Updated: Jul 7, 2021
Stress is an inevitable part of the life of an entrepreneur, as juggling ten things at once is usually a daily occurrence. And now more than ever, people are aware that there are many uncertainties in life, especially given the hard truths and new normal we’ve all adjusted to recently, including working from home and a melding of professional and private life.
If you’re an FBA business owner, you don’t get any days off or much time to unwind, as this could mean losing out on sales to a competitor or going out of stock. So how do you find a balance in the midst of all the job-related pressures of a demanding work life and trying to stay motivated, especially when your home is your work?
See the Positive Side
Sure, there may have been a global pandemic that, on an economic level, led to shutdowns, shipping delays, and more. But did this not open the door to a newly vitalized eagerness for online shopping? For FBA entrepreneurs, the silver lining of the torrential rainstorm of 2020 was that with most of the world stuck at home, all buying necessities were directed to online retail and suppliers. According to Forbes, Amazon hit record numbers for 2020 with a net profit up 84% compared with the previous year and annual revenue reported at $386 billion, much thanks to the global situation. The changes happening created new opportunities for online sellers, with many FBA business owners reaping some of the rewards. Remember that a seemingly dire situation can bring unexpected opportunities.
Never Forget about Your Purpose
Looking back, what was your reason for starting an Amazon business? Did you have a dream you always wanted to fulfil? How did you decide what you would sell and how you would market it?
Asking the right questions can help you realign your vision and consider the real purpose that your business serves and the value it provides you, helping you refocus your position in the Amazon market.
The more dedicated you are to your purpose, the easier it will be to determine your next step–regardless of external factors, meaning your business won’t be affected if you have a bad day or get some good news. The vision and purpose you establish for your company determines its trajectory.
Create Daily, Weekly, Monthly, and Yearly Goals
There is a connective pattern by which short-term and long-term goals are established. It all starts with a single step, which means in order to reach larger goals, start with the small. The links that connect one goal to the next will eventually lead you to your most ambitious and immense ideas. If your plan is to bring in $200,000 in revenue in a year, break that down into smaller milestones that will bring you closer to reaching that figure, like setting a monthly goal of selling X number of items. If you don’t meet your goal one month, adjust your strategy so you are still on track and stay motivated to hit each target.
Find a Way to Celebrate Small Victories
Establishing specific goals that are easier to achieve within a set amount of time also gives you the chance to celebrate these victories–no matter how small–more regularly. Accordingly, celebrating small victories can help you maintain motivation when it comes to your business, allowing you the gratification of appreciating what you’ve achieved, as you achieve it. You get to watch your business grow in real-time.
Small celebrations can be simple, so long as they remind you of your progress and keep you inspired to keep pushing forward.
The Personal Value of Your FBA Journey
Once you establish your purpose as an Amazon business owner, take a look at the personal value your endeavour provides you. When you attach a more personal outlook, you will be more invested in the success of your FBA business, as well as its challenges, which will drive you to overcome them. As an entrepreneur, your seller business is inherently personal to you, which is all the more reason to push for the best results.
Growth is a Great Motivator
Growth is always a goal worth sticking to.
Amazon remains a powerhouse with no chance of dwindling in sight, so if you want to be one of the top Amazon sellers, it’d be wise to stick with the giant and benefit from the upward trend of online shopping to find opportunities and chances to engage with more customers. With so many physical businesses closing down, going virtual is certainly the next best thing, if not the best thing. Both small and large brands are now sharing the Amazon platform to get a piece of the e-commerce pie.
Take a cue from the master of online retail and look for where and how you can grow the most: maybe there’s an untapped niche that has few competitors. Connect with your target audience and figure out how you can improve your product’s appeal to meet their needs. The dream of growing a 7-figure FBA business is a lofty one but definitely attainable, and there are few other things quite as motivating as the thought of a successful business.
This Journey is Not Just Yours – It’s Your Followers, Too
The most encouraging part in the Amazon FBA business is the fact that you are not alone. Not only are there hundreds of thousands of other sellers who have already been where you are, and experienced the ups and downs, but you also develop a customer base.
When you start selling on Amazon, you might start slow, but if you apply an effective customer outreach strategy, you will steadily gain a following. This is especially true when you decide to sell as an FBA entrepreneur and engage in different forms of marketing, either through the Amazon platform itself or social media. As your product gains more recognition and people become familiar with your brand, you can develop loyal relationships with your followers. If you have made a good name with quality products, you will get the attention of several followers.
When you look at your FBA business as more than just a means to get sales, you will start to consider your followers as critical elements to your success, rather than simply customers. With this mindset, you can relate to and better understand who buys your products, allowing you to create ads that are more specific, more effective, and more practical in terms of getting the attention of the right people. With this approach, you will be more engaged with your target market.
Passion Over Profit
Profit is no doubt a primary motivator for many Amazon sellers as they enter the platform. Nonetheless, focusing on the money alone can be exhausting.
It can be discouraging and detrimental to the health of your FBA business if you’re never making as much money as you want to. The truth is, even though certain figures are defined as success, to reach these you have to start somewhere. Focusing solely on a specific dollar amount can drain you of motivation, and make it harder for you to actually reach that idealized number you have in mind.
On the other hand, passion and personal goals combined with a quality product, stellar marketing, and attentive customer relations can take your selling journey farther than a single-minded focus on profits ever could. A personal interest and connection to why you sell, not just how much, can give you a bigger push than dollar signs, and you may even surpass original goals.
A truly invested Amazon FBA seller will not easily give up when confronted with lagging sales.
Entrepreneurs always keep a beat on what’s happening in their business, so keeping motivated when your work life and personal life become fused is crucial for success.
Finding motivation may not always be easy, but there are tricks to keep you passionate as an FBA entrepreneur. But, if you think you’ve tried everything and you’re ready to make a clean exit from your Amazon seller business, we can show you how to sell your FBA business so you can find your next passion project to keep you motivated. Talk to one of our team of experts today to make sure you come out on top.