Can you make money on Amazon even if you don't have any money?
This is a question that my fiancée, Tatiana, and I get a lot from our YouTube subscribers and followers.
Selling on Amazon is a business. Like any business, there are investments that you will need to make to get it up and running.
If money is an issue for you right now, Tatiana and I want to share with you some other great opportunities to make money on Amazon's platform.
If you want to know the untold truth about what it takes to build an Amazon FBA business, keep reading…
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How much money do you need to start an Amazon FBA business?
A lot of people underestimate the costs that are involved with an Amazon business. Tatiana and I want to break down the process for you so that you know exactly how much money you will need. When starting an Amazon business, there are up-front costs.
The biggest cost will be your inventory, which you will order from a manufacturer, in bulk. The number of units that you order will be determined based on your manufacturer's minimum order quantity. The majority of your money will go towards investing in inventory.
Amazon receives your products at their fulfillment center. Amazon has hundreds of fulfillment centers all around the world. You will need to pay the FBA fee and the referral fee for using their centers. Also, you need to consider what the fees will be for marketing your products.
You can't just launch a product on Amazon and hope that you magically generate sales. That's not how it works. Yes, there are ways that you can start your business with less money. This may involve finding a product that doesn't cost a lot of money to source from, placing a smaller inventory order, and/or saving on your marketing expenses.
However, if your goal is to make a lot of money on Amazon, starting with less money will be an uphill battle. In reality, it's only setting you up for disappointment and struggle.
On top of that, less money means a limited number of products to pursue. This means that you will have to settle for products that may not have the best profit margins or demand. In an already competitive market, this is not the best idea.
This is why we recommend that you start an Amazon business with a couple of thousand dollars.
If you don't have that money, we want to help guide you in a better direction. The goal is to be financially secure enough to start an Amazon business the right way. Before you even consider starting any type of business there is one thing that you need to accept and understand – you're going to fail and make mistakes along the way.
This is why Tatiana and I are big believers in investing in an Amazon training program. Learning from others who have been where you want to go will help prevent you from losing money and making unnecessary mistakes. In turn, you will be able to better leverage the power of Amazon and catapult your success.
Another thing to take into account is that building a business is a long-term investment. You won't see results right away. It's not like a 9 to 5 job where you get paid for the 40 hours of work that you put in. If that's what you were expecting, this may not be the business for you.
You can put 1,000 hours into any online business and still not make any money from your efforts whatsoever. It's not about the amount of time or money that you invest in your business. Rather, it's about what you create and the amount of value that you add.
You need to get real with yourself and determine if you're willing to delay gratification and build an asset that will provide for you, long-term.
Now that I've given you the hard truth, let's explore the other avenues on Amazon that you can take advantage of if you aren't financially secure yet.
Publishing books on Amazon is a cheaper alternative to selling physical products.
This is a great business model for getting your feet wet and learning how Amazon works. If you choose to write your own book, the only cost involved is hiring someone to design a book cover. This is something that can be done fairly inexpensively via the platform, Fiverr.
That being said, I would recommend that you hire a book editor and invest some money into the marketing of your book. If you have a couple of hundred books, hire a ghostwriter to write your book for you. This will save you a lot of time and energy. You can find a lot of experienced freelance writers via the platform Upwork.
Although you won't make a lot of money with this business model, you can still expect to make a couple hundred to a couple of thousand dollars per month from an Amazon Book Publishing business.
A second avenue for making money on Amazon is by being an Amazon affiliate. You can start with very little money. This model gives you the opportunity to promote products on Amazon and earn an affiliate commission from that. However, in order to apply for Amazon's affiliate program, Amazon Associates, you will need to have a website.
There are some expenses involved in creating a website, like purchasing a domain name and setting up hosting.
I'll be honest, it can be challenging to make a lot of money as an Amazon affiliate. If you're interested in doing affiliate marketing, there are a lot of other better opportunities that you can explore. I created an affiliate marketing program called Affiliate Marketing Mastery that shows you how you can turn your passions into profits and create a consistent stream of passive income.
Alternatively, if you have experience in a skill like accounting, blog writing, video editing, or graphic design, you could always become a freelancer online. It's easy to promote your services via Upwork or Fiverr.
Companies will pay you for your services on a per-project or per-hour basis. If you have the desire to eventually build an Amazon FBA business, freelancing is a great way to start saving so that you can eventually invest in a business of your own.
If you are serious about building an Amazon business, I encourage you to follow Tatiana's YouTube channel where she shares her best tips and strategies for success with eCommerce.
This is how to make money on Amazon. But first, are you financially ready?
If money is tight right now, your #1 priority is figuring out what you can do to get your finances in order. If you can't do that, building an online business may not be for you. Trust me when I say that figuring out how to build a successful business is a lot harder in comparison to finding some extra work.
When you have a good amount of money to invest in an Amazon business, you will go so much further and faster than you ever would if you budget your way through the process.
At the end of the day, it always comes down to how bad you want success. If you are willing to make the necessary sacrifices and work as if your life depends on it, there is no limit to how far you can go and how much money you can make.
The question now is, how bad do you want it?
Do you want my blueprint for building a $50,000 per month Amazon FBA business? CLICK HERE to get instant access to my FREE Amazon FBA Training!