Hello! I hope that all of you are staying warm this winter! In my little corner of the world, it’s been very cold and snowy. It’s not all that bad because the bad weather has made it less tempting to go out. So I’ve been spending my extra time at home focusing on opening new wholesale accounts!
I’m excited to announce that in five days of focused effort, I landed a great wholesale account.
In this post, I’ll share how I got started with wholesale and tell you about a free training series that will help you get started with wholesale.
ASD: My Wholesale Starting Point
My wholesale “start” began last year when I went to ASD. I went there and did what I was taught to do – gather wholesale catalogs and then go through them looking for good products to sell on Amazon.
I found this process very tedious and time-consuming and it does get discouraging when you spend an hour going through a catalog without finding anything. But eventually you will find a good product but you just can’t buy it. You need to apply for a wholesale account first and hope that you get approved.
I went back to retail and online arbitrage because even though both methods are also tedious and time-consuming, I could at least purchase the products immediately.
Starting Over with a More Efficient Wholesale Sourcing Method
In May 2016, I watched a webinar with Dan Meadors and Eric Lambert from Source.Sell.Profit. They have an impressive success story of starting their Amazon FBA business with $600 and doing more than $850,000 in sales their first year with Retail Arbitrage.
Then they turned to wholesale and now have a multi-million dollar business. I wanted to learn about their wholesale strategies so I signed up for The Wholesale Workshop.
Their approach to wholesale is a complete 180 from what I learned while preparing for my ASD trip. Instead of finding wholesale companies first, Dan and Eric find wholesale products first.
More specifically, they start their wholesale product sourcing on Amazon. They go through the products on Amazon, looking for ones that meet their criteria. Once they have a list of good wholesale products, then they contact the product manufacturers and inquire about opening an account.
Their method is more efficient as you won’t be matching up countless wholesale catalog items to Amazon product listings.
Staying Focused and Taking Action
Most of my long-time blog readers know that I do switch my focus quite a lot. Maybe too much. But I do take action every day in my business and when I do laser-focus in just one or two areas, I do pretty well.
For example, during the first week of January, I focused only on selling shoes and getting a wholesale account. So I ordered shoes every morning and had them shipped to a prep center. Then I spent my afternoons working on wholesale. In just a few short days, I was approved for a great account!
Then on January 12, I was approved for another account!
Are You Ready for Wholesale?
** Affiliate Disclosure: This video series is FREE and contains information that I believe will be incredibly beneficial to you. However, I do want to disclose this is an affiliate link. I am an affiliate of The Wholesale Formula and do receive a commission should you purchase a product from them. Please understand I have reviewed their products and take great care in any recommendations that I make.
I’ll be back soon with another wholesale blog post. Until then, feel free to ask questions, leave a comment or just say “hello.”