Process To Ecom Profits Podcast

Especially with the EIDL loans that came out in 2020, many sellers may be looking at potentially paying back their loans early.   While sometimes this can be a good idea, sometimes you want to look at the amount of interest, your ability to borrow again, and your future growth plans before making a final decision. 

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com
Mike Micaholwicz- MikeMichalowicz.com

01:33 When should you consider not paying back that loan early when you have access to the capital?

02:22 Consider if paying your loan off early will save you money.

03:19 Why might you not want to pay your loan off early? 

08:06 When is it a good idea to pay loans off early?

11:20 Understanding the role and importance of forecasting.

13:50 Examples of how paying loans off early have not worked out for Cyndi’s clients.

18:13 Avoid debt spirals that can follow loans for Amazon sellers.

22:20 Taking a look to adjust projections to account for the pandemic leap in sales velocity. 

24:30 What budget do you have allotted to test new ad strategies, products, and distribution channels?

29:26 Five Minute Fix: Understanding lead times and how that impacts your overall stock levels. 

At every stage of business, there is always growth and improvement needed to get your business to the next level.   There is always more to do.  That leaves the question, “What do I need to fix next?”  New York Times Best Selling author  Mike Micahlowicz shares how to assess your business to see what needs to be optimized next to help your business give you the profitability and lifestyle you are looking for.

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com
Mike Micaholwicz- MikeMichalowicz.com

Skip To:

02:03 What are the business hierarchy of needs?

07:36 What is the importance of lifestyle congruence?

10:25 Why is it essential to watch profitability as we grow our sales?

13:35 How can profit in your business help you by order and role alignment?

15:26 Understanding Scaling vs Growth

20:11 How can being the lynchpin in your business hurt you in the long run?

26:33 Understanding impact and legacy as a part of your entrepreneurial journey.

38:55 Five Minute Fix: Using and Advertising Account within Profit First

Eddie is the owner of Hub Dub LTD, a 3PL (third party logistics) company that specializes in marketplaces like Amazon and Walmart. Eddie Levine specializes in logistics specifically for Amazon.   In this episode, he shares specific tactics and strategies to lower your overall cost to ship to Amazon and better control the check-in time of your products into FBA warehouses.

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com

Skip To:
02:14 What is a 3PL, and what do they do?

03:45 When is the right time to look at potentially using a 3PL, even if you already have a warehouse or fulfillment portion of the business?

06:11 When does it make sense to have a 3PL away from a port

08:20 When should you move off of small parcel (UPS Partnered Shipping)?

10:04 What are the considerations between FTL vs. LTL?

15:00 When does it make sense to send a truckload with less than a full truckload with FTL?

20:17 Have there been any changes on Amazon that you think will influence logistics?

28:00 When should you consider hiring a 3PL?

29:24 What questions should you be asking when interviewing 3PLs?

32:25 Should you ship directly from China to your 3PL or just to the port?

33:25 Why not send inventory directly from China to the Amazon warehouses?

37:52 Five Minute Fix: Keeping Your Operating Expenses Under Control

Beth Fynbo shares about growing a business after being on Shark Tank and turning down a deal with the sharks.  Beth shares what it takes to grow a successful, self-funded baby brand to 5 million a year in annual sales.  Beth is an entrepreneur, mom, and veteran.

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com
Beth Fynbo- Busybaby.com

Skip To:

03:50 Beth’s biggest unexpected obstacle.

05:50 How did you prepare for being on Shark Tank?

08:06 How did the exposure of Shark Tank affect your growth?

09:00 Does Shark Tank help you prepare for the sales spike after airing?

12:00 What are challenges in rapid growth?

14:38 What prior experience was most helpful in your growth?

23:32 What is your Seller Super Power?

28:45 Five Minute Fix: Using Separate Bank Account for Cash Flow Management

In this episode, Robyn Johnson shares specifics on how to get the most out of their advertising budgets.  Robyn’s agency works with companies of all sizes and has helped many brands overcome advertising obstacles. 

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com

Skip to:

00:55 What are some common marketing mistakes when it comes to Amazon?

04:30 Getting familiar with important Advertising metrics on Amazon

10:08 Understanding inventory control’s role in profitability

12:00 Issues that can cause you to not get results with an agency

17:20 What can you do to lower your advertising cost over time?

20:05 Tips for getting increasing yield from your advertising on Amazon

21:50 Five Minute Fix: Tips for creating Inventory and Credit Card bank accounts for Profit First

Cyndi Thomason and her team have seen hundreds of sets of e-commerce businesses.  She shares what she has seen makes a difference in making an unprofitable business profitable. 

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com

Skip To:

00:55  The root causes of poor profitability for e-commerce.

03:10 Why do business owners avoid knowing their numbers?

06:21 Why the myth, “sales solve everything,” is so dangerous.

07:18 How attachment to your products could be costing you more than you think.

10:22 How can you reduce your operating expenses?

12:34 What is a "good" gross margin?

17:39 How can you increase your gross margin?

20:54 When do you need to fix before starting Profit First?

28:20 Five Minute Fix: Protecting access to your Amazon account

We are so excited to share with you our plans for this podcast.   This show is dedicated to helping people grow their businesses more profitably.  In this episode, learn about our hosts who have years of experience in the Amazon and e-commerce space.

Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com