Staying Focused with Sourcing Cycles

Focus on one task at a time and get it done.

If you're like me, you've tried numerous types of sourcing, experimented in different categories, and live in a chaotic mess. My next shipment is filled with replenishables, one offs, and bundles -all from different categories. No wonder I'm tired!

I've decided to focus my energies, and organize my sourcing into cycles. A cycle can last two days or two weeks -it's up to you, but I recommend focusing for a week or two. If you're dependent on payouts to source, then your cycle might last from one payout to the next, but the important thing is to stay focused during your sourcing cycle.

Sample of Sourcing Cycles

Cycle 1 - Replenishables
Replenishables (replens) are any product that you can purchase again and again and send it into FBA. It's something that sells consistently. And it doesn't have to be grocery, or health & beauty. I have replenishables in toys, baby, home & kitchen, and office supply. Replens are not just consumables, but the kinds of things that lots of consumers buy all the time. Think outside the replen box. A lot of my replens are also multipacks.

During your replenishables cycle, you'll want to do the following things:

• Create "by store" lists of replens on Evernote. Keep it updated.
• Check your replens to see how many are in stock, how many you're selling on average, and how many you should pick up.
• Create a replens route. I have several on my list that I get from Walmart. I source at three Walmart stores. My goal is to go in, grab what I need, and get out. 
• Check on prices and reprice as necessary. 
• Review your profit margin. Determine if you should keep a replen or let it go.
• Research, source, and test new replens (test 3 to 6 and track how fast it sells).

Cycle 2 - Bundles
Bundles are complimentary items that are packaged together. I'm becoming a bit of a bundle fanatic, so I need this cycle to stoke my creativity.

During your bundles cycle, you'll want to do the following things:

• If you think of an idea for a bundle -write it down! 
• Check to see how your bundles are selling and reprice if necessary.
• This is a good time to set up advertising campaigns for your bundles.
• Research the best prices for the different items you put in your bundle. Keep a list of everything that goes into a bundle, where each item is located, and the price. 
• Write and publish exclusive information that you can include in your bundle to keep the copy cats at bay.
• Brainstorm new bundle ideas and write them down. Test at least one new bundle idea during each bundles cycle.
• Replenish any bundles that replenishable, and out of stock (or nearly out of stock).
• Source the items you need for your bundle. Think about the best, most professional way to package your bundle, and purchase the necessary supplies.
• Photography, list, prep, and pack your bundles.

Cycle 3 - One Offs
One offs are items that you generally buy just once, although you might buy more than one, but not too deep, and if the price is right. Your one off cycle is the time to hit all of your favorite hot spots and scan, scan, scan!

During your one offs cycle, you'll want to do the following things:

• Check and reprice any one offs that have been sitting on the Amazon shelves for awhile.
• See if you need to submit more details, or request a category change, and take care of it.
• Review your past one offs to see which ones did well vs. which ones were duds. Keep your successes and mistakes in mind when you go out. 
• Charge up your phone, and take an extra portable charger with you when you go out sourcing.
• If you find a one off with potential, but without a current Amazon listing, think about your time vs. the profit potential. Creating a new listing is time consuming. Is it worth it? Can you pick up 3 or more? 

Cycle 4 - Category or Store
It's a good idea to spend time focused on a specific category or store (or maybe a specific category within a certain store). For example, you might decide to venture into the Baby category. You spend time learning as much as you can in this category by scanning, researching, and testing. Perhaps you want to become a Target expert. You live this cycle in Target (on and offline). This is a dedicated time to hone your sourcing skills, explore, and discover new treasures! Don't forget to learn about sale's cycles, store discounts, and to research which stores have the best prices in your category.

Preempt Cycle
A store is closing! It's the end of the season. There are huge clearance sales going on everywhere. It's Black Friday!

A Preempt Cycle is one that preempts another. Forget bundling this cycle. There's a store going out of business. It's okay to spend your money and time on a special occasion. Just plug this cycle in when needed.

Other Cycles
Perhaps you're thinking: When am I going to search exclusively online, focus on wholesale, or go thrifting? The sourcing cycles you choose to put into your business model are up to you. A lot sellers like to go wide, and source from a variety stores, in a number of categories. The Sourcing Cycle plan is to help you focus your time and money for better results while still taking advantage of the different opportunities available in this business. There are sellers who only source online, or focus on one category, or stick to one store, or only source wholesale. You've gotta do what works best for you.

Sourcing Cycles keep me focused. I can devote all of my time, energy, and funds in one direction without sacrificing other opportunities. It's the ultimate multitasking for an FBA business plan that goes wide.

Disclaimer: This doesn't mean that when I'm out picking up my replens, and I happen to run across a toy that I can rarely find, but I know sells like hot cakes for a ridiculous ROI that I won't snatch it while I can. I've done this when I've gone out grocery shopping for my family! If you create rules for yourself, then make your self-inflicted rules flexible for those magical sourcing discovery moments.