Day 13: Q+A Part II
When do you lower the price to move product?
Day 30: Sell it at it the lowest price you need to to liquidate it. Amazon wants their sellers to have a lean inventory. Managing your inventory includes pushing through your inventory as quickly as possible.
Have you covered repricer tools?
That is a little outside of the OA Challenge’s scope, though we should make it part of it.
We made a free course called the Repricer challenge that was made by myself and repricer industry experts.
Will investors buy an OA business?
Not usually, because anyone can start a seller account and use the money they would’ve bought your business with buying ASINs.
There are, however, people who will invest in your OA business.
Any concerns about OA Cheddar’s conflict of interest?
No, just because there is a mutually assured destruction with that. If they stole user data to steal ASINs, those businesses would lose their entire customer base.
Is Wholesale a good strategy?
Yeah! It boils down to what you want to do and what modes of arbitrage that you are best at. Any of these can be profitable, but it takes time and effort.
Why don’t you like clearance sourcing?
When you’re doing that at regional stores (Grandpa Joe’s Bait and Tackle) it means nothing and you could buy it without a worry.
However, if it is a nationwide clearance (chains like WalMart or Target), you are gonna see the price tank fast and everywhere. Everyone and their sister can access the clearance aisle at Target.com.
Any way to add variations to a listing?
Yes, though they never make it easy for you. If there is a missing variation, unless I can find it in SC, I’ll skip over it to avoid the hassle.
What do you do when you receive a wrong return?
Take a picture of everything and open a case with amazon.
What indicates that you can sell alongside Amazon Fresh?
If it is selling regularly.
Where can we find storage fees for an item?
Most profit/roi calculators will have that feature.
Can we really not use prime benefits for reselling?
Yes. They will ban you in that case.
Will Amazon become the next eBay? Are other competitors gonna take away our jobs?
Marketplaces are on the rise, but we are not amazon sellers only, we are online merchants.
What are some mistakes that a new seller may be making unknowingly?
Opportunity cost. Let’s say you have 1000 bucks to buy inventory, and you find a good deal so you go all in. However, how much money are you wasting when you run into an even better lead and have no capital left to make the buy?
Should I sell used OA Books as new if bought on Amazon?
A lot of people will say you can only sell as new if it’s been shrink wrapped. How many books at Barnes & Noble have been shrink wrapped?
If it is in new condition and you have a valid invoice, then have at it.
What is the easiest way to find a UPC?
The product details section as well as apps like RevSeller and Keepa
What tells you that an item has been orphaned?
The review count will drop down significantly from the parent ASIN. That is the easiest indicator that I use regularly.
What are your best practices for managing emails?
I use a spreadsheet with color coordination.
What is the difference between Tactical Expander and Tactical Bucket?
TB is used to make bulk lists, TE is used to scan custom storefronts and retailers.
Are the sites on OA Buddy vetted?
Always do your due diligence.
Any affiliate links for the OAC or IP Alert?
Yes, there are. If you are interested, email me or Nate McCallister.
Should I diversify my inventory among other marketplaces?
Amazon is still the king, but opportunity exists in burgeoning marketplaces like Walmart.com and eBay.
Is there a sales threshold before getting a repricer?
Never sacrifice margins for meaningless tools. Do prep yourself until it no longer makes fiscal sense, and then get a prep center.
The same logic goes for repricers. Eventually it will become more affordable to get a repricer.
If capital is not an issue, what is your recommendation for scaling?Automate all of your inefficient manual processes by hiring it out to VAs, Prep Centers, and software. Arbitrage isn’t easy but it is simple.
Your eventual goal is to become a manager of the system you have built, and that is true for any business.
How often do you consult keepa when looking at SellerAmp SAS?
Every single time!
Do you negotiate with Prep Centers?
Yes, but it is a two sided thing. You want to find a deal that benefits both parties. It isn’t a good strategy to throw a list of demands without having something to offer in return. Also, make sure you negotiate from a position of leverage.
How do I start out with the knowledge I got from the OAC?
There is no set path. If I told everyone exactly how they should run their business nobody would make any money because they’d be on the same boat, fishing in the same pond with the same pole.
I would suggest starting out with manual sourcing with keepa.
Is it just better to polybag everything?
Yes. The only thing I wouldn’t polybag are boxed toys. If it goes into someone or onto someone, polybag it.
Can you share your take on what one should do to move up at a prep center?
You should contact your prep center and ask if they have a workaround.
What percentages are you comfortable buying in each category?
I am a fan of using keepa to make individual judgements. If you ant to stay safe, stay in the top 2%.
Do you recommend taking out business loans to grow?
Yeah, but don’t do it out of desperation. You need to have a well managed loan, and desperation is a bad ingredient. It can be a great source of leverage, but it should be an anticipated, well mapped out decision.
Other than the video on the shotgun method, is there a written SOP?
No, but I can do that for you.
Why do shipments go through random centers?
It is an algorithm from amazon to make sure that they optimize their inventory flow.
Which form of sourcing has the higher success rate?
Whatever form you put more time into will show you the higher success rate. A fish can swim faster than a squirrel, but a squirrel can climb a tree faster than a fish.
I got a refund from a sale over a year ago, what should I do?
Photograph everything and open a case with amazon, that is way past the standard refund window, so you aren’t the one who should pay for the damages.
Can you explain why rank drops doesn’t equal sales count?
Because there are way too many variables that can also affect sales rank.
Was it uncoupled?
Did it just add a new child ASIN?
We have no way of knowing!Which form of sourcing has the higher success rate? Whatever form you put more time into will show you the higher success rate. A fish can swim faster than a squirrel, but a squirrel can climb a tree faster than a fish.
Did you ever get into PL?
Yeah, I have done two actually. One tanked, and the other was a home run for about 2 weeks. However, I lost it when Amazon kicked it off for violating TOS.
Some PL sellers use Amazon as a springboard to go public, like Anker. If you get into PL, build for the future, since it has such a unique end goal compared to other Arbitrage modes.
Is it normal for the weight and dimensions to be off kilter in TA?
Yes, unfortunately. You will need to manually verify the dimensions using Keepa.
Can you guarantee that all the lead lists vet their lead links?
Any lead list provider worth their salt will verify.
How do you change your store from a sole proprietor to an OOS LLC without “ruffling Amazon’s feathers”?
Keep them in the loop and inform them of those changes.
Does Keepa Academy have deeper content than what we covered in the OAC?
Yes, but please don’t buy it. The content you got through the OAC should be enough.
Any “must reads” for sellers?
“The Daily Stoic”
“The Calendar of Wisdom”
“Anything by Ryan Holiday”
“The Fish that Ate The Whale”
“Atomic Habits”
“How to Get Rich”
How do you structure your day?
I write a to-do list the night before, but I always make sure that my day includes structured family time. If I work endlessly without enjoying time with my family, what am I really working towards?
Do you send RA to prep centers?
You can!
What do you think about SC’s built in repricer?
Not a fan. They are gonna reprice your inventory in their best interest, not yours.
Will my prep center integrate manually or do I need to do something?
Prep centers will usually handle that for you.
How do you choose sourcing methods?
I really pursue whatever tickles my fancy, but that isn’t the best way, I should really have a system in place, I’d be better off.
When do amazon storage fees begin?
As soon as you click “send”.
How do we charge a restocking fee if we do FBM?There is a process in Amazon’s TOS. I would follow that though I don’t remember it verbatim off the top of my head.
Do we have a free trial for any repricers?
I have one for Aura that I can share with you.
Can sellers personally deliver shipments?
No, unfortunately. As convenient as it would make many of our lives, they won't let you personally deliver inventory to the fulfillment centers or to customer's homes.