Title: My Amazon Journey – Part 3 – Zero to Freedom in 3 months selling physical products on Amazon FBA
Subtitle: Amazon FBA set up for beginners.
I have now, after what feels like ages researching all the legal requirements for UK company set up: DONE IT. My company has been incorporated(which is the legal term for registered). In total it cost me £11.99 and was finished from start to finish in just under 48 hours.
Company set up is the first step to setting up any business and subsequently is my first step to making money on Amazon FBA. If you want to hear more about the quick process of company set up go my youtube channel CultureGreens https://www.youtube.com/channel/UCVzPxLWDkrBxBYGAaml0New
I also had my meeting with the Business Banking team to set up a Business Bank Account. I’m not going to talk you through the really boring nitty gritty details but im going to tell you briefly how to prepare for a business banking meeting and what to look out for.
6 Important Preparation Steps Pre Business Banking Meeting:
- Arrange for your business bank meeting to be in person. I say this because if youre a very visual person or someone who gets their emotions across through body language its a great way to showcase your passion. Sitting on a phone for an hour is not going to show off your best bits!
- Briefly make yourself aware of what packages the bank can offer you(there will be a few). This way you go in with alternative options which you are able to ask for.
- Make yourself aware of the COMPETITION. By this I mean, be aware of what other banks can offer you and challenge the business manager if you feel you aren’t getting the best deal – banks are competitive and they will want to give you the best deal! ( I questioned my local business manager on interest rates – I wanted to know that if found a bank that offered a better interest rate on my loan they would match it and guess what? They would!
- Know what you want from the meeting. Theres no good going into the meeting and not knowing what it is you’re looking for. Business bank managers want you to be in control of your destiny and if youre sat there really unsure of what it is youre even looking for its not going to make a good impression.
- Dont dress to impress. Youre not going to an interview so don’t think you have to wear a suit or a dress. I wore something smart(by my standards of flip flops and hoodies) but it was like i was going out for the day. I wore colours because its summer, nice shoes and top.
- Come with information. That is, come with whatever information you need to get what you want from the meeting. If you want a loan come with your costs that the loan will be used for. Come with your forecasts and projections(wait for my next few videos detailing the importance of projections and forecasts)
Actual business meeting.
- Ask questions and be curious. The more questions you ask in the business banking meeting the more answers you’ll receive.
- Be personable. Dont sit there and nod your head too afraid to talk, spark up conversation after all it can only be a positive thing! Business bank managers do this job because they love people and helping people.
- Ask for an alternative route. If you don’t get what you want you MUST ASK for alternatives. Remember this is YOUR meeting and they are SPECIALISTS so if they can’t help you then will know someone who will be able to.
- Express yourself. Tell them all the information you know, sell your business plan, sell yourself and be passionate. They will judge you as a person when they decide on your application approval or disapproval.
I hope this helps, any more info you need, you know what to do!!
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