Helping You with Your Amazon FBA Business

Celebrate Your Amazon FBA Accomplishments!

Happy New Year’s Eve!

I’m sure that many of you are in the middle of creating your 2018 goals and action plans.  I’m still working on mine and will share them with you in my next post.

But today I want to look back into the past and celebrate today.  It’s so easy to get caught up on where we want to be in the future that we forget to appreciate what we already accomplished.

Feeling Down to Feeling Accomplished

I admit that I’ve been feeling down lately because my business isn’t exactly where I want it to be.  I want more monthly profits, I want more bundles, I want more shoes in my inventory, I want more wholesale accounts, I want this and I want that… So, I’ve been working on a 90-day game plan.

But then I stopped being so hard on myself and took a few minutes to look at my past goals and was amazed at how much I accomplished over the past 3+ years.  Now I feel like Super-Diana!

Now I’m more confident that continuing to work consistently on my business, learning from my mistakes and creating baby action steps to get to my goals will bring me more business successes to celebrate again next year!

Amazon FBA Accomplishments

I’ve made plenty of mistakes, changed my areas of focus too many times and lost money on quite a few purchases.  But through it all, my business has still grown.  Here are a few successes that I’m celebrating today:

From the May 2014 post: Amazon FBA: Goals and Action Plan: I wrote this post 9 days after signing up as an Amazon FBA Seller.  My goals were to hit $75, $100 and then $150 in monthly profits.   Outcome: I operated at a loss until I made a $122 profit in August 2014.  Then in December 2014, I made a $780.97 profit.

From the December 2014 post: Amazon FBA New Years Resolution: I’m Going To…: I created a SMART Goal to earn a $500 month profit by February 2015.  Outcome: After December 2014, it wasn’t until August 2015 that I made another $500+ profit.  This was also the month that I quit working 52 hours a week at my job and had more time to devote to Amazon.  In December 2015, my profit was over $4,000.

From the May 2015 post: I’m Leaving My Regular Job to Work at Home: My big goal since 2013 was to quit working 50+ hours a week at my old job and to work at home.  Outcome: I still work Mondays at the auto repair business to give my awesome replacement Sarah a day off and to get out of the house.  Tuesdays thru Sundays, I’m at home working on my online empire and caring for my mother.

From the September 2015 post: Pay Yourself and Build a Profitable Amazon FBA Business: I read Profit First and followed the author’s advice to pay yourself.  So my first “paycheck” goals were to pay myself $50 and then $100 twice a month.  Outcome: I gradually increased the 2x a month paychecks to $150, $250 and then to $350.  Once I hit $700 a month in take-home pay, I quit increasing it so that I’ll have more to invest in my business and to put into my savings account.

The 2016 goal was to become a shoe seller to increase my per-item profits.  Outcome: In 2017, shoes accounted for over 73% of my sales.  If you follow me on Facebook, I recently shared a screenshot where I made a $104.25 profit on one pair of shoes!

The 2017 goal was for every month to beat the sales for the same month in 2016.  For example, January 2017’s goal was to beat January 2016’s sales. Outcome: I beat every month and the 2017 sales are 192% higher than last year’s sales.

2018 goals?  I’ll be covering that in my next blog post.

Look back at your own personal Amazon FBA journey and see how far you came.  If you didn’t meet your goals, then that’s okay too!  Just get started again tomorrow even if it’s just one tiny baby step each and every day.  If you do that, I’m willing to bet that you’ll be celebrating your accomplishments one year from now.

I also want to take a second and thank you for supporting this blog and for using my affiliate links.  Just as my Amazon FBA sales grew from year to year, so did my affiliate income from this blog.  But better than that, I have made good friends on here and always enjoy my chats and emails with you.

P.S.  I’d love to hear your goals and accomplishments!  Please share them in the comments below!

P.P.S.  Not to be a downer, but it’s the end of the year and time to get going on the paperowork!  Here are some tips: Year End Reports and Preparing for Your CPA Meeting.

{ 9 comments… add one }
  • Ree December 31, 2017, 5:57 pm

    Wow, Diana…you really are Super-Diana! I’m very impressed and inspired by your accomplishments. You work hard and deserve all the success in the world 🙂

    As for me, my growth has been much slower; however, with that said 2017 is the first year that I’ve paid myself anything. I’ve been at this since mid 2014. I hope to write myself a check for 10% of revenue each month in 2018.

