#567: Top 10 pitfalls new & experienced Ecommerce sellers fall into - Part 2
Silent Sales Machine Radio
Jim Cockrum
4.8 • 811 Ratings
🗓️ 5 January 2023
⏱️ 27 minutes
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Summary
Concluding the 2 part series about the top 10 pitfalls many new and experienced sellers fall into when launching or growing an ecommerce business.
If you're ready to work with a PROVEN team - give us a call. Details are at JimCockrumCoaching.com
Pitfalls discussed in this Part TWO episode include:
Sourcing using liquidations
Buying based on INSTINCT
Using too much credit too soon
Pursuing your passions as a business model
Allowing isolation
As a reminder, yesterday, in the part ONE episode #566 we covered:
Chasing shiny objects
Pursuing "Just In Case" learning instead of "Just in Time" learning
"Over-buying" inventory
Trying to launch a private label brand as a new seller
Importing and dropshipping
Done for you models
Show note LINKS:
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ProvenAmazonCourse.com - the comprehensive course that contains ALL our Amazon training modules, recorded events and a steady stream of latest cutting edge training including of course the most popular starting point, the REPLENS selling model. The PAC is updated free for life!
ProvenReplensVA.com - We find, train and assign a VA (Virtual Assistant) to work ONLY for you as a "Replen Hunting" specialist!
Ou recommended legal advisor - Jeff Schick's website JeffSchick.com
Keepa.com -https://get.keepa.com/ede41 - the service we use to help interpret all of the selling data. Keepa is discussed in depth on episode 369 at https://silentjim.com/podcast
PrepCenterNetwork.com - Need a hand in prepping inventory? We have a list of all known Amazon seller prep centers worldwide. If you know of a prep center that's not listed, please let us know!
If you have any questions as a PAC student you should email Support@SilentSalesMachine.com
SilentJim.com/updates - get an alert on your smartphone each time we have a new podcast episode or free training event!
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, business building warrior, this is Jim with Silent Sales Machine Radio coming at you with |
| 0:06.7 | part two of a two-part episode. If you haven't heard part one yet, scroll back in time, |
| 0:11.9 | two or three episodes, you'll see part one of the ten pitfalls, the ten most common pitfalls |
| 0:18.0 | that e-commerce and Amazon sellers are running into, |
| 0:23.8 | especially when they're trying to launch and ramp up. |
| 0:29.3 | And I covered in the first episode about half the list, and we're going to cover the other half today. |
| 0:32.0 | So I won't revisit part one very much right now, |
| 0:36.1 | but just as a reminder, here's the things we hit and then we'll |
| 0:38.8 | jump into the things I promised to hit in part two. So in part one, we talked about chasing, |
| 0:44.3 | shiny objects and getting distracted by all the things going on in the world of e-commerce, |
| 0:49.9 | jumping from one convenient idea that just sounds fun and appealing to another one, right? |
| 0:54.2 | We talked about that. We talked about getting stuck in learning mode, just in case learning |
| 1:00.3 | versus just in time learning. We talked about that. Great segment. We talked about buying more |
| 1:06.6 | than just a few units to test. Instead of testing small, you go all in. Don't do that. |
| 1:12.7 | Trying to launch a private label brand as a new seller. Don't do that. Please. We talked about |
| 1:17.7 | importing, about drop shipping, and about done for you models. Those are things to avoid and |
| 1:24.0 | explain why. And there's rare exceptions to all of those, but extremely rare exceptions. |
| 1:30.6 | As a general rule, those are pitfalls. So what's left on the list for us to talk about of the |
| 1:36.5 | mistakes that you can make, including some mindset mistakes that I've seen? We're going to jump |
| 1:41.6 | into that today in part two. So picking up where we left off in part one, let's talk about liquidations, buying liquidations |
| 1:50.6 | and selling them on Amazon. You don't have to look far to find some people who are doing |
| 1:53.8 | fairly well with that model, but it is a very risky model because you could find yourself |
... |
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