8 Amazon FBA Mistakes Sellers Make & How To Avoid Them

Amazon Sellers Mike Principi and Vova Even Share Their 8 Amazon FBA Mistakes and How to Avoid Them

Are you an Amazon FBA seller looking to avoid common pitfalls and maximize your success?

Hang tight and read on because you're in the right place. 😉

Greetings!

It's a pleasure to have you join me on my FBA blog.

Let's make it an unforgettable experience!

My name is Vova Even, and I'm bringing you another conversation, full of information, with an accomplished person from Amazon.

Today, we’ll be joined by Mike Principi.

He’s a successful Amazon FBA seller from Italy.

In this article, we’ll be talking about 8 Amazon FBA mistakes we made and how you can avoid them in your business.

Mike is my friend, and as I told you earlier, he's an Amazon FBA seller from Italy, currently living in London.

We met a while ago in Phuket, and then again in London, and today, he's here to share his wisdom with us.

We are going to structure today’s article in a way that each one of us will ask the other person about a mistake that he made, and the other party will have to answer how they made a mistake and how they fixed it and share its background story as well.

Our goal is to prepare you for what lies ahead so you don't have to make the mistakes that we did.

That has also been the goal of my YouTube channel and free Udemy courses; to help you grow and expand your business by sharing my and my guests’ experience with you.

I created these platforms just after two years of my Amazon career, and ever since then, I haven’t looked behind.

If you want, you can visit them and add more to your information regarding Amazon FBA.

The link to our video is below.

Mike Principi Intro

Okay, so guys, now you will be hearing from Mike.

Hey, man!

Why don’t we start with your introduction first before we can dig into the mistakes part? 

Mike: Yeah, sure, Vova.

First of all, thank you for having me here today.

It’s a pleasure to share this one of my favorite learning spaces with you.

I am really looking forward to sharing our experiences, and I’m sure today, we’ll be able to help sellers foresee things that they should avoid doing in the future.  

My name is Mike Principi, and I'm from Rome, Italy.

I started selling on Amazon about a year and a half ago.

I started with styling in Europe and then jumped into the US.

Roughly a year ago, I left my old job because I decided to go all-in on Amazon and other small digital online business projects.

I was in a perfect spot in my life, so I thought, if I could do it, then why not?

I love traveling around the world, and in one such expedition a few months ago in Southeast Asia, I met Vova in Thailand.

At that time, I was living in London, but honestly, my living was pretty secretive back then as I have been a nomadic person.

I have had tons of international experiences, but when the coronavirus pandemic struck, I went back to Italy with my mom. 

But I definitely am looking forward to coming back to Southeast Asia and meeting Vova and other amazing people.

Besides traveling, I'm really passionate about Amazon and the e-commerce market, as well as other different online business models, and I really live for that.

So, that’s me in a few words. 

Vova: Thank you for introducing yourself to readers. I remember we met in Phuket, and it was a really interesting meetup.

I find it encouraging that you're passionate about entrepreneurship and online business because that's something that connects us with the entire international community.

In this internet world, there is no dearth of opportunities to earn online.

People can earn through YouTube, Udemy, and many other sources, not to mention Amazon – the most amazing source of online earning.

The pandemic truly pushed us to corners.

I am a nomad as well, and every now and then, I visit Asia, Europe, and other parts of the world, but the pandemic has really stopped our movement.

I am really glad that things have been improving now. 

Mike: Yeah, I am also optimistic as far as travel restrictions around the world are concerned.

I think maybe one of the coolest memories I have about selling on Amazon is living a nomad life and managing my business from the phone screen.

I would be in Thailand or Vietnam and still pay my supplier in China and do other things related to the business.

So that was very adventurous for me.

Vova: Well, that’s the fun part of it, isn’t it?

You enjoy your life, travel, and spend time with your family while constantly growing your business.

It used to be my dream as well, to be a digital nomad, as I call it.

And it came true when I left my job and became a full-time Amazon seller in 2017.

Ever since then, I have loved how everything has turned out to be.

Mike: I totally agree with you, Vova! My reason isn’t much different from yours.

I got into the online business market because I dreamed about having international experience, and joining Amazon and establishing a successful business there really helped me achieve my dream.

Now, I am flying almost everywhere – be it Europe, Asia, the Caribbean, etc.

I am always excited to take a plane and fly anywhere when I feel like relaxing and giving myself some time.

Vova: I like that we share our love for traveling other than Amazon.

It’s great to have such a kind of friend!

Mistake #1

Anyway, let’s now start our today’s discussion on mistakes that we made on Amazon at the start and how other sellers can avoid them.

So, as you said that you left your job and went all-in on Amazon, I wanted to ask that once you went ‘all-in’ on Amazon, what kind of mistake did you make at the very start?

Mike: That’s a good starting question, Vova.

I think I have learned that if someone wants to start their career on Amazon, they should have a good grasp of the fundamentals of starting a business on Amazon.

I had one advantage when I started my Amazon career after quitting my job, and that was I had seven months of experience in selling in Europe, as I was living there.

But, I think my mistake at the start was, I was slow in advancing and growing because my risk appetite wasn’t strong.

I believe there was a time in the start when I had the best moments where I could have gone ‘all-in,’ but I didn’t, and I think that was my mistake. 

My product, as you know, Vova, isn’t complicated.

It is a product that can be easily expanded in terms of variations and opportunities.

After a year and a half on Amazon, I have realized it takes a lot of time to bring a product from conception to reality.

First, you start with product research, then comes sample modifying and negotiating with suppliers that usually number up to three to five, and I guess that this whole process takes six months.

I now realize that I should have continued my job a bit more.

I had a really good job in London, and I was living comfortably, besides saving a lot of capital and running an online business.

When I started on Amazon, I feel that I should have invested more than I actually did.

All the worries that I had at the start were unnecessary, which eventually hampered my growth. 

Therefore, if someone wants to start selling on Amazon and avoid the mistake that I made, they should invest more if they are able to do so.

I had a good job in London, so investing an extra few thousand pounds wouldn’t have been the end of the world.

But I regret that I did not.

So, if you can afford to invest extra, please go for it to save your regrets for later. 

Vova: I see, Mike. So let me summarize what you said in a few words: when you started going all-in on Amazon, you could have invested strongly in the start, but you chose to go slow, and now in retrospect, after a year and a half, you have realized that it was your first mistake. 

Mike: Yes, absolutely, Vova. Looking back at the past, I really think I should’ve invested more, and that wouldn’t have been a waste of money.

But still, thankfully, my business grew bigger with time because my product analysis was good.

I learned this after one of my products failed, so that might be another lesson for sellers; do your analysis right if you want to succeed on Amazon.

Take the right precautions, check the market and product, and when you make up your mind about a product, you can go all-in on it.

Vova: Well, that’s really a good point, Mike.

Thanks for bringing it up.

Now, let’s see what you have got for me.

Mistake #2

Mike: I actually had a very interesting question to ask you, Vova.

But first, I wanted to confirm with you if asking about partners/partnerships would be okay for you.

Vova: Yeah, man, of course! You can ask about anything.

Mike: I wanted to ask that since I myself started with a business partner on Amazon almost two years ago, I know it is not without some challenges.

We worked together for a couple of months, but after some time, it became very challenging to manage.

I have observed that it's very easy for things to go wrong when you put a lot of money into a business with someone else.

So, Vova, if you had ever partnered with anyone, how did you manage that?

Vova: That’s an intelligent question, Mike.

First of all, you are absolutely right that it's never easy to manage things when you have partnered with someone else on the basis of a business or money.

Different minds have different ideas, and often, these ideas come to clash with each other, making a relationship weak if not addressed properly.

Me and my partner have been together ever since we started on Amazon in 2016, and it has not definitely been a smooth drive.

Rather, I would say selling on Amazon is a rollercoaster ride – sometimes, you are up, and then, in no time, you will be down, or left, or right. 

As far as mistakes are concerned, I always believe that relationships are challenging, for sure, because there are always two sides.

That’s why I am not sure whether the mistakes that took place in our business were mine only or whether they were mutual mistakes.

What transpired actually was that initially, we worked really hard, and as a result, our sales increased, and our lifestyles changed magically.

In that period, we helped each other pick up the pace and achieve more and more success.

However, when we started celebrating our success and started having parties and all the fun, we kind of dragged both of us down.

We weren’t doing as well as we were at the start. 

I would suggest to sellers that before they partner with someone, they should first know who they are getting into business with.

If they are seriously considering someone to take them as a business partner, it is important to have some ground rules, priorities, and knowledge of their background.

It is essential to know these things because you will be with them for a long time.

Amazon is not a get-rich-quick scheme that will only take you up in the matter of a few months – you will obviously see some downs, and your partner should know how to handle failures as well. 

Frankly speaking, our biggest mistake was we became lazy.

What happens in these business relations is when one side becomes lazy, the other side is automatically injected with a heavy dose of laziness.

That’s why I always say that you should inject each other with only positive things – motivation, energy, sympathy, etc. 

Besides initial hiccups, we quickly recovered.

As a solution, we decided to divide the workload because by then, we knew our strengths, so we thought to capitalize on them.

I was strong in leading the communication side of the business, so I took that responsibility while my business partner performed great with numbers, so he took the analytical side of the business.

For example, he manages our Amazon PPC campaigns and other stuff like that where I don’t have experience.

So, that’s how we have been working, and it is going pretty well!

Mike: I think your answer will definitely help most of the people who are either working with a partner or planning to do so in the future.

I know some of these people personally who want to start selling with partners, and I’m sure they would really benefit from whatever you said above.

Vova: Thank you, Mike.

I think most of the sellers are lone warriors on Amazon, but then I guess, at the end of the day, it depends upon one’s personal choice.

There are certainly some pros and cons of business partnerships; while sole entrepreneurship offers you the power over everything, freedom to grow your business on your own terms, and decide everything – from product to packaging – a shared business or business partnership takes some burden off your shoulders and allows you to focus on one aspect of the business.

If this is the case, I would prefer a business based on a partnership rather than going alone. 

Two minds leading a business are definitely better than one because, in this way, one person can focus on, let’s say, the numbers while the other person leads all the communication, which is the case in my business.

I and my partner are a great match.

We don’t have big conflicts, but still, sometimes we have to talk about packing, this or that thing to get it done.

Overall, it’s been a completely worthwhile experience.

Mike: Yeah, it certainly looks like an amazing experience, looking at your success! 

Vova: Absolutely, and thanks! Anyway, now it’s my turn to ask you about a mistake in your Amazon business.

Mistake #3

So, can you tell us about any mistakes that you might have made with Amazon reviews?

Mike: Yeah, sure. There are definitely some mistakes that I would like to bring up here.

In the beginning, I was relying too much on friends – friends of our family and the family of my friends.

I was under the impression that the beginning matters immensely, and if you can make your beginning impressive, then success follows easily.

That’s why I and my partner started relying too much on our friends and family to get reviews because we thought that would be enough.

In hindsight, I can say confidently that even if you manage to get 10 or 20 reviews, it’s not enough.

You need as many reviews as possible to keep your product on Amazon alive.

Sometimes even if people manage to get your product for free.

Then these people say, “yeah, sure, brother, thank you for the free product, I’ll leave you a review, for sure!”.

But here’s the truth: sometimes, they leave you only expecting a review, which never comes. 

Another issue is you don't really want to annoy people by repeatedly requesting reviews.

In fact, that’s the last thing a seller can think about.

Whether it's your brother, girlfriend, friends, or friends of friends – they all are going to be bothered if you keep returning for reviews.

So, it’s a mistake that I made, and I don’t want other sellers to repeat that.

We should see things from others’ perspectives as well and know how we can actually help them with our product rather than demanding fake reviews.

And the second thing you should really focus on is having a system to get in touch directly with customers because that's going to be the life changer for your business.

This helps you in manifold ways, including getting reviews without even asking for them.

I think it's one of the simple things that impact your business in a positive way.

I didn't do this enough, and as a result, I was very slow in getting reviews.

Now, when I look back, I can think of 1 million different strategies to have those people get in touch with me and receive many reviews. 

Vova: I see, man, and I agree with what you said.

Having a system for reviews is essential, and relying too much on your friends and friends of friends doesn’t work as you might expect it to.

In the start, reaching out to people first feels very time-consuming and annoying, but in the long run, these strategies really help you out.

