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- #2
4th March 2018 Update
Here's what I've been doing since my first post.
Yes I know that selling on Amazon is sacrificing control and the barrier for competitors to entry is low but my strategy goes beyond just Amazon.
Now that the ball is in play and I'm getting on the field rather than just watching from the sidelines it feels great. Let the games begin!
Here's what I've been doing since my first post.
- Researched several Amazon courses, forums and strategies.
- Got set up with a US debit card to make purchases online.
- Established an US receiving account for Amazon US payouts.
- Established a FX facility for cheaper transfers (0.5% rather than the normal bank rates)
- Investigated the pros and cons of establishing an LLC in the US for setting up a bank account and asset protection.
- Investigating the sales tax laws in the US and nexus and what, why and how I might have to deal with that.
- Researched options for prep and ship within the US.
- Decided on using online arbitrage to get started.
- Found myself some Amazon seller mentors who are already doing this successfully.
- Subscribed to a closed daily list of good buys.
- I have ordered my first $500 batch of inventory for my Amazon store in the last 2 days.
Yes I know that selling on Amazon is sacrificing control and the barrier for competitors to entry is low but my strategy goes beyond just Amazon.
Now that the ball is in play and I'm getting on the field rather than just watching from the sidelines it feels great. Let the games begin!