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#89 Why Amazon Got Me Up Early This Morning

Part of the “Summer Episodes”

This quick episode tells you why Amazon got me up early this morning. I’m not going to tell you why here – you’ll have to listen!

This episode is one of the **Summer Series** of bite-sized chunks of Amazon Strategic Goodness!

#85 What the sea can teach Amazon entrepreneurs about time management

#85 The sea…and Natural Rhythms

It’s funny how interacting personally with basic natural forces reminds you of some Business basics for Amazon. Here are a couple of thoughts that have struck me while swimming in the sea off the South-East coast of England:

There is a natural rhythm to everything in business. Just like the ebb and flow of the tide, it’s almost like a force of nature. If we learn to recognise hear or see those rhythms, we can work with them not against them.

Examples of natural rhythms include:

  • The economy of a country which has an Amazon marketplace: consumer spending ebbs and flows with the economy, which tends to follow the Business Cycle of around 11 years.
  • The seasonal ebb and flow of product demand in retail – especially on Amazon! Late November and December are normally epic demand for most products; January is often quite dead. BBQs sell better in the summer, and so on. Plan accordingly
  • So you need a marketing calendar: Feb: Valentine’s Day; Mother’s Day; Independence Day (USA) or Bastille Day (France)
  • You need to reverse engineer from this to your procurement (buying/sourcing) calendar: when do you need to place an order for products in order to get a product launched and ranked for Christmas sales?
  • Your own business will have natural rhythms to growth process – at what point do you need to outsource prep? (so you don’t have a living room or garage full of boxes!) When do you take on a VA?
  • Your own personal rhythms are also important: when are you at your most productive? When do you need to build exercise into your day and/or your week?

If you can schedule things in these various levels of business in a way that works with the natural rhythms rather than against them, you’ll find you are riding the waves rather than fighting against the tide!

This episode is one of the **Summer Series** of bite-sized chunks of Amazon Strategic Goodness!

#83 What 2 hairdressers can teach Amazon entrepreneurs

#83 Episode -Why your customer chooses you.

Differentiation -example: Hairdressers in Haslemere

  1. Think like a customer – go shopping for products like your own.
  2. First impression -look and feel (brand part one)
  3. Quality – perception and experience.
  4. Positioning (cheap and cheerful/expensive/exclusive)
  5. What people say about you (brand part two aka reputation)
  6. If they can’t differentiate on either they will shop on price
  7. Amazon is not the high street. Comparisons are near instant and brutal!So it’s even more important for us to differentiate than on the high street.

Part of the **Summer Series** of bite-sized chunks of Amazon Strategic Goodness!

#81 Richard Branson’s Top Productivity Tip

Richard Branson is famous as a serial entrepreneur. And a very rich and consistently successful one at that.

So when someone asked him for his best way to be productive, what do you think he said? Listen to the podcast to find out!

This episode is part of the **Summer Series** of bite-sized chunks of Amazon Strategic Goodness!

#78 Selling an ecommerce business with Coran Woodmass – Part 2

Who would buy my business?

Typically, from about $20k to $2.5mil, you’re looking at individual investors. Above that, from $2.5 to $5 million there is a bit of a black hole because individual investors don’t have that kind of capital. Some do, but it’s rare. Above that $5 million mark your are looking at private equity firms and larger businesses.

Let’s talk about the $20k to $2.5 million. These individual investors’  primary driver is fear of loss. They don’t want to lose their investment. So they are looking for an ROI better that what they would get if they left it in a bank or mutual fund. Within this groups of investors, you have a few different types.

Retirees

Many of the buyers Coran worked with early this year, didn’t know anything about Amazon. They were former business people that have retired and got bored with brick-and-mortar businesses so they started buying up FBA businesses. This type of buyer has business experience, but may not be tech-savvy or have and understanding of online business. They will typically look for a business that have been around longer.

You may need to educate them on how easy it is to run an FBA business compared to something with staff, overhead, or property. You can offer support and virtual hand-holding until they can run the business themselves. You will also want to upfront about everything, good and bad, about your business because if they find something down the road, they will bolt faster than other types of investors. Like we said, they have that fear of loss.


