Breaking Down Amazon’s “Best Sellers Rank”
We talk to hundreds of entrepreneurs daily. Some are selling on Amazon, but many who haven’t started that leg of their personal journey yet. Most of those who aren’t yet selling on Amazon don’t realize Amazon will literally tell you what to sell.
Think of it from this perspective, if you can look at a product and know that it is selling well – all you have to do is go out and find that product cheaper. If you can do that, the distance between your buy price and sell price (minus applicable fees) is your profit. Amazon tells us what to hunt, all we have to do is find it cheaper and make money.