65: Mastering Amazon: Vital Tips From A Top Seller

The side hustle that started with buying books for $1 and selling them at a big markup on eBay, morphed into a $5 million dollar brand on Amazon. This happened through the skill and resilience of today’s guest, Annalisa DeMarta. While there are 2.7 million sellers on Amazon, her company Ridgeline Insights is in the top 0.0005% of Amazon sellers. If anybody understands selling on Amazon, it’s Annalisa. Soak up her insights, tips, and hard-won wisdom. In our interview Annalisa reveals, what it really takes to be a successful seller on Amazon. the sweet spot of how long you should give your product listing a chance what are the most important aspects you need to pay attention to, and so, so much more.   This content was too good not to share again in this rebroadcast episode. What You’ll Hear: 03:10 Buying books for $1, selling them for $5, $10, $25… 05:48 A lightbulb moment: Shifting to a scalable and dependable model 07:39 BIG lesson learned: Minding cash flow 08:29 From just the two of them, to 25 employees 10:05 If we don’t try this, we’ll regret it 11:13 Set yourself up for success by being fiscally conservative in your spending 12:08 A shopping trip provides the seed for a winning business idea 14:00 So many things could have gone wrong - The first shipment of boots from China 15:05 Built Lone Cone to a $5 million brand 16:40 Where to start if you want to import products 19:32 “I’ve literally lost millions of dollars in this business” 20:34 Amazon aggregator picks up Lone Cone 23:30 Ridgeline Insights, an Amazon channel management company 24:47 3 Most common ways to sell on Amazon and pros & cons: arbitrage (a great way to learn Amazon), private labeling/black labeling, contract manufacturing 28:17 Incorrect assumptions people make about selling on Amazon 31:31 Just like MSI’s (multiple sources of income), diversification of assets is smart 32:18 A lowball offer - nothing lost if they say “no” 33:22 What it REALLY takes to be successful selling on Amazon 35:42 A “must do” for your top sellers each quarter 36:20 The sweet spot for long you should give a SKU a chance before you give up 40:42 Fear of failure - get over it because you will fail 41:35 Risk a little, learn a lot 42:33 From side hustle to multi-millionaire…you can too! Key Takeaways: 42:48 Don’t play the “what-if” game 44:13 Work towards the first tier of financial success - having your base expenses covered 45:18 You’re not losing, you’re trading for a future payoff   Joan's Online Masterclass to help you achieve your side hustle goals: Turn Your Thoughts Into Wanted Things   How to connect with Annalisa & Ridgeline Insights: https://www.ridgelineinsights.com/ https://www.linkedin.com/in/annalisad... https://www.tiktok.com/@annalisademarta   Connect with Joan: https://www.instagram.com/joanposivy/ https://www.facebook.com/posivy/ https://www.sidehustlehero.com/about/ Be on the show! https://www.sidehustlehero.com/guests/intake/     46