Another thing you’ll want to do is create procedures. Write them out as if it’s for your grandmother. Stuff like writing out how to log in to seller central. If you have staff or contractors that can transfer to the new owners, that would be awesome. Also, if there is opportunity for discounts from your suppliers for larger purchases, have that as well.

Executives

You also have high-paid executives make $100-200k a year and are looking to replace their income so they can live a life of leisure.

Online Entrepreneurs

Another is actual online entrepreneurs and other FBA businesses that may have rolled other businesses for profit. They have a large pool of capital and are looking for a competitive advantage. They will be looking for ways to boost the business’ profit. Not only are they looking to get a better return than the bank, but are also looking to add value.

Should you have an idea of what kind of buyer you want when you start the business?

Keep the buyer types in mind, but don’t build your business around it. You would limit your buyer pool to one particular type. However, it would be very difficult to build your business so narrow as to limit it to one buyer type unless you built a massive business to appeal to private equity.

What are the main things that you would need across all buyers?

Writing procedures will always be a big help. Have your spouse of a friend, that doesn’t know anything about selling on Amazon, follow your procedure and see if they can do it. Get your staff to write procedures about what their doing.

Let’s say you have a business that’s a year old and you need to sell it, what is the best way to go about it? Should you sell to another Amazon business?

We discussed the gold standard before and how you need to have so many products, be defensible, diverse traffic, and age. As you fall short in different categories, that narrows the pool of buyers as well as lowers the value of your business.

As far as selling to another Amazon business, Coran hasn’t done that yet but it’s an interesting idea. Typically a strategic buyer will be willing to pay a premium because they will be looking to apply their expertise to the business and add value. However, most of the FBA businesses Coran deals with tend to struggle with cash-flow and have a hard time keeping up with inventory. So an Amazon business will have to be fairly large in order to have the capital need to make that purchase.

Also, if you open your business up to your competitors, it will give them an inside look into your business with could hurt you in the long-run.

How do you build a sensible barrier so you don’t give inside information to a competitor?

Coran only works with a handful of qualified buyers and sellers at a time. The buyers are legitimate. They have the cash and have typically bought before and if he brings them the right business then he knows they are buying.

The next level down depends on how you advertise your business. If you’re using a broker, you’ll need to talk to them. For Coran, if that initial buyer pool isn’t interested, but it’s still a good business, he go wider and tap into his network of classified sites and other brokers that may have buyers. In that case, they will talk among themselves trying to find buyers for that business. They keep the information out of the public space as much as possible.

How do you make a product more defensible?

One thing that’s helpful is to add more products to a packet. A recent sale he did was where they had twice the amount of items to package, their packaging was great. If you don’t skimp on the packaging and your brand is strong, it adds a layer of protection that someone will have to get past if they want to compete.

Is brand strength important when trying to sell a business?

Absolutely. Unless you can build out 50 or 100 products, which would take a ton of capital, you’ll need every advantage you can get.

Is intellectual property valuable when trying to sell?

Yes. Brand registry on Amazon is great. Having a patent or registered trademarks is very good. A patent is good because while expensive, and won’t increase the multiple that an investor is willing to go for, it will make it more attractive compared to other businesses. If a buyer is looking at three or four businesses they are trying to decide between, this may give you an edge to sway them towards your business.

Pro tip:

Research existing patents on your private label items. Coran spoke of someone that is looking to expand their product line but is now caught up in a patent lawsuit over a very basic item. If you sell your business, the buyer will be liable for the history of every item so they will definitely be looking into any patent infringements prior to buying. Also, if there is a lawsuit while your selling, any possible sales will be over. If is shortly after a sale and there is an earn-out deal, it will complicate things.

Earn-out deal:

When your selling a business with ongoing income, the multiple they paid is linked to that income. Often, to reduce the risk for the buyer, they will offer you 70% or 80% of the purchase price upfront. Then there will be an earn-out, which could mean different things. It might include 90 days of support, in which you help them run the business until they get a handle on it. Sometimes it will be linked to income, which is something Coran tries to avoid. He has seen earn-outs of up to 12 months. They might leave 10% to you in equity in order to keep you involved in running it.

Since you are, potentially, legally involved in the company for 3 to 12 months following the sale, you don’t want to sell something that violates patent laws.

What are the best ways to protect yourself and avoid having patent issues?

