Firing The Man · with Ken Wilson · July 26, 2021 · 24 min
Summary
This episode highlights key takeaways from the Prosper Show, focusing on strategies for Amazon sellers to increase profitability and scale. It covers innovative financing through supplier terms, the booming aggregator market for Amazon businesses, and underutilized Amazon features like Amazon Posts and the importance of Amazon Live for product launches. Essential listening for Amazon operators looking to optimize their finances, exit strategies, and marketing efforts.
Key takeaways
Negotiate extended supplier payment terms (e.g., 20% down, 30% in 60 days, 50% in 150 days) to significantly improve cash flow and reduce reliance on predatory financing. Present suppliers with sales forecasts demonstrating increased order volume with better terms.
Understand the current demand from aggregators for Amazon businesses; this creates a favorable seller's market and potentially higher multiples for exits. Research and engage with aggregators to understand their acquisition criteria and referral programs.
Utilize Amazon Posts as a free social media-like advertising tool on mobile. Aim for over 500 clicks per ASIN per week with no more than two posts per ASIN to avoid spamming. Focus on lifestyle imagery and compelling copy.
Leverage Amazon Live for product launches and promotions. Analyze sales data to identify optimal live stream times and use it as a highly engaging, free traffic source for new listings and conversion optimization.
Actively seek Amazon reimbursements through services like Getida, as many sellers are owed significant amounts for lost or damaged inventory. Set up these services to recover funds with minimal effort.
Episode 83 In today’s episode, Ken and I talk about our major takeaways from the Prosper Show, a learning and networking event for established Amazon sellers who want to make their businesses more profitable and for service providers focused on offering business scaling. After the event, we felt excited not just for ourselves, but also for the entire e-commerce community. There are a couple of Amazon features that e-commerce owners should try now, and we share tips to maximize them all.&nbs...
What does this episode say about amazon & marketplaces?
Negotiate extended supplier payment terms (e.g., 20% down, 30% in 60 days, 50% in 150 days) to significantly improve cash flow and reduce reliance on predatory financing. Present suppliers with sales forecasts demonstrating increased order volume with better terms.
What does this episode say about finance & fundraising?
Understand the current demand from aggregators for Amazon businesses; this creates a favorable seller's market and potentially higher multiples for exits. Research and engage with aggregators to understand their acquisition criteria and referral programs.
What does this episode say about paid acquisition?
Utilize Amazon Posts as a free social media-like advertising tool on mobile. Aim for over 500 clicks per ASIN per week with no more than two posts per ASIN to avoid spamming. Focus on lifestyle imagery and compelling copy.
What does this episode say about product & merchandising?
Leverage Amazon Live for product launches and promotions. Analyze sales data to identify optimal live stream times and use it as a highly engaging, free traffic source for new listings and conversion optimization.
What does this episode say about amazon & marketplaces?
Actively seek Amazon reimbursements through services like Getida, as many sellers are owed significant amounts for lost or damaged inventory. Set up these services to recover funds with minimal effort.
