I am getting some strange looks today as I tell people I removed all my inventory from Amazon.
I am a firm believer in multiple streams of income, something that my friend and mentor, Jim Cockrum, hits home with in his Facebook group. My first stream was eBay. When eBay came on the scene I always thought they made it just for me. You see, I was buying and selling used and new goods via the in person method. I set up at flea markets and held yard sales. Those of you who do this know how much work is involved! Introduce eBay, where I can now work in the comfort of my own home... Heavenly!
Amazon was on the scene but as books only. I didn't pay it too much attention, but when they opened the doors for third party sellers I jumped into that as well. When they introduced Fulfillment by Amazon, I jumped on board with that as well. These were great times for someone who was in the business of buying and selling stuff!
When Etsy opened it's categories to include vintage items, I jumped into that stream as well.
eCommerce has been a way of life here in the Ackerman household for 19 years now! Have to give my husband credit for not divorcing me long ago as our house became a warehouse, date night included thrift shopping and every road trip had to include sourcing stops.
Another stream of income that came about was in my personna as "The Danni App". I started the Danni App Academy which has evolved into the Niche to Profit Academy. It evolved because the more I learned and grew in the eCommerce business world, the more I realized what it takes to become hugely successful, is to focus. Every channel requires strategy and management. One person can not do it all alone and expect to become a multi-six figure company. The option is to hire team members to help, or eliminate streams in your repertoire which are not producting the Return on Investment (ROI) that you would like. This is the case for me with Amazon.
Over the past couple months I have studied my profit and loss reports for my business and realized where time was being spent that was not resulting in the same profit margins as other areas. It was very clear what I needed to do!
As of this morning, I requested removal of all of my Amazon FBA (Fulfillment by Amazon) merchandise. I picked today as it was the last day of a promotion they were doing which allowed me to bring everything home without charge. (Normally it is .50 per item). In a couple weeks my UPS driver will be secretly cursing under his breath at all the boxes he has to drop off here. I must remember to give him an eBay gift card for his troubles 😉 I will be stocked up on air pillows and smiley face boxes.
What I have learned from my many years selling on Amazon and utilizing the FBA model is how much eCommerce sellers love the ability to source and send.
Through my years of not only using Amazon FBA but also watching the struggles of eBay sellers who love to treasure hunt, find great profitable stuff, and then end up overwhelmed as it piles up, is that I could create a solution for this problem! It has been a year in the making, but this week I will be signing the lease on a 24,000 square foot building! The Time Machine Shopping Experience is becoming a reality! I am getting back to my roots of retail with the new twist of making it fully integrated with eBay AND providing online sellers the opportunity to add a stream of income very similar to how they use Amazon FBA. Now you will have a place to send in your treasures, things which may not fit your own niche, things you would like to have promoted and sold in person and online without having to store!
Are you ready to add a stream of income? Or simplify your eBay selling? Jump over to the TMSE website and get on the mailing list to be one of the first to know when we are accepting shipments.
There is no shame in fine tuning your business so that you can focus on what really makes sense and makes you money!
Now go be profitable and make it fun!