In this episode, we sit down with Sebastian Herz, Co-Founder of Zignify to explore the innovative world of product sourcing.
We explore the key metrics that are essential for evaluating product profitability, providing insights that can help sellers make informed decisions. The discussion also highlights the significant benefits of focusing on niche products and how this strategy can lead to greater market success. we discuss how sellers can effectively negotiate payment terms and shipping costs while being mindful of the potential risks involved in product sourcing. Whether you’re a budding entrepreneur or an established seller.
He shares his expertise in global product sourcing and negotiation with suppliers. Sebastian has over 12 years of experience in the industry, having worked for ABB and living in Asia. He started his Amazon business in 2014 and founded Zignify Global with his wife Julia.
He highlights the challenges of finding the right product and supplier in the competitive Amazon market. He advises conducting thorough research and using tools like Helium 10 and Jungle Scout to analyze products.
Sebastian encourages entrepreneurs to start their Amazon businesses independently to gain hands-on experience and reduce costs. He estimates that initial investments for product development can range from a few thousand to tens of thousands of dollars, depending on factors like product complexity and quantity.
Overall, Sebastian’s insights offer valuable guidance for anyone looking to start or grow an Amazon business. By following his advice on product sourcing, negotiation, and investment, entrepreneurs can increase their chances of success in the competitive e-commerce market.
