Today I shipped my first batch of products to Amazon. Within a week, I expect to be able to ship another 5 products that are currently en route from China by DHL.
Rather than just launch one product, I decided to hedge my bets and launch 6 products (all in the fashion jewelry category) at once because I’m pretty sure that I will have screwed up on 1 or 2 of them.
The total investment in product so far is approximately $1,300 and if all goes as planned (it won’t), my ROI will be 150% or so.
Each product sells for about $12 retail and costs me approximately $1.25. On top of the product costs, I’m expecting to invest about $1000 / product into PPC, as well as give a number of them away using ReviewKick.
For product research, I used JungleScout’s browser extension and the web app. Both were extremely helpful.
If you’re brand new to this and haven’t yet ordered product and you’d like to follow along with my experience, I will be talking about the results, marketing strategies, etc…on my podcast. You can find it at brightideas.co. I expect to publish the first eCommerce-focused episode within a week or so…unless my sales really suck…then I might wait a little longer.
And lastly, while these 6 products are for sale, I’m also going to be ordering samples for 3 more products in a different niche (pet products) and I plan to launch a shopify store for that niche as well as selling on Amazon.
If you are farther along than me and have advice, I’m all ears. If you aren’t as far along and you have questions, please ask in the comments and I’ll do my best to give you an answer.
Go trent go! I like your style:) ….and hey argue for your limitations and you will get them. my hope is you get 6 home runs out of the gate that blow you away!!! I know we are so attuned to expect hurdles, but sometimes the sun just shines!!! Hope you have hot days coming!!!
Excellent work Trent. I’m so excited to see you getting fired up. It’s really hard to find motivated people like us to take action.
I’m so fired up about this opportunity that I am going to China in April. Canton Fair Phase 2…. Planning to add 5-10 new products or more from this trip.
Trent – I would advise using an ungating specialist. I’m going through that process right now for beauty. From the research I’ve garnered so far, it seems you can try multiple times on your own and get rejected – So save yourself the bother and hire an ungating specialist – Will set you back around $150, but worth it IMO
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