    Like you, I’ve changed up my business model several times. A couple of months ago I decided to shut down all of my business efforts except one and focus like a laser on that one in 2018. I’ve learned that I’m a sucker for shiny objects (read as “new business ideas”) and that fractures my focus. Let’s see if I can grow my one business next year so I feel like Super-Ree by year end 🙂

    Have a wonderful New Year and thank you for sharing your experience with us!
    Ree

    Reply
    • Diana December 31, 2017, 6:33 pm

      Hey Ree,

      You’ve worked hard too and I’m impressed that you developed successful Private Label products early on. I hope to be like you and have a line of PL products too!

      I completely understand about having Shiny Object Syndrome. I’ve changed my focus so many times. You are smart for laser-focusing on the “one thing.” This is something that I need to do as well and you just inspired me to narrow down my 90-day game plan more.

      Wishing you a wonderful New Year too and I’m looking forward to hearing about Super-Ree in the months to come!

      Reply
  • Sarah nguyen January 7, 2018, 1:37 am

    Hi Diana
    Congratulations on your accomplishment.I am really happy to find your blog.I am a foreigner starting to sell on amazon 3 months ago using FBA service.I only have 1 product at the moment and make net profit about $400 a month.Since I import goods from China,I plan to set up a LLC in the Deleware state for the tax purpose in the future .Unfortunately when it comes to business liscence,it is confusing for me.I have contact a company in the us to obtain business liscence for me but it seems they don’t have much experience with this type of business.May I ask you what type of business liscence you get and does it depends on the items you sell or it is a general liscence for selling on amazon?
    Thank you so much for your input.
    Regards
    Sarah

    Reply
    • Diana January 7, 2018, 5:16 pm

      Hi Sarah,
      My business structure is a Sole Propreitorship. But I know that many Amazon FBA Sellers set their’s up as an LLC like you are planning to do.

      Every state is different, but in Washington, I was able to sign up as a Sole Propreitor, become a licensed business and get my Reseller’s permit all in one easy step. I recommend that you go to Delaware’s Dept. of Revenue Website and just start the process. You may be able to do it on your own.

      There isn’t anything special about selling on Amazon when it comes to business licenses. Buying and Selling goods is pretty much the same whether you operate out of a retail store or an online store. Plus online selling isn’t anything new. So I’m not sure why that company that you contacted needs extra experience.

      It’s great that you are doing well with your first product. The other thing that I recommend is that you get business insurance if you havent’ already done so.

      Good luck and let me know if you have any other questions!

      Diana

      Reply
      • Sarah Nguyen January 9, 2018, 1:41 am

        Thank you for your advice.
        The company I contact does not really know much about the e commerce.They asks me where my inventory is stored.I tell them I don’t know since I am using FBA service.They say the business liscence can only be obtained in the state where my physically have my inventory.They could not apply any types of liscence for me In DE if I don’t store any inventory there.So I am not sure which state should I apply liscence for.

        Reply
        • Diana January 9, 2018, 4:06 am

          Do you live in the USA or in a different country?

          If you live in the USA, you normally get your business license in the state that you live in.

          With that said, your inventory will be stored in multiple states as Amazon will have you ship your inventory to different warehouses and then Amazon often transfers the inventory to different states. Unfortunately, if you live in a different country, I don’t know how that works. Also, if you choose to get your business license in a different state than you live in, I’m not sure how that works either.

          But no matter what, you should only need one business license period. And then if you choose to collect sales tax in your nexus states (the states that your inventory is stored in), then you will apply for a Reseller’s Permit in those states.

          I hope that helps!

          Diana

          Reply
          • Sarah Nguyen January 9, 2018, 12:59 pm

            Unfortunately I don’t live in the US .How do you know your nexus state when you are using FBA services?
            Sarah

          • Diana January 9, 2018, 4:05 pm

            Hi Sarah,
            Here’s the link to a blog post that explains more about nexus. Sales Tax 101 For Amazon FBA Sellers

            However, before you worry about sales tax, you need to learn about a business license. I know that the My Silent Team Facebook Group has international sellers. Maybe join that and see if there’s someone that lives in the same country as you that can help?

            Good luck and let me know if you have any more questions!

            Diana

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About Diana


I am working towards creating a full-time income by selling on Amazon. It's a lot of work but very fun! If you're interested in selling on Amazon, be sure to follow my blog as I'll be providing you with lots of tips!

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