So you’ve been selling on Amazon for a little while - you understand the process, you are sourcing products, shipping, and making sales. You’ve got great ambitions, but you’re unsure exactly how to take it further and scale.
Lots of FBA sellers find themselves in this position and often see their sales plateau. They’ve had a taste of success and they’re ready to double down and scale their businesses to the next level, but are unsure where to start and the right system to follow to quickly execute a change.
In reality, scaling an Amazon FBA business can be more straightforward than you think and there is a process to it. If you’re smart you can leverage your existing assets, experience, and customer base to increase your revenue. This is while also focusing on the 6 steps of systemisation at the same time, so that you can systematically outsource the majority of your processes to an expert team too.
Are you looking for inspiration to add digits to your monthly Amazon income? Do you want to make 2022 the year where you scale from a 5-figure business to a 6 or even 7 figure business? If that is you, then read on...
Here are 5 ways to transform your FBA business into a supercharged e-commerce empire.
These are tried and tested methods that sellers within our Academy are using that have had an exponentially positive impact on their revenue and profits.
1. Launch More Products
You’re no doubt selling within the comfort zone categories or a particular niche and you’ll have gained a fair understanding of what is selling well throughout the year. So why not continue to build your portfolio of products and expand the category you list in?
Additional products and categories should be selected carefully. Looking for products your existing customers are also interested in. It’s easy to start your research on Amazon by looking at:
Subcategories within the current main categories you are selling in
“Sponsored products related to this item” from product listings
“Customers who bought this item also bought” from product listings
Your competitor’s Amazon Store
The next step of the process is looking at supply and demand. Pick out products with great potential, fast sellers that can help to boost your sales.
Where capital allows, you may want to consider high ticket/value products that can provide higher margins or fast selling products with lower margins but with greater volume of sales.
2. Build A Transformational Team
If you still haven’t hired VAs or built a team yet, now is the time to do it. Scaling your business doesn’t need to require as much extra work if you leverage skilled professionals and freelancers to do the work for you.
Think of the most time-consuming tasks. Can they be automated? Is there a software that can help or could it be outsourced to a professional?
Virtual Assistants can take on the following types of tasks and more... Sourcing, Replenishing, Reviewing Deals, Purchasing, Data Entry, Customer Service, Admin Tasks
Looking for to Build Your Transformational Team? Book a call with the Global VA Solutions team to receive a free tailored plan that meets your needs.
3. Expand Your Marketplaces - Go Multi-Channel
The biggest benefit of selling on Amazon is leveraging their marketplaces.
If you are currently selling in one marketplace why not expand into others to increase your reach and sales.
If you’re interested in diversification by growing outside of Amazon too, here are some ideas for getting started:
Set up your own ecommerce website using Shopify
Create an eBay business account and cross fulfill between Amazon and eBay
Amazon is by far the largest Marketplace, with the most opportunity to scale and run a hands-off business through the use of their fulfillment service, however, eBay is soon to launch their Orange Connex fulfillment programme that you may wish to take full advantage of.
4. Seek Capital For Growth
Is raising capital holding you back from expanding your product portfolio? You need capital to invest, so check out these simple solutions:
Credit Card: A business credit card can be a simple and fast way to cover large and small business expenses online and in person. Most banks offer the option of a credit card with their business current account, but your business will need a credit check before it’s approved. Your card will have a monthly spending limit.
One that is widely used in the Amazon circle is Capital On Tap!
It takes approx 4 minutes to register and be approved (balance limit based on business revenue)!
The credit limit far exceeds other credit cards (we got £25,000)
They don’t charge monthly interest fees as long as you pay off the balance in full per month
They offer 1% cashback for every £1 spent e.g. if you spend £100 in one month you’ll get £1 back off your credit card bill
It also offers reward points – use for flights (AVIOS), cabin upgrade, car rental and shopping discounts
You can opt for more than one card and could use an additional card for your review and purchaser (and set a budget limit to that card)
If you spend £5k on the card in your first 3 months you’ll receive 10,000 bonus points to redeem for either £100 cashback or 10,000 Avios points – I googled what these points can get you for free in flights = a Reward Saver Return Flight to Paris!
Amazon Loans: Amazon Lending is a program in which Amazon offers short-term business loans to qualified sellers so that they can finance additional inventory to sell through the Amazon marketplace. Amazon loans are invitation-only and amounts range from £1,000 to £750,000. Amazon Lending does not check credit.
To receive an Amazon Lending short-term loan, you must receive an invitation from Amazon. Only registered sellers are eligible so you must have an active sellers account and a selling history of at least one year. Usually, you will be notified on your main dashboard when Amazon has a loan amount on offer to you. Loan offers are made to sellers that would most benefit from a loan to expand their businesses and repayments are automatically taken at intervals from your available funds.
5. Scale By Joining The Academy
The Arbitrage Experts Academy (AEA) is designed to help eCommerce business owners to systemise and scale their business to 6+ figures by providing an expert coaching programme.
Here's how it works?
AEA provides you with everything you need to be successful in business. No lecturing — we provide an environment and building blocks so you can build your systems in sequential order and learn to delegate to your team effectively.
We turned the guesswork of starting/growing a business into a science. Follow practical step-by-step instructions that are proven to work and track your progress using reliable metrics with our Arbitrage Uplevel course.
Most course programmes teach a specific skill, this creates clueless entrepreneurs who don't understand the whole process. To succeed in business you need to learn the "full stack" — five interconnected layers of consciousness built on top of each other:
Mental awareness — Identity, purpose, discipline, beliefs
Mental cognition — Focus, plans, prioritize, problem-solving
Business principles — Frameworks, concepts, mental models
Business disciplines — Strategy, product, marketing, sales
Business processes — Tools, systems, workflows, metrics
We know from firsthand experience that a mastermind group of successful, like-minded people is amongst the most important ingredients for lasting success.
Our plan is to make sure that you get the right support, information and inspiration throughout your journey with us.
Whether you're brand new to this business strategy or a fully established seller with a team behind you, AEA has you covered and will show you how you can scale even further!
What's Included in AEA?
Get access to our flagship course programme, available online and consists of training videos to help you scale your established business to 6/7+ figures with predictable systems and processes, automation and a lean team. You watch the videos, complete the action items, use the provided tools and templates. Ask questions in the Fb group or on the live Q&A calls, follow the process, get results.
It's hard to change your life surrounded by the same people. Join a private and very active community of entrepreneurs, collaborate. The OSC mentors are active inside this group to answer any questions raised.
No matter how good the training is, you'll always have questions. Get 24/7 access to experts in our Facebook group, weekly live stream, coaching calls, and private live training events.
For members who have an expert sourcing VA working in their business, we provide the opportunity for the VA's deals to be pooled with other members and in return you significantly increase the number of deals you have access to per weekday. Our criteria is strict to join and places are subject to availability, but we are on hand to help you progress to this level so that you can join the advanced VA Pool group.
Start Scaling Your Amazon FBA Business Today
So here you have it, numerous ways to scale your existing business. So what are you waiting for? Take action, be consistent and reap the rewards of your efforts.
If you’ve got any ideas to add or experiences scaling your FBA businesses, we’d love to hear from you.
Need More Help? Here Are Some Additional Resources
Get Coaching: Want our help growing your eCom business? Apply for our Arbitrage Experts Academy Programme Here.
Free Training: How to start, systemise and scale your online business. Register Here.
Book a FREE Strategy Call: Get 1-2-1 support from the OSC Team to devise a tailor made plan you can follow to achieve scale. Click Here.
Get Expert Virtual Assistants: Want to build your team of transformational VAs and free your time? Learn more here.