I’ve been in the office products industry for over 40 years and fortunate to be able to run several large businesses including a wholesale office business with revenues of $100 million a year and a co-founder of an office supply superstore chain that we built from an idea to 65 locations in five years doing $365 million a year. Today I still operate a 7 figure a year online office supply company in addition to my Amazon Consulting Business.
I began to experience Amazon’s impact on the office products industry (and my own business) a couple of years ago and decided I needed to better understand Amazon’s business model. To accomplish this I set up my own Amazon Professional Seller account and began selling a few products I could source at good prices using Amazon’s FBA (Fulfilled By Amazon) platform. I later added a few products on Amazon’s FBM (Fulfilled by Merchant) platform so I could better understand that approach as well.
While our early product listings proved successful far beyond our initial expectations, it became quickly apparent that there was much more to building a long-term successful business on Amazon’s platform. Not only are more competitive products showing up on Amazon every week, but Amazon sellers (competitors) are becoming more proficient in listing and marketing their products on Amazon.
Each step along the way has been a continuing education as Amazon continues to change and morph the selling platforms. Listing parameters are ever-changing, reviews are now harder to come by, ranking for keywords, marketing with PPC, Lightning Deals, Promotions, etc are more competitive.
What for me started out as a competitive investigative and learning experience, has turned into not only a 7 figure annual business for my company, but has positioned us as an Amazon consultants to both Amazon Direct Sellers and other Third Party Sellers.