What Does it Take to Start an eCommerce Business on Amazon? with Will Basta of Ascend Ecom

10K Collective e-Commerce Podcast

Starting an E-commerce business on Amazon can be a lucrative venture for entrepreneurs. The Amazon platform offers a ready-made audience for online sellers, making it easier to reach a larger customer base than starting a standalone e-commerce website. However, starting an e-commerce business on Amazon requires a lot of planning, education, and capital. This article will outline the key factors required to start an e-commerce business on Amazon. Time Stamps 0:00:00 | "Starting a Profitable Ecommerce Business on Amazon: What You Need to Know" 0:04:07 | "Getting Started with Amazon FBA: What You Need to Know" 0:05:01 | Exploring the Amazon Automation Industry: Vetting the Right Place to Invest Capital 0:06:30 | Heading: Questions to Ask When Partnering with an Amazon FBA Company 0:10:54 | Exploring the Benefits of Amazon Automation for Business Growth and Investment 0:14:29 | "Exploring the Relationship Between Ecommerce and Alternative Investment Opportunities" 0:15:31 | Exploring the Benefits of Licensing for Businesses Selling on Amazon 0:17:55 | "Understanding the Value of Licensing Agreements in Wholesale Businesses" 0:19:07 | Heading: Exploring Unique Investment Opportunities with Ascend Cap Ventures 0:20:55 | Exploring International Markets for Amazon Businesses 0:22:44 | Interview with Will from Ascend Cap Ventures: Exploring Monumental Growth in the National Market Factors Required to Start an E-commerce Business on Amazon Time Starting an e-commerce business on Amazon requires a considerable amount of time investment. One must invest time in research, sourcing products, setting up an Amazon seller account, and creating product listings. It is also essential to spend time analyzing data and adjusting strategies to improve sales. Money Starting an e-commerce business on Amazon also requires a significant financial investment. You need to invest in inventory, product listing fees, and advertising to increase visibility and drive sales. Additionally, you may need to hire experts in areas such as product photography, copywriting, and SEO to optimize product listings. Patience Starting an e-commerce business on Amazon requires patience. It takes time to gain traction and build a loyal customer base. It is essential to be patient and persistent, even when facing setbacks. Acceptance of Failure Starting an e-commerce business on Amazon involves a significant risk of failure. Accepting that failure is possible and that not all products will generate profit is crucial. Being willing to pivot strategies and try new approaches is critical to long-term success. Bringing in the Right Third-Parties One of the most crucial factors in starting an e-commerce business on Amazon is bringing in the right third parties. There are several third parties you may need to work with to run a successful Amazon business. You Need a 3PL Partner for Scalability To scale your e-commerce business, you need a third-party logistics (3PL) partner. A 3PL partner will help you manage your inventory, store, and fulfill orders. However, finding a 3PL partner that does not cut into your profit margin is challenging. You can start by prepping your products out of your garage or having your suppliers pre-prep them for Amazon, but that takes a lot of work. Education To start an e-commerce business on Amazon, you need to educate yourself. There are plenty of resources available, including books, blogs, and courses. You should take advantage of these resources and learn about different sourcing strategies, scaling techniques, and how to optimize your Amazon business. Scaling Requires More than One Person Scaling an e-commerce business on Amazon requires more than one person. You need a team of experts to handle different aspects of your business, including product sourcing, marketing, inventory management, and logistics.