1032: Amazon Incubator Wisdom: Optimize Your Amazon Presence with Amazon Expert Lesley Hensell

Have you ever imagined your small business becoming a successful story on Amazon, confidently navigating the e-commerce landscape? Growing your business on Amazon is not only possible; it's an exciting journey full of opportunities and potential breakthroughs. Building robust relationships is a must – not only with customers but also with the ever-evolving Amazon marketplace. It's a reminder that success is not just about transactions; it's about cultivating connections that foster long-term growth.

Listen to this episode with Lesley Hensell, an Amazon expert & handler of the Tough Stuff, as she talks about Amazon and Walmart marketplaces. Leslie shares her experiences helping businesses overcome challenges, including a compelling story about a supplement seller targeted by a cyberattack. Gain valuable insights into the opportunities and obstacles on these platforms, the importance of building relationships and understanding your business metrics, and learn how to avoid get-rich-quick schemes when selling on Amazon.

Quotes

“If you develop a new product idea, you can't go down to your store down the street to Walmart or Target and get them to put it on the shelf. But you can put it up on Amazon and find out if it's something that's going to work.” – Lesley Hensell

“Amazon is still the biggest incubator for small businesses in the history of the world. There is no other place where you can test products and try new things.” – Lesley Hensell

“If you take the slow and steady, really boring old people way of running a business, as I'm one of those old people, then you're much more likely to be successful in the long term and achieve what you really want.” – Lesley Hensell

Takeaways

02:00 While Walmart is investing heavily in their marketplace, Amazon still maintains a dominant position due to the prevalence of Prime memberships and the Prime experience that customers have come to expect.

04:32 Amazon is still the best "incubator" for small businesses and entrepreneurs to test new product ideas and find success in niche markets.

12:10 Developing legitimate supplier relationships, verifying sourcing documentation, and knowing your financial numbers are crucial for running a stable and profitable Amazon business, rather than taking shortcuts.

18:05 Supplement and other highly competitive product categories on Amazon can be extremely challenging for new sellers, with risks of malicious competitor tactics like hacking listings.

23:50 Planning and scheduling your personal time, including weekends, can lead to greater productivity, fulfillment and rejuvenation, similar to how you plan your work week.

Resources

Podcast: Play in new window | Download (Duration: 25:38 — 35.4MB) | Embed

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