Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs. (Michael Veazey)

Greg Reynolds is the founder and CEO of ZonSupport, they are customer care experts for Amazon. Greg was originally from New Zealand but is currently in Thailand as a digital nomad. Today we are going to discuss if Customer Service is just a commodity or is it something more? Check them out here: https://amazingfba.com/zonsupport   You'll Learn: The times where you should be taking customer service emails/ tickets Why Native speakers matter even if they are typing not only speaking Why something as small as a product insert can take your business one step further How to begin with the end in mind The 3PL Fulfilment juggle stock How to improve your feedback score

This week we mix it up and share a special list Michael’s prepared after interviewing over 500 Amazon sellers. It’s a list of 10 powerful business concepts from top Amazon experts. So join us as we share the best of the best. What you’ll learn 10 powerful business concepts from over 500 episodes of the amazingfba podcast. Links to Amazing FBA Podcast interviews mentioned The Amazon Jungle with Rick Cesari and Jason Boyce PL cf Wholesale sourcing with Dylan Frost of The Wholesale Formula How to choose products for amazon private label with Kevin king Stephen Somers on Product Research for Amazon (from Marketplace Superheroes) Inventory management ecommerce with Marvin Harris of Ovalz Amazon Fulfilment Problems (and solutions) with Will Tjernlund of Goat Consulting Daisi Jo Pollard Sepulveda on models in product photography Ecommerce Business Processes with Dillon Carter of Vendrive CRM e commerce trends 2021 with Dylan Frost of The Wholesale Formula Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Debt. The word has so many negative connotations and yet - used wisely - it can be a key to making the operations of your ecommerce business work. But exit financing for ecommerce - aka using debt to sell your business - is a great way to sell your business for more money! But debt can also to fund the acquisition of a business - or enable your business to be sold using debt. Why would you even consider doing this? And What is the difference between financing for exit vs for operations? Today's expert guest, Stephen Speer,  answers this and more. He specialises in exit financing for ecommerce businesses.  Stephen  is a 28-year veteran of funding and his lending career spans over 28 years. His company, eCommerce Lending Inc, has funded over $300 million in online business acquisition loans. What You’ll Learn The definition of exit financing for e-commerce and its value to you The difference between financing for exit vs for operations understanding this can make or break your business! Add value to your business through understanding the importance of maximizing your value when you exit. The reason why you, the seller, should be organizing the finance and not someone else! (Hint: You can leverage your price!) Does the size of your business qualify for this? The Pros and Cons of Exit Financing, find out if this suits you! Freebies Book a consultation with Stephen Speer at here

Business loan for ecommerce is the main topic for this episode and Stephen will share his insights and help you increase the size of the business you can possible acquire! Debt. The word has so many negative connotations and yet - used wisely - it can be a key to making the operations of your ecom business work. But debt can also to fund the acquisition of a business - or enable your business to be sold using debt. Why would you even consider doing this? And What is the difference between financing for exit vs for operations? Today's expert guest, Stephen Speer,  answers this and more. Stephen  is a 28-year veteran of funding and  His lending career spans over 28 years. His company, eCommerce Lending Inc, has funded over $300 million in online business acquisition loans. What You’ll Learn How to use the “Plug and play angle” that would benefit you from your competition! Stephen shares his thoughts on how he does his deals and how it benefited him (This section has some details you might want to look out!) Do you see yourself as an aggregator or someone that just acquire business, leverage where you stand on both sides! Freebies Book a consultation with Stephen Speer at here

Amazon inventory management doesn’t sound very sexy. Sadly, it’s not just necessary. It's critical. The great news is this: get this right and you can improve everything you care about as an entrepreneur. It can actually transform your business. Especially its cash flow and profitability. If those aren't sexy words to you yet, they should be! Cash flow keeps you in business. And profit enables you not only to pay yourself. It creates 100% of the value in your business! Why it's important to get right Amazon inventory management right All systems selling products need to manage inventory well. Certainly, that's especially true for physical products. The sheer sales velocity on Amazon makes inventory management particularly critical on Amazon. It's a classic case of balance sheet management. You can make the same sales with lower working capital. That's less money invested. You can have stronger cashflow. Meaning it's safer. In addition, you can also make more sales. A LOT more sales. AND more profits! There are HUGE wins to be got from this. Nailing Amazon seller central inventory management is mission critical. What can go wrong with Amazon inventory management But what happens if you get it wrong? Why does it matter so much? Well, there are two big potential pitfalls. The first is having overstock inventory [internal link]. The second is having Amazon out of stock [internal link]. Both have serious consequences. Overstock inventory means... If you're overstocked, you'll get a ton of issues. That's kind of easier to understand than being out of stock but worth listing here. First of all, you'll end up tying up a lot more cash in inventory than you need. That has many bad effects: The working capital [kw research then internal link?] needed for a product line shoots up. If you're already importing from abroad, that number may become huge fast . Cash can crater to low levels. You may have to borrow more [do kw research then internal link], increasing your costs as you pay interest It will stop you redeploying that capital to start a new product line It's not an efficient part of your business. That makes your business as a whole less lendable. It makes your business less sellable and less desirable. Being out of stock. What's badly misunderstood is the danger of being out of stock. The reason is simple. Those losses don't show up in any kind of financial document. Even so, the loss is real. And it's often huge. Carrying insufficient quantities of inventory on hand [internal link] is worse than it sounds. It can lead to many cash flow issues, including: Weeks (or months) of zero profit Zero cashflow from those products while out of stock. Giving your competitors sales you could have had Giving your competitors market share which may be hard to regain Losing Amazon keyword ranking which you may not get back Lower growth for your business Lost future value of your business How to forecast inventory This is not a quick win if you insist on doing this yourself! That's why I spent so long telling you how important it is. You're either going to end spending a few hours a week on it yourself. Or you'll hire someone competent and pay good money. Or you'll use some high-quality software system. There's no short cut. But That said, it does depend where you are at with your business growth. The size of your business makes a difference. How to restock inventory  for Early stage Amazon businesses Early stage businesses with under $3000 a month in sales may need to do manual stock management. In essence, you're deciding - when to restock inventory into which part of your supply chain - how much stock to get or move. Factors in inventory organization There are a few important factors in good Amazon inventory management: inventory organization [int link] and stock tracking how to forecast sales using historical data [internal link]

This week we mix it up and share a special list Michael’s prepared after interviewing over 500 Amazon sellers. It’s a list of 10 powerful business concepts from top Amazon experts. So join us as we share the best of the best. What you’ll learn 10 powerful business concepts from over 500 episodes of the amazingfba podcast. Links to Amazing FBA Podcast interviews mentioned The Amazon Jungle with Rick Cesari and Jason Boyce PL cf Wholesale sourcing with Dylan Frost of The Wholesale Formula How to choose products for amazon private label with Kevin king Stephen Somers on Product Research for Amazon (from Marketplace Superheroes) Inventory management ecommerce with Marvin Harris of Ovalz Amazon Fulfilment Problems (and solutions) with Will Tjernlund of Goat Consulting Daisi Jo Pollard Sepulveda on models in product photography Ecommerce Business Processes with Dillon Carter of Vendrive CRM e commerce trends 2021 with Dylan Frost of The Wholesale Formula Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Amazon Advertising is a mixed blessing at the best of times. On the one hand - pull the lever and the traffic comes (most of the time anyway!). On the other - not only does it cost a good % of your revenue - but the price keeps going up for ads! Now add in a recession - and what should we be doing to grow our Amazon PL businesses? To discuss this and more, Hai Mag from Eva joins us. With many large PL clients using their service to manage Amazon PPC, they have the inside track on the data! What You’ll Learn Understanding a recession and how to leverage it to your advantage! What you should do is build a data-driven strategy with your partners, Hai's two cents on increasing your business The Small and Big Data how does this affect your business? How to find holistic target competitors. What to do with the boutique agencies? Resources Get Your Reimbursement Repricing and Stock Management Free PPC Audit + Account Audit + Market Share Analysis

Running an e-commerce business in an economic downturn can present intense challenges. Some businesses will thrive & grow. Others will struggle. Of course, we all want to survive. And if possible, thrive. That means we have to prepare ourselves to defend against a downturn. To defend against a downturn, we must first all determine if we are yet in one. So first of all, we must figure out where we are at in an economic cycle. That's actually extremely hard to a degree. And a personal judgement call. Nonetheless, one we have to make. Next, we need to be prepared in advance. Trying to sort this out on the fly is a bad plan for several reasons. One is that we won't be able to handle the workload and stress. The second is that our competitors will be after the same resources at the same time. We need to think through a downturn optimal product strategy (physical vs digital). We also need to have a downturn optimal pricing strategy. These are some of the many thoughts we explored in today's discussion. In this episode, we share 10 principles you can use to survive and thrive. What you’ll learn 10 Principles for surviving and thriving in a down economy Why Productive Paranoia helped Bill Gates thrive in difficult times Why you should probably cut a lot of your physical product lines How the Star Principle applies and more importantly, when to use it What your product mix is and how to optimise it for a downturn The right time to push for market share! The big opportunity that comes from running your business well, while others start to fail The importance of timing your moves Resources The Star Principle, Book by Richard Koch Pixie Faire, Jason and Cinnamon’s primary business Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Today we will continue with Off-Amazon PPC and Amazon Attribution with Hai Mag and it's marketing value to your business.  Amazon Advertising is a mixed blessing at the best of times. On the one hand - pull the lever and the traffic comes (most of the time anyway!). On the other - not only does it cost a good % of your revenue - but the price keeps going up for ads! Now add in a recession - and what should we be doing to grow our Amazon PL businesses? To discuss this and more, Hai Mag from Eva joins us. With many large PL clients using their service to manage Amazon PPC, they have the inside track on the data! What You’ll Learn Find out how to increase your profits from 5% to 20%! How to maximize your profit from pricing. Discover the things that improve profit, such as using reimbursements Resources Get Your Reimbursement Repricing and Stock Management Free PPC Audit + Account Audit + Market Share Analysis

In this video we discuss how you can set up and run a membership program on a Shopify website. We share details about our program and explain the benefits of the model.

Selling in Europe has been a goal for many Amazon sellers. Whether you're based in UK or USA it's always a siren call. But is it worth the hassle? Many of my big seller friends in the UK made millions of pounds and Euros before Brexit. Same is true for the 7-figure clients in my mastermind. But about post Brexit? Is it still viable? There seem to be so many issues. Between VAT registration, "indirect representatives", and customs declarations, it can seem very intimidating. Add in the vagaries of the German government and it can feel like it's not worthwhile. If that's how you feel, it's worth thinking again. For starters, Amazon Germany and Amazon UK together account for well over 2/3 of all European Amazon sales. And with German sales being even bigger than UK ones, they are problems worth solving. Particularly as you're not the only seller facing these problems. And on the other side of barriers to entry are: less competitive markets! We talk to the specialist in solving these issues, Andy Hooper of Global Ecommerce Experts.   What You'll Learn The opportunities of selling Amazon in Europe The benefits of expanding your market to Europe The main reason why people are scared in selling in Europe Understand VAT Compliance and get yourself ahead with your competition Finding the common red tape issues The benefits of being an entrepreneur instead of a shipping agent The pains of shipping in some areas in Europe Resources Get in touch with Global Ecommerce Experts Connect with Andy Hooper

Many of my big seller friends in the UK made millions of pounds and Euros before Brexit. Same is true for the 7-figure clients in my mastermind. But after Brexit, many went from €1 million or more a year in Europe to a handful of Euros. It's been a painful road back for some of us. So is selling into Amazon Europe still viable? And if most of your stock is in the UK to start with, how do we cross the EU barrier? There seem to be so many issues. Between VAT registration, "indirect representatives", and customs declarations, it can seem very intimidating. Add in the vagaries of the German and French governments and it can feel like it's not worthwhile. There are two reasons to rethink this position. Let's look at the opportunity first. Firstly, the size of the opportunity is bigger than ever. The pandemic boosted sales in Germany as it did in all Amazon marketplace. Relative to other marketplaces, Germany is the 2nd biggest in the world. Relative to its own size 2 or 3 years ago, it's huge. Either way, it's a huge market. Secondly, if you're facing barriers, so are your competitors. If you can solve this problem, you face much lower competition than you would in equivalent UK or US markets. But what about all those niggly problems? Luckily, all is not as bad as it seems. For starters, companies exist that specialise in solving exactly this kind of problem. Companies like Global Ecomm Experts in fact! Then also, the practices have been stabilising between the UK and EU. Plus, some countries are easier to deal with than others. Find the smoother path into Europe via those countries, and it all becomes much more doable.   What You'll Learn Understanding the Pre-Brexit and Post-Brexit economy The current situation and how this will benefit your business What's the next step, Post-Brexit? Customs and the importance of having an Indirect Rep The best way to scale your brand! The complications of EFN Resources Get in touch with Global Ecommerce Experts Connect with Andy Hooper

In this week’s video Kyle and I discuss Shiny Object Syndrome. Why it happens, but also when and how to use it to your advantage to grow your business! Of course we also share tips for how to avoid it when it’s hurting you.

There's a saying "it's not the things you don't know that hurt you;  it's the things you think you do know and are wrong! Bookkeeping is one of the areas in which I see e-commerce sellers messing up the most in my client work. Many people simply ignore the numbers, which is a bit frightening. Other people, however, I think they're doing things the right way but they are in fact not!  And that is possibly the most dangerous of all. Join Nathan Hirsch of ecombalance to find those errors and how to work with a book-keeper to correct them! About Nathan Nathan Hirsch is a lifelong entrepreneur and currently the CEO of EcomBalance and Outsource School. Nathan is best known for co-founding FreeUp.net in 2015 with an initial $5,000 investment, scaling it to $12 million in yearly revenue, and having it acquired in 2019. Today, he leads EcomBalance, an online bookkeeping service for eCommerce and digital businesses, and Outsource School, a membership teaching business owners how to hire effectively online. Nathan has appeared on 400+ podcasts, is a social media personality. Him and his wife live in Denver, Colorado with his two dogs where they are foster parents. What You’ll Learn Why there is no situation where you should do your own  books as an entrepreneur Why doing your books yourself badly may cost you more than hiring a book keeper! What tools to avoid in book-keeping The only 2 recommended book-keeping software systems Why cash basis accounting is a big error for ecommerce businesses What the key document is that you and your book keeper need to understand The  3 things you can’t avoid paying for when you start in business Resources Get Your PDF Files from Nathan Hirsch here!  Join Today and Get 2 Free Months!    

Bookkeepers and entrepreneurs sometimes feel like they speak separate languages! And many e-commerce sellers are not very familiar with hiring experts. So there are a few errors of communication it’s critical to watch out for as an eCommerce operator when hiring and communicating with a book-keeper Muddling up personal and business banking, not telling bookkeepers critical information; assuming bookkeepers know everything - these are some of the ways entrepreneurs shoot themselves in the foot when it comes to communicating with bookkeepers!  But there are a few simple rules of thumb that Nathan and his team have developed to get much smoother communication! About Nathan Nathan Hirsch is a lifelong entrepreneur and currently the CEO of EcomBalance and Outsource School. Nathan is best known for co-founding FreeUp.net in 2015 with an initial $5,000 investment, scaling it to $12 million in yearly revenue, and having it acquired in 2019. Today, he leads EcomBalance, an online bookkeeping service for eCommerce and digital businesses, and Outsource School, a membership teaching business owners how to hire effectively online. Nathan has appeared on 400+ podcasts, is a social media personality. Him and his wife live in Denver, Colorado with his two dogs where they are foster parents. What You’ll Learn Why a kick-off call matters with your book keeper and what you should cover in it Why the first 30 days is critical and what needs to happen during that period Why sharing your key metrics is so important How assumptions can damage communications  How to deal with large purchases How to make sure your tax accounts tie in with your book keeping Resources Get Your PDF Files from Nathan Hirsch here!  Join Today and Get 2 Free Months!  

Instagram is incredibly hot! I’m honored to have written Instagram Power with McGraw Hill in 2014. Until then, we’ve written a little ebook for you – just as a starter tool. Simply follow us on Facebook Messenger and it’s all yours! Resources : Download the Ebook Here!

Return-On-Investment (ROI) concepts applied to e-commerce – is one of our e-commerce 1st principles. In this 2-part episode we’re going to discuss 3 ROI super-strategies to help you clarify your approach to ROI thinking, and scale up your online selling business. What you’ll learn 3 ROI Super-Strategies To Help You Scale Your Business Vital Questions For ROI Thinking For E-commerce Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Return-On-Investment (ROI) concepts applied to e-commerce – is one of our e-commerce 1st principles. In this 2-part episode we’re going to discuss 3 ROI super-strategies to help you clarify your approach to ROI thinking, and scale up your online selling business. What you’ll learn 3 ROI Super-Strategies To Help You Scale Your Business Vital Questions For ROI Thinking For E-commerce Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Germany is still Amazon's second biggest marketplace by value in the world, beating the UK and Japan. It's a great opportunity for many sellers to sell there. However... UK, American, Australian Amazon Sellers - or any other non-European sellers - struggle to export to the EU. Whether it's VAT, customs or other red tape, it's often confusing and frustrating.   For UK sellers, Brexit has been a brutal experience. From being able to sell effortlessly, we’ve had to learn to jump through ever-changing hoops.  Step forward Avask. Used by several 10K Collective mastermind members, they are tried and trusted experts in solving these problems - and getting us access to those lucrative European markets!  What You'll Learn Understanding the shipping polices in Germany The cause and effects of engaging with German customs The Alternatives : UK to Netherlands Discover the EPRs for UK-Based People Other things other than VAT and indirect rep do we need in place Get In Touch  Find Out More About Avask More info about exports Book A Call with Jacob

Germany is still Amazon's second biggest marketplace by value in the world, beating the UK and Japan. It's a great opportunity for many sellers to sell there. However... UK, American, Australian Amazon Sellers - or any other non-European sellers - struggle to export to the EU. Whether it's VAT, customs or other red tape, it's often confusing and frustrating.   For UK sellers, Brexit has been a brutal experience. From being able to sell effortlessly, we’ve had to learn to jump through ever-changing hoops.  Step forward Avask. Used by several 10K Collective mastermind members, they are tried and trusted experts in solving these problems - and getting us access to those lucrative European markets!  What You'll Learn The benefits of considering shipping to non-European sellers The common misconceptions of of shipping How to approach European markets Start with UK and Expand to other places, why is it the best option You need someone for customs to clear shipping Get In Touch  More info about exports Book A Call with Jacob

Ah team building! The mythic solution to all our problems! The problem is of course that this is not only not easy, it's new to most solopreneurs. Even those with substantial teams in UK or USA etc. (Home country) have a steep learning curve when it comes to remote hiring and managing. Luckily today's guest, Mina Elias, has been hiring a remote team at great speed! So he's here to share how to crack this particular nut... What You’ll Learn Taking it back to basics here - How Mina hired and onboarded my new project manager remotely. Hiring and onboarding people remotely is no longer a gimmicky idea. It’s a must-have for growing your business. Hiring and onboarding can be a difficult process, especially if you are trying to do it remotely or with large teams. Mina will share some tips for hiring and onboarding your team. We've got the answers you need to save time and money, hire and onboard remotely. If you’re a full time employee of your company and Amazon is a side hustle, take some of your salary and put some towards an employee for Amazon business. Better Beginner Process with Mina Mina talks about his thoughts on CV and why CVs are not effective during the hiring process. The 16- Personality test is a great way to get an accurate read on your personality and work style.

Ah team building! The mythic solution to all our problems! The problem is of course that this is not only not easy, it's new to most solopreneurs. Even those with substantial teams in UK or USA etc. (Home country) have a steep learning curve when it comes to remote hiring and managing. Luckily today's guest, Mina Elias, has been hiring a remote team at great speed! So he's here to share how to crack this particular nut... What You’ll Learn When you have to work from home, things can get hectic. To make sure you aren’t missing out on anything, here are some tips on how to manage remotely and still keep up with your routine. The tools used by Mina when it comes to managing his team Workflow and SOPs by Mina You can keep on track with these tools and steps to help you achieve goals. How to become a GOAL manager not a TASK manager Mina's Corporate Structure : “You Will Do Whatever It Takes”

Every decent Amazon seller knows that getting great images is really vital for their Amazon listing. That is absolutely true. They also know that hiring a great photographer or image professional is critical. Sadly, when it comes to communications, many Amazon sellers snatch defeat from the jaws of victory! Creating a great brief for your image pro's is vital -hence today's show with our expert, Daisi Sepulveda. What You'll Learn The Importance of Having a Brief The several ways to collect user-generated content and use it to build your brand. How Daist integrated UGC service into myproductmodel Resources Here UGC Guide and Course Use the Promo Code : AMAZINGFBA20 for a Discounted Price for MyProductModel

Daisi is a “Modelpreneur” – former Miss Jamaica, Founder of My product Model.com which is an agency for eCommerce entrepreneurs to get incredible photography; also the founder of “Brazen Influencers”, an agency that links eCommerce sellers and influencers. What You'll Learn How to understand User Generated Content What is UGC How do you use UGC? You can use UGC in so many ways! How to encourage UGC What makes a good UGC image? Using UGC in your ad creatives Resources Here UGC Guide and Course Use the Promo Code : AMAZINGFBA20 for a Discounted Price for MyProductModel  

Tip Of The Week: How do you improve your e-commerce conversion rate? Start by looking at your mobile usage stats. In this tip Jason shows how to use free tools to examine and then improve your mobile e-commcere conversion rate. We show you how using a simple tool in this weeks  

Every decent Amazon seller knows that getting great images is really vital for their Amazon listing. That is absolutely true. They also know that hiring a great photographer or image professional is critical. Sadly, when it comes to communications, many Amazon sellers snatch defeat from the jaws of victory! Creating a great brief for your image pro's is vital -hence today's show with our expert, Daisi Sepulveda. What You'll Learn Making a Brief for an eCommerce Video Content Creator Resources Here UGC Guide and Course Use the Promo Code : AMAZINGFBA20 for a Discounted Price for MyProductModel

Let's face it. Insurance isn't something that most of us get excited about. When you sell on Amazon, it's not usually your top of mind worry either. But maybe it should be. Getting your account suspended because you don’t meet Amazon seller insurance requirements is no joke.  If you get it wrong, it can be a bigger issue than you might realise. With recent changes like the one on the .com platform around  deductibles,  or Issues with recalls, we need to be more aware than most of us are about the details of Amazon selling insurance.  Luckily today's guest, Ashlin Hadden, is perfectly placed to   guide us through these rapids. With a professional advisor and proper insurance in place, you’re doing what all professional business owners should: protecting your business. What You’ll Learn The requirements for selling on the .COM platform. Do other companies outside US, sue as much as US? Understanding the price of having a premium product A list items to stay away from unless ROI is great Resources Get Your Sample Insurance Policy here! For more information about Ashlin you can check her out on their website.

Adding a new e-commerce team member doesn’t have to be hard. There are 3 areas to cover when you’re bringing on your new person – and in this 2-part episode we’re going to explore the initial details. What you’ll learn The 1st and 2nd Core areas of onboarding for new team members – and how to get them right. Tech Tools & Processes that help make onboarding easy. Tools Skype Chat Google Docs Zoom Airtable Daily Email/Template Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Born in Vancouver, BC. Lives in Boise, Idaho. Trent is a serial entrepreneur, the founder of Flowster.app and a complete nerd when it comes to creating scalable business processes. Prior to starting Flowster, Trent was the host of the long-running Bright Ideas podcast where he spent over a decade interviewing successful founders. In addition to being CEO of Flowster, Trent is also the founder of a digital agency that ranked #254 and #622 on the Inc 5000 in 2019 and 2020. Profit Magazine named Trent’s first company as one of Canada’s PROFIT 100 fastest growing companies for two years in a row before he sold it in 2008. Business in Vancouver magazine named Trent a Top 40 Under 40 Entrepreneur. What You'll Learn Why you need an SOP When do you need an SOP Checklist for when you need an SOP What should You tackle first? How to create an SOP How to make an SOP for something you haven’t done before, How to keep up to date How to share with team Easy way to run and grow your business Resources Here Find out more about Flowster Here!

Born in Vancouver, BC. Lives in Boise, Idaho. Trent is a serial entrepreneur, the founder of Flowster.app and a complete nerd when it comes to creating scalable business processes. Prior to starting Flowster, Trent was the host of the long-running Bright Ideas podcast where he spent over a decade interviewing successful founders. In addition to being CEO of Flowster, Trent is also the founder of a digital agency that ranked #254 and #622 on the Inc 5000 in 2019 and 2020. Profit Magazine named Trent’s first company as one of Canada’s PROFIT 100 fastest growing companies for two years in a row before he sold it in 2008. Business in Vancouver magazine named Trent a Top 40 Under 40 Entrepreneur. What You'll Learn The power of using a VA How to hire and onboard a virtual assistant Ask people to do tasks that they have done before You can work with people on ways to save money on the front end so you can pay them more Resources Here Find out more about Flowster Here!

Adding a new e-commerce team member doesn’t have to be hard. There are 3 areas to cover when you’re bringing on your new person – and in this 2nd part of our 2-part conversation, we’re going to cover dig into the final details. What You'll Learn The 1st and 2nd Core areas of onboarding for new team members – and how to get them right. Tech Tools & Processes that help make onboarding easy. Tools Slack Asana Chromecast Monday Transferwise Paypal Zoom  

Chris started his career in CPG, having worked for companies ranging between 20-500MM as a Sales & Marketing Executive. Leveraging his experience, he has consulted all types of digital and omni channel brands. As a co-founder of Global Wired Advisors, they have closed over $1 Billion in transactions. What You'll Learn Who are global wired advisors? Understanding the difference between Bankers and Brokers What is going on with Amazon Aggregators? What should business owners do? Should business owners sell now? Chris shares his two cents on selling. Should you sell now in this environment? Resources Apply now for a Consultation with SouthCol!

Chris started his career in CPG, having worked for companies ranging between 20-500MM as a Sales & Marketing Executive. Leveraging his experience, he has consulted all types of digital and omni channel brands. As a co-founder of Global Wired Advisors, they have closed over $1 Billion in transactions. What You'll Learn A history with Yoni from Escala and Multiply Mii called with an idea The 4 Areas that they help with a brand : Capital, Product, Marketing and Target businesses What target business does GWA offers The parties involved with GWA The aim of GWA is to sell the best strategic fit. Finding the Opportunity to “Really become a brand” Resources Apply now for a Consultation with SouthCol!

The Live-Selling wars are heating up like never before. In recent months Amazon has doubled down on it’s push to make e-commerce a live event by offering it’s LiveStream App, and Nordstrom has launched it’s own live-stream channel. In this episode we discuss how to leverage this new opportunity to sell more goods with 3 quick tips. What you’ll learn The basic selling formula. How Amazon and QVC are going head-to-head How Streamyard can power your live selling efforts. How to make on-screen text overlays for live selling using Canva. 3 Proven ways to hook a viewer at the start of your live-selling video Resources for product development https://www.amazon.com/live www.streamyard.com www.canva.com Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Amazon Keyword Research Tool is a tool used to find relevant keywords for your product or service. You can use this tool to find specific keywords and phrases, perform regular keyword research, or just see which words people are using in their searches on Amazon. Jana Krekic have always wanted for YLT Translations to provide the top results for your brands. That’s why her team only hire native translators that are trained for Amazon translations. Her team consists of around 80 native speakers, who take content and localize it to convert and engage in a seller’s target country. Each translator is well-versed in Amazon’s dynamic and ever-changing landscape, and can perform the keyword research and write the copy needed to improve conversions and engagement. What You'll Learn The State of eCommerce - What Does it Mean for the Keyword Research Tool? Why are These Keyword Tools So Popular? What's Really Going on Behind the Scenes? The Amazon Keyword Research Tool is H10. Using H10 and Data Drive Tool to maximize nice research The Amazon Keyword Research Tool has limitations and can't answer every question. In this episode, Jana will demonstrate some of the limitations of the Amazon keyword research tool. Resources Find out more about Helium10! Get your SemRush App Here!

Amazon Keyword Research Tool is a tool used to find relevant keywords for your product or service. You can use this tool to find specific keywords and phrases, perform regular keyword research, or just see which words people are using in their searches on Amazon. Jana Krekic have always wanted for YLT Translations to provide the top results for your brands. That’s why her team only hire native translators that are trained for Amazon translations. Her team consists of around 80 native speakers, who take content and localize it to convert and engage in a seller’s target country. Each translator is well-versed in Amazon’s dynamic and ever-changing landscape, and can perform the keyword research and write the copy needed to improve conversions and engagement. What You'll Learn Cutting costs from a lot of Sellers in 2022, What Happened? Jana shares her experience when working with Aggregators during Covid Working with Big Corporations, is it worth it? The importance of documentation and creating a company deck What do corporates do badly that SMEs do well? What’s my competitive advantage as SME owner? Resources Find out more about Helium10! Get your SemRush App Here!

Famous Dallas Cowboys coach Tom Laundry once said, “A coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you have always known you could be.” As coaches and as coachees or mentees – we both know – coaching CAN lead to huge rewards for the business owner using the coach. In this special 2-part episode we discuss how to get the most out of your relationship with a coach and use a coach as a way to accelerate your business growth, profits and peace of mind! What you’ll learn What you can learn from guitar lessons with Segovia’s students 5 key functions of a high-impact coach 5 things to look for in a coach E-commerce and Business Books & Resources mentioned www.winningonshopify.com www.amazingfba.com/mentoring www.Theamazonmastermind.com Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Famous Dallas Cowboys coach Tom Laundry once said, “A coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you have always known you could be.” As coaches and as coachees or mentees – we both know – coaching CAN lead to huge rewards for the business owner using the coach. In this special 2-part episode we discuss how to get the most out of your relationship with a coach and use a coach as a way to accelerate your business growth, profits and peace of mind! What you’ll learn What you can learn from guitar lessons with Segovia’s students 5 key functions of a high-impact coach 5 things to look for in a coach E-commerce and Business Books & Resources mentioned www.winningonshopify.com www.amazingfba.com/mentoring www.Theamazonmastermind.com Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Ben Kotch is an investor and advisor in various early and growth-stage companies including many e-commerce ventures. He is an active Amazon seller and advises thousands of Amazon business owners through his affiliation with ALGO Online Retail What You'll Learn A Simple Division : Debt vs Equity Investments : Where to start when asking for a loan The equity for AccrueMe : “preferred equity investment” What's A Good Use for Loans? The value of equity and just how it makes sense for Ben An creating an Exit Strategy on your Loan Resources

Ben Kotch is an investor and advisor in various early and growth-stage companies including many e-commerce ventures. He is an active Amazon seller and advises thousands of Amazon business owners through his affiliation with ALGO Online Retail What You'll Learn How did Ben started his business with AccrueMe The value Ben saw in the market that gave birth to AccrueMe Why should you go to AccrueMe for funding? Understanding the Metrics of Investment The Upside Down of Debt What Ben sees on the profit trends on FBA Resources

Amazon is the largest e-commerce platform in the world. It has more than 300 million active users and 45 million products offered by third-party sellers. If you listen regularly to this podcast, you may have been selling on Amazon yourself for quite some time.  But many Amazon sellers struggle to get sales. Of those that do get sales, many fight to get mediocre profits. Even 7 figure sellers I work with have this challenge. The solution? Become a category king and dominate your niche! Before we dive into how to find a niche on Amazon, let's discuss what a profitable niche on Amazon is. A niche market is a market that focuses on a specific category or even single product type. There are many reasons why you should consider niching down if you want to increase sales and profits. In the US, the e-commerce market was valued at $601.75 billion in 2019 and is projected to reach $735 billion by 2027. Looking to get into the online retail game? Or increase your reach? Amazon is the place to be. But first, you'll have to find your niche—the sweet spot that gives you a competitive edge and makes you stand out from the crowd. You could go after a big category like "home goods," but if you're not big enough or well-known enough for them yet, it'll be difficult for you to compete against established brands like Home Depot or Lowe's. Instead of jumping into an already crowded market, consider going after an underserved niche where there's less competition and fewer sellers competing for search engine visibility. How Big Retailers Know Which Category will be Profitable? The truth is that nobody really knows why some categories are more profitable than others. There is no magic formula or algorithm to finding a profitable niche on Amazon and becoming your "category king." But there are some things you can do to increase your chances of success. Know Your Customer: The first step in any business venture is understanding who your customers are, what they want, and how much they're willing to pay for it. When searching for a profitable category I like to use tools like Helium10 so that I can see what people are searching for before entering into the market space as well as how much competition exists within each individual keyword phrase (and what keywords potential competitors might be using). This gives me an idea of whether or not this specific niche has enough demand from consumers while also keeping me away from areas where there isn't enough demand but still plenty of competitors in place already. To Do This Well You Need to Understand How Consumers Shop Online. To do this well you need to understand how consumers shop online. Amazon shoppers are no different from other shoppers. They like quick and easy, so they want to find what they're looking for as quickly as possible. Once you've done the research, it's time to niche down even further. If you choose a product category with too many competitors, it will be hard for you to compete successfully against them because there's not enough room for all of your listings on page one of Amazon search results (and that's where most customers start). You can use a tool like JungleScout that helps with finding profitable niches on Amazon by analyzing their data and giving insights into which products have good demand potential based on estimated sales volume per month or year over time - this way it will be easier to find those products that might perform better than others within certain categories or subcategories which tend not only sell better but also rank higher in terms of overall search performance due mostly due increased visibility among consumers who aren't aware yet about what exactly they want most urgently at any given moment when looking up something specific online (like "men's watches"). How to reach out to consumers If you're a consumer, and you're looking for a solution to your problem, where do you go? As the top 20% of consumers will have already ...

Inventory is the lifeblood of your Amazon business. It's how you make money, and it can also be how you lose money. The trick is to make sure that you're using inventory to make decisions in your business rather than letting it control your business decisions. This post will cover a few different ways that inventory can be used to manage your Amazon business. The new Way to Use Inventory Inventory management at its most basic is a system of passive records. Of course, it's important to get this organised. But to leave it at that is to miss a lot of critical insights into your consmers.  IInventory isn't just a record of widgets sitting in warehouses. In fact, it is a system of engagement with customers. It’s more than just a record: it tells a story about each customer and the interactions you have with them over time. Inventory reconciliation can be one of the most challenging parts of managing your Amazon business, but it doesn't have to be! You can use inventory reports to avoid shortages or out-of-stock products, improve order fulfillment times, and make better decisions about how to grow your business. In this article, we’ll give you some tips on how to use inventory reports  to actually see customer trends. You need a place where you aggregate data You need a place where you can aggregate data. This sounds like a no-brainer, but it’s actually the root issue with inventory management. You need to think about how your product is going to be sold, how you will get it out the door, and how your inventory system needs to support all of these things. The best way to do this is by thinking about how your inventory system will support each of these things individually. Then, once you’ve figured that out, you can start combining them together. Looking for inventory clues When you're looking to identify the root cause of your inventory gaps and ways to solve them, it's important to consider the inventory clues you'll find in your product data. First of all, when you look at current orders and sales for a particular SKU (stock keeping unit), you can see if there are any patterns that might indicate an upcoming gap. If a product is selling well and will soon be out of stock, it's time to order more from your supplier or manufacturer. This is especially true if your costs per unit are going down as well—that means you'll earn more profit by ordering more units! Next up: customer insights! While analyzing customer data may sound like an overwhelming task because of how much information is available with Amazon Fulfillment API tools like Seller Central Reports and Vendor Central Reports, we've got some simple tips for getting started on this fun project that could lead to some big improvements in your business strategy: 3 Key Data points to look for There are three key data points you need to look for: Date received to date bought by consumer Accounts receivable ageing by product Market sizing. This is how you get the size of your market. The first step is to identify what product or service you are selling, then using that as a benchmark to find out how many people are buying it. This can be done either through surveys and interviews with potential customers or by looking at sales data from your current customer base. Then, you can use this information to find out how much each of your customers are spending on your product or service. This can help you get a sense of how big your market is and what kind of potential there is for growth. Once you have this data, it becomes much easier to make financial projections about future sales and profits. The Magic of  Aged Accounts Receivable Aged accounts receivable (A/R) is the term used to describe the amount of time that passes between when you sell a product and when your customer pays you for it. For example, if a customer buys an item from your store and doesn't pay within two weeks, the A/R would be calculated as 2 weeks.

How Does Entrepreneur Decision-Making Work in Real Life? Entrepreneur decision-making works in a variety of ways. Some entrepreneurs prefer to gather as much information as possible before making a choice, while others simply follow their gut instinct.Regardless of your decision-making style, there are some principles you should always keep in mind: Action creates momentum – If it feels like you've been stuck on the same problem for days or weeks without any progress, then it's time to take action. The more time spent thinking about how to solve a problem without actually solving it will just lead to frustration and an eventual loss of motivation. Test, measure and adjust – When trying out new ideas or testing different solutions for problems, don't be afraid to try things out quickly and see what works best (and what doesn't). Use this process as an opportunity for learning so that you can learn from your mistakes while they're still fresh in your mind instead of later down the road when they might have cost you too much money or time already! Tactics for Entrepreneur Decision-Making- the Decision Matrix There are three things that you need to do in order for you to make your own decision. List the criteria for the decision. This is the most difficult part because it requires thinking about what matters and why it matters, but it's also very important because you cannot weight a factor if you don't know what's being weighted in the first place. Make sure that all of your criteria are relevant and appropriate for this type of decision and don't get carried away by making too many or too few; this will help keep things simple later on when calculating weights (see below). Weight each of your criteria numerically based on their relative importance (so 1 = high priority, 5 = low priority).  To give an example: suppose I'm trying decide whether or not I want my ecommerce website design done by an agency rather than doing it myself. One of my criteria might be "time spent", since developing websites takes me a significant amount of time every month; another might be "cost", because agencies often charge more per hour than freelancers do; yet another could be "quality", since hiring someone else means outsourcing some portion of control over how well my site looks or functions. The point here is not just listing them—you must think about these factors as having varying levels of importance depending upon which option(s) from our list above we're considering at any given moment during our evaluation process (e.g., if we had chosen Option A instead of Option B above, then cost would no longer matter as much). Do the math After this, it's a simple question of multiplying and comparing: In a spreadhseet, you'd have the options or choices in rows down the left-hand column, and the criteria along column headers going left to right. for each possible option or choice, you'll have a score for each criterion For each of these criteria boxes, you'll need to multiple the score by the "weight" you've  which of multiplying the score of each possible option by the "weight" for  has the most weight then add up the total score across all the criteria for each decision. Finally, look at the relative scores of each decision. Like most maths, and all spreadsheets, it's so much easier to see it on an actual spreadsheet! Ken has created a spreadsheet that does the heavy lifting for you with a structured approach to decisions. Click here for his free entrepreneur decision matrix spreadsheet. Have 3-Year Financial Forecast! And Measure the Decisions  A key tool for Entrepreneur Decision-Making is financial forecasting. It is imperative that you know where your business is going, so it’s important to have a financial forecast. You need a forecast for the next 3 years - and this is a shock to many entrepreneurs because they don't even have a one-year forecast.

Ken Burke, founder and CEO of The EntrepreneurNOW! Network, is a speaker, serial entrepreneur, mentor, and author. Ken founded MarketLive, a market-leading, enterprise class eCommerce software platform used by major merchants generating $2b in online sales through the platform. He sold MarketLive to Vista Equity Partners in 2016. Ken authored the book, “Intelligent Selling: The Art and Science of Selling Online,” as well as hundreds of industry articles. He earned his MBA in Entrepreneurship from the USC Marshall School of Business, which later awarded him the honor of Entrepreneur of the Year. Business strategy during recession for Amazon & E-commerce Introduction The economy is in the midst of its longest recession in a century. In this volatile time, it’s important that you have a strategy to stay viable as an Amazon and e-commerce business owner. Let's take a look at some ways that you can keep your business moving forward during these uncertain times! Ken Burke's 2001 Dot.com Crash experience Ken Burke was a serial entrepreneur with a background in technology. He started out selling computer hardware before moving onto software development, building his first company from the ground up. At the height of the dot com crash his company survived. What happened on the other side of the recession was much better: in 2003-06, they had their best season ever.  Europe and UK may face long-term recession or stagnation The current recession is not simply a one-off event. It's the beginning of a long period of stagnation, or even decline, for Europe and UK as well. The reason is simple: Gas is not only in short supply now, it will be for the foreseeable future because shale gas production has peaked out in US and no country outside of US has made any significant progress towards developing shale gas reserves. Germany was the engine of European economy due to its large manufacturing sector which depended on cheap energy (gas) to be competitive globally. Germany's industry accounted for 36% share of total industrial output globally in 2015[1], making it largest exporter among all European countries. But that can't continue as German manufacturing industry depends on cheap energy and Russia controls almost all gas supplies into Europe through Nord Stream pipeline and other pipelines through Eastern Europe. Nowadays gas prices have increased significantly due to sanctions imposed upon Russian Federation following annexation Crimea from Ukraine. Sadly there is little prospect of that changing. Even if Russia makes peace soon, its supplies will have been permanently damaged, or shut down.  Luckily there is an alternative, giant market of consumers which should be thriving... How to play in Amazon USA, the most robust market The medium-term economic future for the USA is much brighter than for Europe. The US has become self-sufficient in oil and natural gas. North America also has some of the healthiest demographics in any developed continent, with a combined population of over 500 million people. It has a continent-sized market in North America with NAFTA 2.0 with Mexico and Canada expected to boost trade even further (and hopefully end tariffs). America is also retooling its factories at record speed, which is helping to generate jobs and investment at home rather than overseas as well as keep import costs low while boosting exports - all good news for eCommerce players like Amazon!  Taking over your market The period towards the end of a  recession can be a period where you get to take over the market. The main reason for this is because of the economy in general and how people react to it. When there is an economic downturn, many companies will either merge or go under completely because they cannot afford to stay in business anymore. This means that there is more room for new competitors who have been able to survive during this time and are looking for ways to make money back into their company's p...

In our initial episode about Paid Social” we outlined 3 big goals. In today’s conversation we’re going to give you “The Secret” and really unpack the 3 big ideas with tons of actionable tips and insights for each. What you’ll learn Who Paid Social Media Ads are ideal for The ideal sequence of when paid social media ads should be used A budget rule-of-thumb for paid social media advertising How long it takes to get results with paid social media ads A terrific Facebook Video Strategy that works really well in support of paid social ads. How Pinterest Promoted Pins factor into paid social media ads Ad Instagram Ad strategy that you can start with just a few dollars. Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

In our initial episode about Paid Social” we outlined 3 big goals. In today’s conversation we’re continuing the discussion about how to engage warm traffic with effective social media advertising. What you’ll learn A 2 Step Process for getting cold traffic very inexpensively, then retargeting them via (Facebook). Engagement goals and other non-sales goals for warm traffic. remarketing via (Google Adwords). How Live-Commerce Techniques and goals are transforming e-commerce businesses Forming direct sales strategies with social ads Resources Mentioned www.streamyard.com www.commentsold.com Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

What is Drop Shipping? Drop shipping is when a store doesn’t keep inventory and instead buys from a supplier and then has the supplier ship directly to the customer. This is a fulfillment method for online retailers. Drop shipping gives you a chance to sell products that you don't have in your possession, which means you can offer more products for your customers. There are many benefits of drop shipping. Another simple but easily-missed point is that because it demands no cash tied up in inventory, it is much more scalable if it takes off. All ecommerce operators reach a  a point where growing their business means expanding the catalogue a lot. Private label sellers often find they need to find an extra $100-500,000 in funding. Many simply can't do it; others have to enter the risk of very large loans or investing their life savings. The high-ticket dropshipping model just bypasses this issue.  Drop Shipping Explained Drop shipping is a method of selling goods without having to keep them in stock. In this case, the supplier ships the goods directly to the customer. The retailer receives payment from their customers and pays the supplier afterwards. This allows you to have a website or physical storefront without having to purchase product ahead of time and risk tying up your capital in inventory that might not sell. Again though there are now ready off-the-shelf solutions, so technical know-how is no longer much of a barrier.  High-Ticket Drop Shipping High-ticket drop shipping is a business model that focuses on selling high-ticket items. The reason this type of drop shipping works so well is because high-ticket items have much higher profit margins, which means you can make more money with less sales. High-ticket items also require far fewer customers to generate the same revenue as low-margin products, which makes it easier for your company to grow . You’ll find yourself with fewer customers overall because each one will be spending a lot more money than someone who buys a lower priced item. That means you have far fewer headaches when it comes time to manage your customer base! How Does Drop Shipping Work? Drop shipping works like this: You find a product you want to sell, and then you make an agreement with the supplier that lets you sell it without having to buy the inventory first. The arrangement is simple—you tell your drop shipper what products you want to sell, and they take care of everything else. They will handle orders, ship them out directly to customers, collect payment from customers on your behalf, and then ship those items directly back to you after they've been sold (this is called "fulfillment"). And because the suppliers have already taken care of the cost of buying the inventory for themselves (which is usually pretty high), there are usually no setup fees involved in starting a drop shipping business! How to Start Your Dropshipping Business! Now that you know what drop shipping is and how it works, let's get started with setting up your own dropshipping store. First, register a domain. Ben uses Namecheap but anywhere similar will do. $12 a year Get a google workspace and an email address for about $12 a month.  Get some professional but simple branding work done. You need a logo and a simple home page with sliders or well laid-out images. Cost around $100. Set up Shopify. This will be your online store platform where all of your products will be stored and sold from. That costs around $29 a month.  Next, choose a niche product that you want to sell in order to start building your customer base. You can make the most money if you find something that no one else has already started selling yet! It's best if this niche product is high ticket (at least $50) because it means customers are more likely to buy from you instead of going directly through Amazon/Ebay or whatever other site they're familiar with buying things on already.

The High-ticket dropshipping model The high-ticket dropshipping model has multiple moving parts. But the advantages over similar ecommerce models are considerable. Compared to Private Label, it has pretty minimal startup costs. We are talking a $few hundred not $10,000 plus. And compared to retail arbitrage, or online arbitrage, it is both more scalable in the short-term, and more sellable in the medium and long-term. In many ways, it combines the best of both of those business models. Creating a marketing funnel However, if you don’t have much money to spend on advertising, it’s better to focus on building quality backlinks from websites in high-trafficked niches. If you need help getting started with SEO for e-commerce and generating organic traffic then check out my previous article. If you are looking for a more direct approach, consider buying some Facebook ads or Google ads.  You can target people who are most likely to be interested in your products and services, reaching them with well-crafted ads. Keep in mind that this will likely cost more than building backlinks—but it’s worth it if you can get the results you want. It’s also important to note that you should use a variety of marketing tactics when trying to build your brand. This includes social media, email marketing, infographics and more. Here are some ideas for your brand-building strategy: Write blog posts that provide useful information about your industry or niche. These are excellent content marketing tools because they attract links from other websites, which improves your search rankings. You can also use them to attract more followers on social media platforms such as Facebook and Twitter. Can you apply Dropshipping  Tactics to your own Private Label? You can use the same tactics of dropshipping. But instead of getting a third party to manufacture products then ship them to your customer, you yourself manufacture and ship them to your customers. The great thing about this is that you don't have to stick with just one product category or type. You can actually run your own private label brand if you want. All that's required is some research on what works well with this model. You'll work from developing the brand name itsel. Then you'll need to pick out which products you will sell under it and how much you will invest in marketing them. At the end of the day, it comes down to what you want out of your business. If you are looking for a quick way to make money and don't mind spending some time researching and developing products that will sell well, then dropshipping may be right for you. If, on the other hand, you want to build a stable and long-term business that will provide consistent income for years to come, then private labeling may be better for your needs. Can a High-ticket dropshipping model create a  Sellable business? The value of your dropshipping business will increase as you add more marketing assets. So it’s important that you decide how best to do this. You can choose to build an online store yourself or pay someone else to do it for you. Whichever option you choose, it will help improve the value of your business and increase its overall worth. However, if you have a high ticket product range and want to sell them on your own storefront, then there may be fewer buyers interested. That's because they don’t fit into the price range that most people are looking for when searching for products online (i.e., under $100). This means that building up these kinds of stores might not be as easy as they seem at first glance; however, if you do it correctly, they could still prove profitable over time. Another way would be through Private Label (PL), where instead of buying products wholesale directly from suppliers themselves like other sellers do - sellers who use PL buy them from wholesalers instead but put their own brand names on them rather than using expensive ones such as Nike or Apple etcetera which woul...

E-commerce buying and selling is skyrocketing in use. Now is the perfect time to launch your own Shopify store and begin selling direct to the public. In this 2-part episode, we begin exploring 9 valuable reasons that is true – drawing on Jason’s work with thousands of Shopify store owners as well as his own experience with brands. What you’ll learn Reason 1-5 of why Shopify is a terrific solution for e-commerce sellers. What keeps Amazon seller’s up-at-night and how to solve it The alternatives to Shopify that you should avoid How building a business with a partner that has opposing objectives can ruin things Resources Mentioned E-Commerce Sales Will Explode This Holiday Season Shopify Power: Build An Ecommerce Website Using Shopify Sell online with Shopify

E-commerce buying and selling is skyrocketing in use. Now is the perfect time to launch your own Shopify store and begin selling direct to the public. In this 2nd part of our 1-part episode, we finish exploring 9 valuable reasons that is true – drawing on Jason’s work with thousands of Shopify store owners as well as his own experience with brands. What you’ll learn A surprising list of business experts that support Shopify Understanding the use of Shopify as the e-commerce hub-and-spoke tool. How integration partners are pushing Shopify further ahead. A consideration of the Apps available on Shopify Resources Mentioned Shopify Power: Build An Ecommerce Website Using Shopify Sell Online With Shopify Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

In this 2-part episode we discuss adding charitable giving to  your e-commerce work and how it can help change the world, strengthen your brand, and build a better business. We also discuss challenges and cautionary tales too. You’ll learn Common legal structures for charitable work Create ideas for giving (beyond cash) to charities Michael & Jason’s shared 1st charity experience Cautionary Tales from McDonald’s Founder’s Estate to Tom’s Shoes Tips for finding a charity that you resonate with How to get started in a wise way Resources Mentioned www.sewpowerful.org www.mealsonwheelsamerica.org www.voluntaryworker.co.uk/volunteering-with-meals-wheels.html

In this 2-part episode we discuss adding charitable giving to  your e-commerce work and how it can help change the world, strengthen your brand, and build a better business. We also discuss challenges and cautionary tales too. You’ll learn Common legal structures for charitable work Create ideas for giving (beyond cash) to charities Michael & Jason’s shared 1st charity experience Cautionary Tales from McDonald’s Founder’s Estate to Tom’s Shoes Tips for finding a charity that you resonate with How to get started in a wise way Resources Mentioned www.sewpowerful.org www.mealsonwheelsamerica.org www.voluntaryworker.co.uk/volunteering-with-meals-wheels.html

Brand Identity Definition If you're selling your products on a website, it's important to give your brand an identity. The best way to do this is with a brand strategy. A brand strategy can help you understand what makes your product different and how to communicate that to customers. It also helps you decide when it's time for a rebranding project! What is a brand identity definition? A brand identity is everything your customers associate with your products and company. A brand strategy is a plan that helps you decide how to communicate your brand. This includes things like what your logo will look like, what colors you'll use and how you're going to talk about yourself. It's all about understanding who your customers are, what they need from your product, and how you can meet those needs better than anyone else! Timestamps for Podcast [00:35:02] Intro: Curated Marketplace For Custom Design [01:41:77] What is Brand Identity? [03:37:07] Crowdspring Offers A Wide Variety of Designer Types [06:49:41] Brand Perception is Guided By The Companies [09:37:82] The Product Has To Be Good But So Does The Whole Experience [12:07:36] What Are The Steps In Creating A Brand Identity From The Beginning? [12:38:30] The Core Brand : Visual Identity [14:03:35] Transferring Your Design Into Packaging [16:37:32] Brand Consistency [18:13:38] How Do We Get Consistency? [20:53:53] How Do We Create Brand Guidelines? Is it Necessary to Hire Someone? [23:03:76] Branding and Packaging [27:22:64] Crowdspring and their Services About our Guests- Jason Byer and Crowd Spring Are the  99 Designs of e-commerce with two tweaks. Firstly, they have a very highly selected set of designers.  Secondly, their designers  include  industrial designers (aka product designers). Get Your Free Custom Brand Report Here ! Get a $35 Off Your First Product Here : Get It Here !  What Does a Successful Brand Identity Look Like? If you want to build a successful brand identity, you need to start with the basics. Brand identity is the sum of all the elements that make up your brand. This includes not only what you say about your business and how it’s doing, but also how others perceive these things by looking at your logo and website, reading some of your content on social media, or watching videos on YouTube. A successful brand identity is one where all these components work together as part of an overall strategy that helps customers understand what makes this company different from others in its market niche. It does this through: A well-defined promise or value proposition; Clear messaging (whether verbal or visual); Consistent branding across platforms; and Appropriate use of colours, fonts and imagery How to Create a Great Brand Identity for Your eCommerce Business A great brand identity is one that is recognizable and distinct. This means that it should be consistent across all channels, including your website, social media platforms, packaging and marketing campaigns. Being consistent with your brand identity will allow you to establish trust among consumers. That helps them feel comfortable making purchases from you. Your logo is the key component of this. Make sure it stands out from other logos. That way, customers can easily identify it as belonging to your company. Your logo should also be memorable so that customers don't forget about you after they've made their purchase. By using the same colors, fonts and images consistently throughout all aspects of your business operations (including packaging), you'll create an environment where customers are comfortable making purchases from you. They know exactly what they're getting into when they see one of these characteristics associated with any type of product purchased online. How to Get Consistent Brand Identity Creating a strong visual communication system helps make sure everyone at your company knows how each other's work fits into the bigger pictur...

Ecommerce is a constantly changing landscape. Learning the basics of product design can help you keep up with the latest trends and techniques. Getting a custom design is one of the most exciting opportunities in ecommerce.  The biggest reason is making a differentiated product. Plus it’s more creative.  Timestamps for Podcast [02:24:59] Why Go Custom Product? [03:27:88] Isn't It Too Expensive? [06:10:26] Which is the Hardest Part of the Process? Isn't it Manufacturing? [06:38:98] Innovate within Your Space and Create Excitement [07:14:43] Getting Focus Group Feedback [13:32:04] From Product Design To Manufacturing [14:51:22] Industrial Designer or Product Design? [19:28:66] A Good Industrial Designer About our Guests- Jason Byer and Crowd Spring Are the  99 Designs of e-commerce with two tweaks. Firstly, they have a very highly selected set of designers.  Secondly, their designers  include  industrial designers (aka product designers). Get Your Free Custom Brand Report Here ! Get a $35 Off Your First Product Here : Get It Here !  Why Custom Products are Worth While  Custom products are worth the cost because of their profitability, uniqueness and usefulness. They can also be more fun for you and your customers. When you work with an industrial designer, they can help you solve a specific problem or create something that is uniquely suited to your customer’s needs. What's the difference between an e-commerce industrial designer and an e-commerce product designer? Who is an industrial designer? Industrial designers are the ones who are responsible for the look and feel of your product. They specialize in developing products that have an emotional connection with people — they create experiences, not just objects. While their work includes technical aspects, it also involves creating positive emotions, like joy or nostalgia. What's the Difference Between an e-commerce Industrial Designer and a Product Designer? The main difference between these two roles is their focus: An e-commerce industrial designer focuses on how products will look online. An e-commerce product designer usually creates physical objects that you can touch, see, or feel in person (like furniture). Creating industrial design with great utility. Your first goal should be to define the problem. Don't start with a solution. A great industrial designer will ask you questions and get you thinking about why you are doing what you're doing and how it affects people's lives. I don't know anyone who would happily use a product they hate, so if the answer is "because that's what we do," then that's not good enough! You need to think about how your product fits into people's lives, what their goals are when interacting with it, how it can improve those interactions for them (and for other people who interact with them as well). There are two things here: 1) have an idea of what kind of person is going to use this thing; 2) know where they're coming from in terms of their experiences using other products before this one—what was okay? What wasn't? How could some of those things be changed? That sounds like a lot--but really all those questions boil down into one thing: make sure users have an experience worth investing time into! Finding the best form for your e-commerce product. When it comes to e-commerce products, form is everything. It's tempting to think of form as something that just "looks nice," but in the world of industrial design and product development, form and function are inseparable. If a product doesn't do what it's supposed to do (like make coffee), then any attention paid to its appearance is wasted effort—or worse, it may even hinder its performance. So what makes good product form? Products with good form are ones that work well, and they look good while doing so. A classic example of this is the iMac computer: not only does the product fulfil its primary function (computing),

Getting started as an e-commerce seller can feel intimidating in quite a few ways. One of the ways is the feeling that you have to spend a large budget just to get started. In today’s show our panel explores how you can use just $100 to get started in eCommerce. We explore physical product options, how to work with Kindle and physical books. We touch on marketing on and off Amazon. We also discuss how to approach influencers in an original way. We touch on how to approach a potential business mentor, and how you might put together your own peer group for peer-to-peer learning as well. What you’ll learn How to use Kindle books as cheap marketing tools How to approach an experienced potential e-commerce mentor Ways to influence multiple influencers for $100! The easiest way to get started in eCommerce for $100 Why checking product-market fit might be the best use of your budget! The hack for getting free marketing books to learn from When should you quit the day job and go full time with your own ecommerce business? Some of the resources on this page may be affiliate links, meaning we receive a commission (at no extra cost to you) if you use that link to make a purchase. We only promote those products or services that we have investigated and truly feel deliver value to you.

Data-driven decision-making is a process that helps you identify the key performance indicators (KPIs) that best describe your business. It also helps you identify the metrics that best reflect the impact of the changes you're making in your business. It's an analytical approach to decision-making that requires data. Instead of that, how do we get this to work in the real world? What do you measure? More importantly, how do you make sure that the metrics you choose are actually relevant to your business model? In this blog post, we'll explore some common KPI mistakes that many sellers make. We'll look at how data-driven approaches can help prevent these issues from happening. Time Stamps [00:43:43] What is Data - Driven Approach To Managing An E-Commerce Business? [01:45:70] Data Driven vs Data Informed is Better [02:51:15] Why Does Data-Driven Decision-Making Matter? [07:52:73] The S.M.A.L.L. Framework [12:40:56] KPIs You Need For Your Business [15:54:78] Are Revenue Targets A Good Plan? [19:10:33] Industry Benchmarks for Gross Margins [21:57:07] For the "Leveraged"Business - KPIs [27:29:95] Have 1 KPI Per Marketing Person [31:56:01] Data Drive U: Services This article will cover: Why data-driven decision-making matters How we can put in place a data-driven approach? What are some of the ways that you can use data to make better business decisions? How will this help your ecommerce business grow?eCommerce   What is a Data-Driven Approach to Managing an e-commerce businesss ? A data-driven approach to managing your e-commerce business is about using facts and figures to make decisions. This is better than just relying on your gut instinct. The process involves collecting data, analyzing it and making decisions based on the analysis. The Data-Driven Approach has three main steps: Collecting data in a systematic manner; Analyzing and interpreting the collected data. We are look fordecision-making meaningful insights for better decision making; and finally, Using those insights to improve marketing strategies, customer service or other areas of your e-commerce business. Data-Driven Data-Driven vs Data-Informed Why Does Data-Driven Decision-Making Matter? Data-driven decision making is an important part of any business. It allows you to make better, more informed and more accurate decisions—which in turn leads to more effective business processes. The reason it’s so important is that good data gives you the insights needed to make smart choices. The choices could be about your product or service development, or marketing and sales strategies. Either way, your choices can dramatically impact your bottom line. The problem is that most companies don’t have the right tools in place to get their data and turn it into actionable insights. And those that do often find themselves drowning in an ocean of information. As a result, they waste time trying to figure out what their customers really want. Worse still, they make decisions based on bad data. More Data Doesn't Mean Better Decisions! You don't need MORE data per se. Rather, you need better and more relevant data that can help you make better decisions. More data doesn’t mean better decisions! Data can be misleading - It’s important to understand how your customers are using your products and services. But understanding the customer journey is only half of the equation when it comes to using Amazon KPIs. You may, for example, place too much weight on negative reviews. You need to have context or perspective on why something happened in the first place (if you're able). Data can be misinterpreted. How many times have we seen people get fired up over something that turned out to be false? The same thing goes with sales numbers. One set of results from one customer won't tell us enough to generalize safely. How Do We Install Data-Driven Decision-Making? You start by understanding what type of data you should collect....

Okay, so you’re an Amazon 3rd Party Seller and you’ve decided that using Amazon ads (formerly AMS) could boost your sales and your business. Now how to start? You could plunge into the 100s of technical podcasts, blog posts and youtube videos. But if you’re new to the whole ad platform, that’s going to be overwhelming. Instead, let us walk you through the basics and give some simple but battle-tested guiding principles for practical action to boost your sales. You’ll learn What Amazon ads are – and the options What Amazon advertising can do to boost your sales The make-or-break relationship between the ads and product listing The hidden power of “intent” – what it is, why it matters How to find additional keywords – without overhelm How low price points impact the economics of advertising The simplest way to set up Amazon ads How to get Amazon to do the heavy lifting for you The simple hack to find the best keywords for your Amazon listing The one tool that covers pretty much all your keyword research needs The critical importance of 3 financial numbers Why low price points can kill your profit Resources mentioned https://advertising.amazon.com/ – the login to amazon advertising (& Amazon’s explanations) Google Ad Quality Score Definition Helium10 Amazon Research Tool Suite Viral Launch Amazon Research Suite Merchantwords Google (and possibly Amazon) keyword suggestion & search volume tool Keyword Inspector (Reverse ASIN tool -meaning that you put in the ASIN -Amazon ID number – of a product into the tool and it gives a list of keywords for which the product is ranking) Interviews with Amazon Ads experts on 10K Collective podcast: Amazon ad management with Brian Johnson of Canopy Management Amazon Advertising and profits with Mike Zagare  of PPC Entourage

Okay, so you’re an Amazon 3rd Party Seller and you’ve decided that using Amazon ads (formerly AMS) could boost your sales and your business. Now how to start? You could plunge into the 100s of technical podcasts, blog posts and youtube videos. But if you’re new to the whole ad platform, that’s going to be overwhelming. Instead, let us walk you through the basics and give some simple but battle-tested guiding principles for practical action to boost your sales. You’ll learn How long tail keywords can win you big markets…over time Why advertising matters – and what it CAN’T do for you… The 3 main ways that Amazon ads help your product rank organically Why this “second order” effect is your PRIMARY goal with Amazon ads The “red herring” metric to AVOID using – and what to use instead The most cost effective way to use Amazon Sponsored Brands The power of video ads and how they fit into the Amazon ad world Evaluating your personal style and how this impacts your ad strategy Jason’s “Magic Trick” to get cheap exposure for your brand Resources on Amazon Advertising https://advertising.amazon.com/ – the login to amazon advertising (& Amazon’s explanations) Google Ad Quality Score Definition Helium10 Amazon Research Tool Suite Viral Launch Amazon Research Suite Merchantwords Google (and possibly Amazon) keyword suggestion & search volume tool Keyword Inspector (Reverse ASIN tool -meaning that you put in the ASIN -Amazon ID number – of a product into the tool and it gives a list of keywords for which the product is ranking) Interviews with Amazon Ads experts on 10K Collective podcast:  Amazon ad management with Brian Johnson of Canopy Management  Amazon Advertising and profits with Mike Zagare of PPC Entourage  Amazon Sponsored Brand ads with Ritu Java of PPC Ninja

Amazon SEO – or “Amazon keyword ranking” – is rightly more than important – it’s almost an obsession of any focussed ecommerce operator who sells on Amazon. Getting your product listing to rank on Amazon for powerful keywords is indeed incredibly important. Having talked in the last live (or last 2 podcast episodes) about the strategic drivers, today we discuss some practical action steps to get your products ranked for valuable keywords on Amazon? What you’ll learn How boost traffic to your Amazon listing without advertising How to conduct keyword research How to refine your keyword lists Best practices in keyword research How A+ content impacts search engine optimization on Amazon Is adjusting the main image a good hack for SEO / ranking? Resources for Amazon SEO Viral Launch Helium 10  Jungle Scout Google SEO Training: clickminded.com by Tommy Griffith, former Head of SEO, PayPal & AirBnB amazingfba Steve Pope of My Amazon Guy

There are so many advertising platforms out there for ecommerce sellers these days. But not all platforms are created equal. Our intrepid quartet of ecommerce operators and thought leaders compare their favourite platforms and also the ones they love to hate! We cover Amazon ads, Google advertising (both Google text ads and Google shopping ads), Tiktok, Pinterest ads, Wallmart and Etsy advertising platforms. We also touch on some basic practices around ads: including making sure you don’t lose money on the deal! And how to link ad platforms into an ecosystem for outsized results. What you’ll learn Why goal clarity is critical before you start advertising Jason’s Amazon ads use…but it’s not what you think! Why Json loves to hate Facebook ads The under-used aspect of Google ads that can really increase your ROAS The importance of some critical numbers at the product level How understanding consumer behavior helps you engineer better performing ads Why and when you need to turn off your ads – even if they’re working! Resources Pin and Grow by Craig Lewis (Pinterest ecommerce agency – mention Amazing FBA or Michael Veazey for discounts and better service)

Why You Should Start an Agency Blog Introduction: Starting an agency can be a great way to get your foot in the door of the e-commerce world. An agency offers economies of scale, which means you can start with just one client and quickly grow to two or three. It’s an easy business to start up since the client pays for it, and if you manage it correctly, you can easily scale your agency from five employees to fifty. Jeff ran his own agency for nearly 20 years and knows first hand the rewards and pitfalls of running a successful business. Here’s what he had to say about why even run an agency in this day and age. Time Stamps [02:40:55] Why Even Run An Agency? [03:42:30] What Do You Call An Agency? [06:19:28] What Are The Downsides of Agencies? [07:57:49] Employees Don’t Get Better Then More You Hire [09:38:92] Using Data For An Agency [12:32:79] How Would You Manage The Client Asking For Goals That Don't Serve Them? [16:01:86] Why Are So Many Amazon Sellers Not Happy with Agencies? [20:36:51] How Do We Measure Management Effectiveness? [25:00:72] How Do We Deal with the Problem of Hiring One Person and Getting Another [28:16:48] How Do We Use Data To Run A Better Agency? What is an Agency? First off, it’s important to know exactly what an agency is. A freelancer is usually just one person working on their own projects, but an agency typically has a hierarchical structure with multiple people working within it. Jeff’s own agency started out with five employees, and eventually grew to over fifty. He left the day-to-day management of his agency to others so he could focus on larger tasks like strategy, branding, and marketing initiatives that would ultimately benefit all of his clients. Downside of Digital Marketing Agency While there are many benefits to running an e-commerce business as an agency, there are also some potential downsides that should be taken into consideration before taking the leap. For example, running an e-commerce company as an agency is like running any other inventory-heavy business—like FBA—in that if you land a new client on the agency side then you have to project how much work will need to be done in order for them to achieve their goals. Additionally, while people don’t necessarily get worse when you hire more of them (as opposed to machines or software), they are definitely harder to scale than other aspects of your business—and agencies don’t always sell what they do; instead they sell results! How Would You Manage Client Requests? Another problem that arises when dealing with clients is how do you manage requests for goals that don’t serve them? According to Jeff, the best thing to do here is never call out your client directly; instead approach it from a different angle by saying something like “here’s how I look at it...” This allows you take control of the conversation without alienating your client or making them feel bad about their decision making process. How to Manage Clients and Keep Them Happy : Digital Marketing Agency Blog Introduction: Amazon sellers often find themselves not happy with the e-commerce agencies they hire. They may feel that their goals are not being met, or that they aren’t feeling heard. That’s why it’s so important for agency owners to set expectations from the beginning and maintain a strong line of communication with their clients. In this blog post, we will discuss how to manage your clients and keep them happy, as well as how to measure management effectiveness. Structuring Account Managers The best way to ensure that your clients are happy is by having a solid structure in place for managing them. This means assigning an account manager to each client and scheduling a monthly management call with them. During these calls, you should communicate goals, results, and any changes that need to be made in order to better serve the client. Never Call Out the Client  When communicating with your clients,

Welcome to our discussion on influencer marketing mistakes that Amazon sellers often make! If you're an Amazon seller looking to leverage the power of influencers to promote your products, it's essential to avoid common pitfalls that can hinder your success. In this episode, we'll take a look at some of the most common mistakes that Amazon sellers make when it comes to influencer marketing, and provide tips for how to avoid them. Whether you're a seasoned seller or just getting started, these insights will help you get the most out of your influencer marketing efforts and drive more sales for your business. Background Tomer Hen is a business professional based in Los Angeles, California. He has a wealth of experience working with big companies, including Amazon, to help them gain users. In addition to his work with these larger companies, Tomer has also founded his own "biohacking" supplements brand. As he looks to build relationships with influencers, Tomer is launching his brand with a modest budget, relying on relationships and micro influencer strategies to help get the word out about his products. While he has done many interviews in the past, this is the first time he has spoken about his influencer marketing strategy. Before delving into the world of ecommerce, Tomer had a team that he worked with to build sales funnels and handle other important tasks like copyrighting. His company, Mobco Media, has been around for ten years, and he works with a variety of brands, with about 70% of his business focused on Amazon. Despite this focus on Amazon, Tomer is also interested in building relationships with direct-to-consumer (DTC) brands. Overall, he leans towards a DTC model, believing that most brands do influencer marketing wrong. Time Stamps 01:56:76 | An Introduction About Mobco Media 02:54:88 | How to Launch A New Brand? 05:50:68 | The Definition of Influencer Marketing 08:35:16 | How Are You Going To Find Or Choose The Influencers? 10:14:58 | What Drives Influencers? 13:35:56 | How Do We Go About This In Practice? 22:19:04 | Is Using Influencer Shout-Outs Work? 25:47:07 | How Do We Find Possible Influencers? 29:53:23 | What Servicers Do You Offer? How To Launch a New Brand on Amazon with Influencer Partnerships Welcome to our discussion on how to launch a new brand on Amazon with influencer partnerships. Our guest today is TOMER HEN of Mobco media, a company that helps brands grow their profits through influencer partnerships. Recently, Tomer had a conversation with a founder who is working on launching a new supplement brand. This brand is entering a very competitive space, but with the right strategy, it can still succeed. One key way to stand out is by building credibility and social proof outside of Amazon, and then using that to your advantage on the platform. For example, if an influencer endorses your product and directs their followers to your Amazon listing, it can be more effective than having a high number of reviews on your own. Tomer's company, Mobco media, has been around for 10 years and has worked with big brands like L'Oreal and Amazon. In the past two years, they have focused on helping supplement and food founders grow their businesses. If you're launching a new brand on Amazon, Tomer and his team at Mobco media can help you leverage influencer partnerships to give your brand the best possible chance of success. What Drives Influencers? Is It Just Relationship-Driven or Is it Real Business?  Influencers, also known as content creators or social media influencers, are individuals who have a significant online presence and the ability to influence their followers' purchasing decisions. Many influencers are able to monetize their platforms through sponsored content, where they promote products or services to their audience in exchange for compensation. But what drives influencers to create content and collaborate with brands?

When it comes to running an e-commerce business, it's easy to get overwhelmed with all the tasks that need to be done. One solution to help manage the workload is to hire virtual assistants (VA). A VA is a professional who provides support services remotely, typically online. They can take care of a variety of tasks, including customer service, managing social media accounts, data entry, and more. Time Stamps [03:00:12] Creating Job Descriptions [07:36:79] Onboarding Issues : Mistakes When Recruiting [13:31:56] VAs Leaving Under Distress [19:43:80] The Superman Syndrome [21:39:58] The VAA Philippines However, managing remote teams and Virtual Assistants can present its own set of challenges. Here are some mistakes to avoid when hiring and working with a VA: Not having clear job descriptions: Before hiring Virtual Assistants, it's important to have a clear understanding of what tasks and responsibilities you want them to handle. This includes creating documentation like job descriptions to ensure that both parties are on the same page. Not looking for specific skills and experience: If you're hiring a VA for a specific task, such as managing your PPC campaigns, it's essential to look for someone with relevant experience and skills. For example, a PPC VA should have experience with analyzing data and optimizing campaigns. Not providing upfront tasks and training: It's important to provide your VA with a clear understanding of what they will be trained on and the hours of work expected. A clear contract, including an NDA, should also be in place to protect both parties. Not properly verifying the VA's identity and location: It's important to ensure that the VA you are working with is who they say they are, and to verify their location. This can be done by getting their identification and other personal information. Letting VAs feel isolated: Even though everything is done online, it's still important to invest in creating a sense of community with your VA. This can include holding actual meetings, celebrating birthdays, and participating in events in their location (if applicable). Feeling the need to create a book of SOPs: It can be tempting to want to create a book of standard operating procedures (SOPs) for your VA to follow, but this can be a mistake. Instead, show your VA the responsibilities and tasks they will be handling, and provide training and support. You can even record the training sessions for them to refer back to. This will allow them to create their own SOPs as they become more familiar with the work. Not having a schedule of work: It's important to create a schedule for your VA to follow, so they can work independently without constant supervision. This can include tasks like checking listings for issues, managing PPC campaigns, and checking inventory. Not having reports: Set up a system for your VA to report to you on a daily or weekly basis. This can include what tasks they completed, any achievements or problems they encountered, and the hours they worked. Tools like Asana, Trello, and email can be used for this purpose. Not having a communication structure or regular meetings: It's important to have regular communication and meetings with your VA to ensure that everything is running smoothly and to address any issues that may arise. Suffering from the "Superman Syndrome": It's common for e-commerce business owners to try to do everything themselves when they first start out. However, as the business grows, it's important to delegate tasks to VAs and other team members to ensure that everything is being taken care of. Neglecting tasks like shipments, supplier management, and customer service can lead to problems down the line. Resources Schedule a call with Gilad at VAAphilippines.com  To learn more about getting a VA, reach out to VAA Philippines at the email service@VAAphilippines.com

