Mon, 13 June 2016
It makes sense that when your Amazon business is up and running well, you may want to add a totally different brand or niche to your overall business strategy. There are so many opportunities that kind of approach can provide. When heading in that direction it might be tempting to open a second seller account with Amazon. Is it legal (with Amazon)? Should you do it? Scott’s got some very clear ideas about the subject and is eager to share them with you on this episode, so be sure you listen to get some perspective on whether or not it’s time for you to create a second seller account.
Why do you want to open a second Amazon seller account?
Many people who are successful at Amazon private label sales are entrepreneurs, and entrepreneurs are known for having tons of ideas bouncing around in their heads. One of the struggles every entrepreneur faces is keeping their own ambition and eagerness in check so that they don’t get too strung out. It may seem like a great idea to build a new brand but most people take that on far too soon. On this episode you’re going to hear Scott’s thoughts about why you should reconsider that choice and what things you can do instead to maximize your profitability and business.
What are some of the hassles of opening a second Amazon seller account?
When you open a second Amazon seller account you’re not breaking any rules. Amazon will let you do it, but they will want to see certain things in place. For example, you’ll be required to have a different business entity for that account than the one you have on your first account. You’ll also be required to provide different banking information. These are just two things you’ll have to restructure in order to open a second account - and there’s even more besides these. Scott’s going to walk you through every one of the things he can think of that makes it difficult to manage and deal with two brands and two Amazon accounts. It’s all on this episode so make sure you take the time to listen.
Building out a product line instead of starting a brand new brand.
Instead of building a second brand, what would happen if you totally maximized every opportunity you have in your current private label market? In Scott’s experience, most people who are selling on Amazon have not done their due diligence to build out their product line and opportunities to the greatest effect. They’re missing things like sales funnels, email lists, external sales channels, social promotions, and more. Where are you in the stages of building out your current product line? On this episode Scott will show you the kinds of things you need to consider when thinking through whether you should open a new Amazon seller account or not.
Why an external sales channel is the next step for any Amazon business.
Scott strongly believes that every Amazon private label seller should work hard to establish a sales channel outside of Amazon after sales on Amazon have become consistently successful. He subscribes to the idea that you should never put all of your business eggs in one basket - and though Amazon is a very LARGE basket, it’s still only one sales channel. On this episode Scott walks through the main ways that you can build your own sales machine independent of Amazon and tells you why you should focus your efforts there instead of building a second brand on Amazon. It’s a great summary for you to consider, on this episode.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER