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Episode Info

Episode Info:

Accounting and bookkeeping are often two of the least-desirable tasks of being an entrepreneur. In fact, many new entrepreneurs admit to procrastinating when it comes time to “crunch the numbers.” What many new Amazon sellers often fail to realize is how knowing their numbers directly impacts the profitability of their Amazon business.

 

This week, we’re explaining why it’s critically important for Amazon sellers to stop procrastinating and start crunching the numbers to ensure they are building a profitable business. We explain the importance of creating a budget, identifying your spending habits, and determining the break-even point of your Amazon business as well as how they can help you identify exactly how profitable your business really is and the steps you need to take to increase your profit margin. We also share tips and strategies you can use to increase your dollar-per-hour rate and explain the importance of making small sacrifices today to ensure you reach your future goals.

 

“If you don’t know that you’re being profitable, how do you increase your profits?” - Amy Feierman

  

This week on the Amazon Files:

 

  • The importance of identifying your spending habits.
  • How your spending habits impact your profitability.
  • How budgeting helps increase your profits.
  • The difference between variable costs and fixed expenses.
  • The importance of finding your break-even point.
  • What is a “percentage plan” and why Amazon sellers need one?
  • The importance of setting aside money for taxes.
  • How to increase your average sale price on Amazon.
  • The importance of paying attention to your ROI and profit margin.
  • How to identify your dollar-per-hour rate.
  • How outsourcing can increase your profitability.
  • The importance of investing time and money to build and scale a profitable Amazon business.
  • The importance of making sacrifices and being disciplined with your money.

 

Resources:

 

 

 

Related Content:

 

  

Jumpstart Your Amazon Business Today!

Are you ready to jumpstart your Amazon business but don’t know how? We can guide you step by step through easy-to-understand video instructions for your Amazon business must-haves. We’ve got everything you need in one place -- from setting up your Amazon account to shipping your items to Amazon fulfillment centers. Go to Start FBA Today to start your exciting Amazon journey.

 

Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along their business journey one step at a time with your hosts and Amazon experts, Amy Feierman and Kristin Ostrander. If you enjoyed this episode, head over to iTunes, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword Part Two to join us on Facebook. Each week we host a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.

 

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