A good tool for getting reviews on autopilot is the Seller Assistant extension by the Helium 10 set of tools.

Mike, thank you for your input, man!

Mike: You are welcome, Vova.

Mistake #4

Now I have a question for you: have you ever listened to something from a YouTuber and blindly applied it in your business, only to regret it later?

Have you ever made a mistake like this?

Vova: Now, that’s an interesting question!

I think I have always saved myself from such blunders, thanks to my mentors and my seller instincts.

So I can’t think of any such mistake right now.

But Mike, maybe you can share your mistake with us, and in the meantime, I will catch up on something from my memory.

Is that okay?

Mike: Yeah, sure!

Okay, so as I mentioned above that I had started selling in Europe, and in the start, I had committed some kind of mistakes that I wanted to ask you about.

I used to listen to a lot of American and international Amazon sellers on YouTube and mistakenly applied their strategies to my own business, which was not right and backfired in the end.

They were telling strategies that might suit their local markets, but apparently, they never worked in the European market. 

Basically, what I was doing was copy-pasting their PPC strategies for my business which made no sense at all, and in just one week, I lost lots of money.

So, that’s something I can remember about mistakes that we made under the influence of another seller. 

By the way, here's something that Amazon sellers absolutely must do before turning on PPC on Amazon.

Vova: Okay, so I think I can answer your question now.

When I was getting started on Amazon, I didn't understand that I needed to sell products to people.

I didn’t understand there was a market I needed to focus on.

I thought when you get a product with big numbers on Amazon, that would be the end of your struggle.

However, now I understand that there is actually a market/niche that you need to laser focus on.

I didn't know that you needed to understand who you're selling to, what their problem is and what solution you offer, and what language they speak.

I would admit that that was my biggest mistake because my first product was not a massive success.

But now, I do my own copywriting, which I learned with time.

My strategy was simple: I was selling the features of my product.

My first product on Amazon was kitchen scissors, so I was totally emphasizing its features like sharp blades, sturdy handles, etc.

I thought that maybe kitchen scissors were actually bought by moms or by families.

That’s why I included moms/family pictures in my listings; however, I gradually learned that that’s not all.

Almost all sellers were telling me that if numbers are good, just jump in and start selling – an incorrect advice that I actually acted upon. 

But once I understood my market and what people actually needed, I started getting higher conversion rate on Amazon, more sales, and of course, more money. 

I hope that answers your question, Mike.

Please let me know if you want me to talk more about it. 

Mike: That won’t be needed, Vova. I think you presented your mistake really well! 

Mistake #5

Vova: That’s great. Now, Mike, as you know, customer service is a very delicate part of online business.

Can you tell our audience about any mistake that you made in customer service?

Mike: There is a small mistake that I made in customer service.

In one of my products, I had put the wrong link to ask for reviews, and I didn’t know about it.

What’s more interesting is that link was there for a few months, and I didn’t even know about it!

Because of that, I was really missing out on getting reviews.

I had started wondering why I ain’t getting reviews, and then I got to know about this.

The bottom line: be extra careful with your links. People don’t care about your reviews too much.

They are not going to reach out to you to tell you that the link is wrong.

If they get the wrong link, they will simply ignore it and move on.

Also, they will be reluctant to open your ‘sorry’ message with another link.

So, it was a really unfortunate mistake but also a funny one. I hope sellers can learn from it. 

Vova: I think it’s a kind of warning to all sellers on Amazon out there – you HAVE TO set your links right!

But that’s not all.

After setting them up, you need to constantly check them to ensure they are working okay.

There are many links on YouTube and blogs that expire with time or simply break, leading you to a difficult situation where you are not getting many reviews or viewers.

So sellers, take notes!

Mike: Yeah. Although Amazon does offer some great services in this regard, you have to play your part as well.

You cannot rely on others. So, don’t forget to keep checking your links and make sure that everything is going right. 

Mistake #6

Anyway, Vova, I would now like to take you on the technical side of the business.

Have you made any mistake with taxes, like perhaps you paid more than you should have or any other mistake related to taxes, etc.?

Vova: Oh, yeah. I actually have one mistake that I would like to share.

