Business is tough.
Some weeks there’s progress, others you fall behind.
Amazon FBA can be a roller coaster of ups and downs, and the whiplash can leave you thinking, “what the hell have I gotten myself into?”
I’ve seen it all in my six years selling on Amazon. From products stuck at U.S. customs, to waves of one-star reviews after listing a poorly-manufactured fidget spinner. It’s safe to say I’ve had my share of mental strife.
So here’s a list of 7 mental struggles you might encounter while selling on Amazon, and how to overcome them.
Analysis Paralysis
Whether it’s spending months on the same YouTube channels, obsessing over selling a passion-based product, re-investing in a new product, or stalling on creating your LLC, there’s a lot to over-think in this business.
Don’t get me wrong, I often speak about the importance of moving fast but with caution on Amazon, but hyper-analyzing every step, or over-consuming content leads to more harm than good.
Here’s a couple of pointers to avoid it.
- Create deadlines, and stick to them just as you would at a regular job . This is a business, afterall.
- Narrow down options early. If you’re stuck in product research, for example, know there’s certain criteria that will help identify product investments with minimal risks.
- Use a framework, mentorship, or hire help based on experience to ease the decision making.
- As you progress, celebrate wins and milestones. It’s a form of positive self-reinforcement, and I find congratulating yourself on a job well done makes decision-making easier later on.
Channeling Your Focus
In the 1998 blockbuster comedy The Waterboy, Adam Sander’s character Bobby Boucher, Jr., is able to wipe the field with opponents by channeling past trauma and using it for “tackling fuel”
I’ve always felt inspired by Bobby.
Not because I envy his violent outbursts, but his ability to channel his miseries to better himself and overcome obstacles has always stuck with him.
Bobby was outraged by a life of being bullied, and parental neglect from his abandoned father and overprotective mama.
For me, I hated the idea of working multiple jobs just to afford a meal out. Or working 60 hours a week and still only able to put pennies in savings.
I despised the thought of someone else controlling my time, telling me what to do, and when to do it.
Wake up, go to work, come home, go to sleep, rinse, wash, repeat.
No, thanks.
So when I feel mentally drained by the business, or find myself in the midst of a massive screw-up, I shift my focus away from financial gain, and concentrate on the reasons I started a business in the first place, and why it makes my life better.
I find this simple mindshift makes a world of difference.
The Upfront Investment
In a previous blog, I provided an honest breakdown of Amazon FBA first year costs.
Spoiler alert, it’s about $16,000 USD (give or take) if you hope to create a long-lasting listing asset.
Make no mistake, that’s a lot of money. Trust me.
But let’s not forget, I lost about that much on my first product, then invested even more into other failures. After ultimately succeeding, here’s a few key takeaways to fight the investment butterflies.
- Formulate healthy habits and positive self-thinking. The better I felt physically and mentally, the less anxiety and stress I felt about the business and its unknowns.
- This sounds cliche, but confidence in yourself goes a long way.
- Read books about entrepreneurship and investing. This will help ease the financial pressure and give you a clearer head on what to expect, both financially and emotionally.
- Surround yourself with like-minded, entrepreneurial-spirited people.
Imposter Syndrome
Are you worried you don’t have what it takes to be a business owner?
Does the idea of starting an LLC, or Trademark feel over your head?
It really, really shouldn’t be.
I’ve said it time and time again, business is just problem-solving.
Start small. You feel nervous because you have the whole house in your head.
Start with a brick. Once you get a few layers down, it becomes much easier.
Check out my YouTube channel for full in-depth Amazon FBA tutorials.
Waiting on Results
Getting your first sales, keeping sales steady, and ultimately seeing a ROI takes time.
All the while you’re thinking, “is this actually going to work?”
The solution to this is pretty straight-forward. Track your data!
For example, if you keep an eye on keywords and organic ranking, it’s simple to track your product’s progress. I talk about this strategy in my Amazon FBA field manual.
The bottom line is that there’s a data-backed approach to ease the mind here.
The Time Devotion
“How do I find time for a side hustle?”
“I don’t know if I’ll have enough time.”
“How can I speed up Product Research?”
OK. Here’s the nitty gritty.
There’s no secret. You just have to make the time.
Plan on waking up an hour early, and staying up an hour late. Turn your Sundays into work days. Work on lunch breaks. Skip the Friday night drinks. The sooner you make the business a part of your weekly schedule, the better.
And the more time you devote each week to your Amazon business, the faster you’ll see results.
While this might not be the answer some want to hear, trust me, it works.
Endless Product Research
One reason I despise studying for tests is that one can spend hours, weeks, even months preparing, and never feel quite ready to invest.
It’s the same reason I hate product research.
So you’re not alone if you find yourself months into product research and haven’t gained traction, or fail to find a product to move forward with.
- Finding products in Amazon’s Goldilocks zone, or using certain metrics to reduce possible risks is one way to get the ball rolling.
- Another is by product verification through an experienced seller or service.
- Just don’t do what I did, and invest in three failed products and tens of thousands of dollars lost.
Take your time on this step, but don’t give up. There’s new opportunities for selling on Amazon everyday, it’s just a matter of finding the right one.
Are You Ready to Start Selling on Amazon?
My Amazon Wealth Accelerator (AWA) mentorship guides you through the entire Amazon FBA process and provides a community of support with others on the exact same journey.
You’ll get hands-on support from experienced sellers with your same goals and aspirations.
AWA gives you a much-needed safeguard from costly mistakes, dead ends, and failed product investments to efficiently reach your passive income goals.
So whether it’s solving issues with your Seller Central account, creative approaches to product research, scaling to new markets and niches, validating product ideas, customer service issues, and more, we’ve got you covered.
Learn more about it here.