I've been on Amazon for 5 months and haven't sold anything. After talking to experts, I'm planning to make 2 changes.
In a Google doc I update regularly with notes and reflections on our e-commerce experiment, page 32 emphatically marks the occasion: "The paddles have arrived at Amazon, and the listing is live!!"
It was exciting, deserving of two exclamation points. We'd spent nearly two years brainstorming product ideas — we settled on pickleball paddles — and bringing the product to life. Many steps happened between the ideation phase and our first inventory order, which ran us a little more than $11,000 for 500 paddles. Half of them were sent to Amazon warehouses. The other 250, divided between five large boxes, are stacked to the ceiling of my studio apartment.
If the product development process felt long, tedious, and exhausting, like getting over the finish line of a marathon, moving product is an Ironman. We've sold paddles through our Shopify site and at in-person events, but Amazon? It's been the Sahara Desert. Nearly five months after proudly listing our paddle, we've sold exactly four units.
Take a look at our sales dashboard.
Amazon Seller Central likes to remind us on a daily basis how little money we have coming in. It even provides overall business insights. The most recent one read: "Your store shows a declining trend in both sales and traffic since launch, despite maintaining excellent feature offer percentages."
We get it. We haven't figured out Amazon yet. We're new, overwhelmed, and treating this very much as a side project. That said, we're paying Amazon to store and list our product — and paying rent for our paddles to sit untouched isn't exactly the growth strategy we had in mind.
Shaking things up by purchasing ads and exploring TikTok Shop
If I've learned anything from talking to and writing about successful entrepreneurs, it's to surround yourself with people who are smarter than you or have already achieved what you want to achieve. Ask them questions, be curious, and learn from their mistakes.
Luckily, as a reporter, that's part of my job description.
Based on conversations with people who know a lot more than me about e-commerce, here are two strategic shifts we can implement that could help get our product moving on Amazon.
1. Buy ads
Tyler Walter is the cofounder of 330 Trading Co., a product-sourcing company. He works closely with US-based e-commerce businesses, advising them on everything from initial product development to creating diverse supply chains.
Walter told me, point blank, we have to spend money on ads.
"Ads are going to give you the best fighting chance of selling through all of your inventory profitably," he said. "If you're doing it right, a dollar into advertising should come back as $2 to $3 of revenue."
Ideally, before we start throwing money at ads, we want more product reviews. In the Amazon world, reviews are rocket fuel — without them, our product will go nowhere.
With ads, "you're paying to get eyeballs on your listing," Walter explained. "And if you have zero reviews, every time someone looks at your listing, the chances of them purchasing are much less than if there were a bunch of reviews."
So far, we have three Amazon reviews. Walter said a good short-term goal for us is to get to double-digits. Then, we can look at our competitors and adjust our review goal accordingly.
"Take the first five pickleball paddles that pop up when you search 'pickleball paddle.' How many reviews do they have? Can you get to a 10th of that?" he said. He encouraged us to think like a consumer: If we're comparing products and see one with 500 reviews, one with 200, and one with two, we're likely not going to buy the one with two. "But if you see 20, it makes you think, 'This might be trustworthy. They have a better price. Let me give them a shot.'"
He told us that we may run into a bit of a chicken-and-egg dilemma: We want reviews before spending on ads, but might need ads to actually get reviews.
As far as how much money we need to spend on ads, he explained that Amazon ads are more affordable compared to Google, Meta, and TikTok ads since Amazon already has so much traffic, "so you can test it out with a very small budget."
That said, we want to spend enough to make an impact, and, generally speaking, spending more will lead to better results. It'll take some trial-and-error, and if we have the budget to hire a professional on a site like Fiverr or Upwork to manage our ad campaigns, we should.
As with most things in life, there are no guarantees.
"There's a possibility that you put $700 in over the course of a week, and you don't get a single sale. That is a possibility," he said. "But very quickly, you'll start to see data of how many people are seeing your ads, how many people are clicking in your ads, how many purchases you're getting, what the conversions are — and if you're working with a good professional, they can take that data and and tweak things and you should be able to get a pretty good idea of: Hey, if I put $500 into ads this month, I'm going to get an extra $1,500 in sales that I other otherwise wouldn't have got."
