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MenuWould love advice on book arbitrage and best practices?
We need to know if anyone has done anything with https://zenarbitrage.co/free-trial
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Book arbitrage can be a great way to make extra income with Amazon FBA but it's not for everybody. While I don't have specific experience with the program you posted, I looked at the web page to see what they are all about. First, the link opened 10 identical browser tabs which is pretty suspect and feels spammy.
Their program is specifically geared to finding cheap books on Amazon that have few or no FBA sellers. You buy the books and relist them as an FBA seller at a higher price then pocket the difference.
I don't have any experience with this type of arbitrage so I can't say if it's a profitable method. If you're just starting out, I would go to places like library book sales and Goodwill to find cheap books.
There is a big movement right now for college students to find alternative sources for textbooks since they can be extremely expensive. This is an excellent opportunity to find cheap textbooks locally and sell them on Amazon. You make money and the buyer saves money vs. buying from a bookstore.
If you're considering buying this program, I would strongly recommend doing more research as there is a wealth of free information out there on book arbitrage.
A personal favourite of mine is Principle by Ray Dalio. For social media growth, this list includes a few book books to help you jumpstart your project: https://www.growthboost.co/blog/the-best-social-media-marketing-books/
Related Questions
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What are the key techniques to have a successful FBA Amazon business?
Besides being trained in the best keyword ranking techniques, you need to have just the right product. Easy to manufacture but not too easy to knock off. Otherwise you will find yourself ranking and then immediately getting chased by others willing to go leaner on margins. Product sourcing and design/development can be the differentiator that allows you to stay in a product category for much longer and really get a good ROI.TH
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What would be some top tips for Amazon FBA sellers starting out?
In my mind, private label and building your own brand/nich products is the way to scale on Amazon.LH
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How can I grow an email list of 100 people to a list of thousands of qualified leads?
Obviously you need to generate more leads. But then you need to segment your list. Your basic list are those leads who "come aboard" and want to know what's going on. Your qualified leads list are your potential buyers. Between the two, you need a gate. So, they come on your big list. Then they need to get something that qualifies them from being a basic prospect to being a qualified prospect. That puts them on the second list. Leads >> Qualifier >> Qualified Leads. What's the topic of your book? Qualify by things people have said in similar book reviews. This is a lot easier if you are doing non-fiction, but it's possible with fiction as well. In the reviews you'll see people saying things like, "I bought this book because..." What they say after that is the pain point. Use this language, as they wrote it, in your qualifier. For example, in a review for SPIN Selling, someone says, " I don't do "hit and run," one-time sales. Tom Hopkins and Zig Ziglar offer great tactics for those kind of salespeople, but they don't work for me." Another says, "...I had no idea how to sell professionally. I had already read a few books by Tom Hopkins, but felt he was targeting used-car salesmen types. It seems as though Hopkins' techniques relied on "closing" gimmicks when it came down to it. (I must say I did learn some good principles from Hopkins, but his gimmicky style is not for me.) I was instantly attracted to SPIN SELLING when I saw that (1) it was based on extensive research, and (2) it dealt primarily with the large sale. Since I want to start my own corporation after my MBA, and want to have Fortune-500 companies as my customers, I realized SPIN SELLING was for me." See the commonality? So if I was launching a solid B2B sales techniques book, I would make use of this language. First, I would attract them to my basic list with the promise of a corporate B2B sales book. Then, I would qualify further with language like, "Are you looking to build real relationships with your customers, instead of hit-and-run one-time sales tricks? Are you eager to understand the secrets of professional corporate selling?" A Call To Action would follow. Those who respond to this language are qualified leads, as salespeople in other situations would not resonate with that copy. How can you transfer what I've shown you here to your niche? If you're writing non-fiction, as I said, it should be straightforward. If it's fiction, then you can find similar stories and pull from the reviews for those...the things they say they like about the author's style (assuming yours is like theirs), the story structure, the excitement, the thought process, or whatever. Why not just go straight for the qualified leads? Because your net won't be big enough. Better to grab a whole lot of interested readers, which you can make use of later as well, and qualify from there.JK
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Is selling on Amazon that easy?
Compared to other business ideas, yes it is easy but it's not 'push-button' as many experts would have you believe (as they pitch you their $5,000+ training/services to help you). Selling products on Amazon is a business and the more you treat it like 'your baby', the much higher chance you will have with success. Also buying products in bulk and rebranding them (this is called 'private label' or 'white label') is just one of 25+ ways to get products to resell on Amazon. For more free information than you'll ever need to get started, check out my resources page at: http://jordanmalik.com/blog/resources (especially near the top under 'Amazon - Free Beginner Help'. Also (if you're interested in a high-quality, low price course to help you along), check out my free review guides/comparison charts of the world's best Amazon seller training at: http://jordanmalik.com/blog/asm and http://CourseComparo.com .... Good luck!JM
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If you were given a product to sell on Amazon for a traditional retail company, what percentage of sales would you charge?
You have to see how much gross profit and net profit is there in the product sale. Let's assume the net profit is X then you could ask around 15% to 20% of the net profit. It also depends on how much efforts you are doing and who is paying for the paid ads. It also depends on how much efforts client is doing to build his brand on social media and other channels because if he is doing efforts, there will be more sale of goods.MA
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