Though 54% of sellers say their first product launch was profitable, the rest don’t succeed until their second or third attempt.
Sometimes you do everything right, and things just don’t go your way. From a young age, we’re encouraged in these situations to “never give up, never surrender.”
That’s cute, but I’m here to tell you that when it comes to running an FBA business, there is definitely a time and place to give up and surrender.
When and where? Well, let me tell you…
- You’re late for a very important date.
- While you got your brilliant listing idea pulled together, others beat you to it. That stinks, but getting into a price war stinks more.
- There are some things you can try like offering coupons, optimizing your listing, or even diversifying where you sell. But if the competition is too fierce to catch, let it go.
- Trends come and go, but profits should be forever.
- Remember fidget spinners? They had their 15 minutes of fame, but that’s it.
- Use Google Trends to track the popularity of your product over time so you know where your product is at in its trend cycle. If it’s on the decline, bail.
- Bad press is only good press if you’re a celebrity.
- Bad reviews will hurt your product. If you can figure out what’s driving the negative feedback and solve for it, great! But through legal means only. Don’t start showing up at reviewers homes with a score to settle…
- If you can pull off a Karen-maneuver and get the bad review removed, more power to you, but it’s probably easiest to just make a bulletproof product.
If you believe your product is falling into any of these camps, say your farewells. If you’re able to liquidate remaining product that’s ideal because MONEY, but if not, just rip off the bandaid and remove your inventory.
What happens next? You find your next big idea, of course!
They say every time an Amazon listing dies one of two things happens: either an angel gets its wings, or another Amazon listing is born. So what will it be?
