Thread by @mywifequit

MEGATHREAD:

9 Ways To Make Money With Amazon

Take one, roll with it and you could be making five figures a month by the end of 2021:

I’ll rate the thread from 1-10 depending on the

1) Startup cost
2) Difficulty to start
Revenue velocity

1) Mechanical Turk

Amazon Mechanical Turk is a crowdsourcing marketplace for small virtual tasks

Examples you’ll find out the platform:

-Take a survey
-Give your opinion on a website
-Google search and provide a result

Ratings:

-Startup cost (10/10) - Costs nothing to start
-Difficulty to start (10/10) - You can take jobs right away
-Revenue Velocity (1/10) - Capped at a low income

Mechanical Turk is easy to start but capped at $8-$9 an hour.

2) Associates Affiliate Program

An easy way of making money online is affiliating with Amazon

How it works:

Sign up for the associate’s program
Amazon give you an affiliate link for the products you want to promote
You make a commission for every purchase made with your link

Ratings:

-Startup costs (10/10) - Costs nothing to start
-Difficulty To Start (10/10) - You can start promoting within minutes
-Revenue Velocity (2/10) - Commission is only 4%

You’ll need a lot of traffic to be able to succeed at Amazon associates.

3) Merch By Amazon

You can sell branded products design by you

Amazon ship, sell and ship the item for you

The best part is Amazon place it on their marketplace that of billions of people a day

Ratings:

-Startup cost (8/10) - Once you’re accepted, you can start designing right away
-Difficulty to start (3/10) - Low margins depending on what you charge
-Revenue Velocity (10/10) - Costs nothing to start

Expect around $10 with every shirt sold.

4) Amazon Kindle Publishing (KDP)

KDP allows you to publish and sell your own books with Amazon

You need to:

-Write the book
-Find a cover design
-Format the book to Amazons guidelines

Once you publish, your book will be on the Amazon marketplace.

-Startup costs (9/10) - $0 to start
-Difficulty To Start (7/10) - You have to format the book to Amazons needs
-Revenue Velocity (4/10) - You can keep up to 70% of the revenue, but a good book takes time to write

KDP is a great opportunity to publish books without a publisher.

5) Dropshipping with Amazon

How it works:

Make a sale on Amazon with your product
Notify your supplier to ship your product
You pocket the difference between the wholesale and selling price

Dropshipping is a low-cost way & you don't have to worry about inventory

Ratings:

-Startup cost (9/10) - Costs little money with no inventory
-Difficulty to start (7/10) - Finding a reliable wholesaler is the hard
-Revenue Velocity (4/10) - Margins are low (10%-30%)

Dropshipping is a great starter for people who want a low-cost alternative.

6) Amazon Retail & Online Arbitrage

How it works:

-Buy a product from a retail or online store at a clearance section
-You list the item on Amazon FBA at a higher price
-When your product sells, you keep the profit

This is a great way to make quick cash.

Ratings:

-Startup cost (8/10) - Costs what you’re willing to spend on inventory
-Difficulty to start (7/10) - Finding a great deal on Amazon is hard
-Revenue Velocity (4/10) - Revenue depends on how long you shop for items

This is a low-risk way to sell physical products online

7) Amazon Handmade

Handmade lets you sell:

Clothing
Jewellery
Soap
Home goods

Amazon gives you the storefront with your own site to sell your items.

Ratings:

-Startup cost (8/10) - Varies on the cost of making your goods
-Difficulty to start (7/10) - Selling goods on Amazon is easy
-Revenue Velocity (4/10) - Capped at how quick you can make your goods

Amazon Handmade lets you sell your own handmade products.

8) Selling Wholesale On Amazon

How it works:

- Purchase products in bulk made by other companies

Example:

You want to sell lego on Amazon

So you reach out to Lego distributors and ask to buy at wholesale prices.

You then sell these products on Amazon FBA at a profit

Ratings:

Startup cost (5/10) - You need to bulk purchase to make a profit on FBA
Difficulty to start (5/10) - Finding good suppliers is hard
Revenue Velocity (6/10) - Your revenue grows when you spend more on bulk items

It’s a saturated market with people selling the same items

9) Selling Private Label

Private label is the best way to make money on Amazon but requires the highest upfront cost.

How it works:
-You place your own brand on a product
-You have control of everything with the brand
-Factories will package your products

Margins are above 66%

Ratings:

-Startup cost (3/10) - Expect to spend $2k-$3k to launch your product
-Difficulty to start (4/10) - Can take months to create your product and find factories
-Revenue Velocity (10/10) - Your profit margins are high and you own the brand

Thanks for reading!

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