226 Entrepreneur Mindset for Amazon Sellers
98% of Amazon accounts that are open are inactive or closed within a year. That tells me there are a lot of people that try to make it on Amazon that don’t have a growth mindset.
You need a growth mindset
I have dealt with this a lot in my mentoring program. People approach me, looking for help, but they don’t have the right growth mindset, so we end up wasting time which benefits no one. I would like to share some of these stories with you.
You need money for FBA
There was an applicant I was interviewing that only had about £500. The minimum for me to work with you is £5000. He said he was going to borrow the rest from his uncle. I had to turn him down because I’m not comfortable working with someone that is using debt to start their business. It may work for some, but for me, it’s not a good model because you’re liable for the interest and other headaches that go along with debt.
There are no guarantees on Amazon
Another potential mentee wanted me to guarantee her that she would be making at least £1000 a month. While that is a reasonable question, it’s not a reasonable expectation. I wasn’t able to work with her because she didn’t have the right growth mindset. That amount could be higher or lower. There’s no way to be able to make that promise. It’s takes an entrepreneurial mind to be able to make a living selling on Amazon.
There are no guarantees in life
While selling on Amazon can be risky, there are no guarantees at your day job. You may have been working at the same company for 25 years but if it’s in a declining industry, it could fold next week. One thing to keep in mind is that Amazon is in a growing trend. The amount of retail that is occurring online has been growing for years and will keep on growing.
Take the chance
If you feel that you have that growth mindset then join our Facebook group. If you are ready to jump in, consider joining a mastermind with likeminded people. We have the Zero to Hero mastermind for those looking to get started with £5k. if you’re doing over $10k then consider joining the $10k Collective. If you are looking for one-on-one support then my mentoring program may be for you.