Managing remote employees, particularly virtual assistants (VAs), can be a challenge for e-commerce businesses. In this article, we will discuss the key strategies for effectively managing remote teams and using VAs to support your business. From establishing clear communication channels to setting clear expectations and goals, we will provide practical tips on how to make the most of your remote workforce. As the world becomes increasingly digital and interconnected, many businesses are turning to remote work as a way to cut costs, increase efficiency, and attract top talent. While remote work has many benefits, it also comes with its own set of challenges, particularly when it comes to managing remote employees. In this article, we will discuss some common mistakes that e-commerce businesses make when using virtual assistants (VAs) and how to avoid them. As the founder and assistant of virtual assistant academy, VAA Philippines, Gilad knows firsthand the challenges of managing remote employees, particularly virtual assistants (VAs) in the e-commerce industry. When he started his Amazon business in 2015, he grew quickly and recruited his first two VAs in the Philippines. However, things did not go as smoothly as he had hoped. Time Stamps [02:50:98] Introduction [04:36:29] Thinking What people Say About Themselves in CV/Resume is Important [07:39:48] How To Find Motivated People? [11:02:22] The Next Stop of the Process [18:59:60] The Interview Process [24:21:40] Wrap Up Mistakes When Handling Your Virtual Assistants One of the main mistakes Gilad made was assuming that what people wrote about themselves in their CVs or resumes was important. He overweighted resumes that listed a lot of experience, without taking into consideration how good the person could potentially become. When he put out his first recruitment ad, he received 300 applications, all from people who claimed to have many years of experience and the ability to scale companies. However, Gilad learned the hard way that this was not always the case. He found one VA who seemed like the perfect fit and spent a month training them, only for them to stop replying to his messages. This experience taught Gilad the importance of testing for commitment, motivation, and speed of learning before hiring VAs. He also learned the value of properly evaluating English skills. Recruiting Virtual Assistants at VAA Now, at VAA, Gilad takes the time to properly filter candidates through a recruitment funnel. He tests their ability to analyze data, their commitment, and their motivation by giving them tasks that take time and effort to complete. This includes asking them to review an Amazon listing and recommend improvements based on negative customer reviews. In addition to these mistakes, Gilad also learned the importance of understanding Filipino culture when managing remote employees in the Philippines. Filipinos are generally quieter and more loyal than Westerners, and they do not appreciate being pushed or told they have made mistakes. This can be catastrophic for the employer-employee relationship. Instead, Gilad recommends showing VAs that it is okay to make mistakes and encouraging them to make suggestions. Handling Virtual Assistants at VAA At VAA, Gilad connects sellers with a Filipino manager in addition to their VA to facilitate better communication and avoid misunderstandings. He also emphasizes the importance of being open about the business, its growth expectations, and the VA's role in the company. This helps to build a strong sense of belonging and connection, which can increase engagement and productivity. Another important aspect of managing remote employees is understanding their work environment. Gilad recommends conducting live video interviews to check the connection and physical background, as well as being clear about expectations and tasks. He advises setting specific hours and procedures for communication,

It’s never been easier to buy or sell an e-commerce company. In this episode we’re going to dive into the topic of how – and why – to acquire e-commerce businesses. What you’ll learn 2 Strategic questions to ask yourself before buying an e-commerce company. 4 Ways a new e-commerce company can add value to your current business. Building a ‘house of brands’. Keeping brands versus rebranding e-commerce assets you purchase. Vertical integration concepts. Acquire To Hire Strategies in e-commerce. Valuing businesses that don’t make any profit. Deal making to acquire an e-commerce company. How to value an e-commerce company. Creating profit and value in a new e-commerce company you buy. 4 Ways to finance the purchase of an e-commerce company. How to evaluate the down-side risk of acquiring an e-commerce company Resources for product development Buy Then Build (Book) by Walker Deibel of Quiet Life Brokerage https://empireflippers.com https://flippa.com https://microacquire.com https://exchangemarketplace.com https://feinternational.com

In today's highly competitive e-commerce landscape, retaining customers is crucial for any business looking to boost its profit. With the rise of online shopping, consumers have more options than ever before, making it essential for e-commerce companies to keep their customers engaged and coming back for more. So, how can you retain your e-commerce customers and increase profit at the same time? In this blog post, we will explore5 Ways to Keep Your e-Commerce Customers Longer and Boost Profit that can help you achieve both goals, and give you the tools you need to create a loyal customer base that will drive the growth of your business. From improving your customer service to implementing personalized marketing campaigns, these tactics will help you stand out in the crowded e-commerce market and achieve long-term success. Budai Media focuses on customer retention for ecommerce companies, believing it to be key to success. The company was founded by a geology student who discovered the potential of sales email copywriting while working a job he hated. Budai Media has grown to a 30-person team with 150+ clients, generating over $50,000,000 in extra revenue. The company is now 100% remote, and dedicated to being the best ecommerce retention marketing agency. Time Stamps [02:28:42] Introduction : Why Daniel Started His Agency [04:04:46] What is Retention Marketing? [06:25:49] The Basic Principles On Retaining Customers [06:39:65] 1st Principle : Pesonalized Experience [08:09:30] 2nd Principle : Customer Service [09:55:70] 3rd Principle : Offer Incentives [11:46:94] 4th Principle : Proper Use of Email Marketing [14:57:73] 5th Principle : Loyalty Program [17:08:46] How To Apply These Principles for Amazon Business? [20:07:07] Recap of the Principles and Services Offered eCommerce and Retention Marketing Retention marketing is the practice of focusing on increasing the lifetime value of customers and retention rate of a business. It's a strategy that is becoming increasingly important for e-commerce business owners, as they look for ways to grow their businesses and attract new customers. But retention marketing is not just important, it is vital. When a company can retain more of its customers, it can see an increase of profits by 20-80% (2X profits) by just a 5-10% increase in customer retention annually. And not just that, it costs 7 times less to get a second sale from a customer than it does to acquire a new one. The 5 Principles of Marketing Offer a Personalised Experience Excellent Customer Service Offer Incentives or Reasons to Buy From You Again Use Email Marketing and Using It Properly Loyalty Programme What Aspects of This Can You Use to Your Customers in the Amazon Focused Business? Personalization - packaging  QR codes on packaging to somewhere else Give them a gift with QR code One of members left team and did a video  Customer service - still applies Email marketing more relevant from 2023 using Amazon own email tool  “Delivering happiness” - Zapos - sold to amazon Resources : Get More at amazingfba.com/klaviyo Free 30-minute DTC business audit (usually charged $200 but free) | Get Started Here!

Welcome to our discussion on SMS Marketing for DTC eCommerce Stores. SMS Marketing has become a popular and effective way for businesses to reach and engage with their customers. As the eCommerce industry continues to grow, DTC eCommerce stores are looking for new ways to connect with their customers and drive sales. In this discussion, we will explore how SMS marketing can help DTC eCommerce stores increase engagement and sales, as well as provide tips and best practices for using SMS marketing in eCommerce. Budai Media focuses on customer retention for ecommerce companies, believing it to be key to success. The company was founded by a geology student who discovered the potential of sales email copywriting while working a job he hated. Budai Media has grown to a 30-person team with 150+ clients, generating over $50,000,000 in extra revenue. The company is now 100% remote, and dedicated to being the best ecommerce retention marketing agency. Time Stamps [02:06:32] SMS Marketing [03:24:23] ROI on SMS Marketing [05:00:58] SMS Marketing an Annoying Method? [07:01:43] Things To Look Out For When Starting SMS Marketing [10:58:87] The Cost of SMS Marketing, Is is Worth The Investment? [12:06:47] Persuading People to Join SMS Marketing [14:37:25] Building SMS Marketing for an Amazon Focused Seller [16:14:62] What to Say to Your Customers Using SMS Marketing? [19:03:79] Structuring Things To Make It More Relevant For Your Customers [20:23:02] Balancing the Relationship Between SMS and Campaign [24:56:86] About Dubai Media [27:44:71] 50 Point Klaviyo Email Checklist Why Does My eCommerce Stores Need SMS marketing? SMS marketing, also known as text message marketing, is a highly effective way for businesses to reach and engage with their customers. One of the key benefits of SMS marketing is its high open rate, with an estimated 90-95% of text messages being opened by recipients. Additionally, most text messages are opened within just five minutes of being received, making SMS an excellent way to quickly deliver time-sensitive information. SMS marketing also has a high click-through rate, with an estimated 20-30% of recipients clicking through to a business's website. This makes it an effective way to drive website traffic and increase conversions. When it comes to return on investment (ROI), SMS marketing can be incredibly profitable for businesses. While the average ROI for SMS marketing can vary depending on a variety of factors, some businesses have reported returns of 100X or even 150X. Many business owners report that SMS marketing is their highest ROI channel. This is not just restricted to big brands, but also on 6-8 figure small businesses as well. In general, it's quite common to achieve at least 50X ROI, which makes SMS marketing a highly cost-effective marketing channel. Overall, SMS marketing is a powerful tool that can help businesses reach and engage with their customers, drive website traffic and conversions, and achieve a high return on investment. Provide Incentives to Your Customer! Discount Free T-shirt (AOV high) Free product samples Start out with automations first  Abandoned cart flow New  customer flow Scalability Limitations of SMS Some companies could use SMS more middle of funnel but it will be hard to get ROI Gary Veynerchuck sends motivational quotes etc to his SMS list It’s hard to measure ROI, it’s more about branding. He promoted it heavily on IG and SM  Resources : Get More at amazingfba.com/klaviyo Free 30-minute DTC business audit (usually charged $200 but free) | Get Started Here!

What are your relationship objectives? The first step to figuring out whether or not joining a high-priced eCommerce mastermind is right for you is to figure out your relationship objectives. First, it’s important to understand that mastermind relationships are a two-way street. You can’t just expect people in the group to take care of everything and give you all the support you need; they expect the same in return. If your goal is just to have other people help with marketing, strategy and other tasks related to running an online business—then this may not be right for you (at least at first). But if your objective is more about finding true peers who have similar goals and challenges as yourself—you might find it worthwhile after all! A lot of work goes into building good relationships with other entrepreneurs who are going through similar things as yourself—but it’s worth every minute spent on getting there! Join a mastermind and surround yourself with like-minded people. One of the main benefits of joining a mastermind group is that you’ll be able to surround yourself with like-minded individuals who support each other. These are people who are committed to your success, and they will help you achieve your goals by providing feedback, ideas, solutions, and more. Membership in an online community can also give you access to resources that might not be available elsewhere. For example: A forum where people can answer questions about how they’ve handled specific problems or situations related to ecommerce business growth tactics A rolodex of experts like freight specialists, accountants and CPAs who understand ecommerce, Intellectual property lawyers etc. A forum to meet and have hot-seat sessions (and really drill down on problems in your personal business) Do you have time to commit fully? If you’re not going to be present and commit fully, then it may not be worth your time. A mastermind is a group of like-minded people who meet regularly to support each other in achieving their goals. Most of the members are running online businesses and rely on their mastermind for support as they grow their revenue. If you have a full-time job in addition to your business, heavy family commitments or other business commitments that take up most of your time, you might find it hard to commit fully to this kind of group. That can be especially if you don’t live near the others and they have a strong in-person component. Or if you can’t meet frequently enough for online group sessions. You may also struggle with prioritizing your family and friends over an ecommerce mastermind group (and vice versa). If you’re in the right situation and can commit fully to an online ecommerce mastermind group, then this can be a great tool for growing your business. And if it’s not, then there are other ways to get support and advice. Are the other members in my mastermind the right ones? Do they have enough experience to help me? One of the most important things to consider when joining an ecommerce mastermind is whether or not the other people in your group are a good fit for you. You need to find a group that will grow your business and that isn’t too large or small for you. The right size for a group can vary depending on what kind of help you want, but it usually falls between 5-15 members. If there are too many people in the room, it may feel over crowded and difficult to get your questions answered during Q&A sessions at meetings (or if there aren’t enough people in attendance). The right mix of mentors and coaches is also important because they will each play different roles within the group, so finding someone who is good at teaching online courses versus mentoring one-on-one can help bridge any gaps in skill sets among members. A mastermind group can help you solve your problems but only if it’s the right one for you. There are many benefits of joining a mastermind group.

Multi-channel marketing is all the rage. Most smart e-commerce entrepreneurs know that having one e commerce sales channel is an unacceptable concentration risk for their business. Launching a new  ecommerce sales channel seems like the obvious answer. And, just to be clear, we think it is! However, launching a new sales channel or launching a product on a new e commerce marketplace is not without its challenges. Seeing the logic in starting a new sales channel is one thing. But making it work in practice is another.  The main thing is to not fall into some classic traps. In today’s show, we discuss 5 classic traps (and one “bonus trap”) that e-commerce operators fall into when starting up a new e commerce sales channel. And of course, we discuss how to avoid those mistakes. What you’ll learn Why all sales channels are not born equal How amazon.com (US) is different from say amazon.it Some critical differences between Etsy and Shopify How the Math of profitability varies between platforms Some client examples of wrong strategies – and what works best instead How Jason and Cinnamon got 50X the price the competition got – from off-platform marketing! The critical error marketers make when planning the time & effort needed to launch a new sales channel When outsourcing to an expert helps – and when it’s a trap (or worse!) Why smart eCommerce entrepreneurs end up discounting their own knowledge The 3 foundations you need to put in place before  you launch a new e commerce sales channel How to maximise the chances of success with a new e commerce channel The thing you need to do first before you even start something new Resources Real Real Poshmark Fbmarketplace Offerup Teachable/Kajabi

Today we focus on the latest business opportunity Chris Green is teaching: buying and selling web Domains. Chris has being having fun and making profits from this since the late ‘90s.  Internet Domains aren’t new. Domains have been bought and sold since the early ‘90s. They have existed as an asset class for 30 years now. But NFTs and other recent digital assets have recently brought domain buying and selling back into awareness. It’s re-emerged as a hot topic. There are multi-million dollar domains out there; but new domains can be bought for as little as $9. Finding underpriced domains is a fun game Chris has honed for years. It’s low risk and high reward. But it does require patience – and experience. What you’ll learn Why domain buying and selling is low-risk, potentially very high reward Why it’s come back into fashion What Jason plans to do with his 100+ domains! How Chris stumbled on the need for training in this area The similarities between Retail Arb and Domaining – and the differences Why buying strangely worded domains is always a no-no When you should consider adding other assets to a domain (such as a website on the domain! Or social media accounts) 5 reasons why Domains are great assets Resources Mentioned Go to www.thedomainchallenge.com 5 days of live training with Chris Green. Day 1 is for beginners/basic concepts After that it ramps up! Chris will go live at 1pm and 9 pm Eastern daily (same content, just allowing for different timezones etc. )

This episode discusses strategies for increasing profits for e-commerce businesses, including monitoring conditions and cleaning up the profit and loss statement. It also emphasizes the importance of understanding cash flow and working with an accountant who understands ecommerce and the business. The article provides twelve ways to maximize profit and stay safe, using a metaphor of instrument flying to understand the system, and suggests involving oneself in the process of setting up an accounting system and chart of accounts. Get a Free Amazon Profit Audit Get a free audit from me, Michael Veazey, personally. As long as you have at least $10K/€10K/£10K in monthly revenue.  You can be a reseller or Private label/custom product brand owner   Just click the link below, scroll down, click on “Amazon audit” and book in a time! Timestamps [0:00:00 : Maximizing Profits in Ecommerce: A Step-by-Step Guide to Cleaning Up Your Profit and Loss [0:02:35] 2 Ways to Boost Your Profits by Cleaning Up Your Amazon Profit and Loss [0:05:54] Understanding Cash Flow and Instrument Flying for Ecommerce Businesses [0:07:04] Setting Up an Ecommerce Accounting System: Tips from an Accountant [0:08:41] Tips for Cleaning Up Your Profit and Loss Statement for an Ecommerce Business [0:12:14] Tips for Accurate Accounting for Amazon Sellers [0:14:43] Tips for Effective Financial Management in E-Commerce Businesses [0:16:09] Tips for Monitoring Your Ecommerce Business Finances [0:18:18] Tips for Optimizing Operating Profit in E-Commerce Businesses [0:20:04] Audit Your Profit and Loss: Get a Free Audit from My Amazonaudit.com The Show Outline  Why This matters Amazon Seller Frustrations Working hard but not much money left at end of month/quarter/year Don’t know where your money goes Don’t know if you should reorder products, what to buy. How much What we Want from our Profit System  Clarity and guidance  Financially informed decisions  Overview of business Know what to do more and to stop Know what to costs to cut  Profit and Loss Mistakes Having no accounting system Not integrating Amazon with the system  Not updating the system with accurate data Not acting on the insights you get  Who this is for  Resellers using RA, OA, or wholesale sourcing Own brand sellers  (Private Label/custom products) Using Amazon Profit and Loss is like a dashboard on a small plane  “Instrument flying” is what pro pilots do to be able to fly in all weather conditions With “instrument flying”  you are using accurate data to build a mental map of conditions. Everything you do has two aims: To get to the destination To stay safe while doing so You need to monitor things like  Altitude above the ground  Attitude/orientation Air speed  Weather conditions  Other aircraft  What Amazon profit seekers can learn from instrument flying Altitude - how far from zero profit are you?  Attitude/orientation Are you at an aggressive approach angle relative to direction of travel  Environmental  conditions  - like shrinking markets, recessions  Other aircraft - competitors -  where they are, speed, how close  How to Clean up your Amazon Profit and Loss Choose an accountant that understands ecommerce/ your business Use an accountant to set up your accounting systems Use the system your accountant and book keepers are comfortable with Xero is common. QuickBooks is fine   3 . Identify the most important numbers to clean up for in your p and l - then work backwards from there  The most important numbers in your p and l for management accounting are  gross profit Operating profit  Gross profit is your net revenue minus all your direct costs  It shows how profitable your product sales are.  It’s most helpful at the product by product level to help you decide what pro...

