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☆ I started an e-commerce business with $5,000 up front after writing about financially independent Amazon sellers. Here's how I doubled my budget.
▼ + stars: | 2024-10-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Inspired by successful e-commerce entrepreneurs, I decided to try my hand at selling on Amazon. I set a budget of $5,000, enough to launch something basic and an amount I was comfortable losing. These conversations got me thinking: Is starting a profitable Amazon business … simple? We'd been toying with the idea of starting an e-commerce business since the spring of 2023, when I mentioned one of the Amazon stories I was working on. Double the founders would mean not only double the budget but double the skillset and the network.

Persons: —, Shan Shan Fu, Joe Reeves, Fu, Reeves, I'd, wasn't, we'd, We'd Organizations: Service, Venice Locations: Los Angeles, New York City

☆ 3 Amazon sellers who got started with less than $5,000 share the strategies they used to scale from zero sales to six-figures
▼ + stars: | 2024-01-13 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

If you're looking for an extra income stream, selling products online is one option. Courtesy of Sahaj DhingraDuring the summer between his sophomore and junior years of college, Sahaj Dhingra did $100,000 worth of Amazon sales in three and a half months. One strategy he implemented about a month after launching helped him scale quickly: He started listing products before buying the inventory. Shan Shan Fu used Etsy as a testing ground for what would sell best on AmazonShan Shan Fu, founder of Millennials In Motion. Courtesy of Shan Shan FuShan Shan Fu sold enough socks and tights on Amazon that she felt comfortable leaving corporate America to work for herself.

Persons: Sahaj Dhingra, Jatin Naran, Jatin Naran Jatin Naran, Naran, Fu, Shan, Shan Fu Organizations: Business, Costco, Amazon, Google, Millennials Locations: College, Dhingra, London, America

☆ An Amazon seller who brings in up to $53,000 in monthly revenue says 20% of her products do 80% of the sales. She shares her biggest product flops and what she's learned from the failures.
▼ + stars: | 2023-11-13 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

E-commerce business owner Shan Shan Fu makes a living selling products on Amazon . In October 2023, she did $53,000 in sales, which Insider verified by looking at screenshots of her Amazon dashboard. When I launched the pickleball product, it was instantly a super low ROAS, under 1.0." Fu estimates that of the 30 or so new products she launches per year, 20% of them do 80% of the sales. But she skipped this step with the pickleball product, she said: "I kind of just got delusional and I thought, 'People like pickleball.

Persons: Shan Shan Fu, Fu, they're, She'll, Fu doesn't, there's Locations: ROAS

☆ All smoke and no FIRE: Early retirees open up about the struggles of ditching their paychecks in exchange for freedom and the new ways they're generating extra income
▼ + stars: | 2023-09-13 | by ( Laila Maidan | Kathleen Elkins | ) www.businessinsider.com time to read: +14 min

Members pose questions from how to save and invest to how to raise a family while on the path to early retirement. Early retirement doesn't mean never working againBut the FIRE movement can be more smoke than fire. Think about what's important to you and what you want your lifestyle in early retirement to look like, Cheng said. One message he shares with his community is that early retirement may not be the ultimate finish line for everyone. He also started coaching high school tennis and grew his online blog that offers tips on early retirement.

Persons: Rachel Covert, Isaac Mizrahi, Covert, That's, subreddit, Gwendolyn Merz, Merz, She'd, Marguerita Cheng, Cheng, It's, Michael Quan, Quan, Winnie Jiang, Sam Dogen, Dogen, Sam Dogen Dogen, Shan Fu, Fu, I'm Organizations: Financial Independence, Social Security, Lean FIRE, FIRE, Fortune, Bureau of Labor Statistics, Credit Suisse, Millennials Locations: NerdWallet, New York City, Mexico, Portugal, Asia

☆ Amazon sellers and experts weigh in on how to pick a good product to sell online: 'Sticking to durable goods is the way to go'
▼ + stars: | 2023-07-29 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

If you're thinking about starting an e-commerce business, you need to first pick a product to sell. That's essentially what Reeves did when he first started selling wallets. Another pro tip from Walter: Consider selling products that are durable — things that likely won't break in transit. Plus, you'll have an advantage if you're selling a product you understand well and use personally. "Looking around at your own life and your own day-to-day is a good way of coming up with product ideas."