2. Think beyond Amazon and explore TikTok Shop
I learned from Eugene Khayman, who built his own seven-figure Amazon business and now leads a community of 700 top e-commerce entrepreneurs called Million Dollar Sellers, that we should be thinking beyond Amazon.
It's harder than ever to build a profitable Amazon business. Compared to when he started selling on the platform in the early 2010s, the fees are higher, the competition is stiffer, and the strategies are constantly evolving. Not to mention, tariffs, which added an entirely new level of complexity for Amazon sellers at the start of 2025.
"If people are treating Amazon as their whole business, they're definitely more at risk," he said, and "there are so many different verticals of e-commerce to serve."
He pointed to TikTok Shop, where he sees "a lot of opportunity," and compared it to Amazon in the early years before it became overrun with sellers. A smart strategy would be to couple Amazon with TikTok or other marketplaces.
He also emphasized that "complacency kills," a hard truth that even the most established sellers in his community need to be reminded of. "E-commerce was really so easy the past few years, and we have to be more critical of ourselves and overall."
The best way to avoid complacency and stay ahead of the curve is to keep talking to people who know what they're doing.
"It's all about putting yourself in a room with people that are smarter than you, so that you're growing faster and you're not making silly mistakes," he said.
I started an e-commerce business with $5,000 up front after writing about financially independent Amazon sellers. Here's how I doubled my budget.
My friend and I pooled $10,000 to start an e-commerce company. After months of brainstorming products, we chose pickleball paddles.
Months into launching a pickleball eCommerce company with $10,000, I'm already over budget. Here are all of my startup costs, including a surprise $2,095 expense.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Forbes
6 minutes ago
- Forbes
IRS Taxes Apply After You Leave U.S. & Departure Can Trigger More
United States of America permanent resident card, green card, displayed with a US flag in the ... More background and a passport in the foreground. Immigration concept. A recent article notes that denaturalized citizens forced to exit could still face exit tax. The author flags Department of Justice plans for denaturalization proceedings against naturalized citizens who obtained citizenship through fraud or misrepresentation, or who are national security threats. There may be arguments that the tax should not apply in such cases, but if it does--or if you are leaving voluntarily--how does it work? If you leave the U.S. voluntarily or because the government makes you, how could you still be taxed by the IRS? Several ways, actually. First, if you are a U.S. citizen, the mere fact that you live abroad—even forever—does not mean that you avoid U.S. taxes or the annual slog to file IRS returns. You might be paying tax in two places, to the IRS and to your country of residence. If you want to stop paying U.S. tax, you have to go a step further and give up your passport or your green card. Moreover, any income tax you owe from the past is still due, and so are taxes on income you earned up to the date of your departure. But more surprisingly for many, the U.S. has an 'exit tax' that can hit you, depending on your assets and income. The exit tax applies only to U.S. citizens and to longer term (8 years or more) green card holders. The exit tax is like an estate tax on the gain in your assets, even though you are not actually selling anything. It is the IRS's last chance to tax you. Citizens and green card holders leave for many reasons. Common reasons for renouncing are family, tax and legal complications for people who generally live outside the United States. They can include the pressures of America's global tax reporting and compliance, including FATCA, the Foreign Account Tax Compliance Act. It is easy to think that leaving the U.S. to live abroad means no longer paying IRS taxes—especially if you are paying taxes somewhere else. The Exit Tax is computed as if you sold all your assets on the day before you expatriated, and had to report the gain. Net capital gains can be taxed as high as 23.8%, including the 3.8% net investment income tax that applies to some types of gains. For a time, Congress talked of hiking the exit tax to 30% after Eduardo Saverin of Facebook decamped for Singapore. Triggers