5) Peace of Mind.
Knowing I have the money in my account to pay off my CC if needed takes a huge load off.
Flexing 99k on my plum card was fun, but let’s be honest that weighs HEAVY on you.
I’m done running my business like that.
My Amz + Wm business will be cash only in the next 1-2m👀
I will have a set amount of money to put into each one. I will not be spending more than what’s in my bank account and is liquid cash.
Im thinking of 1-2k for Walmart and 10-15k for Amazon starting off.
Here’s why👇🏻
4) Scale your business safely.
You determine if you want to invest your profits or take the profit out as a payment to yourself.
You determine if you want to invest 25-100% of the profit.
Easy way to maintain or grow your business depending on your goals.
I just recently saw a post about the 80/20 rule.
“Simply put, the 80/20 rule states that the relationship between input and output is rarely, if ever, balanced. When applied to work, it means that approximately 20 percent of your efforts produce 80 percent of the results.”
What is AIP?
AIP = Amazon Influencer Program
Make a 45+ sec video of a product sold on Amz.
Upload the video directly on Amz. It will appear on the product page & competitors page.
Earn ~4% commission per sale.
I’ve made $600+ so far in less than 2m
Read caption below👇🏻
What are the basic supplies you need to get started on Amazon?📝
-Thermal printer (Rollo)
-Thermal printer labels (Shipping + fnsku labels)
-A set of Polybags
-S/M/L Walmart Boxes (A couple of each size)
-Shipping Scale
-Packing Paper
-Tape
6) Adjust when needed:
As you get closer to your goal, you may realize it’s going to take less or more time to get it done.
Don’t be afraid to adjust the deadline if needed.
——-
Now go set some goals!🙏🏻
4) Set deadlines:
Write down the exact date this goal will be accomplished. Don’t give yourself too much time, but don’t try to rush it either.
5) Have accountability:
Set daily reminders to stay on track. Stay focused and disciplined.
Things my CPA told me I can write off in my e-commerce business:
1. Softwares
2. Inventory Reimbursement Services
3. PPC Ads
4. Business Insurance
5. Mileage on your vehicle
6. Gov’t licenses & fees
8. Cell Phone
9. Home Office
10. Internet
Want To Know A Mistake 9/10 Amazon Sellers Will Make Their First Year?
Going into DEBT👀
How do you become the 1 out of 10?
Here’s how:
-Avoid Amz loans
-Never pay interest (0% APR cc, pay off on time, etc)
-Scale with liquid cash not cc
Your business debt < Inventory assets
What can you do to increase your revenue?📈
1) Use PPC/campaign manager to increase sales
2) Build off your current catalog
3) Offer services (coaching/course/group)
4) Add a new supplier
5) Branch out (PL/WLS)
6) Open a new account (shopify, etsy, ebay, walmart, wholesale, etc)
4 Things My CPA told me that you need to hear:
1) Credit Card Interest will bleed you dry.
2) For taxes you either write off mileage (personal car) OR actual expenses (business car)
3) Low price items <$15 leave little room for profit.
4) Don’t overspend on softwares.
How can you write off part of your home as a business expense?
-store products in your home
-don’t have any other location for your business storage
-use the storage space consistently for the business use
-the space is separately identified for storage/business use