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Can Amazon FBA Make You Rich?

Amazon Business Call

Amazon FBA is touted as this amazing business opportunity. But aren’t the only ones getting rich off it the guys and gals selling courses? Or those who got in early? Like years ago? Because, today, there’s something like four thousand people a day signing up to sell on Amazon. I realize there are almost endless products you can sell, but still. Seems like you’d have better odds of making the NBA than you would becoming a seven figure FBA seller.

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Yet you’re peppered with ads that say otherwise. “Get rich with very little effort,” shouts the latest guru. “Just buy my seven thousand dollar coaching package and it’s almost a sure thing.” Wrong. The first myth about Amazon FBA is that the majority who do it are gonna be successful. As if Amazon being an awesome company and more and more people buying stuff online somehow insulates you from failing. It does not. Most FBA sellers will lose money, plain and simple. Same as any other side hustle.

Myth number two is, “Okay, I hear ya, but if I get the right mentor and use the right software, how can I lose?” But if that logic held up, everyone who ever enrolled in an FBA course and signed up for Jungle Scout would be a millionaire. And we know that’s not the case. Sure, both of those things can shorten the learning curve, help you make better decisions, and avoid costly mistakes, but neither a mentor nor a slick software’s gonna do the dirty work for ya.

Which brings me to myth number three about getting rich with Amazon FBA. “Yeah but, there’s that Tony Robbins quote about how success leaves clues, so I just gotta find someone who’s killing it with FBA, copy them, and I’ll definitely make money, right?” Maybe for a little bit, but think about it, it’s gonna be short-lived. Because, remember, there’s roughly four thousand new people hopping on Amazon FBA every day, thinking they, too, are just gonna “model what works.” But when there’s a kajillion sellers selling the same dog leash the same way, nobody gets anywhere, do they?

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Myth number four is that, even if you get past all that and you’re one of the select few who beats the odds, you can launch and scale your Amazon store with an itty-bitty budget. False. Any successful seller (who’s speaking candidly) will tell you, the more money you have, the better. Because you gotta order product samples and bulk orders and labels and pay to ship it all to an Amazon warehouse, right? Then you’ll need professional photography, maybe a copywriter, marketing, ad spend, more inventory, repeat.

Anyone who’s gotten rich with Amazon FBA has also spent a small fortune to get to that point. And chances are, they were in the negative for months or even a year or more, before they saw steady profits. And then from there, sure, once you’ve got everything firing on all cylinders, you can scale aggressively and watch your net profit soar. But who has ten, twenty, fifty, a hundred thousand dollars to risk on an Amazon FBA business that, statistically speaking, will probably crash and burn? Not very many people.

Last but not least, myth number five, is that Amazon gives a flying you-know-what about you. Like if you’re making a hundred and fifty K a month selling skin cream, Jeff Bezos and company are gonna be super grateful to have you on board. Nothing’ll ever go wrong. And if it did, like say they flagged your account for suspicious reviews, surely they’d reach out to you before shutting your entire store down and banning you for life, right? Bahahaha. That’s cute.

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Katie Smith: Slip into your give-up pants, crack open a White Claw, and plop yourself down on the couch. We need to talk about the absolute dumpster fire that is the online course and coaching industry.