for Exit Tax There are three triggers for the Exit Tax, and any one of them will make you a covered expatriate. First, is your net worth over $2 million? This is the aggregate net value of worldwide assets. It is not just your U.S. assets. For a married couple, each spouse's net worth is calculated separately. If they own their assets relatively equally, a married couple could have a total net worth of up to $4 million without triggering the Exit Tax. On the other hand, if one spouse owns most of the assets, that spouse could be a covered expatriate, even if the other spouse owns significantly less than $2 million of assets. Thankfully, some couples can gift assets to each other to bring both spouses' net worth below $2 million. If the spouse receiving the gifts is a U.S. citizen, these gifts may escape U.S. gift tax. On the other hand, if the spouse receiving the gift is not a U.S. citizen, spousal gifts may be subject to gift tax even if the spouse receiving the gift is a U.S. green card holder. For 2025, there is an annual exclusion of $190,000 for gifts to non-citizen spouses. If you need to transfer more than that amount to your spouse to bring your net worth to below $2 million, you would have to rely on your unified tax credit to avoid gift tax, or you would need to plan in advance to make the transfers over multiple years before expatriating. Second, is your average net annual income tax liability over $206,000? This is not your taxable income, but your tax liability on that income. If you are married and filing taxes jointly, you must use your net tax liability on your joint returns, even if only one of you is expatriating. This trigger can sometimes be avoided with careful planning. Filing separate tax returns (not joint returns) often makes sense. As the trigger is your average tax liability over the last five years, you may need to file separately for several years before you expatriate. The third way you can be a covered expatriate is if you do not (or cannot) certify five years of U.S. tax compliance. If you haven't filed, or haven't filed properly—say you didn't report an offshore bank account—you will need to fix that before you are in compliance. Fortunately, you can amend your prior tax returns (and other forms) and simultaneously also file an IRS Form 8854 to expatriate. In effect, you sign your Form 8854 last, after you've signed the amended tax documents. What if you trip any of these tests? You need to calculate the Exit Tax. If you are not a covered expatriate, it does not matter. If you are a covered expatriate, the first $890,000 of gain is shielded from the Exit Tax for 2025 expatriations. For spouses who expatriate, each spouse files a separate Form 8854, and each spouse can exclude $890,000 of gain (or nearly $1.4 million of gain combined). The Exit Tax on certain assets, notably 401(k) plans, can be deferred. Thus, you may not have to pay the Exit Tax on the plans' values when you expatriate, and would only pay U.S. tax on the 401(k) plan as distributions are made out of the plan. However, the tax on the future distributions is generally 30%, and you cannot claim a treaty benefit to reduce the tax. For most other assets, you can make an irrevocable election to defer payment on the Exit Tax owed. Still, the IRS wants a bond or adequate security for any deferred Exit Tax, and interest accrues until it is paid. Even if a covered expatriate has less than $890,000 of gain in his or her assets, being a covered expatriate has negative consequences. If you have friends or family in the U.S., being a covered expatriate could result in your gifts to them coming with a tax bill that they would have to pay. Even if your Exit Tax may be slight, or you would not owe any Exit Tax (for example, because of the $890,000 gain exclusion), avoid being a covered expatriate if you can. A goal of many expatriating taxpayers is to have a final, clean break from the U.S. tax system. Certifying five years of tax compliance can be difficult. U.S. taxes are complex, and if you live or have assets abroad, there are extra levels of complexity. You must report your worldwide income, wherever it is generated. And FATCA requires an annual Form 8938 filed with the IRS if your foreign assets meet a threshold. Then there are annual foreign bank account reports called FBARs. They carry big civil and even potential criminal penalties if you fail to file them or file them falsely. The civil penalties can consume the entire balance of an account, so be careful.
