214 Forget New Year Resolutions – New Year REVIEW for Amazon Sellers
It’s January which means that it’s time for New Year Resolutions. Today we’ll be talking about how New Year Resolutions are a bad idea and how you should instead do a New Year review.
Now, let me start by apologising for the long absence. As you know, the holidays are a busy time for Amazon sellers. This year was even more so for me because I was helping someone run their business. He managed to raise $250,000 on Kickstarter for a great new product and was looking for help running the Amazon wing of his business. If that’s something that interests you get in touch at firstname.lastname@example.org. This isn’t for everyone and I’m going to be very selective about who I work with.
There will be upcoming episodes looking back on 2017. It’s very important to look back and review your business and learn from it. We will also be talking about goals for 2018 as well as the usual experts in the industry.
We have an upcoming interview with CJ Rosenbaum, the Amazon Sellers Lawyer. We’ll be discussing account suspension. I highly encourage you to tune in for that one because account suspension can happen to anyone at anytime and you need to be prepared.
After that, we have Brian Burt talking about his new product, the AIM Course. The Amazon Influencer Marketing course. I’ve been testing it out and I can tell it’s going to be really important in 2018. It’s a great course to learn how to drive traffic to Amazon in an affordable way.
Today I really wanted to talk about goal-setting. This time of year is traditionally the time when people set goals and new year resolutions. While I am a fan of setting goals, I’m not a fan of New Year Resolutions.
January is not a good time to set new goals. It a low-energy time of the year. It’s better for reviewing what’s happened. You have just come off a crazy period after the holidays and people are really starting to use your items. You’ll be getting a lot of reviews from people that loved your product or maybe found some flaws.
Reducing Your Business
This is a good time to also reflect on what you can cut out. This may be a product that is under-performing or tasks that can be streamlined or eliminated. In working with this new client, I found there are ways that we can improve our communication so we’re not wasting time. You can use a tool like https://toggl.com/ to track your time and see where you can spend your time better.
Amazon is not a passive income. There’s a lot that goes into it that will grow your business. There may be tasks you are spending too much time on that can be outsourced.
When reflecting on your New Year Review, remember Tim Ferris’ 3 rules of delegation. Eliminate, Automate, Delegate. Figure out what needs to be eliminated. Then figure out what can be automated. Then determine what should be delegated and outsourced.