On today's episode, I'm joined by licensed CPA and Amazon seller Anna Hill. Anna started on Amazon as only a seller in January 2014 after deciding that she was tired of the "CPA firm rat race." She started on Amazon during the Frozen Frenzy, and when that frenzy dwindled, she says she has learned many valuable lessons from the experience.

Today, we discuss how her mindset has evolved since the beginning of her Amazon career, how she has helped thousands of sellers navigate the uncertain and often confusing waters of finances and taxes, and her insight into pivoting our businesses as Amazon continues to change and evolve.

 "If you don't have order, it tends toward chaos." – Anna Hill

 Today's Topics Cover:

• Recognizing and understanding that change in business is not uncommon.
• Why you should never invest more in your business or spend more on inventory than you can afford to lose.
• Extenuating circumstances in business
• Establishing an insurance policy for yourself such as a financial plan, hiring a financial planner or trusted advisor to create a benchmark framework with goals that allow for some "wiggle room."
• Why we believe that opportunities at Amazon will continue to improve moving forward, but it is essential to try to expect the unexpected and plan accordingly.
• Using this time to "do your homework."
• Why you shouldn't make business decisions out of panic or fear.
• Your customer isn't always necessarily the buyer of your inventory. There are other customers to consider.
• Why it is important to reach out and learn from other people.
• Why it is important to make long-term strategic plans for each upcoming quarter.
• How considering the possibilities that could happen and how you can handle those situations then writing them down can help you approach the issue better once the dust has settled.
• Why you shouldn't "opinion shop."
• Why it's important to surround yourself with like-minded people – people wanting to rise and grow.
• The benefits of having an accountability partner to help you balance and level your business.
• Understanding your debt and knowing how much unsold inventory you hold.
• Know when to outsource

 

Approach adversity as an opportunity instead of a wall.

 

Resources Mentioned:

• Our blog post: 7 Things You Can Do Instead of Panicking
• Fresh from the Lemonade Stand book by Darrell Mullis and Judith Orloff
• Think & Grow Rich book by Napoleon Hill

 

Connect with Anna:

Accounting We Will Go (Facebook Group)

 

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