strategies with my e-book bundle.

Also FREE: If you haven’t sold on Amazon yet, learn how, step-by-step, with this guide.

Do you have an example of a quick-selling product that was previously ‘sold out’ on Amazon?

Happy selling,

-Jordan

eBay/Amazon Experts Say my "B.L.e.S.H.a." System Works

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Two online selling experts just cited the usefulness of my latest e-guide, “B.L.e.S.H.a.”, or “How to Buy Low on eBay and Sell High on Amazon.”
Skip McGrath’s latest free newsletter says my guide “shows examples of how [to find things on ebay] selling for pennies that are actually quite valuable because the seller didn’t know what they had.” You can read his entire post here
(I call Skip the ‘Godfather of online selling’ because he truly is one of the most revered experts for selling anything online, and he’s been at it the longest. (Full disclosure: Skip is an affiliate of my B.L.e.S.H.a. guide).
Nathan Homquist’s latest Blog post says he has used my B.L.e.S.H.a. strategy to purchase electronics on eBay and then sell them on eBay for double the price. I got my start selling on Amazon with Nathan’s free e-guide, and he is one of the major reasons I have made  $105,000 via Amazon FBA in 2011. (Full disclosure: Nathan is an affiliate of my B.L.e.S.H.a. guide).
You can get my “B.L.e.S.H.a.” guide here, or just view the video below.

-Jordan

Bloomberg News talks about Amazon FBA

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Here’s a terrific story about the positive impact 3rd-party Amazon sellers (like you or me) are making on Amazon’s bottom line:

Photo (c) Bloomberg 2012

Here

The highlight for online sellers, if you take away just one point, is “[Amazon is] training the consumer to start and end their shopping process at Amazon“.

In other words, Amazon’s CEO Jeff Bezos wants consumers to rely on Amazon for all their ‘consumer needs’, which makes for a friendly atmospher for us 3rd party sellers because we find (among other things) goods that fill in those tiny niches.

(In other words, if an Amazon Prime customer in Beaver Creek, Montana needs a package of 1500 live Ladybugs shipped to his/her door in 2 days, chances are they’ll find it on Amazon.)

If you’re not selling on Amazon yet, here’s a free guide to get you started (it’s the same one I used when I started 3 years ago).

-Jordan

Logo? Pay $5 and Get On With Your Life, Already

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I did some reminiscing today.

Click on This for Larger Image

See the image to the right? It’s a mockup of my new (upcoming) home page at JordanMalik.com. Each of those logos is a company/blog/publication/service that I own. (you can click on it for a larger viewing).

I just looked at all the logos in there and realized that I paid $5 each for just about all of them. (Although I probably tipped the graphic designers who made them an extra $5 each or so, if they did a really good job).

Now the reason I brought this up is because of the ‘reminiscing’ part.

I looked at the logos and I thought about about all the morons I’ve worked for in the past who spent thousands of dollars in cash and/or internal resources designing their logo and getting it “JUST RIGHT.” Wow, how narcissistic can you get.

I know what you’re thinking: “Jordan, ten years ago you couldn’t get a logo designed for under $1,000.” True, but companies that could either voluntarily paid – or got sucked into paying – thousands of dollars more. Or they sucked up the equivalent of thousands of dollars in resources lost (i.e. political waste like managers’ approval, staff designers’ time, ‘getting consensus’, lunch meetings, etc.).

Corporate managers and MBA-types call all this sweating over a little logo “refining their corporate image” or “building their brand”. But that’s a load of hogwash and completely ridiculous. And a complete waste of money. Look at Craigslist’s logo. Nothing but typeface, right? Craigslist didn’t need a fancy logo to be successful (that’s a lesson for another day, though).

So if you want a logo, pick some favorite styles you’ve seen in others, think up a simple company name, then get a designer at Fiverr.com (where I got mine done for $5) and get it done already, and move on with your life. After all, you have bigger fish to fry.

And if anyone critiques your logo (which is another reason why business owners needlessly sweat over a logo’s details – they’re “afraid of what others will say/think when they see it”), tell them to read this same blog post. And then charge them $5 for the advice.

