“How To Source Your Private Label Product In China, Without Getting Screwed By Alibaba Suppliers.”
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Safer and Faster Sourcing when starting your Amazon FBA Business
Starting your own Amazon FBA Business, and sourcing your own products safely and quickly opens up a whole world of opportunity.
It gives you freedom, great earning potential and the chance to forge your own destiny. That’s exactly why so many people are doing it.
Let’s get serious though. Sourcing a good product is hard. More, it’s even harder when you’ve never done it before.
Thankfully, you’re not the first person to do it.
Since moving to China in 2013, I’ve sourced and sold over 1,000 products on Amazon. During the process, I’ve learned a lot the hard way.
That’s why today, I’m revealing my expert tips on how to source your products safer and faster when starting your Amazon FBA Business.
1. Commit to Starting your Business
This might seem obvious, but you need to commit to starting your business.
Yes, you may have already bought some expert courses, but to truly start you need to source a product.
That’s why if you truly want to successfully import products from China, you need to commit to starting your Private Label Business today.
Now, don’t get me wrong. I know you’re a busy person. You may already be working full time, have commitments to spend time with your spouse or children, and even have pets to look after. But until you start actually sourcing products, your Amazon FBA Business is going to remain a dream
So you need to find time to source your product.
While you may need to make some compromises, your efforts now will pay off in the future.
2. Start Small
Whenever you start something new, you can’t go in big straight away.
Think about it. If you haven’t ever run in your life, would you run a marathon tomorrow? Of course not.
The same applies to your Amazon FBA Business.
When starting out, start out small and make sure you keep your expectations in check.
Begin with a couple of hundred units of a product, maybe sourced from a Trading Agency instead of a Manufacturer.
Accept that you won’t get the best prices first time and that you have to spend money to learn how to effectively source goods from China.
Once you’ve successfully sourced one product, you’ll be more confident and in a better position to source your next one.
By starting small, you need less money to get your business off the ground, and it takes less time to get it started. It means that you can start quickly and safely, in a relatively short period of time.
3. Lose your Fear of Losing your Money
Now this one’s difficult. None of us want to lose our money.
We’re taught to save and protect our earnings. However, if you want your Private Label Business to succeed, you need to lose your fear of losing your money
The easiest way to do this is to remember that while you will be spending money sourcing products from China, it is not the same as playing the stock market.
As long as you follow the right advice, it’s unlikely that you will lose all of your money.
The products that you are importing from China to sell on Amazon may not initially return a profit. However, more often than not, they will allow you to get some of your initial investment back.
Think about your first payment as an investment. You would normally pay to learn something. By spending money on products and beginning the sourcing process, you are investing in you Private Label Business education.
Just make sure that you do not invest more than you can afford.
Finally, always make sure your expectations are realistic.
Despite what others may tell you, when you start your Amazon FBA Business, it’s very unlikely that you will make six figures in your first month.
Making any profit from your first venture is a success and something that you can grow in the future.
4. Follow the Right Sourcing Steps
I’ve worked with a lot of Amazon Sellers, and I’ve seen this mistake so many times.
When Amazon FBA Businesses start sourcing products, a lot of people fail to follow the right sourcing steps.
In practice, this means anything from speaking to just three suppliers, getting quotes from them, seeking samples and then repeating when initial inquiries fail.
If you do not take a considered, professional approach to your supplier research, you are wasting your time
Instead make sure you follow these four steps, guaranteed to help you get the best product suppliers
- Get as many quotations as possible from a wide range of suppliers. Five won’t cut it. You need to get at least twenty, ideally fifty.
- Order as many simple, non-customised samples as possible from suitable suppliers. By suitable suppliers, I mean from a wide range of price points. This will enable you to assess the quality of each product, which does not always correlate with the price.
- Make a shortlist of suitable suppliers referencing product cost and quality.
- Order customised samples from your shortlisted suppliers, and pick a suitable supplier. During this process you should negotiate on price, ideally with the help of a Sourcing Agent.
If you follow these steps you are less likely to waste your time and more likely to find products that are the right quality for you and your customers, at a price that works.
5. Seriously, get a Sourcing Agent
I know, Sourcing Agents cost money. It’s an expense that can seem unnecessary.
However, Sourcing Agents will save you money
I’ve found that normally, Sourcing Agents take a commission of around 5% after successfully sourcing your product. However, they save you anything from 15 to 30% off the best price you would be able to negotiate with a supplier
It makes so much sense to get the help of a Sourcing Agent when you are setting up your first Amazon FBA Business.
They save you time when you are searching for the right supplier. If you’re just starting out you may not know this yet, but it can take anything from 20 to 40 hours, to find the right supplier. A Sourcing Agent can do this for you in just one.
This means that using a Sourcing Agent can help you manage starting your Amazon FBA Business around your current existing commitments.
Also, as locals working on commission they will make the whole sourcing process a lot more secure, because they are working for you. It greatly reduces your risk of getting screwed over by suppliers.
Top Tip: Sourcing Agents can even bundle your samples, saving you even more money!
6. Stay Up To Date
You can never have enough advice when starting your Amazon FBA Business.
The world of Amazon FBA Selling changes rapidly, and there are specific techniques that need to be adapted to help Private Label Business owners keep their sourcing habits competitive.
Stay up to date with the latest techniques and trends by subscribing to Easy Peasy Ecom, and make yourself into a better Amazon FBA Seller today.
Like all types of learning, realising sourcing success never stops.
Don’t waste any more time, start sourcing for your Amazon FBA Business today! You may have a great idea for a product, but unless you start sourcing it now, there’s a possibility someone else will launch it before you
Have you already started your own Amazon FBA Business and successfully sourced your own products from China?
If so what did you find most challenging when you were sourcing your first product
Share the knowledge and let us know in the comment section below!