When I started earning a sufficient amount of revenue, I received a bill from the Bituah Leumi of Israel (certain type of tax in Israel) in which I was told to pay a certain percentage of taxes from my revenue.

I was totally caught off guard because the amount was really massive; I was like… WHAAAAT?! 

But then I got to know that it was a law that everyone had to comply with.

It was surprising and a little disappointing for me because I had not taken that into consideration.

I was happy that my revenue would be great at the end of the year, but then, it was not to be as according to law, I had to pay these specific taxes.

I am still paying it, and comfortably so. It’s not like I have any issue with it. It’s part of my expenses now.

But I just want to put it out that when anyone is getting into any sort of business, they should check in their country if there are any specific tax requirements or something like that.

It’s important because these numbers have to go on your expenses/revenue sheet. 

Mike: That’s right, Vova! In the beginning, I guess rarely anyone is fully aware of or takes into notice certain laws or rules and regulations, but when the time comes, a seller is surprised because they have to pay for something that they hadn’t considered. Something of the sort happened to me in Europe as well.

Vova: Exactly. I agree with you. Each government has its own set of rules, and they take whatever they deem fit according to the laws of their land.

Another thing I wanted to suggest to sellers is you have to find ways to cut expenses.

You have to find out efficient ways to spend on your business that eventually increase your profit and don’t generate more business expenses.

One way to do it is to check in your country every law that might relate to your business.

See how much it is going to cost you, and then plan accordingly. 

Mike: Yeah, definitely. And now that I have established a sound business in the UK, I know these little complications that might surprise you in your journey.

Thank God, I have started to get it right now, and I am also happy that the United Kingdom is a business-friendly country, so I don’t have to pay an unfair amount of taxes. 

Vova: That’s good, Mike. And do you know what was more surprising for me back then?

It was that I had been living in Thailand for two years and was rarely visiting Israel, and yet, just because my business was being operated from Israel, I had to pay these taxes.

I am still running my business from the same country, but now I have been looking for ways to move it to another country. 

Mistake #7

Anyway, Mike, it’s time I present you with a question, so here it is: did you make any mistake with the cash flow on Amazon?

Mike: The answer is yes, and that mistake dates back to the first 3-4 months when I had just started my business.

Before starting my first product, I probably hadn’t read a single line about how Amazon pays you as a seller.

Vova, you would know about the payout time from Amazon. It takes a while to get funds for the sales you've made.

I made two mistakes at that time; first, I totally ignored this timeframe because, honestly speaking, I had no idea about it.

And second thing, I screwed up my PPC.

I had just started to manage things well after so many failures, but back then, I found myself in a situation where my sales were like WOW, and yet, I wasn’t making any profits.

Also, we thought that we'll get the money from Amazon to pay for our next order of the products, but because of the payment time frame, we did not have the money on hand.

One more thing, I am negotiating terms with suppliers, and looking for new suppliers from time to time, with the goal of cutting expenses.

Vova: Interesting, thank you for sharing.

To add to what you've said, we were recently speaking with Andri Sadlak, who also recently made a nice exit from his Amazon business, so we discussed all kinds of things.

We spoke about seven ways of making it through these uncertain situations, and one of these ways was cutting your expenses in any way possible.

You can renegotiate terms with your supplier.

They are also human, so they will understand if you explain them.

I will give you an example: suppose your packing costs you 20 cents, but you can negotiate with your supplier to make it 10 cents per unit.

I know it doesn’t sound like much of an amount, but if you are ordering 20,000 units, do some math, and you will know how much you will save!

Mike: Exactly! And yeah, until you don’t find a trustworthy supplier, you have to listen to your doubts and act accordingly.

You don’t have to trust your supplier fully and believe everything they tell you.

Just keep an eye open because there are always a few little things that some suppliers don’t tell you, and only you have to take care of that.

For example, last summer, as you know, the Chinese Yuan wasn’t doing great here, which was very bad for China and Chinese suppliers.

Therefore, I was able to negotiate better terms with them in order to cut my expenses and increase my profit.

I was only able to do that because I knew about what was going on around the world; I am used to keenly listening to the financial news and following up on new developments, so it gives me the opportunity to broaden the conversation and talk with the suppliers confidently. 

