Inside Information with Amazon Sellers Lawyer CJ Rosenbaum
Dealing with State Attorney Generals with Price Gouging Accusations
Sourcing Products in China & India for Selling on Amazon
Branding and Amazon’s IP Accelerator Program
How to Build a Million Dollar Amazon Business
In order to build a million-dollar business, you have to diversify. And it’s not just diversifying your income, it’s diversifying where you source your products. And that’s where India comes in. Check out indiasourcingtrip.com. It was founded by a woman named Meghla, who has just hit her 4,000th member on her Facebook group. And in India, you get a lot of products that you can’t get in China. Woodwork, metal products, textiles, leathers… Plus the quality of the products coming out of India is better than China. So you need to diversify your products. You need to diversify your sourcing because what we’ve learned from the corona epidemic is that factories also get affected. So check out indiasourcingtrip.com.
Here’s the main story of the day.. (This is going to be a series of videos to help you build a million dollar Amazon business).
Today, I’m going to talk about the first 3 tips to build a million dollar business on Amazon.
The first one is building intellectual property rights. You have to develop a brand. Branding and intellectual property rights, your trademark, your copyright, that is the value in your business since Amazon is such an erratic place to build a business. So you have to make sure you develop a private label, and that starts with a trademark.
Tip number two. Use Amazon’s IP Accelerator program. IP stands for intellectual property. Amazon has made deals with a handful of lawyers around the United States where if you use them to apply for your trademark, you get brand registry right away. We have basically stopped doing trademark applications for Amazon sellers. We’ve told sellers, don’t pay us, use the IP Accelerator program, because while you are going to pay a little bit more to the lawyers, you’re going to get brand registry right away.
Third tip. As you are now sourcing your products, diversify where you are getting products from. That’s why we talked about 8020sourcing.com. That’s why I talked about indiasourcingtrip.com. Because when you start getting your products, you don’t want to get your products from the same place. If there’s a problem in China, you want to have products coming in from India. If there’s a problem in India, you want to have products coming in from China. So you have a constant flow of your products. Diversity is business 101. And you want to diversify your products. You also want to make sure you diversify where your products are coming from.
For more information on how to build a million dollar Amazon business, call for a free consultation: 1-877-9-SELLER.
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