Discovery Sourcing

Today is a great day to get started on the rest of your life.

Shhh! I'm going to tell you a secret. It's just between us, okay?

I uncovered a new way to "discover" potentially profitable products. It was easy, kind of fun, and I found several new possibilities in about 45 minutes.

I searched Amazon.

There's a little more to it than that.

I picked a grocery product. Something simple like cookies or cereal. Then I clicked to search Prime only, and a price range of $20-50.

Next - I clicked on a product (rather randomly), then I clicked on the link to the seller who had the buy box.

This is where the discovery sourcing began. Out of curiosity, I scanned through one seller's store. In a few minutes, I began to notice something: great selling, familiar products with only one seller. I started taking notes. I wrote down information about products that I wanted to check the prices on the next time I go into the store, and product lines that are worth scanning. I found one grocery bundle that I already know the price on because I buy it for my family! I've already run the numbers, so it's definitely something I'm planning on testing out in my shipment.

Another thing I've discovered through this method is ideas for bundles. I really don't have any interest in stepping in on other's creative bundles (except for grocery variety packs that are easy), but I love seeing what others are doing, and how well they are doing it (by looking at ranking). This has given me a lot of food for thought. My creative juices are flowing!

This discovery method forces me to think outside the box, to consider scanning products that I've passed up, and to put a different perspective on what sells on Amazon. One thing I won't do is undercut someone's price. If I go in on a product that someone has been selling by themselves, I will match their price. That's my personal policy. If it's selling at that price, then there isn't any reason to start a race to the bottom.

Everyone is always wondering what everyone else is doing, and in truth, our products are not a secret. They are on Amazon for everyone to see! Digging around Amazon in different ways is a way to discovery the possibilities, to formulate new ideas, and to get creative. It's all right there, and it's public. It's all about noticing, paying attention, and realizing which products are available to you that you haven't thought about before, and that is what I call "discovery sourcing".