385: Sell on Amazon in Europe for More Traffic, More Sales, More Exposure and More Money with Marketplace Superhero Stephen Somers

Stephen Somers says that, when it comes to selling on Amazon FBA, you're leaving money on the table unless you're selling in Europe. You can mail inventory to the UK and enjoy listings in Amazon marketplaces like the UK, France, Italy, Spain. Stephen explains what you need to know about setting up your European business identity and VAT tax compliance.

Just imagine if you applied the "Rule of Five" and sold 5 products, in 5 countries, 5 units per day, at 5 dollars each. That totals $18,750 in 30 days or $225k in a year, so why wouldn't you list your products in multiple Amazon marketplaces? He also believes that your products should be B.E.S.T.: Boring, Established, Sustainable, and Tangible.

Quotes:                                                                                                                                   

“We're not just sellers—we're investors. We're so painfully focused on the numbers because the numbers matter. I used to think they were boring, but when they started putting dollar signs, pound signs, and euro signs in front of them, it became really exciting.” – Stephen Somers

“The core of any business is taking a simple product, selling it over and over again at ever-decreasing costs. When you do that, you've got a formula for a powerful business.” – Stephen Somers

“We typically sell what we call B.E.S.T. products, which means they're boring, established, sustainable, and tangible.” –  Stephen Somers

Takeaways:

09:51 Selling on Amazon in Europe offers massive untapped potential with less competition and a larger combined market than the United States.

19:50 Understanding local market nuances, including language and consumer behavior, is crucial for successful international selling.

22:16 Focus on "boring" products that are established, sustainable, and tangible instead of chasing trendy, short-lived items.

33:24 Always calculate your numbers carefully, prioritizing profit margins over total revenue.

38:48 The "Rule of Five" strategy can help entrepreneurs scale their business by selling five products in five countries, creating multiple small revenue streams.

Resources

Podcast: Play in new window | Download (Duration: 46:28 — 42.5MB) | Embed

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Filed in: Amazon • Archive 2: 2017 • Interview • Podcast

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