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E34 - Building a Brand Part 5 - Keeping your profits
So far, we've talked a LOT about making that cash register ring with a new sale. If you have the Amazon, Etsy or Shopify app, you already know that it chimes whenever you sell a product, which can be a hugely satisfying and addicting sound.
However, what matter most is not the cash that you earn, but the cash that you KEEP. Today, I discuss the vital importance of cost management, and how you can maximize the amount of money you actually keep after the fees and costs are deducted.
Some Highlights include:
1. Advice for new sellers, what expenses are vital, and which ones aren't? Don't just slash every cost without considering the long term consequences.
2. Experienced sellers - We often chase shiny objects, special software, or we allow profits to "bleed" away by not managing our banking properly.
Join me and hundreds of other sellers in the Low Hanging System, the training and mentorship program that got me started with my own business! Click here to sign up (I get a commission if you do sign up, which helps pay for the cost of running this here podcast!)
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By Adam SchneiderSo far, we've talked a LOT about making that cash register ring with a new sale. If you have the Amazon, Etsy or Shopify app, you already know that it chimes whenever you sell a product, which can be a hugely satisfying and addicting sound.
However, what matter most is not the cash that you earn, but the cash that you KEEP. Today, I discuss the vital importance of cost management, and how you can maximize the amount of money you actually keep after the fees and costs are deducted.
Some Highlights include:
1. Advice for new sellers, what expenses are vital, and which ones aren't? Don't just slash every cost without considering the long term consequences.
2. Experienced sellers - We often chase shiny objects, special software, or we allow profits to "bleed" away by not managing our banking properly.
Join me and hundreds of other sellers in the Low Hanging System, the training and mentorship program that got me started with my own business! Click here to sign up (I get a commission if you do sign up, which helps pay for the cost of running this here podcast!)