-Jordan

9 FREE Ways to Source Inventory to Sell on eBay or Amazon

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I think that all the great adventures can be written on the back of a beer soaked napkin
- David Lee Roth
Online sellers:
Click on this, then print it out and keep it handy.
Sometimes I marvel at how simple things are, yet we’re afraid to try them because they seem too simple. (We’re trained to think that becoming successful at selling online requires deep complexity, aren’t we?)
But really, the fundamentals are simple: Learn what sells well online, source the crap out of it, and sell it, again and again.
I have a handful of my favorite niche-hot, out-of-production toys that I source locally (for $10 or less ea.) and sell (and  repeat again and again) for 125- 175%+ ROI (Return on Investment).
Because my eBay/Amazon listing stays the same, I just keep replenishing my inventory, and relisting the item.
Now I’m giving you the same method I use. All you have to do is think of one of your favorite things to sell online (particularly something rare, used, or out of production):
- Maybe it’s a VHS copy of a rare film
So whatever your ‘favorite item to sell is’ use my ideas (in the diagram above) to “source the crap out of it.”
Good luck and keep me posted,
-Jordan


Why Selling on eBay Still Matters

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I know many sellers have left eBay in droves, to sell on Amazon. I’m a big proponent of selling on Amazon too.  But I am finding eBay, as I always said, fills in an important niche for me.

See, Amazon sellers are restricted from selling pre-owned clothing and apparel. But they can on eBay.

You can’t sell vintage or one-off items on Amazon (well you can but it’s a difficult process and no one’s really looking for that stuff on Amazon anyway). But you can on eBay.

Fact is, eBay has a HUGE audience, credit card in hand, looking for that stuff. I am going to give you 3 examples of my own sales to prove it.

1.) Used Coach Sunglass Pouch. I paid $10 at an estate sale, my wife used it for a few years, and then we sold it on eBay (within hours of listing it) for a Buy-It-Now price of $55 (Profit: ~$35). Apparently they are in hot demand.

2.) Used Tumi Duffle Bag. I paid $25 at a yard sale, used it for a few months, and then I sold it on eBay for an auction price of $98 (Profit: ~$50) ‘New’ Tumi duffles are $300 and up.

3.) Used Size 13 Skechers shoes. I paid $21 total at a yard sale, put them on eBay, and sold the lot for $78.77 on auction (Profit: ~$40. I didn’t know folks would buy used shoes at that price but I suspect size 13 is hard to find (?).

So keep your eyes peeled for those items at your local yard sales, estate sales, garage sales, etc.

SPECIAL OFFER UNTIL 2/28/12: A 400+ page e-Guide with HUNDREDS of other similar items to look for at yard sales, estate sales, HERE. 50% OFF ($49 instead of $97 when you use code JBMALIK at checkout). I am double-backing the 100% Satisfaction-or-your-Money-Back Guarantee on this e-book.

Amazon Begs Sellers, Part Three: 1,913 Baby Items Wanted

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Some/all Amazon FBA Sellers (including myself) got the below email from Amazon this week. This is a gold mine of information – Amazon is essentially giving you the exact information about 1,913 HOT HOT HOT Baby Items that they are running low on. Read more below. 


Why is this information a ‘gold mine’?  Because these items have extremely good sales ranks AND they are in short supply in Amazon, you (as an Amazon seller) can essentially ‘name your price’ (within reason) if you are able to source any of these. (Good-bestseller-ranked items in short supply mean that customer Demand is far outpacing Supply. Pure ‘economics’ lets you raise the price of an item in short supply, that is in high demand. That’s just the nature of efficient markets). 

How can you find some of these 1,913+ Baby Items? Some are impossible to find, of course, but you can do a search on TheFind.com (which searches multiple online stores).

Amazon’s email to sellers is below:


Dear FBA Seller,

Thank you for selling on Amazon.com with our Fulfillment by Amazon service (FBA).
Right now, there are Baby products that have high customer demand but that aren’t being fulfilled by Amazon (but may be in the future). If you have any of these products or can get them, you might want to list them on Amazon.com and fulfill them using FBA.  Note that, at this time, we are looking for products in new condition only.   

We know that customers love buying items with FBA benefits, such as FREE Super Saver Shipping, Amazon Prime, and Guaranteed Accelerated Delivery, so this is a great time to consider testing a small quantity of these items in FBA.

See the list of 1,913 products here:  (Link will expire in 14 days)

Thank you again for selling on Amazon.com.

Sincerely,
Amazon Selling Coach

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