How to Achieve Financial Freedom with Amazon FBA

Are you curious about how to make a solid income through Amazon FBA? Well, I’ve got some exciting insights for you! Imagine the potential of earning big bucks while balancing family life. Let me introduce you to my inspiring interview with Lindsey  Ernst from The Selling Family, a six-figure Amazon FBA seller and mompreneur.

Picture this: a diverse lineup of successful mompreneurs from various fields, all sharing their secrets on how they make money from home, many in online or work-from-home jobs you might not even know existed.

So, grab your coffee, settle in, and get ready to be inspired.

Let’s kick things off with the burning question: Can you really make money selling on Amazon? Lindsey  Ernst’s story is a testament to the possibilities. She’ll walk you through her journey, from humble beginnings to becoming a thriving online entrepreneur.

Lindsey  Ernst’s Journey to Amazon Success:

“I always had a hunch that my path would lead to the online world. Even when I had a full-time job, I dabbled in various ways to make and save money, like couponing, blogging, and selling items on eBay. But my official journey as an online entrepreneur started in 2008 when I got laid off from my last 9-to-5 job. Newly married and determined to avoid another traditional job hunt, I dove headfirst into online business.

My very first venture was buying inventory from yard sales to sell on eBay. Surprisingly, it only took a few months to replace my full-time income with eBay profits, and I was hooked on working for myself. However, I knew eBay wouldn’t cut it in the long run; it was time-consuming, limiting my earning potential.

Then came my lightbulb moment – Fulfilled by Amazon (FBA). With FBA, Amazon handles most of the reselling process, from storing items to shipping them to customers and handling customer service. I immediately saw the potential and decided to give it a shot.

Suddenly, the time I used to spend on listings and orders was redirected toward buying new inventory. I adopted the Retail Arbitrage method, shopping at stores like Walmart and Big Lots, including clearance items. This method allowed my business to grow rapidly.

By 2011, our Amazon business was making enough money for my husband Cliff to quit his corporate job and join me. We’ve been working together ever since!”

The Money Talk:

“You might be wondering about the numbers. Over the 11 years we’ve been selling on Amazon, our income has seen quite the evolution. In our first full-time year, we made $100,000 in profit from around $300,000 in sales. Keep in mind; we weren’t your typical full-time workers – we balanced it with family life. With a young son, we only worked on Amazon during evenings and weekends.

We’d usually spend one full day per week in retail stores, buying new inventory. During the busy season (November and December), we’d invest more time in stores, reaping the rewards of holiday sales, which often accounted for half of our annual Amazon income.

What’s incredible is that we could manage most aspects of our Amazon business from home. We’d prepare inventory on our kitchen table, pack it into boxes, and have UPS pick up our shipments. I’d also handle computer tasks during the week, like pricing inventory and bookkeeping.

As our business grew, we reinvested a portion of our profits into new inventory, creating a powerful snowball effect. Today, we source for about 5 hours each week, aiming to send one shipment to FBA per week. Even on this schedule, our Amazon store consistently generates at least $5,000 in monthly sales.

As my online ventures expanded, I started blogging about Amazon FBA, which led to creating Amazon courses. This diversification allowed us to scale back on Amazon FBA without compromising our income.”

Balancing Amazon and Family:

“Balancing work and family life has been a priority from the start. We homeschool our son, so we’ve always tailored our work schedule around his needs. He’s been involved in our Amazon business since he was a toddler, helping with tasks like packaging items and even shopping for inventory.

Now that he’s older, he actively participates in inventory sourcing and has even turned his allowance money into a profitable venture. For us, being good role models of entrepreneurial spirit and spending quality family time together is the best part of this journey.

We’ve strategically built a business that allows us the freedom to take vacations and enjoy family outings. Even if we end up shopping for inventory on the way home from Disneyland, we cherish the flexibility our business provides.”

Challenges Along the Way:

“Starting out on Amazon had its share of challenges. Back then, there were few online resources, so I often had to navigate Amazon’s help section or take educated guesses, leading to costly mistakes.

Nowadays, there’s an abundance of information online, and many products and services cater to Amazon sellers. The challenge has shifted to information overload, with new sellers feeling compelled to buy numerous software subscriptions right away.

My advice is to follow a step-by-step system for selling on Amazon, starting small, and reinvesting profits as your business grows. This approach creates more profitable and enduring Amazon sellers.”

Why Some Succeed While Others Don’t:

“In my experience, success on Amazon boils down to persistence. Many aspiring sellers give up too quickly, often right at the beginning. Scanning product after product and coming up empty-handed can be disheartening, but success might be just one scan away.

Retail Arbitrage is a numbers game, and the key is scanning numerous products to uncover the winners. Some sellers fail because they can’t adapt to changes. Amazon’s marketplace evolves, and those unwilling to adapt are quick to declare its demise. Yet, here we are in 2023, with Amazon’s third-party marketplace thriving more than ever.”

Top Advice for Amazon Success:

“My best advice for succeeding in Amazon FBA is to set realistic expectations. Understand that it’s not a get-rich-quick scheme; it’s a business that requires time and dedication. Plan on reinvesting your profits for the first three months without a paycheck.

Treat it like a serious business from the start. While shopping for inventory may seem like a hobby, taking it seriously yields better results. You can test the waters without making a huge commitment, but you’ll succeed faster if you commit wholeheartedly.

Consider investing in a course, learn essential business tasks like tracking expenses, and stay dedicated. With dedication and the right mindset, Amazon FBA can be an incredibly fun way to make a full-time or part-time income online.”

Is It Worth It to Sell on Amazon FBA?

“In my and Lindsey  Ernst’s experience, the answer is a resounding yes! Selling on Amazon, particularly through FBA, offers tremendous income potential while allowing flexibility for family life. It’s undoubtedly one of the best ways to make money from home.

However, there’s a learning curve, and not all Amazon sellers strike gold. Seeking expert guidance, like Jungle Scout’s Training Academy Course, can save you from costly mistakes and accelerate your path to profitability.

I’m truly grateful to Lindsey  Ernst for sharing her Amazon journey, proving that it’s possible to achieve financial success while balancing family life. The fact that her whole family, including her son, is involved is truly inspiring.

And kudos to her son for using his allowance money to turn $20 into $132 by selling on Amazon. It’s a hands-on money lesson we should all embrace from a young age. So, if you’re intrigued by the idea of selling on Amazon, take the plunge and learn from the best.

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