Part 1 of 2: First Success
January and March were full of planning. I built this blog, ordered my first round of samples, and learned about the FBA process from start to finish. April was a month of action. My first round of products arrived at Amazon's warehouses, I started tracking inventory, and made my first sales on FBA! Although I had a decent stream of revenue, my profit was less than expected due to incorrect assumptions in my calculations. Nevertheless, my first sales validated the plausibility of my idea. For that, I'm calling it a "success"!
Some quick info:
Actual Revenue vs Projection
- My product was live on FBA for two 24-hour periods. I sold the same amount (37% of my total original inventory) during each period.
- Unfortunately, the gap between my calculated and actual revenues is what caused me to miss my profit goal
- I'm taking business-related classes throughout this year-long project (since April 1st)
Part 2 of 2: Second Phase
As my understanding of the FBA and sourcing processes increase, so too does my willingness to tackle harder tasks. In essence, I've broken down my tasks into a list of 6 phases
1. ☑ Self-fulfilled, uniform inventory (click for info ↓)
2. ☐ Self-fulfilled, bundled inventory (click for info ↓)
3. ☐ Drop shipped, uniform inventory (click for info ↓)
4. ☐ Drop shipped, mixed inventory (click for info ↓)
5. ☐ Drop shipped, bundled inventory (click for info ↓)
6. ☐ White Labeling (click for info ↓)
Click for summary ↓
Thanks for keeping up with the latest developments!