#736: Our weekly highlights and recap of powerful business lessons

Silent Sales Machine Radio · November 18, 2023 · 54 min

Summary

This episode offers practical guidance for new and experienced Amazon sellers, emphasizing a low-risk, high-return approach to online retail. It provides actionable strategies for sourcing profitable replenishable products using tools like Keepa, advocates for community engagement, and warns against common pitfalls like dropshipping and private labeling without proper experience. Listeners will gain insights into sustainable Amazon selling and how to build a resilient e-commerce business.

Key takeaways

• Focus on 'replens' (replenishable products) for consistent sales and lower risk, using tools like Keepa to identify test-worthy ASINs by analyzing price history and sales velocity.
• Avoid dropshipping due to inherent problems and a high failure rate; similarly, new sellers should steer clear of private label due to its 95% failure rate and opt for less risky entry points.
• Utilize Keepa filters effectively for sourcing, specifically looking at drops, price, and category to find suitable ASINs for your inventory.
• Build intentional relationships and engage with communities like the My Silent Team Coaching program or Kick Start Boot Camp to combat isolation and gain mentorship.
• Start with recommended categories for new sellers such as home & kitchen, arts & crafts, office products, pet supplies (not food), patio & lawn, and sporting & outdoor goods.

Themes

Topics covered

Episode description

Once per week our Amazon seller leadership team and I love to go live on Zoom with whoever can join us and answer as many ecommerce and Amazon selling related questions as possible. We love to capture the best moments from these Monday night sessions at our free Facebook group for you and turn them into a podcast episode.   Highlights compiled by the team include:   Jim gives an overview of his multiple streams of income! Text the word "free" to 507-800-9040 for Jim's latest book. He also explains what the My Silent Team Coaching program looks like!    Jim - "when you are sourcing in Keepa for replens…" Podcast episode #369 to learn all about Keepa! Jim also elaborates on why our community loves new sellers!   Robin Joy talks about using Keepa filters to look at drops, price and category to help find ASINs Jim talks about how important intentional relationships are in this business as it can feel lonely and at times hard to get motivated. The Kick Start Boot Camp is a great opportunity for new PAC members to get to know other sellers and learn how to launch your business!  Also, gratitude is essential to this process!   Jim explains how there are 2 big problems with drop shipping and why it isn't recommended! Jim mentions that the categories home & kitchen, arts & crafts, office products, pet supplies (not food), patio & lawn, sporting & outdoor goods are good places for new sellers to start with!   Jim reiterates that we are NOT looking for "winning products" but rather test worthy ASINs Jim talks about whether PPC is needed for the Replens model and also issues a warning to new sellers - do not start with private label!! There is a 95% failure rate!   Jim elaborates on the traditional education system and how it teaches, "Just in case" as opposed to the e-commerce opportunities that teach "Just in time!" Jim also mentions one of the chapters in his free book (text

Frequently asked about this episode

What does this episode say about amazon & marketplaces?

Focus on 'replens' (replenishable products) for consistent sales and lower risk, using tools like Keepa to identify test-worthy ASINs by analyzing price history and sales velocity.

What does this episode say about supply chain & operations?

Avoid dropshipping due to inherent problems and a high failure rate; similarly, new sellers should steer clear of private label due to its 95% failure rate and opt for less risky entry points.

What does this episode say about founder & leadership?

Utilize Keepa filters effectively for sourcing, specifically looking at drops, price, and category to find suitable ASINs for your inventory.

What does this episode say about amazon & marketplaces?

Build intentional relationships and engage with communities like the My Silent Team Coaching program or Kick Start Boot Camp to combat isolation and gain mentorship.

What does this episode say about amazon & marketplaces?

Start with recommended categories for new sellers such as home & kitchen, arts & crafts, office products, pet supplies (not food), patio & lawn, and sporting & outdoor goods.

Listen

Listen on Spotify Listen on Apple Podcasts Show website