Mon, 19 December 2016
There are lots of ways to start selling products on Amazon. But there are some approaches that restrict you more than others in terms of the categories you are able to sell within and the variety of products you can offer. On this episode, Scott talks with his friend Dom Sugar about what it means to build an open brand, why it is a faster way to find and launch products, and how you can approach this style of selling, on this episode.
Are you married to your product brand? What would happen if you weren’t?
The idea of selling products under an “open brand” is foreign to a lot of sellers who are trying to build a brand in a certain niche. An open brand enables you to sell products in all sorts of niches, testing as you go, learning what products are popular and which are not. This approach enables you to get products started faster and cull the ones that aren’t working while still building a business. You can even have multiple niched brands within your open brand. If it doesn’t make sense to you now, that’s OK. Listen to this episode to hear Scott and his friend Dom Sugar explain what the open brand strategy is.
How retail arbitrage can connect to an open brand sales model.
Dom Sugar has been selling products online for years. Most recently he’s been selling private label products and is doing so very successfully. But he’s not exclusively selling private label products, he still sells products under a retail arbitrage model through his open brand. He finds the opportunities, puts them on Amazon to see what will happen, and lets them sell at whatever rate they will. It’s a way that he has low-volume sales going on all the time to support his other business endeavors. It’s a great model that you can learn more about on this episode.
An open brand enables you to build brands within your brand.
As Scott and Dom talked about the concept of building an open brand on this episode, it became clear that it’s possible to build a handful of individual brands within a larger “open” brand. The open brand may be the name on the seller account - “ABC Products” for example. Then underneath that main brand may be a home brand, a pet brand, a sporting goods brand, and more. It enables you to try all kinds of products in any niche, regardless of whether you’re already doing that type of product or not. Find out how to make it happen in your business, on this episode.
The power of an open brand is that you’re able to test for beneficial, larger brand possibilities.
When you keep your brand broad and open you are able to try a variety of products without having to remain within a certain niche. When you find one that begins to sell at a rapid pace then you have the opportunity to think through the possibility of selling related products and actually building a brand from it. This is one of the tips that Dom Sugar shares with Scott on this episode. Dom’s been selling products online for years and has lots of perspective on how you can go about finding and selling products profitably.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
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