How to Start an Amazon FBA Business and Sell it for 1 Million Dollars (Interview with Nate Ginsburg)

Our guest on the 17th of February, 2020,  on the sellerboard show was Nate Ginsburg from SellerPlex. We talked about his experience and how he started business on Amazon FBA:

  • his process on picking the right product,
  • scaling the business,
  • hiring the right team,
  • getting your processes & keeping finances under control – how you can replicate his success in 2020.

Nate also shared with us how he got into 4 different businesses at the moment and how they are developing after his exit from Amazon FBA.

Watch the full video here: https://www.youtube.com/watch?v=btYh28VDevE  Continue reading “How to Start an Amazon FBA Business and Sell it for 1 Million Dollars (Interview with Nate Ginsburg)”

Advice for beginners from Tamara Tee

Dear friends, we continue to share interesting life hacks from guests of the sellerboard show on how to succeed on amazon. Today some advice for beginners from Tamara Tee (http://y2u.be/0TL_HFBWusg)

To start a business on Amazon, Tamara recommends:

  •  to choose products with a BSR under 50000;
  • if you’re a beginner and you’re on your first, second or even third product, Tamara doesn’t recommend selling anything that goes in your mouth or skin, for instance: skin lotion, supplements, anything that you eat, because there’s a lot of regulations on these products and Amazon’s really strict with them;
  • launching your product with PPC at full-price purchase, without discounts, helps to rank it a lot more effectively;
  • drive external traffic, i.e. Facebook Ads using chatbots like ManyChat to send a coupon code with 50-60% OFF;
  • turn on automatic PPC to launch your product more aggressively;

sellerboard is an accurate profit analytics service with additional tools: follow-up mail campaigns, inventory management, reimbursements for lost & damaged stock and other FBA errors, PPC optimizer, listing change alerts.

Get 1 month of free access to sellerboard using this link: https://goo.gl/NQMwL9

 

What’s New in Amazon Advertising + What to Expect in 2020 (Interview with Brent Zahradnik)

Our guest on the 27th of January, 2020,  on the sellerboard show was Brent Zahradnik from AMZPathfinder. We talked about PPC optimization, product and category targeting, sponsored brands as well as what’s new in amazon advertising and what to expect in 2020.

Watch the full video here: https://www.youtube.com/watch?v=GxeT32SdMdw Continue reading “What’s New in Amazon Advertising + What to Expect in 2020 (Interview with Brent Zahradnik)”

How to Find the Right Private Label Product to Sell on Amazon FBA (Interview with Tomer Rabinovich)

Our guest on the 20th of January, 2020,  on the sellerboard show was Tomer Rabinovich, a successful Private Label seller, speaker and coach.

Tomer shared his perspective on picking the right product for amazon FBA.

Watch the full video here: https://www.youtube.com/watch?v=NILVsPzE1Rk&t=14s Continue reading “How to Find the Right Private Label Product to Sell on Amazon FBA (Interview with Tomer Rabinovich)”

4 Ways to Cut Out Unnecessary Fees for your Cross-Border Amazon Business

When you enter a new region, you get new opportunities to make more sales – but you also have to overcome new challenges. These can include paying sales taxes in other countries, offering local customer service, handling fulfillment and logistics, maintaining your supply chain, and dealing with payments in different currencies. 

We’re here to explore just one of these issues — cross-border payments. If you feel stressed just thinking about foreign currency exchange, don’t worry. With the right online payments solutions, your cross-border payments can be made simple and hassle-free. Here are 4 ways to reduce fees and simplify payments in your cross-border Amazon business.

1. Use local bank accounts to withdraw your funds

You can avoid paying high foreign exchange rates to convert your cross-border sales into your home currency by withdrawing funds into a local bank account of the country you’re selling in. The only trouble is that it can be extremely complicated to open up a business bank account in a country where you aren’t a resident. In fact, sometimes it’s just not possible for online sellers.  

That’s where Payoneer’s receiving accounts come in. These allow you to open up a local receiving account in multiple different currencies, including EUR, GBP, USD, CAD, JPY, AUD, and MXN. It functions exactly like a local bank account, so you can accept payment in multiple currencies directly to your Payoneer account, without paying high foreign exchange fees or opening a local bank account. 

2. Pay VAT without paying commission

When you sell on any European Amazon marketplace, like Amazon.co.uk, Amazon.fr, or Amazon.de, you’re https://services.amazon.com/global-selling/global-selling-guide.html – obligated to pay VAT, which is European sales tax, to the tax authorities. But when you pay VAT in a foreign currency, you’ll also have to pay commission on the currency conversion, transaction fees for paying in a different currency, and probably lose money through high exchange rates. 

That’s why it’s better to use a local bank account or your Payoneer account to pay your VAT obligations without paying commission. Payoneer can hold your revenue in local currency until it’s time to pay VAT, or save you money by converting it into local currency without commission and at competitive rates. 

3. Pay suppliers and providers commission-free

Your cross-border Amazon business doesn’t run in a vacuum. You have suppliers in different countries, dropshipping providers, and service providers who help you design your store, manage your product listings, or handle local customer service. They all want to be paid but you don’t want to have to pay commission. 

Turn to Payoneer’s Make a Payment service to pay everybody with zero commission. As long as your service providers and suppliers also have a Payoneer account, they can easily request payment in their currency, and you can enable the payment from your account without paying SWIFT bank transfer fees or foreign exchange costs. If your service providers and suppliers don’t use Payoneer, that’s not a problem at all – you can pay them via bank transfer for a small transaction fee, directly from your Payoneer account.

4.  Use a payment platform with an inbuilt FX feature

It’s ideal to use a cross-border payment platform that doesn’t only support multiple currencies, but that has foreign exchange capabilities built into it. After all, the whole point is to support cross-currency transactions. Payoneer offers foreign currency exchange for as little as 0.5%, which makes it easy for sellers to change available funds as needed to pay their suppliers, VAT obligations, local accountants, and any other cross-border costs. 

Payoneer cuts the fear of cross-border fees

There is no need to let fear of extra fees hold you back from expanding your Amazon business into other countries and regions. Payoneer has the solutions to save you from unnecessary fees, and help you keep more of your profit to grow your business. 

Don’t have Payoneer account yet? Sign up now and get $50 bonus after receiving over $1000 in total from Amazon!

Suspension Reasons and How to Get Reinstated (Interview with Chris McCabe)

Our guest on the 6th of January, 2020,  on the sellerboard show was Chris  McCabe, a former Amazon employee and founder of eCommerceChris.com

We talked about the most common suspension reasons, how to avoid suspensions and what to do if one of your listings or your account got suspended.

Watch the full video here: https://www.youtube.com/watch?v=WEKetuCrAcY&t=499s Continue reading “Suspension Reasons and How to Get Reinstated (Interview with Chris McCabe)”