Considering the complexity of patents, and patent laws, the best thing you can do would be to hire an attorney that specializes in patents. It will cost money, but when it’s time to sell your business this is the best way to do it.

As an ongoing business there are some tools that can help you do a quick patent search, but noting can compare to hiring an expert.

How do I find a buyer?

The important thing, if you find a buyer, hire a lawyer. You’ll want to protect yourself from any issues.

You can use services like escrow.com. It’s a very popular service when dealing with these types of transactions.

Flippa.com – The downside is that all transactions are public. So you don’t want to use this with an indefensible private label business. Definitely not recommended. They do have a service called deal flow, which is semi-brokerage. The listings can be confidential and you have access to more buyers.

Empireflippers.com – Coran has worked with them in the past and is highly recommended.

There are individual brokers out there. There are websites that have websites listings, but only if you have a lot of time to invest in it.

Coran, admits he may be biased, but he says the best way to go is with a broker. The deal structures can get complicated and you want someone who is going to be personally vested in achieving a successful sale.

Let’s say I have a business that is doing $5000 in EBITDA profit, it’s got 5 customized products but not original design, and had been in business for two years. What kind of multiple will that get?

As far as any FBA sales is concerned, they range from 1-3x EBITDA. With this situation, err on the lower side of things. Probably expect 2x, and you can move up or down from there. Let’s say the products are equal in revenue and you’re getting sales from somewhere other than Amazon. In this scenario you’re looking at 2-2.5x EBITDA; that would translate to about $120,000 – $150,000. In this. we’re talking about USD since most buyers use the US dollar.

How does it work when selling a UK based company to someone in the US?

We only deal in asset sales. So the company is on top of that and what we’re selling is everything underneath that. That would be your products, your brand, you website, your actual inventory, the central seller account, etc.

A sidenote about the seller central account, you can’t sell it outright. What you can do is transfer it to a new owner. Amazon doesn’t like it if you claim to be selling the account. So you just transfer business information, addresses, in the US it would be the EIN etc.

Things can get difficult if it’s a UK seller. Many in the US will be out automatically so it’s easier to just sell it to a buyer in the UK. However, since it’s an asset sell, you can definitely sell to someone in the US. The one thing that can be affected by selling to someone in another country are your suppliers and contractors. You will need to make sure they are comfortable working with someone in a different country. Some may have terms, like 60-90 day terms that might not be transferable. So you will need to work that out with your supplier. This is can be avoided if your selling within the same country. If your supplier is in China or other parts of Asian, they’re used to dealing with foreign companies.

Since it’s more difficult to sell a UK based company, is it viable to build up a UK based business?

Coran is currently speculating in the UK, he’s trying to build connections with buyers in the UK. In his experience, it is very limited since most buyers are in the US. If you want to build a UK business to sell, it will be difficult.

If you have a business that sells in the US and the UK, can you sell all of it or would you need to split it and sell the US business to a US buyer and hang on to the UK wing?

If you have a foothold in the US, even if it’s not the bulk of your sales, it will attract more US buyers so you would want to sell it all together.

What’s working well right now with Amazon businesses that are selling well?

Coran refers back to the gold standard. Being more defensible, have more products that are unique. People are becoming more familiar with the business model and are looking for where you are beyond Amazon.

How do listeners get hold of you or find out more about you?

thefbabroker.com

Make sure to get the toolbox Coran set up exclusively for Amazing FBA listeners at thefbabroker.com/amazing. Also, take advantage of his off to have a one-on-one chat that is only available via this link.

Do you have any parting words of advice for anyone who is considering selling their Amazon business or building one to sell?

Read The Snowball. It’s about Warren Buffet and talks about business and who’s buying and how to be defensible.

#76 Importing to USA, Brand Building & Email followup: Q & A Tuesday No. 12

Q 1 Corinne

First, I am not an American but want to sell [on] Amazon.com

I have sent a few small packages to Amazon FBA.

There was no issue at all until I started sending 15 cartons.

When I sent this 15 cartons, I don’t have Federal tax ID number.

Thereby I needed to spend US$ 500 to have freight forwarder to help me.

Then I tried 8 cartons through DHL which declared $1200 for the customs. However, it is still got rejected by the customs.

It seems FEIN is required if i want to ship my inventory to FBA.

I am not trying to escape any tax issues, but to get a FEIN number, I would need a legal address in US. I am not in US.