Persons: Joe Reeves, Shan Shan Fu, Tyler Walter, Walter, That's, Reeves, Fu, Joe Reeves Walter, that's Organizations: Walmart Locations: Walter

☆ E-commerce entrepreneurs who are earning money selling socks and wallets on Amazon share their top strategies, including how to find a product to sell and how to get ranked higher
▼ + stars: | 2023-03-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Anyone can set up a seller profile on Amazon and start listing products to make some extra cash. One, you need to find a good product to sell, they said. Insider has spoken to successful Amazon sellers who took very different approaches to building and scaling their companies. To find them, she uses an analytics platform for Amazon sellers called Helium 10. Improve your Amazon ranking with a good listing, strong reviews, and smart advertisingRanking high on Amazon requires a couple of things.

☆ How to earn more money and increase your income through side hustles, according to 5 early retirees and entrepreneurs who have done it
▼ + stars: | 2022-12-10 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Insider spoke with entrepreneurs and early retirees about the lucrative side hustles they started. Below, Insider rounded up various side-hustle ideas from entrepreneurs and early retirees who found ways to diversify their income. Shan Shan Fu started selling face masks on Amazon and turned it into a robust e-commerce businessShan Shan Fu sells socks and tights (including the ones pictured) online. Courtesy of Shan Shan FuWhen the Covid-19 pandemic sent the US under lockdown in the spring of 2020, Shan Shan Fu had a lot of free time after work. She launched her e-commerce company, Millennials In Motion, in April 2020 and immediately started making money.

☆ A conversation with Shark Tank's Kevin O'Leary on FTX, Sam Bankman-Fried, and crypto regulation.
▼ + stars: | 2022-11-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Top of mind, inevitably, was last week's implosion of FTX, as O'Leary was a spokesperson and investor with the exchange. It was our third conversation together, and O'Leary shared candid thoughts on his FTX investments going to zero, as well as details from a phone call he had with Sam Bankman-Fried just before FTX declared bankruptcy. O'Leary, a paid spokesperson for FTX, said he had initially gained trust in the company and its 30-year-old CEO, Sam Bankman-Fried, a little over two years ago. The Shark Tank star told me that he was on the phone with Sam Bankman-Fried the day before FTX declared bankruptcy to discuss a price for potential buyers to rescue FTX. "He confirmed that it was $8 billion, and that's the number I took forward," O'Leary explained.

☆ An Amazon seller who brings in over $42,000 per month in revenue says '20% of my products do 80% of the sales.' She explains how to pick a good product to sell online.
▼ + stars: | 2022-11-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Amazon seller Shan Shan Fu sorts through specific metrics when choosing a product. "I needed to find a sustainable second product," Fu told Insider. While selling face masks may have been a stroke of luck, Fu didn't simply get lucky with her current products. Courtesy of Shan Shan FuShe also uses Helium 10 to look at how much revenue competing products are doing. Of her 20 products, she'll take the top four to five and launch them on Amazon Prime.

☆ Meta let go of 11,000 employees, and it's not clear which divisions and roles were most affected
▼ + stars: | 2022-11-13 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

Go inside big banks like Goldman Sachs and other power players in finance with our daily newsletter 10 Things on Wall Street. Find out what's going on in the markets and crypto with our weekday newsletter 10 Things Before the Opening Bell. Shock and anger at MetaDrew Angerer/Getty ImagesMeta let go of 11,000 employees this week, the first mass layoff in the company's 18-year history. And it's not clear which divisions and roles were most affected — even to thousands of shell-shocked employees who remain at Facebook's parent company. For more on the Meta layoffs:How a crypto kingpin went downSam Bankman-Fried, founder of crypto exchange FTX.

☆ How to start an e-commerce business with less than $2,000 upfront, according to a 34-year-old entrepreneur who does up to $42,000 a month in Amazon sales
▼ + stars: | 2022-11-10 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Fu believes that anyone can start a successful e-commerce business with less than $2,000 upfront. The 34-year-old entrepreneur believes that anyone can build a profitable e-commerce business with less than $2,000 upfront. Watch 200 educational e-commerce YouTube videosThis is exactly how Fu learned the ins and outs of running an e-commerce business. At this point, you've learned the basics of running an e-commerce business and have made sales on Poshmark and Etsy. Starting an e-commerce business as a side hustle is probably the most risk-averse way to do it, she said.

☆ A 34-year-old entrepreneur earns up to $42,000 in revenue a month selling socks and tights on Amazon. She explains how she built her e-commerce business with $2,000 upfront.
▼ + stars: | 2022-11-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +12 min

After six months of selling masks, she was earning enough from her own business that she felt comfortable leaving her day job. After she decided on her product, face masks, her next immediate step was to buy inventory. "Through our network, we found some factories in Asia and got the face masks to my door within two weeks," said Fu. After six months of working both jobs, she was making enough money selling face masks to cover her bills. Earning up to $42,000 a month in revenue selling on AmazonFu decided to lean into what was working: selling socks.

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