There also is a nice book called ‘Profit First’.

The book talks about restructuring your cash flow accounting system in order to increase the operational efficiency of your business, so sellers should read that too. 

Vova: Thank you, Mike, for bringing these technical points into the conversation.

I will try to link that video and book in this article so that our readers can access them quickly and learn. 

Mike: Yes, that will be great! I think it’s important in the beginning to calculate how much budget you need for your first order in order to see how best you can manage things.  

Vova: You are right, Mike, and maybe aim for a higher Return on Investment (ROI).

Sellers must learn this parameter as well because if you have a higher return investment, you can quickly get into a situation where you can profit and reorder more which will be really great. 

Mike: Absolutely. If a person has a good grasp on these couple of metrics, they don’t need a degree in business management.

Understanding a few things about financials will help you get started with your business and run it with flying colors. 

Having said that, I wanted to ask the last question.

Mistake #8

This may be a little off the topic, but have you ever committed a mistake that made you disappointed and frustrated enough that you started doubting your FBA and actually thought about quitting or starting things over?

Vova: That’s an interesting question, and guess what, I have an interesting story to share in response.

The simple answer to your question is not really.

There haven’t been major incidents that might have broken my spirit.

I mostly stood firm in my commitment through various difficulties that came my way at the start, so I guess that’s why it all turned out pretty well.

However, few people know that I joined Amazon FBA after failing at other businesses.

I tried running building Instagram channels and doing Periscope Lives.

I also gave a little try to selling online stock photos, and when these things didn’t work out well, I and my business partner decided to invest in other businesses.

We tried opening a gym wear company with another friend of ours, which never went anywhere.

After some failed attempts, we opened a sunglasses business online, which also failed, and I have a funny story connected to it.

You see, businesses like these need a website so that we can reach out to customers around the world.

Hence, I spoke to someone from Israel on the Internet and talked to him about creating a website for our business.

We decided to meet up at an address that he provided, and on the scheduled date, we reached there.

When we entered the building and tried finding the room the developer had told us about, we didn’t find anything.

After asking residents, we found out that there was no such room in the entire building! 

When I called him, he was talking in a sleepy voice and told us that he was sending someone.

We were expecting that he would be a professional and have an office, but it turned out it was none of that.

So anyway, that sunglasses business also died out with the passage of time.

The moral of the story: failed experiences aren’t there to stop you, but rather elevate you emotionally, mentally, and physically to be more mature and wise to garner success in your life.  

Mike: These are the words to live by, Vova!

But tell me about that website incident.

What happened then, was it a prank that the developer pulled on you, or was he just an unprofessional fellow?

Vova: I don’t know, man.

Their company looked very legit over the internet, there were lots of websites on the company’s website that they had previously created.

So I had no idea that it would turn out to be a strange experience. 

But I think it happened for good, as once we started selling on Amazon, there was no stopping.

I told my partner that it was the right time we start doing something meaningful.

We had wasted our time, money, and energy somewhere else, and now, when we got to know about FBA and Amazon, we got really interested in it.

We bought some courses and webinars and started learning about Amazon, and within the next few months, we launched our first product.

I was doing a lifeguard job at that time, but still, I put my mind to the business and tried to grow it as much as I could, and now, here I am, an Amazon seller, and a blogger in this sphere.

So again, though there were a few difficult points in my life, I never wanted to quit and give it all up.

I was reading many books on entrepreneurship at the time, so I knew it was never going to be a smooth ride.

I had set my mindset right. I knew I was there to play a long game, and I knew the ‘why’ behind my actions.

I had clarity in my mind about what I wanted to do and how I wanted to do it, which became more and more clear as the years went by. 

There was a freaking weird thing that happened in my Amazon business in early 2017.

I received my first negative review on my first product, which was kitchen scissors.

The review was harsh.

Our sales dropped dramatically.

I learned my lesson from it and recovered quickly.

It’s not like I don’t receive any negative reviews now; I mean, it's foolish to expect that if you have 100 reviews, all of them would be positive, containing five stars.

But I now try to provide good customer service and good quality products to mitigate that number of negative reviews to the least possible number.

I did feel kinda bad, but to answer your question, it, too, didn’t stop me from chasing my dreams.