How do you guys deal with this?

A freight forwarder isn’t the same as a Customs Broker in the USA. Some companies do both, like Western Overseas Corporation. But it sounds like what you need is a Customs Broker.

You shouldn’t need a US address to get an EIN as a foreign entity (person or company). But if you need one (you do need a returns address for amazon or should at least have one), google. I used myaddressus.com – pretty cheap.

If you send in goods over the value of $2500, it’s a formal import so you’ll need a customs bond etc. At that point, I would use a Customs Broker, at least for the first time. That’s not the case here, but worth flagging up for future reference. 

Q2 Ben

Here is my newbie experience post #3. So I’ve been selling for about 3 weeks in the UK. Where am I?

I picked a great product. It’s flying off the cyber-shelves. I am about ½ way up page 1 for all my main keywords. I told myself to be ‘happy’ with 5 units a day. I was averaging 10-12 units per day, but have increased my price and now average 7-8 units per day. I have had days of 10+ including a day of 16 units. These are not giveaways, all giveaways were done in the first week. So why did I increase the price?

This first ‘test run’ was 500 units. At the current rate, I’m going to run out quickly. So I’m trying to find the balance between maintaining sales, and not running out of inventory. Am still undercutting some competitors at the current price, but also more expensive than some others.

I believe the reasons it’s going well so far are:

1. Branding. My brand is easily one of the coolest, and as I expand I’ll grow as a brand, rather than as “Bob’s generic stuff” which several of my competitors are doing

2. Social media. Many ‘gurus’ say – avoid social media until you are well established on Amazon. This is not a good move, in my opinion. I have an active twitter and Instagram account, and a new facebook page. OK I haven’t got many followers, but t’s growing and I’m getting a bit of engagement.

3. Branding. I said it again because it’s so important. Branding is everything. Cool brands get bought. Generic crap doesn’t.

Comments

Alex  You are doing well, but don’t talk about brand building. People don’t care. You drive them in your page and they just see information, reviews and price. Just set Ppc automatic. If doesn’t work move on.

Suzi I love to hear that you are growing a strong brand, and that you understand and appreciate how important it is. I cringe so hard when I hear people say your branding doesn’t matter…nothing can be further from the truth. Have you had any issues with counterfeits hopping on your listing(s)?

My response: it depends! 

If you just want to make sales on Amazon short-term (say next 6 months), I think it’s true that brand doesn’t matter much. Initially, customers will not have heard of your brand yet, and they mostly go with good images and price. Also, it is not realistic to expect Amazon to cross-sell your products even if they are in the same niche.

However, if you want to create a defensible business to later sell, you definitely need to create a brand. Also, even if you’re never planning to sell, if you want to create a Shopify store, to diversify and lower the risk of Amazon controlling your business,  you will need to develop a focussed suite of products. If you have multiple niches, you can develop multiple brand sites, but each one needs some unity for credibility.

Also if you do well, medium term even on Amazon, people can start searching for your brand or pay slightly higher prices for it, as long as you have lots of reviews by that stage.

Q3 David

EMAIL OPTIMIZATION: Hey Everyone…just a quick question regarding your post-purchase email autoresponder sequences. I am currently getting 8% and 9% conversion rates for feedback and reviews, respectively. I would like to increase this and was thinking of shortening each email to make more mobile friendly. Have any of you tested the length of copy an how this alters conversions? Thanks!

First of all, if you’re getting 8-9% conversion, you’re doing well. Average for most people I’ve spoken to about this (which was a while ago) was 5%, as it was for me last time I checked.

Regarding testing, I don’t know whether for example Feedback Genius or Salesbacker will do this for you automatically. I use a different system so I don’t think I have that option.

If you want to do it manually, then make sure you test a significantly statistically meaningful number. So I would be inclined to run three variations, one shorter and one longer, and I would try each of them for about 100 sales each.

Re. email follow-up sequences more broadly, I use three emails. Currently the 1st only offers help and a PDF and says thanks/please get in touch if any issues although Kevin King asks “why did you buy the product” which I may change to going forward.

The 2nd, after ben Cummings’s approach, asks the buyer to just hit REPLY and let me know why s/he bought the product. Similar to Kevin King but after the product has arrived. Only a small %age do but you do get replies in my experience.

