E-commerce is the new California Gold Rush. If you think back to those wild west times, you might recall that groups of people flocked to California in the hopes of finding rivers of gold… but only a few were successful. Some didn’t even make it to the Golden State. Selling on Amazon is like that. You either make millions or you flop. But just like the Gold Rush and traveling the Oregon Trail, there is strength in numbers.
With people flooding the Amazon sales space, one networking group stands out above the noise: Titan Network, co-founded by Athena Severi, guides its members on viable strategies and plans to turn side hustles into mountains of gold.
We got together with Severi herself to learn some introductory tips for Amazon sellers looking to make the big bucks.
Set Your KPIs Right off the Bat
KPIs, or key performance indicators, are the number one thing you need to think about when running a business with as many ins and outs as selling on Amazon.
“If you don’t have internal KPIs, how will you measure your success?” Severi said. “You have to know where your overspending is, where your great sales are, which products are doing well and which are not, so you know what to tweak in your business structure.”
The Titan Network uses what’s called the ‘Titan Hurdle’ as well as digest and accountability programs for members to use to track their progress and metrics.
In a similar vein, it is crucial that Amazon sellers define their goals and objectives early on.
“Create long- and short-term goals for your personal life and your business,” said Severi. “While you are running a business, you also need to ensure that your personal life aligns with your business goals. You need to be able to see the whole picture before you can adjust your individual brush strokes.”
Titan Network encourages its members to follow a well-structured, detail-oriented goal and objectives strategy.
Do Your Due Diligence
If you don’t test your products before you sell them, you might be surprised to learn from your customers that — oops — your huge inventory is a pile of rocks, rather than a pile of gold.
“There are a lot of moving parts in Amazon sales, so you have to control what you can and leave the rest to fate,” Severi told us. “You can control your inventory, ensure it’s of high quality and value, and test it frequently to make sure that quality hasn’t diminished.”
Not sure how to run these tests? Imagine you were buying the item: What would you want in the product? Longevity? Durability? Think about how you would look at this product were you to purchase it and review it. If all else fails, Titan Network offers exclusive tools and services for its members to aid in product testing.
Keep Hunting for Leads
Some people are more adept at sales than others, but that doesn’t mean they should forego sales altogether. Lead generation is crucial for your Amazon seller business to function and thrive.
“Constantly gaining new customers from solid lead generation is key to keeping your sales door revolving,” said Severi. “You cannot make it to the top 1% of sellers if you only dominate one area. You must diversify and attract new customers on a consistent basis. This isn’t a restaurant. People likely won’t need to buy your product every day, as some products are consumables,” she added.
Titan Network calls this tactic ‘investing in your upper funnel.’
In closing, make sure you stay on your toes, be aware of and monitor the KPIs you set, create clear goals to strive towards, do your due diligence, and keep bringing in new faces.
So, are you ready for the Gold Rush? At least on this journey, you have a much higher chance of surviving! The question is, will you thrive?
About Athena Severi
Athena Severi is an internationally acclaimed speaker and high-level community builder, and has become known for helping fellow Amazon entrepreneurs achieve lifestyle freedom. She is the Co-Founder of China Magic, a bi-annual 12-day sourcing and networking trip to China; and Co-Founder of Titan Network, an exclusive invite-only membership network for Amazon sellers. For more information on Athena and Titan Network, visit https://www.titannetwork.com