Mike: It’s really inspiring, man! Thank you for sharing your story, I’m sure many would be motivated by your failures and successes. 

Vova: Thank you, Mike, for asking that interesting question.

There are many more funny stories attached to my journey, but I guess I will save them for another time.

The reason I tell my personal experiences is to let aspirant sellers understand that if they are thinking about starting on Amazon, they have to adopt a realistic approach, and by that, I mean just put yourself in for some time without expecting major success.

There will be failures, and there will be successes, but you have to go on no matter what happens.

Mike: I agree, Vova. Persistence is one of the keys to success on Amazon.

You need to have a positive mindset to cope with all the troubles in your business.

I believe when we start seeing failures as opportunities to learn, we will definitely succeed!

Vova: These are very inspiring words, man!

People should not be discouraged by failures but always perceive them as opportunities to learn and improve.

We get only one life, so why not try?

Closing Notes

Lastly, Mike, is there anything else you'd like to share with us? Maybe something from your wisdom might help our readers.

Mike: Well, I'm not much of a guru, Vova, so I will save the audience some philosophical talk, but I really believe we have shared some of the very fundamental aspects of running Amazon business here in this article, along with our mistakes.

I don’t only hope, but I am certain that your readers will extract great help from these things. 

In addition to that, I believe there are a lot of opportunities for growth while working online, and it's never inferior to any brick-and-mortar store.

I think the business concept is changing these days, and online businesses are getting more recognition.

Take me as an example. I was working an ideal job in London, UK, but I left that for Amazon, and I have no regrets.

In fact, that’s one of the best decisions I have ever made in my life.

I don’t claim to be a successful entrepreneur or a millionaire, but I do enjoy what I am doing. 

There are days when you will feel like you are not making any progress, but as long as you are there and pushing bit by bit, believe me, you will enjoy the outcome.

I enjoy learning so much that I am always looking for errors.

That’s why, if you stick with this positive mindset, it will be your perfect entrepreneurial school.

The good thing about Amazon is you don’t need a lot of capital to start, so you can afford big mistakes, and the bigger the mistakes, the better and more effective the learning will be. 

After Amazon, I started meeting people who gave me big ideas and inspired me in more than one way.

So, all in all, I think if you have such people around you and have a kind of entrepreneurial attitude or at least you are curious to learn, then it's a great way to start, and then from there, you can go anywhere you want.

Vova: Thank you for sharing your time and words of wisdom with us, Mike!

It was really a pleasure to have you here today. And yeah, I agree that Amazon is a great business opportunity, even if you're trying with a low budget.

If you want to try with $1,000, it's a good way to learn to get that entrepreneurial experience and get your feet wet.

Realistically, for Amazon FBA, you'll need more than $1,000 to get going, and a consistent flow of money to grow it, but it is possible to start at least with 1k$.

Also, I'm not saying you need to start your business without any prior research straightaway.

If you have previous business experience, that would be an advantage, but even if you are an inexperienced fellow, you can still go ahead and start an Amazon business.

It was my first business that actually got me success.

I started kind of slow on Amazon, so my business isn’t an overnight success but is the result of years of hard work.

However, people who may have been in business for years know the terms – ROI, margin, etc. – which I never knew they would have a great advantage, and they can even start with a $20,000 or $50,000 investment.

Inexperienced people can start with a lower amount, depending on the affordability.

Anyways, thank you again, Mike, for your time today. I really appreciate it.

I am attaching links here in this article through which you can reach out to him.

He’s an Italian seller and one of my good friends.

Here's Mike's LinkedIn.

I am sure you must have learned some valuable lessons from whatever he shared with us today.

Honestly speaking, this is one of the most memorable conversations I have had with my guests here on this blog.

I really enjoyed sharing my story and listening to yours. I wish you a great life ahead, man!

Mike: It means a lot to me, too, Vova. I can’t wait to join you on another topic of discussion soon!

Vova: Likewise, Mike! I will definitely have you here again soon! 

Off we go!

But before I sign off, let me remind you that you can enjoy reading more insightful and thought-provoking conversations on Amazon FBA here on my Amazon seller blog, so please go ahead if you want to read them.

Yours, 

Vova :)