THe 3rd then asks for Seller Feedback, which I can then follow up on and ask to be changed to review if it ends up being about the product. It’s a filtering mechanism.

THe point of the 2nd email is that if someone replies to that, they feel more obliged to follow through after the 3rd and actually write a review.

In David’s case, I’d be inclined not to mess with what is working too much but tweak it eg longer/shorter.

Or you could change the 1st email in the sequence. Or the 3rd. Test both variations and let us know!

#75 Prioritising Tasks – Overcoming Amazon Overwhelm Part 3

  1. WHAT TO WORK ON
    1. What you work on (effectiveness) is way more important than how well you do it (efficiency).
      1. Prioritising is absolutely critical. It is probably the single biggest factor after. This takes discipline, courage and energy. If you lack those, work on your mental and physical state. Go for a run. Phone a friend (Briefly!). Have a quick coffee. Whatever works for you. Then crack straight into it.
    2. How to identify what to work on:
      1. What worries you most?
        1. What are you avoiding that you know you need to do?
        2. Which area of the business feels most neglected? If you’re just starting out, it’s going to be product selection. If you’re next down the line, it will be finding suppliers etc.
        3. What keeps you awake at night?
      2. What great opportunity are you neglecting?
        1. e.g. a new product line;
        2. a new sales channel (eg eBay);
        3. building an email list;
        4. new marketing channels (eg Facebook)
  2. WHAT TO WORK ON FIRST
    1. COVEY GRID: Urgent vs. Important projects and tasks
      1. Urgent things are driven from outside you. I use an exclamation mark! to mark these
        1. external to your business e.g. HMRC (tax man in UK!); suppliers; Amazon
        2. internal to your business e.g. a VA or business partner
        3. They can fill your days but it’s reactive not proactive so it’s not a way to grow a business well. If you’re short of energy and time you may have to just deal with these however for now.
      2. Important tasks – are driven by long term impact. I use an asterisk * to mark.
        1. it can be avoiding large negative impact e.g. getting corporate tax return in on time to avoid fines and legal issues
        2. it can also be gaining long term opportunities e.g. more revenue from another sales channel (eg Shopify site or eBay)
      3. Tasks can be both urgent and important.
      4. Work on Cat. I tasks as a top priority
    2. The Covey 2X2 grid: classify your thoughts/projects/ worries:
      1. Cat. I urgent and important matters- things that have big impact and have to be done, e.g. getting corporate tax return in on time to avoid fine and legal issues.
      2. Cat II: Important but not urgent. Things that have a big impact but not driven from outside. Eg. for me, creating and gearing up email marketing, setting up a Shopify website; Exploring Vietnam as a place to source from
      3. Cat III – urgent but not so important, e.g., responding to an email from a potential supplier who needs to know from you before Chinese New Year closes factory for the month.
    3. The Covey Grid: prioritise
      1. Do Cat. I urgent and important first. Once done, try to avoid this being a crisis next time.
        1. example:tax return: put the date for annual corporate tax return in your iPhone calendar with a date 4 weeks before to get in touch with your accountant.
      2. Make time each day to deal with III urgent crises. Again, try to find a way to make this systematic so it doesn’t end up driven by urgency so much.
      3. CRUCIAL: Carve out a sacred time to work on Important but not urgent tasks.
        1. 3 hours a day is ideal if full time; 1 hour is good if part time; even 20 minutes is effective if you’re cramming it in very part-time.
        2. After you have dispatched the most urgent tasks or projects, go straight to your most effective ones.
    4. The Lee/Schwabb nuclear method:
