How To Start Selling On Amazon FBA During COVID-19

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Amazon FBA is stronger than ever, despite COVID-19.

Before the Coronavirus hit, Amazon was already a powerful eCommerce giant. The onset of the global health crisis forced 250,000 US stores to close, which cleared the way to Amazon’s dominance. Inside this interview, I pick Stephen's brain about the current state of the Amazon marketplace and how the opportunity to sell on Amazon has changed, with the onset of COVID-19.

We also talk about his amazing course, Marketplace Superheroes, and his free upcoming webinar training which will help you learn more about Stephen's method which has helped thousands of people get started selling on Amazon. Let's dive in!

What has been happening in the world of Amazon since COVID-19?

Amazon has grown 50% during COVID-19. They've added 100,000 new warehouse staff alone into their business, and they're looking to add even more people. As a marketplace, Amazon is growing rapidly. We currently have 6,000 members in our program. Obviously certain products are selling better than others. However, we have seen a 30-50% increase with our more established businesses. This is crazy when you consider that they are already established.

We are seeing so many new niches opening up within Amazon.

There are new types of customers joining the platform, especially since a lot of retail stores are now closed due to the pandemic. In the long-term, people won't forget that Amazon was there for them when they were quarantined and needed products sent to them quickly. Sales are growing like crazy and the forecast shows that Amazon will continue to grow. It's a great time to be selling on Amazon.

What do you see happening with Amazon, moving forward, given the fact that we are in a global recession? 

I've been selling on Amazon for ten years now. During that time, I've seen a lot of changes happen. A lot of the niches that our members are selling in are everyday products. They are not high-end things. Doing things at home products have risen massively in popularity since quarantine. Naturally, these products will dwindle as more people are allowed to go outside, but only to a degree.

I think that the retail world as a whole has changed forever. Yes, there are people losing jobs. However, we have to be aware that many of the jobs that have been lost will come back. A recession is a slowdown in economic activity. Even though we are moving into a recession, I think that people will still want to buy things online.

You have to have a positive mentality towards everything that is happening in the world.

If you believe that businesses are doomed to fail and never bounce back, you won't feel optimistic about the future, nor will you want to start an Amazon business. We are being presented with the opportunity to challenge and change our beliefs. During this time, online retail is booming and it will continue to do so. Look at where the gold is coming from and lie down in front of it.

Amazon is where the money is now so it makes sense to explore it as a business model.

What is your mindset when it comes to competition and saturation on Amazon?

I talk a lot about mindset with my Amazon sellers. When someone says that Amazon is saturated, they are saying that every product sold on Amazon is in such great supply that there is not enough demand to meet the supply that is already there. Therefore, it's saturated.

The trouble is that people come into any business and immediately look for the short-cut. They look on YouTube and find sellers with successful products and they sell the same thing. There are millions of different products that you can sell on Amazon. The problem is that people don't want to learn what to sell. Instead, they just want people to tell them what to sell. The product research process takes time.

In their book, The Go-Giver: A Little Story About a Powerful Business Idea, Bob Burg and John David Mann say that most people grab onto any opportunity that comes their way. In their eyes, if you want to be successful in business, you need to stop being a go-getter and start being a go-giver.

A lot of people in this world say, “Give me the result and then I'll give you something.”

Our 6,000 students who have been successful had to go through the process of learning how to find low competition products on Amazon. Once you master the product research process, you will find a lot of opportunities. This can only take a few weeks. However, in order to do this, you need a solid system for finding products.

One of the richest men in the world, Charlie Munger, once said, “To get what you want, you need to deserve what you want.” Ask yourself, “Do I have a process in place for product research, do I understand the Amazon platform really well, and do I know how to calculate profitability?” If your answer to all of these questions is no, that's okay. However, you've got to be real with yourself and become a learner.

What would be the recommended starting cost in terms of selling on Amazon?

Your first product(s) will cost around $1,000-3,000 in inventory. However, $5,000 is a great start-up cost to get into the game. Don't freak out about this number because those costs don't happen all at once. Rather, they happen in stages. This is where mindset comes into play. Amazon is a real business. You cannot be uncomfortable with the idea of investing money in your business. Actually, it's necessary to be successful on Amazon.

I've seen people gain some real confidence with their first few products.

Over time, they put more money into their business because they see massive results. I recommend taking your products that are working well and getting those products funded by a bank. When you can prove that you've been able to double your original investment, a lending institution will fund you. If a bank charges you 10%, you're still making 90% profit.

Do you mind sharing what is unique about what you teach in your course, Marketplace Superheroes, and what people will learn on your upcoming webinar? 

Our approach is called The Marketplace Approach. We look at Amazon as a stock market, meaning that there are a lot of different products. We look for low competition products. Also, we look for opportunities to improve an offer so that we can sell it in multiple different countries.

At a base level, that's what we are doing. There is a process for doing this, which I will talk about more in our upcoming training. What makes us different from others is the types of products that we look for. We don't want to get involved with competitive products. The reason for this is because you have to invest a lot of money into these, build a brand, and be a really good marketer.

There is nothing wrong with taking this road.

However, I would rather have fifty different products making 5-10 sales per day of each product in different countries. If one of your products stops selling as well as it used to, it won't hurt you as much because you will have multiple products. Our members are looking for a simple business model that they can put some money into, run some Amazon PPC ads and sell products in multiple countries.

We are going to be doing something special for your audience, Stefan. We have a freight company called, Superhero Freight. Thanks to people like you who have brought a lot of people to our course, we took some of the money that we've made from our course and put it into building a real freight business.

We have warehouses in Houston, Texas; Northern Ireland; and Brisbane, Australia. Anyone that takes part in the webinar will get access to our freight network. We don't give this to anyone else apart from our members. When you use our warehouse, you will pay less in storage fees than you would with Amazon.

This is how to start selling on Amazon FBA during COVID-19.

Don't miss out on the amazing opportunity to learn from Stephen about his unique strategy for finding incredible, high profit, low-competition products. If you join the free webinar and show up, he will have a ton of cool prizes for you. Eighty percent of success is showing up, so if you're serious about starting an Amazon business, make this commitment to yourself.

Are you ready to create a global Amazon mini-empire?