Overcoming Failures in eCommerce with Kristin Ostrander
Kristin Ostrander’s bio
Kristin Ostrander is a serial entrepreneur, podcaster, and speaker. She is the founder of MommyIncome.com and the host of The Amazon Files podcast.
Kristin’s journey that led her to start her business
Kristin started her business journey after she got married and became a mom. By then, she was working opposite shifts with her husband, and she could leave her son with her husband to go to work.She felt that she didn’t want to be away from her family as a mom and a wife.
This led her to the thought of starting a business where she could work from home. To listen more, go to [01:26]
How she began retail arbitrage on Amazon
After starting her selling business on eBay, where she was selling items from her house, she later realized she could also go to discount stores and get other things that people were looking for online. In 2008 she discovered Amazon and started doing retail arbitrage. To hear more about retail arbitrage, go to [05:55]
What led her to venture into wholesaling As Kristin grew in her business, she realized that it was difficult to scale up her retail arbitrage because of the work involved in shopping for inventories.
The time involved in shopping for inventories kept her from her family, which she didn’t like. This made her move to the wholesale business. To listen more, tune in at [06:29]
“Failure is better than regret.”
How Fulfillment By Amazon (FBA) works
At [09:38], Kristin shares how the Fulfillment By Amazon FBA works. In FBA, you send your inventories to Amazon warehouses, Amazon stores your products, and when a customer purchases your products, they ship the product to the customer.To learn more about how FBA works, go to [09:38]
“Until you’re dead, you always have an opportunity to change something.”
The biggest financial failure she has experienced in her entrepreneurship journey
Kristin shares the biggest financial failure she has experienced in her business. She was invited to vend her new products at a huge music festival. At the time of the invitation, she only had a few pieces of the inventory.
Since it was a great market target, she invested a lot of money to outsource more inventory, only for her to sell twenty items in the event. Nevertheless, she took the failure positively, learned from it, and tried again the following year. To hear more about her biggest financial failure, go to [14:12]
“You can’t fail unless you completely give up.”
How she teaches others to attain financial freedom
Kristin shares how she teaches others to achieve financial freedom. She does this through a variety of online forums and live webinars where she teaches people what she has learned in her entrepreneurship journey.
Additionally, she teaches people how to start and grow a business with Amazon in her podcast mommyincome. To learn more about how she helps others, tune in at[29:18]
“If it sounds too good to be true, it probably is.”
Kristin’s tip to people planning to start their own Amazon businesses
At [31:08], Kristin gives a tip to people planning to start their Amazon businesses. She advises them to be educated first and be curious instead of having expectations.
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