Yahoo
8 minutes ago
- Yahoo
Healthcare & Life Sciences NLP Market Report 2025-2030, with Case Studies of CSL Behring, IQVIA, Atrius Health, Linguamatics, Humana, Watson, Philips, and Amazon
The NLP in healthcare & life sciences market is projected to grow from USD 5.18 billion in 2025 to USD 16.01 billion by 2030, at a CAGR of 25.3%. This growth is driven by the need to convert unstructured clinical data into actionable insights, enhancing clinical decision support. Key segments include Natural Language Generation (NLG), which improves documentation efficiency, and Named Entity Recognition (NER), critical for extracting structured information. North America leads due to its advanced infrastructure, while Asia Pacific shows rapid expansion. Prominent players such as Microsoft, Google, and IBM are pivotal in driving this market evolution. NLP in Healthcare & Life Sciences Market Dublin, July 14, 2025 (GLOBE NEWSWIRE) -- The "NLP in Healthcare & Life Sciences Market by NLP Technique, Application - Global Forecast to 2030" has been added to NLP in healthcare & life sciences market is experiencing rapid growth, expected to expand from USD 5.18 billion in 2025 to USD 16.01 billion by 2030, driven by a CAGR of 25.3% during the forecast period. The surge in unstructured clinical data, such as electronic health records, physician notes, and pathology reports, drives the need for NLP technologies to extract actionable insights. Clinical decision support plays an increasing role, with NLP enabling real-time diagnostics and treatment recommendations in precision medicine. Outdated IT systems, however, present integration and interoperability challenges, though the modernization of healthcare systems positions NLP as a cornerstone of personalized, data-driven care delivery. NLG Type Segment to Account for Fastest Growth Natural language generation (NLG) is poised to be the fastest-growing segment within the NLP market for healthcare and life sciences. By transforming structured clinical data into coherent narratives, NLG enhances documentation and reduces physician workload, automating the creation of patient summaries, discharge notes, and personalized communications. This drives patient engagement and adherence, propelled by the rising need for efficient data management and automation across healthcare operations. As providers aim for better operational efficiency and patient outcomes, NLG establishes itself as a crucial tool for accurate and timely clinical documentation. NER NLP Technique Segment Holds Largest Market Share Named entity recognition (NER) is the dominant segment in NLP for healthcare, crucial for extracting structured information from unstructured medical texts. It enhances decision-making, medical coding, and data interoperability by identifying key entities like diseases, drugs, and patient information. The capability to process extensive EHRs and biomedical literature makes NER essential for improving diagnostics and research. As the healthcare industry increasingly depends on data-driven insights, the precision of NER solidifies its role as a foundational tool in multiple medical applications. Regional Insights: North America Leads, Asia Pacific Shows Fastest Growth North America spearheads the NLP market in healthcare and life sciences, attributed to advanced IT infrastructure, supportive digital health regulations, and early adoption of EHRs and AI. The region features leading industry players and research institutions actively deploying NLP for clinical decision-making and administrative automation. Conversely, Asia Pacific emerges as the fastest-growing region, driven by healthcare digitization, AI investment, and personalized medicine awareness, with China, India, and Japan at the forefront. The regional demand and technological advancements make it a hotspot for NLP adoption. Competitive Landscape The report profiles major players such as Microsoft, Google, IBM, AWS, Oracle, and others, providing detailed analysis of their business strategies, solutions, partnerships, and market developments. Research Coverage This report segments the NLP market based on offering (software and services), deployment mode (cloud & on-premises), NLP type (NLU and NLG), and NLP technique options such as NER, OCR, sentiment analysis, among others. Applications span patient care, clinical operations, research, and administration, with segmentation by end-user and region. The report covers drivers, restraints, challenges, and opportunities influencing the NLP market growth, alongside a comprehensive analysis of key industry players and the strategies they adopt. It provides insights for market leaders and new entrants alike, offering clear approximations of revenue potentials and educating stakeholders on competitive, market, and strategic landscapes. The Report Offers Insights On: Analysis of key drivers, restraints, opportunities, and challenges facing the industry. Upcoming product developments and innovations in NLP technology for healthcare. Market development in various regions and diversification opportunities. Competitive assessment of market shares, growth strategies, and service offerings of prominent market players. Key Attributes: Report Attribute Details No. of Pages 354 