This episode offers a transparent mid-year review of an ecommerce business's 2018 goals, covering product development, international Amazon expansion, and sales optimization. The host details progress on 18 goals, highlighting successes in Amazon PPC optimization and organizational structure using the "Traction" methodology, while also candidly addressing setbacks in revenue targets due to Q2 challenges. It's a valuable listen for ecommerce operators seeking a real-world example of goal tracking, strategic adaptation, and performance review.
Key takeaways
Regularly review and track progress against clearly defined goals, adapting strategies as needed based on performance and market changes.
Prioritize international expansion into new marketplaces like Amazon Canada and UK, and plan systematically for subsequent launches in other regions.
Continuously optimize Amazon PPC campaigns to reduce advertising costs while simultaneously increasing sales volume.
Implement structured business management methodologies like "Traction" (EOS) to improve organization, accountability, and individual goal setting within the team.
Be transparent about both wins and struggles in business, using setbacks as opportunities to re-evaluate and adjust strategies for the remainder of the year.
It's the middle of July. Man, where did the year go? So much has happened since I last gave you guys an update in April so this one is due. The last couple of months have a been marred by struggles. However, our wins definitely rank higher than our struggles. As a company, I'd say we are in a good place and poised to be in an even better one before the year is out. So, let's get to it. Here's a status update for each of my 18 goals in 2018. Develop 50 new products - on-track, have hit the halfway mark in terms of purchase orders Launch on Amazon Canada, UK, Germany, France, Italy, and eventually, Australia- we're already on Amazon CA and UK, eyeing a launch in Germany & France by the end of the year Optimize our Amazon listings to increase sales by 50%on-track Optimize Amazon PPC - definitely ahead of the curve here, cost of advertising has gone way down for us while sales continue to go up Implement the concepts in the book Traction in our business - we've gotten more organized since implementing the concepts in this book; individual goals have been set out for employees prior to Q3 Reach $10 million in revenue with a 10% net profit - we're frustratingly behind on this, problems in Q2 have set us back and currently, we are still at the $2.5-million mark Lose 12 lbs - have already lost 6.3
What does this episode say about product & merchandising?
Regularly review and track progress against clearly defined goals, adapting strategies as needed based on performance and market changes.
What does this episode say about amazon & marketplaces?
Prioritize international expansion into new marketplaces like Amazon Canada and UK, and plan systematically for subsequent launches in other regions.
What does this episode say about paid acquisition?
Continuously optimize Amazon PPC campaigns to reduce advertising costs while simultaneously increasing sales volume.
What does this episode say about founder & leadership?
Implement structured business management methodologies like "Traction" (EOS) to improve organization, accountability, and individual goal setting within the team.
What does this episode say about product & merchandising?
Be transparent about both wins and struggles in business, using setbacks as opportunities to re-evaluate and adjust strategies for the remainder of the year.