      1. If you’re really overwhelmed, this is the most effective single method I’ve ever met:
      2. list your biggest worries/urgencies etc.
      3. [star the important and add ! exclamation marks to urgent] [my addition]
      4. prioritise ruthlessly from most important on
      5. limit strictly to 7 tasks. 5 is better. 3 is more realistic.
      6. Work on the most important/urgent task until it is done or pushed as far on as you can
        1. example: getting Freight Quotes.
          1. Email 3 potential Freight Forwarders to check what info they need
          2. Gather obvious info like weight, dimensions, supplier address from supplier. Check the product value frm supplier emails. That’s one email but a crucial one.
          3. Check receiving address in USA e.g. EZPrep. One email.
          4. Check which duty category your products are in. One quick look up
          5. That may be all you can do in one day. But you’ve moved the task on as far as you can.
          6. When you check email in the afternoon/evening, if you have all that info, collate it then send it the FF.
  3. TIME USAGE
    1. Lack of time is lack of priorities. Worth reiterating. Always aim for an outcome/goal!
      1. if you can’t plan for a year, try a quarter
      2. If you can’t think that far ahead, try the next two weeks
      3. If your energy is low and your brain is mush, plan the next hour at least! What do you want done when you stand up in an hour from your Mac?
      4. One hour of great work is probably worth more than a day of nonsense activity. I’m ashamed to say I still end up doing the latter too much. Forgive yourself and move on.
    2. Multi-tasking is BS for any important activities. Turn off all distractions when working.
      1. Don’t read business emails in bed. I’m bad at this but have learned it doesn’t help your relationship and also you worry about things you can’t change at midnight.
      2. If you need to talk to your supplier at 1 am, do it. But don’t kid yourself you’ve turned in for the night. You’re working. You’ll need to get up a bit later, next day, probably, at least after a day or two of this. That’s okay. Plan accordingly. Just don’t do it in bed or you’ll end up not sleeping because you’re thinking about business. Time to sleep is time to sleep, even if it’s just 4-6 hours a night for a bit.
      3. DO NOT check social media while you need to compose key emails etc etc
      4. DO NOT get seduced into checking email inbox when you just need to send an email out. If needed, compose your email on Word/Notes/ etc etc and then get in and out as fast as possible in the actual email programme. (I’m bad at this but I’m learning…gradually)
      5. It sounds obvious but don’t do a Pokemon Go and walk into the path of traffic while Skyping your chinese supplier. Confession. I’ve come close.
        1. Don’t even think of texting while driving. So tempting. So illegal and so dangerous. Listen to a podcast and accept you’re driving. Or, pull over and take care of it there and then.
    3. However, certain tasks can be LAYERED.  Examples:
      1. Listening to this podcast while running for example.
      2. Taking care of phone calls while walking to the PO to collect a parcel from Amazon with a supplier sample which you weren’t in to collect (guess what I’ve just been doing!)
      3. Reading and replying to emails while on a train. (Don’t do it walking down the platform in London. It’s full of fast moving people. Don’t embarrass me by asking how I know not to do this)
  4. STAYING POSITIVE
    1. Do a gratitude list every evening before going to bed. It’s amazing how effective this is. I’ve been doing it for several months now and it really does help you stay positive.
    2. Remember to build in exercise, at least some sleep and at least some decent nutrition. If you’re overwhelmed, remember to take care of your body! Nothing beats physical energy. 
    3. Only Connect – isolation is a dream killer! Get yourself into some kind of mastermind if you’re not already and find out how others cope with real life as an entrepreneur.