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $5.18 Billion Forecasted Market Value (USD) by 2030 $16.01 Billion Compound Annual Growth Rate 25.3% Regions Covered Global Key Topics Covered: Market Dynamics Drivers Surging Volume of Unstructured Clinical Data Rising Demand for Enhanced Care Delivery and Patient Engagement Need for Predictive Analytics to Improve Significant Health Concerns Increasing Focus on Enhancing Clinical Decision Support Restraints Clinical Accuracy and Reliability Concerns Issues Related to Domain-Specific Language and Medical Terminology in NLP Model Development Complexity in Integrating NLP with Established Healthcare System Opportunities Rising Adoption of Computer-Assisted Coding to Enhance Productivity Emergence of Advanced AI Technology for Generating Valuable Insights for Healthcare Emergence of Cognitive Computing for Medicine Applications Challenges Model Training Data Limitations High Cost of Implementation and Maintenance of NLP Technology Explainability and Interpretability Issues while Deploying NLP Algorithms Case Studies Case Study 1: CSL Behring Collaborated with IQVIA's NLP Team, Linguamatics, to Create Proof of Concept Case Study 2: Atrius Health Used Linguamatics I2E to Create Queries to Extract Clinical Data from Free-Text Fields Within Clinician Progress Notes and Clinical Reports Case Study 3: Humana Adopted Watson's Voice Agent to Offer Enhanced Self-Service Capabilities to Healthcare Providers Case Study 4: Biopharmaceutical Company Deployed IQVIA's Solutions to Conduct Health Technology Assessment Case Study 5: Philips Adopted Amazon's Elastic Compute Cloud (Amazon EC2) to Attain Secure, Resizable Computing Capacity Company Profiles IBM Microsoft Google AWS IQVIA Oracle Inovalon Dolbey Systems Averbis SAS Institute Solventum Press Ganey Ellipsis Health Lexalytics NVIDIA GE Healthcare Clinithink HPE Oncora Medical Flatiron Health Datavant Edifecs John Snow Labs ITRex Group KMS Healthcare Appinventiv Reveal HealthTech Veritis Optum Health Catalyst Amboss Maruti Techlabs DeepScribe Foresee Medical Notable Health Biofourmis Suki AI Wave Health Technologies Corti CloudMedX Emtelligent Enlitic Deep 6 AI For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment NLP in Healthcare & Life Sciences Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Entrepreneur
19 minutes ago
- Entrepreneur
How Bookshop's Founder Raised $39M+ for Small Businesses
Andy Hunter, founder and CEO of set out to support independent bookstores across the U.S. When Andy Hunter, founder and CEO of followed his lifelong passion for books into the publishing industry in 2009, he noticed an unsettling shift: The bookstores that had defined his childhood and communities were going out of business — rapidly losing market share to Amazon. Image Credit: Courtesy of Andy Hunter. The number of U.S. bookstores decreased more than 50% in the span of about two decades, falling from 12,151 in 1998 to 6,045 in 2019, according to data from the Census Bureau's County Business Patterns. Jeff Bezos founded Amazon, which initially focused on selling books online, in July 1995. Today, book sales make up roughly 10% of Amazon's profit at an estimated $28 billion; in 2020, the House Judiciary Committee found that the ecommerce giant controlled over 50% of the total print book market and more than 80% of the ebook market. Related: Why Purpose-Driven Marketplaces Are the Antidote to Amazon "Bookstores are advocates and activists for the importance of reading in all their communities." Amid Amazon and ecommerce's quick, concurrent growth, Hunter realized that bookstores were "facing an extinction event." "It is really like the environment, where you can have coral reefs, and when the coral reefs die, then everything is hosed," Hunter explains. "Bookstores are advocates and activists for the importance of reading in all their communities. As those start to die out, the importance of books in our culture also starts to recede." Hunter built his career in publishing for more than a decade, during which he co-founded literary websites Electric Literature and Literary Hub and the independent publisher Catapult. Related: 5 Books Every Small Business Owner Should Read Over the years, Hunter waited for someone to acknowledge what was happening to the nation's bookstores, for "some champion to come along" and save them. Then, at a dinner in 2018, Hunter sat next to a member of the American Booksellers Association's board of directors who pointed out that Hunter had internet expertise — could he help with the organization's online sales strategy? That's when Hunter came up with the idea for Bookshop, the online book seller that funnels profits back to independent bookstores across the country. If shoppers choose a specific local store to support, that small business receives 100% of the sales profit; otherwise, 33% of the profit is distributed among all of the bookstores on the platform. "Fortunately, it did succeed — and it actually succeeded beyond our wildest dreams." " It was kind of a Hail Mary," Hunter recalls. "At the time, I was like, Well, this almost certainly won't succeed because I've never done anything like this before, and the odds are completely against us. Nobody wanted to invest in it. But nothing is going to