Vance Lee of Playground Theory talks about how to use pre-order launches to grow Amazon businesses. Vance got into the Amazon FBA business in 2015 and launched his first product. He explains how pre-order launches enable Amazon sellers to get great cash flow and scale faster. Vance talks about how pre-order launches are a great way to get money up front and avoid wasting valuable resources. He also shares his free Quick Assessment, which helps identify the biggest Amazon profit killer and provides solutions for it. Time Stamps 0:00:00 | Welcome to the Ten K Collective Podcast: Exploring Pre-Order Launches to Increase Cash Flow and Scale Faster with Vance Lee of Playground Theory 0:02:31 | Exploring Preorders and Crowdfunding: How I Launched My First Product and Achieved 950,000 in Sales 0:03:48 | The Benefits of Crowdfunding and Building an Audience for Product Launches 0:06:13 | Conversation on Crowdfunding for Experienced Sellers and Beginners 0:11:03 | "Avoiding Common Mistakes When Launching a Crowdfunding Campaign" 0:12:26 | "Key Learnings from a Successful Preorder Campaign" 0:16:57 | "Unlocking the Power of Crowdfunding for Amazon Sellers: An Interview with Savannah Sanchez of Playground" 0:18:39 | Interview with Vance Morris of AmazingFBA.com on Pre-Launch Model Strategies for Amazon Sellers Vance Lee has an accelerated program for anyone interested in launching your next product idea using preorders and crowdfunding. From if you're in the idea conception phase all the way to launching and how to leverage that to scale to ecommerce, Vance and his team will assist you throughout the process. Regardless if you're doing this for preorder crowdfunding launch, or if you're finding a way to do this in your way for your Amazon store, at the end of the day, the key to scaling businesses and nowadays with rising ad costs and all the challenges that we have with launching products, is to build your own community. When it comes to being able to create a campaign that's effective and successful on a launch platform like Kickstarter, it's really important that we do a good job in understanding our customers because it's not at that point only about keyword research data. Vance thinks there's a lot of things that we can learn when it comes to executing a successful preorder campaign. We're going to have to do a lot of things that allow for that to work. And I would argue nowadays with Amazon, having really strong video content for ads and other types of media will really help you with being successful on Amazon. And the good thing about this is that you can create these assets and they're usable immediately for when you move over to Amazon or shopify or wherever else you're going to be selling. Resources Find Out More About Playground Theory

Amazon sellers often experience frustration with not knowing where their money is going and not having a way to analyze and identify the best products to sell. Using ecommerce profit analytics programs, such as Sellerboard or Eva, can help sellers identify profitable products, track their sales and profits, and manage their inventory and advertising. Reviewing the data regularly and double down on out of stock, high profit items is crucial to maximize profits. It's also important to calculate "AROI" (Annualized Return on investment) which is more accurate than just ROI. Additionally, it's recommended to reallocate capital from mediocre/loss making products to profitable items and explore options such as creating variations or bundles of successful products. Why This matters Amazon Seller Frustrations Working hard but not much money left at end of month/quarter/year Don’t know where your money goes Don’t know if you should reorder products, what to buy. How much What we Want from our Products [Revenue?] Return on Investment (more on this shortly) Cashflow Profit replenishable/repeatable Missing out on what’s working Having no profit analytics system so you don’t know what’s working Not having a way to analyse and “surface” the best products Shiny object/creativity syndrome Not acting on the insights you get  Who this is for   -Resellers using RA, OA, or wholesale sourcing  - own brand sellers  (Private Label/custom products)  - Shopify or DTC store owners Using Amazon Profit Analytics is like panning for gold  - or Shopify analytics or apps -   eCommerce and Amazon is the new Gold Rush. Don’t throw the gold out with the gravel! What Amazon profit seekers can learn from gold panning: Once you’ve got the gold (keep the profits!).... Keep what you have! Go back to the same source! How to get more out of what’s working Phase A. Finding profitable products [as before] Get an ecommerce profit analytics programme or use what works Amazon-specific  Sellerboard is common.  Eva is probably better value.   - EVA Accurate Sales & Profit Analytics - like Sellerboard Custom Reporting At Product, Store & Daily Sales Level Advertising Analytics & Rule-Based Settings Dynamic Pricing & Promotion Management Inventory Management & Replenishment Forecasting Very affordable.  Shopify  - in left hand menu Analytics>Reports Categories: Finances Gross profit report  Input accurate COGS and other costs Having a system with no data is a waste of time Having a system with inaccurate data is positively dangerous You believe it - lose money You don’t believe it - so you don’t follow the insights - also lose money! Review the data - regularly! Annually is too late Quarterly minimum  Monthly is best Note frequently Out of stocks Find highest margin products Look at stock turn Don’t worry about ROI - calculate “AROI” (Annualized Return on investment] (listen to/watch future episode) Phase B- implementation DOuble down on OOS - Make sure you stay in stock/deepen stock on fast-selling and profitable items (reallocate capital for slow-selling or loss making items) Double down on high profit items - For the most profitable items, reallocate capital from mediocre/loss making products create/find variations on profitable items (future episode) Create Bundles (listen/watch for future episode)  Are You Sitting on a Gold Mine?  What to do next to Crush Your Amazon [or Shopify/DTC] Profit Margin Get a free Amazon profit audit Get a free audit from me, Michael Veazey, personally. As long as you have at least $10K/€10K/£10K in monthly revenue.  You can be a reseller or Private label/custom product brand owner   Just click the link below, scroll down,

Vance Lee is the founder of Playground Theory, a company specializing in community building for product validation. In this episode, Vance will discuss the importance of building a strong community for product validation and how to effectively engage with potential customers to gather valuable feedback and insights. He will share his expertise and experiences in creating successful communities and how it can help companies validate and improve their products. Time Stamps 00:00 | Introduction 02:13 | Introduction to Product Validation 04:59 | Scaling Product Validation 07:41 | How do we even find people to even ask their opinion of 11:58 | How Do We Start That Conversation In a Way That's Helpful? 14:25 | The Five Question Survey 18:27 | Mistakes To Avoid 22:33 | More About Playground Theory Introduction to Product Validation for Amazon Sellers Vance Lee of Playground Theory is an expert in pre-orders and crowdfunding Discusses the importance of product validation for Amazon sellers The process of validating a product involves figuring out if people want it and what they want/don't want about it Validation helps to ensure the product is successful and profitable before investing time and money The Importance of Product Validation Product validation is an important step before investing resources in a new/existing product Without validation, companies may spend time and money on a product nobody wants The traditional Amazon private label process involves looking at reviews, but it's important to look at other options for validation Validation ensures the product will be successful and profitable Understanding Product Validation The speaker discusses the concept of product validation and how it's crucial before scaling a product Defines validation as getting feedback from customers about the product and understanding their needs Mentioned Andreessen's idea of product-market fit as another important aspect of validation By getting customer feedback, businesses can make sure the product has the desired features and is viable The Process of Product Validation Validation is the process of getting feedback from potential customers to make sure the product meets their needs Involves talking to people and getting their opinions, as well as market research Helps to create a defensible product that sets the business apart from competitors Also involves talking to suppliers to see if the product is feasible and the necessary resources are available Validation helps to create a unique product that fulfills its primary and secondary functions and desired price point. Resources Ready to take your Amazon business to the next level? Visit amazingfba.com/playground today and unlock the power of community-driven product validation. Get the expert insights and resources you need to validate your products and ensure their success and profitability. Don't wait, click now and join the revolution!

If you want to drive conversions on Amazon, then you’ll want to get really good at photography and image marketing. In this episode we dive into this topic and to help you increase your PROFITS as you work to increase your SALES. What you’ll learn The Person, Problem, Psychological Driver Framework. The 10 steps to create terrific visual impact Tips for working with a photographer The 4 types of images you need on every Amazon listing. Resources for product development https://karltayloreducation.com/karl-taylor-photography-new-website/

If you want to drive conversions on Amazon, then you’ll want to get really good at photography and image marketing. In this episode we dive into this topic and to help you increase your PROFITS as you work to increase your SALES. What you’ll learn The Person, Problem, Psychological Driver Framework. The 10 steps to create terrific visual impact Tips for working with a photographer The 4 types of images you need on every Amazon listing. Resources for product development https://karltayloreducation.com/karl-taylor-photography-new-website/

When you increase your average order value (AOV) – you make more money per transaction – and that helps boost your revenue and profit. In this 2-part episode we’re going to discuss 7 ways to increase your AOV. What you’ll learn Russell Brunson’s most effective product AOV test ever. The Apps that make AOV increase simple. Active vs Passive Upsell strategies How your product catalog can influence AOV How to test your way to higher AOVs E-commerce and Business Books & Resources mentioned 80/20 curve Perry Marshall

When you increase your average order value (AOV) – you make more money per transaction – and that helps boost your revenue and profit. In this 2-part episode we’re going to discuss 7 ways to increase your AOV. What you’ll learn Russell Brunson’s most effective product AOV test ever. The Apps that make AOV increase simple. Active vs Passive Upsell strategies How your product catalog can influence AOV How to test your way to higher AOVs E-commerce and Business Books & Resources mentioned 80/20 curve Perry Marshall

Are you looking for ways to increase your Amazon conversion rate and maximize your cash flow? It’s no secret that the success of any eCommerce business is dependent on boosting the Amazon conversion rate. Yet, it can feel like an uphill battle if you don’t know where to start—but guess what: You are NOT alone!  Our expert guest, Mina Elias,has created this checklist full of tricks, tips and strategies designed specifically to help you take charge of your conversions, drive more sales, and make serious money with your Amazon business. By learning how to leverage advertising strategy within Amazon’s platform as well optimizing user experience (UX), you will have all the tools needed dump extra cash in your pocket right away. So stop wasting time—let's get started! Time Stamps [02:35] Why does Running Ads Matter? [04:39] Improving Your Click-Through Rate [06:43] The Importance of A Bestseller Badge [08:24] Price and Image Test : Doing A Coupon Test [10:15] Keeping In Mind The Price and The Main Image [14:00] Product Opinion [14:41] Updating Images On A Weekly Basis [15:54] How To Improve Conversion Rate? [17:56] Bullet Points and SEO [19:07] Standout [20:52] Wrapup CTR Optimization to Increase amazon Conversion Rate CTR optimization is crucial when it comes to advertising and sales on Amazon. CTR stands for click-through rate and is calculated by dividing the number of clicks by the number of impressions. A higher CTR means more people are clicking on your listing and moving further down the funnel towards a conversion. To maximize CTR, focus on three main areas: the main image, price, and reviews. The Amazon Choice and Bestseller badges can also impact CTR, but the Bestseller badge can only be earned by spending a significant amount of money. Meanwhile, the Choice badge is only useful for your own brand name. Optimizing your pricing, either by yourself or using a service, can also impact CTR. Running coupon tests, either in the form of a dollar amount or percentage off, can drive more conversions. Lastly, tracking your spending and CTR through an excel sheet or software is important to monitor progress and make adjustments. Dropping your price may result in lower profit per unit, but can improve CTR and overall sales. Increase amazon Conversion Rate with Your Main Image The main image of your product plays a crucial role in attracting potential buyers to your listing. To optimize your main image, you can use polling platforms such as Pickfu or Productpinion to gather opinions on which image is more appealing. The results of these polls can help you make changes to the image to make it more eye-catching and increase the CTR. For example, you can incorporate certain elements in the main image to make it stand out, such as the size of the product or its intended use (such as pre and intra workout vs hydration). It's important to remember that the results of these experiments may not be 100% accurate, so it's best to keep testing and adjusting over time to see what works best for your product. Keep in mind that an increase in CTR can lead to a higher ad spend, so it's important to be controlled with your spending. A conversion rate of 2-3% is considered good, but a conversion rate of 4% or higher is considered phenomenal. Conversion Optimization Conversion optimization is a crucial aspect of e-commerce success. The CTR elements, such as the main image and pricing, also impact conversion rates. The rest of the images, questions, and videos play a significant role in converting shoppers into customers. Most sellers first click on the main image, price, and star rating, then look at the images. The images are crucial, and their position matters. Productpinion, a product testing tool, can be used to test the impact of different image positions on sales by asking "Which one would you buy and why?" Testing videos, price, and coupons can also help increase conversion rates. However,

As an Amazon seller, having access to Amazon Brand Analytics can greatly benefit your business. It provides valuable insights into your brand's performance, helping you make informed decisions to maximize your business's growth. Time Stamps [03:35] Understanding The Results [05:31] Why Should You Prioritize The Image [06:12] Conversation Rate Optimization [06:50] Getting Reviews [09:22] Managing Your Reviews [15:05] Search Query Performance Report [19:13] Summary Understanding Your Analytics Performance One of the main benefits of using Amazon Brand Analytics is having a comprehensive view of your brand's performance. This tool provides data on your brand's sales, impressions, conversion rate, and more. Having this information at your fingertips allows you to make informed decisions to drive growth. Monitoring Your Competition Another important aspect is the ability to monitor your competition. By tracking your competitors' performance, you can identify areas where you can improve your own products and strategies to gain a competitive advantage. Improving Product Listings : In addition to providing insights into your brand's performance, Amazon Brand Analytics also offers valuable information on how to improve your product listings. This information can help you optimize your product listings to increase conversions, drive more traffic, and ultimately grow your sales. Making Data-Driven Decisions You can make informed, data-driven decisions that will help maximize your business's growth. This tool provides insights into your brand's performance and helps you make informed decisions about your product offerings, pricing, and marketing strategies. In conclusion, Amazon Brand Analytics is a valuable tool for any Amazon seller. By using this tool, you can make informed decisions that will help grow your business and stay ahead of the competition. So if you haven't already, be sure to take advantage of Amazon Brand Analytics and start maximizing your business today! Resources Reach Out to Mina Elias!

Returns are a part and parcel of the e-commerce business. As a store owner, it's essential to have a fair and transparent return policy in place to protect your brand. Having a streamlined and efficient product return process can also go a long way in reducing the number of returns and preserving customer satisfaction. In this article, we'll explore the reasons behind product returns, the importance of having a clear return policy, and steps you can take to reduce returns and protect your brand. Understanding the Reasons Behind Returns The first step in reducing product returns is to understand why customers want to return their purchases. Some of the most common reasons for product returns include: The product is damaged or defective The product received is not what the customer ordered The product received is different from the product described on the website The customer changed their mind about the purchase The product did not fit as expected By analyzing customer feedback and tracking patterns and trends in returns, you can identify areas for improvement and make changes to your products, website, or return process. Implementing a Fair and Transparent Return Policy Having a clear and transparent return policy is critical to building trust with your customers and protecting your brand. A well-designed return policy should include the following key elements: A clear explanation of the conditions under which a product can be returned The time frame in which customers can return a product Information on how customers can initiate a return Details on the return process, including shipping instructions and any costs associated with returns Information on how customers will receive their refund or exchange By providing clear and concise information about your return policy, you can help reduce the number of returns and minimize any negative impact on your business. Streamlining the Return Process An efficient and streamlined return process is essential to reducing the number of returns and preserving customer satisfaction. The return process should be simple and straightforward, with clear instructions on how customers can initiate a return and receive their refund or exchange. To streamline the return process, consider automating as much as possible. For example, you can use software to generate return labels, track returns, and calculate the cost of returns. This can help you save time and reduce manual effort. Enhancing Customer Experience During Returns The customer experience during the return process is just as important as the customer experience during the purchase process. By providing clear and concise instructions for returns and offering multiple options for returns, such as in-store returns or prepaid shipping labels, you can enhance the customer experience and reduce the number of returns. Measuring the Impact of Returns on Your Business Keeping track of the number of returns and the cost of returns is essential to understanding the impact of returns on your business. By tracking this information, you can identify areas for improvement and make changes to your products, website, or return process. To reduce the impact of returns on your business, consider offering a satisfaction guarantee or a limited warranty. This can help build trust with your customers and reduce the number of returns. Conclusion Returns are an inevitable part of the e-commerce business, but by having a fair and transparent return policy, streamlining the return process, and enhancing the customer experience during returns, you can reduce the number of returns and protect your brand. Keeping track of the number of returns and the cost of returns is also essential to understanding the impact of returns on your business and making changes to improve the customer experience. In conclusion, handling product returns effectively is critical to protecting your e-commerce brand and pre...

Ecommerce SEO strategies, as an eCommerce business owner, you likely understand the importance of optimizing your website for search engines. After all, appearing at the top of Google's search results is the key to driving traffic to your website and boosting sales. However, many eCommerce businesses make the mistake of focusing solely on product pages and category pages and overlooking the value of a blog. In this post, we'll explore the real reason eCommerce business owners should be publishing articles on their blog, and how it can help maximize eCommerce SEO. Time Stamps 0:00:00 | Unlocking the Benefits of SEO for Ecommerce Businesses: Why Publishing Articles on Your Blog is Key 0:03:24 | Optimizing Ecommerce Websites for Organic Traffic: A Content-Led Approach 0:05:54 | Exploring Topical Mapping: A Comprehensive Overview 0:07:09 | Exploring Content Mapping Strategies for SEO Success 0:08:41 | Exploring the Benefits of Topical Mapping for SEO 0:10:09 | Exploring the Connection Between Topical Relevance and High Performance Ranking 0:13:15 | Evaluating SEO Performance: Leading Edge Metrics and Competitor Analysis 0:14:59 | Exploring the Benefits of Topical Mapping for SEO Programs 0:18:19 | Exploring the Benefits of Topic Mapping and Buyer Journey Mapping for SEO 0:18:55 | Exploring the Benefits of Building Authority for SEO Success 0:21:50 | Understanding the Relationship Between SEO and Ecommerce: How to Maximize Traffic and Conversion Rates 0:24:42 | Unlocking the Potential of SEO: Insights from Ashley Pierce 0:26:36 | Understanding SEO for Ecommerce: Key Takeaways for Driving Traffic and Conversions 0:28:12 | Understanding Ecommerce SEO: Takeaways from Ashley Pierce of Future State Media 0:32:37 | Exploring Risk Mitigation Strategies for E-Commerce Platforms 0:35:51 | Exploring the Benefits of SEO: Leveraging Topical Relevance to Increase Profitability 0:38:19 | Exploring Opportunities for Establishing Topical Relevance in SEO 0:41:25 | Exploring the Power of Authority Building in SEO Ecommerce SEO Strategies : The Power of Topical Mapping To start, it's essential to understand the power of topical mapping. At its core, topical mapping is the process of identifying the key topics that are most relevant to your business and creating content around those topics. This approach can help build a level of topical authority in search engines, which can drive traffic to your website. Traditionally, building topical authority involved generating millions of backlinks. However, today's SEO techniques are more sophisticated, and topical mapping has become an essential tool in the eCommerce SEO toolkit. To get started with topical mapping, you'll need to map out your niche using tools like Google and SEM Rush. By analyzing what your competitors are already publishing, you can gain a better understanding of the topics that are most relevant to your business. Ecommerce SEO Strategies : Topical Mapping and the Buyer Journey However, it's essential to note that topical mapping is not the same as mapping out the buyer journey and providing content. In most cases, there will be some overlap between these two approaches, but they won't be perfectly aligned. The aim of the game is to cover the topic more fully and to a higher quality than your competitors in the search market. Once you do this, you'll find ranking for commercial "buying intent" terms easier and more reliable. The Role of Commercial Intent One of the most common mistakes eCommerce businesses make is creating content solely for informational search intent, which may have no commercial intent. While this approach can help you rank product pages and category pages for commercial intent topics, it doesn't necessarily translate into sales. Instead, it's essential to create content that aligns with commercial search intent. This type of content should be designed to drive high-profit sales from Google Organic traffic,

