This week’s interview is with Peter from Seller at Heart. Peter has been selling online since the early days of Ebay. If you’ve ever considering starting an Amazon FBA side hustle or selling products online, be sure to check out Peter’s site.
What’s your favorite thing about being an entrepreneur? Least favorite?
Good: Being able to say, “I bet on myself and won.” and FREEDOM. Freedom work with who I want, when I want, how long I want, where I want. Also, the challenge of turning an idea into a viable business is incredibly exciting and I also believe the quote: Working For Someone Else Won’t Get You Rich
Bad: Everything is on you. You’re always busy, you are married to the business, the entire time – 24 x 7 goes to work there is no time for family or for leisure activities.
What’s the best book (can be non-financial) you’ve ever read? Why?
George Orwell: Animal Farm. It is a commentary about how dictators rise to power. Now, 1984 is a brilliant novel, but in terms of simplicity, Animal Farm is an easier read for all age groups.
What’s one thing people would be surprised to know about you?
I know the capital city of every country in the world 🙂 Geography is my obsession.
I truly believe that learning to bounce back and learn from failure is a major key to success. What’s the best lesson you’ve learned from something that didn’t quite go your way?
Have a partner – two head are always more clever than one. Also, a partner can take care of your business when you are on vacation, with your family etc.
Your site has a lot of information on Amazon FBA. For someone who’s interested in starting their own Amazon FBA business, where do you suggest they begin?
Get your feet wet and learn by doing it. Start small, invest up to $1,000 and learn Amazon’s search algorithm. All you need is a common sense and willingness to put in about 100 work hours.
As Amazon has grown and more third-party sellers use the site, have you found it more difficult to make a profit?
It’s not easy as it used to be but still you get an access to tens of millions of buyers for the price of $40/month. Where else you can find that? Just don’t slap your logo on something everyone else can go to Alibaba and buy, don’t take less risks, spend less time and commit sell capital than on any other business and you’ll be fine.
Remember: Amazon is NOT a “GET RICH QUICK SCHEME”.
Besides selling on Amazon, what are some of your favorite side hustles?
Always the youngest one 🙂 Recently I made an App that convert your blog into Android App. In a few days I will start to market it.
Want to learn more about Amazon FBA, check out more of Peter’s work at Seller at Heart.
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