get better if you don't do anything about it, so at least [we were] going to try to do something about it. And, fortunately, it did succeed — and it actually succeeded beyond our wildest dreams." Bookshop launched in January 2020, and in the early days, the "very small, very scrappy" startup didn't have a customer service team and saw modest sales. That changed when the pandemic hit about eight weeks later. Hunter says that Bookshop's daily sales grew from $10,000 to $50,000 to $150,000 in short order. In the same period, the number of bookstores on the platform increased from 250 to more than 1,500. Related: Why Your Business Should Be a Benefit Corporation, or B Corp Now, Bookshop is a certified B Corp that has raised more than $39 million for independent bookstores to date. "Our profit is not huge because if our profit is huge, then it's off of our mission." The startup's explosive growth began to wane in 2022, as customers returned to buy in-person at their local bookstores, Hunter says. Bookshop was profitable in 2020 and 2021, then lost money every year through 2024. "This year, we're profitable again," Hunter says, "but we're really lean. Our expenses are less than 13% of our total sales. We have something like $1.5 million of revenue per employee. We stay super lean because we are trying to always give the maximum amount to the bookstores. Even when we are profitable, our profit is not huge because if our profit is huge, then it's off of our mission [to] support local bookstores." Earlier this year, Bookshop tackled its next frontier: ebooks. The goal was to build a "really easy to use" application that would function across devices in the U.S. and other countries, Hunter says. The initiative, launched in January, has been a challenge for the small company, which lacks the substantial financial backing of competitors. Digital reading subscription service Scribd has raised more than $100 million; Bookshop raised $2.3 million to support its ebook platform. Related: Why (and How) Amazon Created the Kindle and Changed the Book Industry Forever " So we're talking about a platform that has competitors that are 50 times better funded," Hunter says, "and that doesn't even go into Amazon and how much money Amazon has spent on the Kindle. So we are a scrappy, ragtag band of hopefully talented enough people to be able to pull us off." Additionally, because Bookshop gives so much of its profit to independent bookstores, it doesn't have a large digital marketing budget. Bookshop spends about 2% of its revenue on advertisements and marketing. In contrast to the direct-to-consumer brands that saw major growth during the pandemic and spend 15% to 30% of their topline revenue on digital marketing, Bookshop relies heavily on word-of-mouth and referrals, Hunter says. So far, Bookshop's word-of-mouth marketing strategy is paying off: The company is about a year ahead of its projections for ebook sales, which already make up 5% of total sales. "For us, winning is, we got 5% of Amazon customers to switch to independent bookstores." Of course, getting Bookshop's ebooks on Amazon's Kindle devices could bring even more significant growth. Although the Kindle supports some third-party applications like the library reading app Libby, ebooks from other platforms, including Scribd, aren't available on the device. Access requires Amazon's permission, and the request letter that Hunter sent to the company about four months ago has yet to receive a reply. Bookshop is doing roughly three times the total independent online bookstore sales in 2019, Hunter says — and he's determined to grow that number. " Amazon is really powerful and has tons of resources," Hunter says. "They've got Prime and a lot of ways to lock in customers. So we try to be realistic, but for us, winning is not beating Amazon. For us, winning is, we got 5% of Amazon customers to switch to independent bookstores — that would be a huge lifeline for independent bookstores." Related: A Beloved 130-Year-Old Small Business in California Is Seeking a New Owner — and It Won't Sell to the Highest Bidder: 'Everybody's Talking About It' The good news is that independent bookstores appear to be making a comeback. " For the past five years, every single year, more bookstores have opened than closed," Hunter says. "And there are now, from a low of about 1,900 independent bookstores in the American Booksellers Association in 2019, about 2,800 independent bookstores in the American Booksellers Association." The American Booksellers Association, which advocates for independent bookstores, reported 2,433 bookstore companies in 2,844 store locations in 2024, an 11% increase in membership year over year. Bookshop currently hosts more than 2,200 independent stores on its platform. "The cost is ultimately what kind of society we're creating." Hunter encourages everyone to consider the future they want for themselves and the next generation — and how the small decisions we make every day will shape it. "Convenience has a cost that isn't apparent to everybody at the face, and the cost is ultimately what kind of society we're creating," Hunter says. "[People should] make the effort of making good choices because they're going to be living in the world that those choices created."