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The $100 Amazon
Challenge
Paul Cole
• Amazon/Ebay seller since 2006
• Community Director for SellerEngine since 2012
SellerEngine Blog
SellerEngine.com/Blog
Over 200 ar ticles in the past 18
months
SellerEngine
Facebook
SellerEngine.com/Facebook
Great Ideas Come from
You
SellerEngine.com/Group
All of our software
All of our expertise
Everything an Amazon seller needs to succeed
Plus $100 to spend on inventory$
Why $100?
The Winner
“I want to earn more than my husband does each month.
That money will fix our kitchen, and send us on a much ne...
Sue’s $100
Amazon Challenge
Results
$4,600
Cash in Hand
Inventory
75
I nventor y items unsold - Worth nearly $1000
Your $100
Challenge
Who’s the $100
Challenge For?
Everyone!
What You Need to
Get Started
$100 A Spreadsheet A Journal
Spreadsheet
• One line per inventory item
• Cost
• Date of purchase
• Location
• Why you bought it
• Update Fees and Profi...
Journal
• Write a few sentences about what you
did that day.
• What sold?
• What was your scouting trip like?
• What went ...
What You’ll Get out
of the Challenge
Renewed focus and understanding of
your business
Developing good habits
Discovering n...
Focus
•Ask these questions
• Why do you have an Amazon business?
• What do you sell?
• What’s your favorite section of a s...
Building New Habits
• Start small.
• Develop effective methods
of recording, analyzing and understanding data.
• Tracking ...
Look Closely at Costs
• Use your spreadsheet.
• Track all costs.
• Understand where your money is going.
• Apply that leve...
Discover New
Strategies
• Sell in a new category.
• Discover new products.
• Add new stores to your scouting trips.
Diversify
• Growing a business is hard. Focusing on one
thing might be holding you back.
• Expand to new product categorie...
Sue’s Keys to Success
• Don’t settle for inventory that is just good
enough.
• Make rules but know when to break them.
• E...
Learning from
Failure
• What went wrong?
• What would you change?
Your $100
Amazon Challenge
• SellerEngine.com/Group
• Join, tell your story, share your goal!
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The Amazon $100 Challenge by Paul Cole & SellerEngine

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The Amazon $100 Challenge by Paul Cole & SellerEngine

  1. 1. The $100 Amazon Challenge
  2. 2. Paul Cole • Amazon/Ebay seller since 2006 • Community Director for SellerEngine since 2012
  3. 3. SellerEngine Blog SellerEngine.com/Blog Over 200 ar ticles in the past 18 months
  4. 4. SellerEngine Facebook SellerEngine.com/Facebook
  5. 5. Great Ideas Come from You SellerEngine.com/Group
  6. 6. All of our software All of our expertise Everything an Amazon seller needs to succeed Plus $100 to spend on inventory$
  7. 7. Why $100?
  8. 8. The Winner “I want to earn more than my husband does each month. That money will fix our kitchen, and send us on a much needed family vacation.” -Sue Roberts, Maine, USA
  9. 9. Sue’s $100 Amazon Challenge
  10. 10. Results
  11. 11. $4,600 Cash in Hand
  12. 12. Inventory 75 I nventor y items unsold - Worth nearly $1000
  13. 13. Your $100 Challenge
  14. 14. Who’s the $100 Challenge For? Everyone!
  15. 15. What You Need to Get Started $100 A Spreadsheet A Journal
  16. 16. Spreadsheet • One line per inventory item • Cost • Date of purchase • Location • Why you bought it • Update Fees and Profit When the Item Sells • Other Data to Track • Sales Rank • ROI
  17. 17. Journal • Write a few sentences about what you did that day. • What sold? • What was your scouting trip like? • What went well? What didn’t?
  18. 18. What You’ll Get out of the Challenge Renewed focus and understanding of your business Developing good habits Discovering new strategies and opportunities
  19. 19. Focus •Ask these questions • Why do you have an Amazon business? • What do you sell? • What’s your favorite section of a store to source in? What’s your least favorite? • When’s the last time you tried something new? • What’s holding your business back?
  20. 20. Building New Habits • Start small. • Develop effective methods of recording, analyzing and understanding data. • Tracking costs, inventory and profits. • Make smarter, less impulsive decisions.
  21. 21. Look Closely at Costs • Use your spreadsheet. • Track all costs. • Understand where your money is going. • Apply that level of discipline to your entire business.
  22. 22. Discover New Strategies • Sell in a new category. • Discover new products. • Add new stores to your scouting trips.
  23. 23. Diversify • Growing a business is hard. Focusing on one thing might be holding you back. • Expand to new product categories or new lines of products. Try wholesale. • Avoid tunnel vision. Look for opportunities to take risks.
  24. 24. Sue’s Keys to Success • Don’t settle for inventory that is just good enough. • Make rules but know when to break them. • Establish sourcing guidelines to prevent bad decision making. • Remember, you only have $100 to start. • Keep great records!
  25. 25. Learning from Failure • What went wrong? • What would you change?
  26. 26. Your $100 Amazon Challenge • SellerEngine.com/Group • Join, tell your story, share your goal!

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