Amazon continues to bloom as a juggernaut in eCommerce. They are opening a $1.5 billion new air cargo hub in the Cincinnati market to help with same-day deliveries. Most people are consumers of Amazon, or maybe even stock investors, but few understand how to make money on the eCommerce side of the business.
To learn more about making passive income on Amazon, we connected with an eCommerce entrepreneur, Mike Begg. Mike started out in the commercial retail sector before seeing the opportunity with eCommerce. He started selling low-cost items like ebooks before creating a full-fledged business. Now, he runs a digital marketing agency dedicated to advertising on Amazon.
In this episode, he shares thoughts on retail and consumer behavior, how to get started making money on Amazon, and insights to grow an eCommerce business.
Listen Here:
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How to Start or Make More Money on Amazon
Started out with Sears real estate development and knew they were going down and started in eCommerce and building brands to sell on Amazon
Launching his first eBook
eCommerce was a way to get in by investing money into an eBook and started selling stuff at low cost with low risk.
How he monetized his eBooks (ghostwriter!)
Making money on Amazon with a small investment
Working his day job, developing real estate and at night working on eBooks
The great thing about eCommerce is once you have a product, a supply chain and branding, it becomes passive income.
The process of how to develop content for an eBook and how to sell it
Ways to find a ghostwriter and publish your eBook
How to find your niche to write an eBook
Get yourself research tools like Jungle Scout, and you can look for search terms on the Amazon platform and get sales projections based on the search volume.
How to market your eBook or product on Amazon and build some buzz
How to use keyword research to market your content
Resources to help you market eCommerce books or products
Retail vs. eCommerce in the next 10 years
Omnichannel – Digital retail working in tandem with brick and mortar stores are the future of retail
Amazon’s advertising platform is larger than Google and Facebook!
How mom and pop retailers can expand their reach and make good money online using the Amazon platform
Big brands and how they are investing on the Amazon platform (moving money out of TV to Amazon)
How being flexible on Amazon will make you more money and allows you to stay ahead of the curve
Bullseye Round
Apparent Failure: One of our first brand launches failed because one of my partners was not invested enough. I learned to ensure all partners were on the same page and had the same goals.
Digital Resource:
Amazon App
Jungle Scout
Most Recommended Book:
The Obstacle is the Way (Ryan Holiday)
The Fountainhead (Ayn Rand)
Daily Habit:
Run every night
Current Curiosity:
What’s going on in the stock market (so many overvalued companies)
Wish I Knew When I Was Starting Out:
How easy it was to sell online and the importance of eCommerce
Best Place to Grab a Bite in Guadalajara, Mexico
La Matera
Get in Touch with Mike:
