If you are an Amazon Seller, you most likely want to maximize your profit while selling a product you believe in. Our team is here to help you do just that. However, while tips for what you should do to maximize your profits are helpful, it can be equally as helpful to learn more about what you should not do as an Amazon Seller. That is why below, we have compiled a short list of Amazon Seller “do not’s.” For any further questions, do not hesitate to reach out to our experienced Amazon Seller CPA.
- Over-ordering stock: Many Amazon Sellers make this costly mistake. Though the thought of not having enough of a hot item in stock is scary, the truth is, there is nothing worse than paying for items nobody wants, as well as paying Amazon to hold them.
- Disregarding competition: No matter how well your product is doing today, that it is all subject to change in an instant in the online marketplace. Do not get overconfident, or even too relaxed. Always check up on the competition, see if they are doing anything that may be taking customers away, or will in the future. Check if they are doing anything people respond to, or do not respond to.
- Failing to optimize listings: Providing keyword-rich content is essential if you are looking to make it on the online marketplace. Do not underestimate the power of optimizing your listings.
- Breaking the rules: Though it can be tempting to cut corners from time to time, even if there is no malicious intent, the truth is, Amazon ultimately has the power to boot you from their platform–forever, if they want to. That is why you simply cannot afford to break rules. Ensure you thoroughly read their terms of service so you know you are abiding by the rules at all times.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States. All Amazon sellers should have an accountant they can trust. If you are looking to expand your business, or even form a new one, do not hesitate to reach out to our knowledgeable team today.