If you are running an e-commerce business, chances are you want to rank high on Google. But why is it so difficult to convert traffic into sales? And what can you do to increase your chances of success? One strategy that could help you is topical mapping. In this blog post, we'll take a closer look at what topical mapping is, how it can help you rank higher on Google, and how you can use it to convert more sales. Time Stamps 0:00:00 | Unlock Your Ecommerce SEO Potential: How to Rank Your Website and Make Money with Ashley Pearce from Future State Media 0:02:38 | Exploring SEO Strategies for Ecommerce Websites with Ashley Pearce" 0:04:21 | Exploring Google Knowledge Graph: Maximizing Opportunities and Diversifying Platforms 0:06:35 | Exploring Risk Mitigation and Concentration Risk Mitigation for Amazon: A Conversation on SEO Strategies for Increased Revenue" 0:09:57 | Exploring Opportunities for Expanding Product Lines Through SEO 0:13:15 | Exploring the Benefits of Niche Marketing for Business Growth 0:15:06 | Exploring the Power of Authority Building in the Online World" 0:16:05 | Exploring Opportunities to Convert Website Visitors into Customers 0:19:49 | Exploring the Possibility of Selling Digital Products on a Blog 0:22:00 | Exploring the Possibilities of Conversion Rate Optimization (CRO) 0:25:01 | Optimizing Lead Magnets for Search Intent: Maximizing Conversion Rates" 0:26:52 | Exploring Lead Capture Strategies for Ecommerce Sites" 0:29:13 | Maximizing Your SEO Budget for Maximum Conversion Rates" 0:31:09 | Heading: SEO Projects Showing Impressive ROI Results 0:32:38 | Understanding the ROI of SEO: A Discussion on Building an Asset to Sell" 0:35:21 | Exploring the Benefits of Long-Term Investment in Businesses for Exit Strategies 0:37:00 | Exploring Long-Term Strategies for Building Authority and ROI in Ecommerce" 0:38:34 | Exploring SEO Strategies for Ecommerce Operators: A Guide to DIY and Outsourcing Solutions" 0:40:00 | Unlocking the Power of Organic Traffic: A Conversation with Ashley on SEO Strategies" 0:41:33 | Interview with Ashley Pearce of Future State Media: Strategies for Staying Focused on Your North Star What is Topical Mapping? Topical mapping is a strategy that involves mapping out the topics that are most relevant to your business and your customers. By doing so, you can create content that is more targeted and relevant to your audience, which can help you rank higher on Google. Topical mapping takes a longer-term perspective, which means that you should focus on topics that are relevant to your business in the long run, rather than just trying to rank for one single keyword. From an SEO perspective, topical mapping is important because it helps validate that your content is topically relevant. When Google sees that your content is focused on a specific topic, it's more likely to rank it higher in search results. This can help drive more traffic to your site, which is essential for e-commerce businesses. Why Aren't We Converting More Sales from Traffic? One reason why businesses struggle to convert traffic into sales is that the first content to rank on Google tends not to be the most commercially driven pages. For example, if you sell dog products, ranking for "Why does my dog follow me everywhere?" may not result in many sales. Instead, you should focus on bottom-of-the-funnel pages with high buyer intent. When Do We Start Making Money from E-commerce SEO with Topical Mapping? To make money from e-commerce SEO, you need to compare yourself to your competitors. Look at how widely they've covered a topic, their ranking, and what their particular income looks like. You should also look at the traffic to commercial pages and make assumptions about conversion rates. Once you have this information,

As an e-commerce business owner, you work hard to make sales and grow your business. However, it can be frustrating when you see that there's not much money left at the end of the month, quarter, or year. You may not know where your money goes or understand your business financially. This is where a profit and loss statement (P&L) comes in handy. In this blog post, we'll discuss how to structure your P&L for e-commerce to gain clarity and profit. We'll cover why this matters, the frustrations you may be experiencing, what we want, signs you've got this wrong, who this is for, and phase A: how to set up your P&L. Why This Matters A P&L is a financial statement that shows the revenue, costs, and expenses of a business over a period. It's an essential tool for tracking your business's financial performance and making informed decisions. A well-structured P&L provides clarity on your business's profitability and helps you identify areas for improvement. Frustrations You May Be Experiencing with Your P & L for e-Commerce If you're an e-commerce business owner, you may be experiencing frustrations such as working hard but not having much money left at the end of the month, quarter, or year. You may not know where your money goes or understand your business financially. This can lead to uncertainty and a lack of direction. What We Want We want clarity on our business's financial performance, an overall business strategy, and to be guided by numbers. A well-structured P&L can help us achieve these goals. Signs You've Got This Wrong If you don't have a profit analytics system, you won't know what's working and what's not. If your numbers are inaccurate, you won't be able to trust your P&L. If you don't understand your P&L, you won't be able to make informed decisions. If you don't know what to do with the information you get, your P&L won't be useful. P & L for e-Commerce : Who This Is For This blog post is for resellers using RA, OA, or wholesale sourcing, own brand sellers (private label/custom products), and Shopify or DTC store owners. If you're an e-commerce business owner, you're the financial manager of your business, and this post is for you. Phase A: How to Set Up Your P&L To set up your P&L, you need to be clear about the difference between tax accounting and management accounting. Tax accounting is for the IRS, and management accounting is for you. You need to have a bookkeeper or accountant who understands e-commerce and can set up your P&L correctly. Choose a bookkeeping system (e.g., Xero or Quickbooks) that is universally used and preferred by your accountant/bookkeeper. Use software to link your sales channels (e.g., Amazon) to your bookkeeping system (e.g., A2X or Linkmybooks). Set up your chart of accounts with your accountant, and have your bookkeeper get your accounts up to date historically. Then get your accounts up to date for the previous month by the 15th of the next month. Have them set up a P&L report that clearly shows direct vs. indirect costs (i.e., you get a clear gross margin). In conclusion, a well-structured P&L is essential for gaining clarity and profitability in your e-commerce business. By following the steps outlined in this post, you can set up your P&L correctly and make informed decisions for the future of your business.

Growing a Business to Sell on an e-commerce business can be a challenging task, especially in the current market. Yoni Kozminski, Founding Partner of South Col, shares insights on the current state of the market, the aggregator business model, and South Col’s approach to investing in e-commerce businesses. Time Stamp 00:00 | "Welcome to the Ten K Collective Podcast: Accelerating Ecommerce Businesses to Exit with Yoni Kozminski" 02:34 | Michael Krakaris: Exploring Ecommerce, Digital Marketing, and Process Improvement Management Consulting 04:22 | Heading: South Coal: A Joint Venture to Invest in Ecommerce Businesses 05:59 | Exploring the Business Model of an Aggregator: A Discussion with South Coal 08:03 | The Benefits of Working with an Equity Investment Firm for Ecommerce Businesses 14:13 | Exploring the Challenges and Opportunities of Aggregator Business Models: A Discussion with Michael 15:08 | The Impact of Rapid Growth on Businesses: A Discussion 20:50 | Heading: Navigating the Venture Capital Environment as an Entrepreneur 22:40 | Heading: The Cost of Venture Capital Investment 25:08 | Exploring Sustainable Business Opportunities for Entrepreneurs 26:11 | Exploring Strategies for Accelerating Business Growth: A Discussion on Selling vs. Owning a Business 31:12 | Discussion on Accelerating Growth and Exiting a Business 32:35 | Understanding the Current State of Ecommerce Business Exits 34:28 | "Strategizing for Intentional Business Growth: Advice for Amazon Sellers" Who is Yoni Kozminski? Yoni Kozminski is a founding partner of South Col, a growth fund focused on accelerating e-commerce businesses to exit. He has a background in digital marketing and has worked with well-known brands such as Sony, Mastercard, and Mercedes-Benz. Kozminski grew a brand to 5 million in 12 months and later founded services such as EScala, which provides consulting services to systemize, scale, and exit e-commerce businesses. He also founded Multiplymii, which provides executive search and HR functions. Growing a Business to Sell : South Col's Business Model South Col invests in e-commerce businesses, focusing on growing them and maximizing their exit value. Unlike aggregators, they aim to keep the founder in the business and invest millions of dollars in it. South Col builds a two-year roadmap and works on removing the founder from the aspects of the business they hate, such as PPC, inventory, logistics, 3PL, and IP lawyers. The founder can then focus on new product development, building out the next ten products, and expanding the brand into new regions. South Col is committed to the outcome and sees upside when the founder does. Aggregator Business Model Issues Yoni Kozminski was approached by many aggregators and brokers who wanted to buy e-commerce businesses. However, he did not feel good about this because the brokers' goal is to buy the brand at the lowest price, which conflicts with the owner's aim of getting the highest price. Growing a Business to Sell : Lessons from the Aggregators' Tales It is hard to scale any business at speed, and this is never wise. Spreadsheet jockeys saw the immense demand for aggregators and drove up multiples from 1.5x to 7-9x EBITDA. There was a lot of market confidence in early 2020, and the pandemic's duration impacted it significantly. Entrepreneurs' decisions are affected by the venture capital model, where they are there to force the outcome, but only 1 in 10 or 1 in 20 will succeed. South Col is a possible alternative for those considering taking on VC. Why Sell an E-commerce Business? The business model affects the decision to sell. In a service business, you can typically build healthy margins once you get to critical mass, yielding around 300K a year for you and being independent of you. On the other hand, e-commerce businesses require more cash requirements, making them more stressful to grow. Unless you have seriously high margins,

As an entrepreneur, it's important to not only focus on building a profitable business but also to consider the potential for a future exit. In this blog post, we'll discuss some key factors that appeal to buyers and how you can increase your potential multiple for exit. We'll also take a look at the "Exit DNA" course by Mac Lackey, which offers valuable insights into the exit process. Time Stamps 00:00 | "Delegating Your Way to a Sellable Business: A Conversation with Yoni Kozinski" 03:30 | "The Benefits of Building a Business with a Clear Plan" 04:41 | "Maximizing Your Exit Potential: Strategies for Achieving a Successful Acquisition" 06:41 | "Strategies for Selling a Business: Understanding Aggregators and Prospective Buyers" 08:24 | Exploring Strategies to Maximize Exit Value for Businesses 14:00 | "Understanding the Challenges of Selling an Ecommerce Business" 14:54 | Discussion on Setting Financial Objectives for Business Success 16:45 | Exploring the Process of Preparing to Sell a Business: A Discussion 19:54 | "Maximizing Your Business Multiple: A Step-by-Step Guide" 21:56 | Heading: Considerations for Building Toward an Exit in Ecommerce 23:26 | "The Importance of Budgeting and Inventory Management for Building a Sellable Business" 29:05 | Exploring Growth Strategies for Ecommerce Businesses with South Coal 32:28 | Discussion on Ecommerce Business Investment Criteria 33:43 | "Exploring the Benefits of Working with a Consultant Who Has Skin in the Game" 34:55 | Heading: Exploring Southcool Co's Ecommerce Valuation Tool with Yannie of Southcool Co 36:51 | "Interview with Yoni Mazor: Building Business Value and Evergreen Skills" Understanding Your Ideal Buyer To build towards a successful exit, it's essential to understand who your ideal buyer is. This requires looking years out and considering the types of businesses that would be interested in acquiring your company. For example, if you're in the e-commerce space, you might be looking to sell to private equity or strategic acquirers. Assessing TAM & Competitor Position Investors always look at TAM (Total Addressable Market) with an eye towards growth opportunities. Consider the level of competition in your niche and whether there is an opportunity for you to take market share. Is there a private equity or strategic acquirer in the niche? If so, building towards a market-leading position in that niche could make your business more appealing to buyers. Why Start in the USA? Starting a business in the USA offers a significant advantage due to the large population of 350 million people, with 50% of e-commerce sales happening on Amazon. This provides a vast TAM to penetrate and build market share. While other markets like Australia may offer less competition, the smaller population makes it harder to achieve meaningful scale. Maximizing Multiples To increase your potential multiple for exit, it's essential to have a clear distinction between getting ready for exit and maximizing your multiples. This requires identifying areas of the business that are critical to the multiple, such as SOPs, training videos, and documentation. Automating and delegating to people who are better than you are at certain tasks is also crucial. Building Relationships with Suppliers Building strong relationships with suppliers is also essential to building a sellable business. Aggregators and other buyers are interested in businesses that are operationally sound and can continue to grow even without the founder's involvement. Having clear SOPs, training videos, and documentation helps ensure that acquirers can understand how the business works and can integrate it into their operations. Inventory Planning and Budgeting Inventory planning and budgeting are also critical to building a sellable business.

How do you know whether a new product is a good idea on Amazon? In this week’s Tip Of The Week video we discuss five decision making criteria you can use to evaluate a product on Amazon.

Chase Clymer, co-founder of Electric Eye and host of the Honest Ecommerce podcast, joined the Ten K Collective Podcast to discuss the transition from Amazon to Shopify. He recommends that if someone were to start an ecommerce brand today, they should use Amazon, even though they would need to learn a lot about the platform. He believes Amazon has a built-in audience and can help increase sales. He also recommends taking advantage of the Amazon Profit Quiz to help identify areas of waste and how to address them. Timestamps 0:00:00 | Exploring the Benefits of Selling on Amazon vs. Shopify 0:03:51 | Exploring the Benefits of Starting a Brand on Amazon vs. Building an Owned Audience 0:05:22 | Product Market Fit: Finding the Right Balance for Ecommerce Success 0:07:14 |  Exploring the Transition from Amazon to Building Your Own Channel: A Discussion on Revenue and Product Strategy 0:08:36 | Understanding Commodity vs. Average Order Value in Ecommerce 0:11:22 | Exploring the Possibility of Transitioning to a Direct-to-Consumer Model 0:12:37 | Exploring the Benefits of a Small Product Catalog for Ecommerce Stores 0:14:34 | Discussion on Achieving an Average Order Value of $75+ with a 40%+ Profit Margin 0:17:56 |  Understanding the Necessary Numbers for Successful Paid Media Advertising 0:19:23 | Heading: Examining the Benefits of a Profitable Product Line 0:20:51 | Conversation on Optimizing Existing Stores and Electric Eye Services 0:27:48 | Heading: Electrici IO Shopify Diagnostic for Amazon Seller 0:29:01 | Exploring Shopify vs. Amazon: A Conversation with Chase Climber of Electric Eye Starting an Ecommerce Brand: Shopify or Amazon? When it comes to starting an ecommerce brand, the two most popular platforms are Shopify and Amazon. Both have their own set of advantages and disadvantages, making it difficult to choose between the two. In this post, we’ll discuss the pros and cons of each platform and provide some guidance on which one might be better for your brand. Why Choose Amazon? Amazon is a massive marketplace that has a built-in audience of millions of users. This can be a huge advantage for new ecommerce brands that are looking to test their product and find product-market fit (PMF) quickly. With Amazon, you can get feedback on your product and make adjustments rapidly. Amazon’s customer data and algorithms can also help you to find new customers and increase sales. However, there are also some downsides to using Amazon. While it’s a great platform for testing and validation, it may not be the best long-term solution. Amazon takes a percentage of your sales and owns your customer data, which can limit your ability to grow your brand and increase profits. Additionally, if you’re selling a luxury product, Amazon may not be the best fit, as it tends to favor commodity products with low margins and low average order value (AOV). When to Transition from Amazon to Your Own Platform? The decision to transition from Amazon to your own platform will depend on several factors, such as your revenue, profit, and business goals. According to experts, when sales are “just happening,” and your revenue is in the thousands, it’s a sign that you’ve found PMF. However, to build a sustainable and sellable business model, you need to build your own platform. If your brand has a unique value proposition or a flagship product that performs well on Amazon, you may consider building out your own store. However, you need to ensure that your AOV is above $75, and your profit margins are high enough to acquire customers through paid media channels like Facebook and Google. Why Choose Shopify? Shopify is a popular ecommerce platform that allows you to build your own online store and customize it according to your brand’s needs. It offers a range of features, such as inventory management,

Chase Climber, co-founder of Electric.I, joins the podcast to discuss optimizing ecommerce stores. He explains that many Amazon sellers struggle to optimize their own store, and even sellers who are only on direct-to-consumer sites face similar issues. Electric.I creates Shopify powered sales machines from their sites with a strategic design approach and intelligent development decisions. He also hosts the Honest Ecommerce podcast with honest advice to increase sales and grow businesses. The key message of this episode is that to grow profits, sellers must cut waste and increase profitable sales, and the Quick Assessment at Amazonprofitquiz.com can help identify the biggest profit killer.   Timestamps 0:00:00 | Optimizing Your Ecommerce Store with Chase Climber of Electric. 0:02:28 | Heading: Optimizing Existing Store: Is It Possible to Be Good at Both Amazon and Shopify? 0:04:22 | Conversation on the Necessity of Specialized Heads for Ecommerce and Amazon Businesses 0:06:08 | Analysis of Direct-to-Consumer vs. Reselling on Amazon: A Case Study 0:07:42 | Analysis of Ecommerce Opportunity for Private Label Products 0:12:22 | Heading: Strategies for Finding Product Market Fit 0:13:24 | Analysis of Drop Shipping and Private Label Business Product Profitability 0:16:03 | Exploring Strategies to Increase Average Order Value (AOV) 0:17:48 | Case Study: Moving from Amazon to Direct Consumer with Limited Success 0:20:59 | Conversation Summary: Building an Online Channel vs. Selling on Amazon 0:22:49 | Optimizing a Shopify Store for Increased Conversion Rates 0:26:06 | RO Retainer: A Case Study on Increasing Average Order Value by 25% 0:30:55 | Exploring the Journey of Ecommerce with Honest Ecommerce Podcast 0:31:55 | Interview with Chase Clymer: Discussing Electricy IO, Marketplace vs. Direct to Consumer, and CRO 0:33:28 | Interview with Chase Climate of Electric Eye: A Crash Course in Brand Scaling for Amazon Sellers If you're looking to excel in both marketplaces and DTC, it's important to understand that they require separate skillsets. Most 8-figure plus brands have someone in charge of each division. If you want to optimize DTC, it's going to take a lot of time and effort. You need to understand the nuances of the platform, whether it's Shopify, Woocommerce, or Magento. Case Study 1: Why a Reseller with Some PL Only Made 1M on DTC If you're not seeing profits on DTC, there could be a variety of reasons. You need to consider your product mix and whether you're focusing on private labeling or reselling. Is your energy and margin solely focused on one aspect? What is your CAC? Are customers looking for your product? Is your entire catalogue on your DTC site? If you're approaching DTC with the mentality of a marketplace, consider spinning it out or hiring a head of ecommerce. You can still keep reselling while building your own DTC. It's also important to analyze your sales and see what's actually selling on your site. You can also consider bundling products that aren't selling as free gifts or offering promotions to increase AOV. Case Study 2: How to Transition from Amazon to DTC Transitioning from Amazon to DTC requires a lot of investment and effort, particularly in driving traffic. Don't rely solely on Google SEO, as there are thousands of other sites competing for attention. You need to invest in influencers, paid ads, and other forms of marketing. When optimizing your site, focus on speed and performance, as slow sites can lower your CVR. Use ICE (impact, competence, ease) to prioritize your CRO efforts, and conduct customer interviews and user testing to understand why customers aren't buying. By focusing on increasing AOV, improving conversion rates, and driving traffic, you can succeed in both marketplaces and DTC. Remember, it's a unique mindset and skillset,