#74 Overcoming Amazon Overwhelm Part 2 – Energy

  1. EPISODE #74 : Your personal “state” – assess your personal energy/focus?
    1. how is your health/physical energy?
      1. If you’re exhausted, you may simply have to rest for a day, a week etc to recharge.
      2. If you’ve been living on takeaway food for 6 months (guilty), how about a week of decent eating?
      3. If you gave up on your exercise regime for lack of time, consider working out at least 3 X a week. Someone once asked Richard Branson what to do to get more done. His answer? “Work out”
    2. how is your mental focus?
      1. Lack of priorities means you haven’t really genuinely made big picture decisions (see part 1 episode). Make some. They will mutate, which is fine, but get a clear direction. Then work on the priorities as below.
    3. Be realistic
      1. You’ve just started another business, quit your day job, had a new baby on top of your existing young child? (you know who you are…!) Of course you’re exhausted. You’re going to have to outsource heavily and/or accept that progress will be slower. Doesn’t mean you won’t get there. Just don’t kid yourself you can work 20 hour days for months at a time. Won’t happen.
    4. Get help.
      1. If you have a mentor, reach out.
      2. If you are in a mastermind, reach out.
      3. If you have an accountability partner, reach out.
      4. Don’t isolate. Equally, don’t connect to lots of randoms on Facebook. Connect to chosen people who are focussed and helpful people. Ignore moaners and bullshit artists. HOWEVER…
    5. Cut out information overload. “Increased output necessitates decreased input”  (Tim Ferriss again).
      1. If you’re on Facebook groups about Amazon every ten minutes, cut that out!
      2. Stop reading the news. Especially if you live in the UK. Brexit and other nonsense will carry on whether or not you read news/listen to Radio/use Youtube. 
        1. NOTE: I’m not doing as well at this as I should. I used to think it was “irresponsible”. I no longer do. If you can’t use the information, it has no practical value. When you had to vote, there was practical value in politics. But the referendum is over. You have little control over politics. Ignore it – OR join a party and demonstrate! Choose. Just don’t passively fill your mind. If you are not overwhelmed, by all means follow events. We live in interesting times. If you’re overwhelmed, it’s a toxic luxury.
      3. Cut out social media. Totally.
        1. Facebook is like Crack for addicts. Youtube is even worse for me personally. Twitter not. etc.
        2. Note: These things are designed to be addictive. They are monster business successes because of this. Learn from their example but stop being a victim. Be the creator of addictive products, not the consumer of them.
      4. Replace online crap with exercise for 20 minutes a day
        1. Run, yoga, whatever it is. Exercise is way way more powerful than yet another bit of info. Get into your trainers and listen to this podcast while you run!
    6. Minimize email time.
      1. Tame your email checking times
        1. NEVER start your business day with email. Start with urgent matters followed by business growth tasks.
        2. Limit email to twice a day max. If you’re really busy – once a day max.
        3. Try to take care of it while commuting on a train etc. Or in spare moments. I find I get emails done 3X quicker on my iPhone on a train than sitting at a desk. It’s harder to type for starters! That’s a  GOOD thing. Limit the undesirable!
      2. Put the timer on!
        1. When you check emails, put a time limit on. I generally find in a full 8 hour+ day, I can check emails for 30 mins in am and 10 mins pm and I’m done.
        2. When composing an important email, put a time limit on. I find 3-5 minutes enough for most.
        3. If you spend 10 minutes plus,  because it’s crucial and the info needs to be accurate, make it a template you can re-use. e.g for getting supplier quotes etc.
      3. Be ruthless and systematic when you do touch email
        1. Delete things from your inbox first. Most things simply need deleting. Don’t read obvious nonsense
        2. DO NOT read interesting but irrelevant emails. Archive them and look at them in your mythical “spare time” later
        3. Respond to crucial emails first. If you don’t get to others for a few days, tough. They’ll live.
        4. develop the art of polite concision. Ie without being rude, be simple and very direct
        5. Give clear fundamentals e.g. what, when, how, why etc. – e.g. “I need X,Y,Z pieces of info by A deadline for B reason”
        6. especially, use numbered lists. e.g.
        7. “ Dear Supplier, I need info for my freight forwarder.  Please tell me the following info about product X: 1 weight of each carton in kg 2. Dimension in cms; 3. total value of the consignment; 4. Your address. Please let me know by Friday 22 July latest. The quicker I get this, the quicker I will place an order with you.
          Thank you very much in advance! I appreciate your work. Best wishes, Joe Bloggs”

#73 Overcoming Amazon Overwhelm Part 1

EPISODE #73 -Overcoming Amazon Overwhelm

“Lack of time is lack of priorities” (Tim Ferriss). This will be addressed in a later episode in detail.

    1. Know that the better you set priorities, the easier decision making will be. It will still require energy and courage, however (see II below)
    2. But here, you still should do a quick and dirty Goals review (see #73)
      1. what do you want from your life ?
      2. How do you want your amazon business to serve that? (Ultimate Goal)
        1. Passive income stream? How much? By when? Why? e.g. £2000 a month person income by July 2017 to replace day job I hate.
        2. Exit strategy? How much? When? Why? e.g. £100,000 by end 2017 in order to buy property for passive income and diversify risk.
      3. Working from this goal, What strategic goals should you have for your business? Assess all decisions based on whether they serve your ultimate goal for the business?

#72 How your Amazon Business serves your Amazon Goals

#72 How your Amazon Business serves your Amazon Goals

This is a quick podcast just provoking thought more than anything else: remember what your “Reason Why” is for creating an Amazon business in the first place. At this time of year, with beautiful weather in the UK (for once!) and in  holiday season, it’s a natural time to reflect.