How to Build Value into an Amazon Business with Diversity of Products & Factories

How to Build Value into an Amazon Business with Diversity of Products & Factories

Okay, Amazon sellers, I’m going to talk to you a little bit about building value into your Amazon based business. And today, we’re going to be talking about basic business philosophy, basic business acumen, and that means diversity.

If you want to build a real killer Amazon based business that you can get investment in, that you can sell for millions of dollars down the road, this is absolutely vital, diversity, it is business 101.

So when it comes to an Amazon based business, what type of diversity do you need?

You need diversity in the products that you have. You can’t be just a product. You have to be a business. So you need more than one product. You need more than a handful of products. You need products that have other products, products that have accessories. You also need to diversify in terms of where you’re getting your products from.

If you’re getting your products from one factory in China, and that factory starts to steal your ideas and sell your products to other Amazon based sellers, you have just lost a huge value of your business. So not only do you need to diversify your product line, you need to make sure that you are not beholden to any one source of products, and that means multiple factories and even multiple countries.

You need to know every single way to build value today, to build value right now in your Amazon based business.

So let’s first turn to your products. The way most Amazon sellers began their businesses is by buying and selling other brand’s products. Some of you are drop shipping. Some of you may still be doing drop shipping. Then you move on to a traditional retail environment, where you’re buying products wholesale and selling them retail. Some of you might even be selling products to Amazon itself through Amazon’s Vendor Program.

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