Borrowing money to sustain or expand your business is one of the most controversial business decisions we all have to make. To Debt Or Not To Debt, That Is The Question & In this 2-part episode we’ll explore the issue, share personal insights and lessons, and encourage you to dig deeper with recommendations and resources. You’ll learn  7 Things Smart Business Owners Do When It Comes To Debt & Borrowing Tips on where to find effective funding in both the U.S. and U.K. The 2 factors banks use to evaluate your credit worthiness The #1 Skillset most top e-commerce sellers master and how it relates to debt The levels of risk appetite The riskiest financing moves you can make Recommendations for those considering using debt to grow Resources mentioned Reid Hoffman Lecture At Stanford: Entrepreneurship: A High-risk Investment Facing Competition through Innovation Live Life in Permanent Beta E-commerce and Business Books mentioned  Growing A Business, Paul Hawken

Borrowing money to sustain or expand your business is one of the most controversial business decisions we all have to make. To Debt Or Not To Debt, That Is The Question & In this 2-part episode we’ll explore the issue, share personal insights and lessons, and encourage you to dig deeper with recommendations and resources. You’ll learn  7 Things Smart Business Owners Do When It Comes To Debt & Borrowing Tips on where to find effective funding in both the U.S. and U.K. The 2 factors banks use to evaluate your credit worthiness The #1 Skillset most top e-commerce sellers master and how it relates to debt The levels of risk appetite The riskiest financing moves you can make Recommendations for those considering using debt to grow Resources mentioned Reid Hoffman Lecture At Stanford: Entrepreneurship: A High-risk Investment Facing Competition through Innovation Live Life in Permanent Beta E-commerce and Business Books mentioned  Growing A Business, Paul Hawken

In the world of e-commerce, finding a niche and building a strong brand is crucial to success. One way to do this is by identifying a gap in the market and creating a product that fills that gap. For Jake, the founder of a successful unisex skincare brand, this meant creating a product that was efficient, fast, and appealing to a broader range of men and women. In this article, we will explore how Jake identified a niche, created a unisex skincare brand, and used fast wins and efficiency to build a valuable e-commerce brand. Timestamps 0:00:00 | Interview with Jake Rosenberg, Founder and CEO of Crete Skincare Company 0:02:23 | Conversation on Skincare Company and Market Response 0:04:00 | Exploring the Shift from Male-Focused Skincare to Unisex with Crete Founder, David Lim 0:07:36 | Exploring Masculine and Feminine Niches for Customer Experience Vibes 0:09:02 | Exploring the Value Proposition of 1 Minute Skincare 0:11:52 | Discussion on Aspirational Outcomes and Fast Wins in Product Development 0:13:41 | Exploring the Psychology of Product Use: How to Create a Positive User Experience 0:17:48 | The Benefits of Delivering Fast Wins for Business Success 0:19:24 | Product Development: The Key to Capturing and Sustaining Attention in the Age of Attention Identifying a Niche: Creating a Unisex Skincare Brand Jake's brand was born out of his own need for a skincare solution that was both effective and efficient. After suffering a skiing accident that left a mark on his nose, Jake realized the importance of skincare but found that the existing options on the market were either too time-consuming or too gendered. He wanted to create a skincare solution that would appeal to a broader range of men and women and would take no more than 30 seconds in the bathroom. Efficiency: The Key to a Successful E-commerce Brand Jake knew that the most precious resource for his target audience was time. To create a successful e-commerce brand, he had to design a product that was efficient and easy to use. This meant creating a product that would provide fast wins – positive experiences in the first minute of use – and consistently deliver results. Fast Wins: Building Credibility and Creating Value for Your Brand Fast wins are crucial to building credibility and creating value for your brand. For Jake's brand, this meant creating a product that would give users positive experiences in the first minute of use. This approach helped his brand stand out from the competition and gave users the confidence to continue using his products. The value proposition of his brand was clear – it was a unisex skincare solution that was fast, efficient, and consistently delivered results. Conclusion Finding a niche and building a strong brand in e-commerce requires a deep understanding of your target audience and their needs. For Jake, this meant identifying a gap in the market and creating a product that was efficient, fast, and appealing to a broader range of men and women. By focusing on fast wins and consistently delivering results, Jake was able to build a credible and valuable brand that has achieved great success in the competitive world of e-commerce. What services do you offer? CTA 1 Check out https://krete.club/ for USA/Canada CTA 2 Email Jake for mentoring or consulting about DTC business development or product development jake@krete.club or krete.club

As an e-commerce brand owner, you know that product development is crucial to the success of your business. However, developing a new product from scratch can be a daunting task. In this article, we will discuss some product development hacks that can help you scale your e-commerce brand with minimal capital. Timestamps 0:00:00 | "Developing a Skin Care Brand: A Step-by-Step Guide" 0:02:51 | Exploring Options for Developing a Skincare Product 0:04:16 | Exploring the Radical Path of Formulating Skincare Products at Home 0:08:13 | Exploring Radical Business Practices in the Skin Care Industry 0:13:08 | "Exploring the Benefits of Building a Brand vs. Private Labeling on Amazon" 0:14:15 | Exploring the Benefits of Having a Complimentary Team for Product Development 0:15:46 | Heading: Understanding the Basics of Website Design and Influencer Marketing for Entrepreneurs 0:17:21 | Conversation on Understanding Products and Hiring the Right People 0:19:04 | "Understanding the Necessity of Outsourcing and In-House Specialists for Business Success" 0:21:09 | Conversation Summary: Balancing CEO and COO Roles in a Small Business 0:26:28 | Conversation on Setting Clear Expectations for Employees and Establishing Long-Term Relationships 0:28:39 | Conversation on Product Development: Process, Results, and Time Management 0:30:12 | Exploring Strategies for Faster, Better, and Cheaper Product Development 0:31:36 | "Exploring the Benefits of Researching Competitors' Products and Services" 0:33:22 | Exploring the Mindset of Product Analysis and Customer Experience 0:36:13 | Exploring the Benefits of Meticulous Research: A Conversation with [Name] 0:37:50 | "The Benefits of Thorough Product Testing: A Conversation with [Name]" 0:39:25 | Interview with Jake from Crete Brand: A Passionate Entrepreneur's Journey to Success 0:41:26 | Conversation on Crete Club and Business Advice 0:42:15 | Interview with Jake Rosenberg of Crete Club: Achieving Success Through Hard Work and Thoroughness Finding Your Niche/Brand The first step in product development is finding your niche/brand. Your brand should be something that resonates with you personally and solves a problem. Jake, the founder of Scare, had a mark on his nose from a skiing accident and was using whatever shampoo smelled nice. He realized that there was a gap in the market for men’s skincare products that were easy to use and efficient. This led to the creation of Scare, a skincare brand for men that only takes 30 seconds to use. Appealing to a Specific Set of Values and Behaviors It is essential to have a specific set of values and behaviors that you appeal to when developing your brand. Scare is centered around the idea of efficiency and saving time. Most men don’t want to spend 30 minutes in the bathroom, while some women actively enjoy the experience. Scare’s 30-second skincare routine appeals to men who want an easy and efficient solution to their skincare needs. Fast Wins Every product that you develop should give your customers a fast win. Scare’s products are designed to give customers a positive experience in the first minute of use. This is important because people are more likely to continue using a product if they see results quickly. A gym membership, for example, can be challenging to stick to because people don’t see results immediately. Scare’s products give customers a fast win, which keeps them coming back. Value Equation The value equation is a critical component of product development. The value equation is the dream outcome multiplied by the perceived likelihood of achievement divided by the time delay and effort and sacrifice. Scare’s products deliver a fast win, which increases the perceived likelihood of achievement. The 30-second skincare routine is also easy to use, reducing effort and sacrifice. Credibility of Your Promise It is essential to establish credibility with your customers.

In this episode we get a real-time update from Jason – he’s in the middle of managing a 5 day challenge for e-commerce sellers. Anyone wanting to develop their Amazon business with a customer challenge, or thinking of running a live event, whether to sell products or training, should have plenty to learn from Jason’s experiences this week. He’s got 400 participants – in this episode we’ll find out how it’s going, what behind the scenes lessons he’s learned, and even mistakes he’s made (and how he’s recovering from them). What you’ll learn What an online challenge is – and why consider managing one. Considerations for how long to run a challenge – the duration question. The goals and priorities of online challenges The psychology behind challenges How the Penny Gap applies to challenges How Clickfunnels can be used for online Challenges Resources for Amazon SEO Keyword Research/Keyword Ranking Taki Moore Book recommendation: $100M Pedro Adao is the expert on challenges

In this episode we get a real-time update from Jason – he’s in the middle of managing a 5 day challenge for e-commerce sellers. Anyone wanting to develop their Amazon business with a customer challenge, or thinking of running a live event, whether to sell products or training, should have plenty to learn from Jason’s experiences this week. He’s got 400 participants – in this episode we’ll find out how it’s going, what behind the scenes lessons he’s learned, and even mistakes he’s made (and how he’s recovering from them). What you’ll learn What an online challenge is – and why consider managing one. Considerations for how long to run a challenge – the duration question. The goals and priorities of online challenges The psychology behind challenges How the Penny Gap applies to challenges How Clickfunnels can be used for online Challenges Resources for Amazon SEO Keyword Research/Keyword Ranking Taki Moore Book recommendation: $100M Pedro Adao is the expert on challenges

What are first principles? And are there any for e-commerce sellers? In this episode we’ll explore that topic and explain how e-commerce first principles apply to your business in a powerful way. What you’ll learn The 3 Parts Of 1st Principles Thinking Applied To e-commerce. They are: 1.Identify and define your current assumptions. 2.Break down the problem into it’s fundamental principles. 3.Create new solutions The 5 Questions To Ask Yourself To Apply 1st Principles To E-commerce. They are: 1.What Am I working on right now? 2.What assumptions do I have about how this will help me? 3.Why do I think it will add business value? 4.How much am I spending in time or money? 5.Which basic economic or psychological principles involved? What Elon Musk Says about 1st Principles Thinking. Resources Mentioned The Goal, Eliyahu Godratt E-myth Revisited Blue Ocean Strategy Marketing Warfare (Al Reis & Jack Trout)

What are first principles? And are there any for e-commerce sellers? In this episode we’ll explore that topic and explain how e-commerce first principles apply to your business in a powerful way. What you’ll learn The 3 Parts Of 1st Principles Thinking Applied To e-commerce. They are: 1.Identify and define your current assumptions. 2.Break down the problem into it’s fundamental principles. 3.Create new solutions The 5 Questions To Ask Yourself To Apply 1st Principles To E-commerce. They are: 1.What Am I working on right now? 2.What assumptions do I have about how this will help me? 3.Why do I think it will add business value? 4.How much am I spending in time or money? 5.Which basic economic or psychological principles involved? What Elon Musk Says about 1st Principles Thinking. Resources Mentioned The Goal, Eliyahu Godratt E-myth Revisited Blue Ocean Strategy Marketing Warfare (Al Reis & Jack Trout)

How do you make decisions wisely and profitably? One of the most important things you can do in business is to get good at decision making. It may feel at times that all that matters is action. Certainly, action counts for a huge amount. Without action, nothing happens in your business. But that can lead to a big delusion: that what matters is just following a playbook. Do certain things in a certain order and hey, presto! A business that works. In reality, actions that matter are preceded by clear, high-quality decisions. The question then becomes how to make such good decisions. It could be Jeff Bezos’s famous “Type 1 and Type 2 Decisions” differentiation. It could be clarifying the nature of the goals is you’re pursuing. It could be getting clear on the deceptively simple question “What do I really want?” Whatever the principles you follow,  the way you approach decisions can have a powerful impact on the actions you and your team take. Which in turn changes the results you produce. What you’ll learn What all decisions force you to do The more important decision than “How do I make money online?” Jeff Bezos’s two decision types The 5 money goal types Jason has identified What “Return on Luck” is and why it matters Why momentum matters more than the perfect playbook Resources mentioned Greg McKeown: Essentialism Greg McKeown: Effortless  Principles by Ray Dalio  Atomic Habits by James Clear The Goal by Eliyahu Goldratt

Starting a wholesale sourcing business for Amazon can be a lucrative venture, but like any business, it requires some initial capital investment. Ascend Capventures is a company that builds and runs Amazon businesses for people. They offer services covering market and product choices, logistics, Amazon account management, and various business models such as direct from manufacturers, direct from wholesalers, and developing products. In this article, we will discuss the capital required to start a wholesale sourcing business for Amazon, the minimum working capital, and the factors that affect profit margins. Time Stamps 0:00:00 | "Welcome to the Ten K Collective Podcast: A Conversation with Will Bastard of Ascend Cap Ventures on Building and Running Amazon Businesses" 0:03:12 | "Exploring the Capital Requirements for Starting and Scaling a Custom Product Business" 0:04:03 | Conversation on Estimating Capital Requirements for Wholesale and Direct Manufacturer Business Models 0:05:51 | Heading: Benefits of Investing with Our Company 0:07:27 | Exploring the Benefits of Working with a Wholesale Management Partner 0:11:06 | Exploring Margin Changes in Ecommerce Business Models 0:14:25 | Exploring the Benefits of Private Label and Custom Product Sourcing on Amazon 0:16:10 | Private Label Business: Sourcing Manufacturers and Developing Products 0:16:59 | "Reflecting on the Benefits of Bulk Sourcing with Will Buster of Ascend Cap Ventures" 0:18:53 | Exploring Private Label and Wholesale Sourcing for Amazon Businesses with Will from Ascend Cap Ventures Starting an Amazon Wholesale Sourcing Business: Required Capital Starting a wholesale sourcing business for Amazon can be a lucrative venture, but like any business, it requires some initial capital investment. Ascend Capventures is a company that builds and runs Amazon businesses for people. They offer services covering market and product choices, logistics, Amazon account management, and various business models such as direct from manufacturers, direct from wholesalers, and developing products. In this article, we will discuss the capital required to start a wholesale sourcing business for Amazon, the minimum working capital, and the factors that affect profit margins. Understanding Infrastructure Fees and Working Capital Minimums Ascend Capventures offers infrastructure fees that start at $20,000, which includes access to their warehouse facilities in the USA and their team of hundreds of employees. This is similar to a franchising cost, and they also offer customized plans for aged businesses. However, in addition to the infrastructure fee, they also require a minimum working capital of $15,000. Why is the working capital set at $15,000? According to Ascend Capventures, this amount enables them to get the best initial deal from a good supplier and negotiate the minimum order quantity (MOQ) down as low as possible. This is based on their internal data and experiences, and they guarantee a sell-through in 90 days or refund the client. If the working capital is less than $15,000, building a business from scratch will lead to very low margins. For instance, if you pay $20,000 for infrastructure with a low $15,000 capital, you will only get a 20% margin on $5,000. Therefore, it is crucial to have enough working capital to generate strong profit margins. Product Sourcing: Essential Working Capital Minimums The minimum working capital required for products is also essential. Ascend Capventures recommends a minimum of $10,000 to $15,000, depending on the product and supplier. This will enable you to purchase the products in bulk, negotiate better deals with suppliers, and have enough inventory to meet the demand. Maximizing Profit Margins: Key Factors to Consider The profit margins in a wholesale sourcing business for Amazon depend on several factors, including the supplier,

The current political climate and global health crisis have disrupted many aspects of the supply chain, including sourcing from China. For ecommerce businesses, this means finding alternative sourcing solutions outside of China. One potential solution is sourcing from Latin America, which offers a growing consumer market and proximity advantages. In this article, we’ll explore the benefits of sourcing from Latin America, how to start sourcing from the region, and other potential sourcing options outside of China. Time Stamps 0:00:00 | "Exploring Sourcing from China with Will Bastard of Ascend Cap Ventures" 0:03:05 | Exploring the Challenges and Opportunities of Sourcing from Latin America with Will 0:03:38 | Exploring the Benefits of Manufacturing in Latin America for Businesses 0:07:06 | Exploring the Benefits of Sourcing from Latin America for US Businesses 0:09:07 | Exploring Opportunities in Latin America: Networking Strategies for Business Owners 0:10:03 | Exploring Alternatives to China for Sourcing and Manufacturing 0:14:13 | Discussion on US-China Relations and Dependence on China in Asia 0:15:39 | Interview with Will Bastian of Ascend Cap Ventures: Global Sourcing and Starting an Ecommerce Business on Amazon in 2023 and Beyond The Challenges of Sourcing from China China has been a dominant force in the global manufacturing industry for decades, with many businesses relying on China for their sourcing needs. However, recent events have highlighted the potential risks and challenges of relying solely on China for sourcing. Geopolitical tensions between China and other countries, such as the United States, can lead to trade barriers, tariffs, and other disruptions. Additionally, the COVID-19 pandemic has caused logistical and supply chain issues, such as factory shutdowns and delays in shipping. Sourcing from Latin America As China sourcing becomes more challenging, many businesses are turning to Latin America as an alternative. The region offers several advantages, including a growing consumer market and proximity to the United States. Tampa Bay in Florida, for example, is a popular location for businesses sourcing from Latin America due to its proximity to ports and transportation infrastructure. While labor costs may be slightly higher than in China, other factors, such as reduced lead times, can offset this cost. Other potential sourcing locations outside of China include Southeast Asia and India. Vietnam, in particular, has emerged as a strong alternative to China, with a growing manufacturing sector and a relatively stable political climate. Starting to Source from Latin America If you’re interested in sourcing from Latin America, it’s important to know the right people. Networking events, trade shows, and conferences can be valuable resources for making connections with potential suppliers and partners. One way to start building relationships is to attend industry events in Latin America, such as the eCommerce Summit in Buenos Aires or the Latin American Ecommerce Forum in Santiago. These events can provide opportunities to meet with local suppliers and distributors and learn about the region’s ecommerce market. It’s also important to have a clear understanding of the regulatory and legal requirements for sourcing from Latin America. This may include understanding customs regulations, import/export requirements, and taxes and tariffs. Mitigating Sourcing Risk One of the challenges of sourcing from outside China is the potential risk of supply chain disruptions. To mitigate this risk, it’s important to diversify your sourcing options and avoid concentrating your supply chain in just one region. This may involve sourcing from multiple countries or regions, or even sourcing from different suppliers within the same region. Additionally, it’s important to have contingency plans in place to address any supply c...