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January 10, 2020

Start/Stop/Keep List – How to make New Year Resolutions for Entrepreneurs

January is the start of a calendar year. As such, it’s a traditional time for new year’s resolutions. But it’s also a lower-energy time of the year. As such, it’s a natural place to pause and reflect before moving on to the next round of activity.

The Start/Stop Keep process.

Rather than just planning future goals in a vacuum, it’s good to move from reflecting on the last year’s experience. Then it’s a much smaller, simpler job to move on to some plans for the new year.
There is a neat process of creating three lists that really helps with this kind of periodic review:
(By the way, it’s also a great plan to do this every 90 days ie every quarter too)

Here are my Start/Stop/Keep lists for January 2020 as an example:

Keep

  • (several members have been doubling revenue annually so far…)

Private Label Course (PLP) but iterate on it (See “Start” list)

  • (with business experience and above all, realistic levels of capital)

Stop

The wrong Mentoring clients for Private Label

  • without enough capital for this business model; or with a big mismatch between ambitious goals and small capital

“Pure” Private Label as the end game

  • – it can often be part of developing a unique product; but in the end, customisation is the real way to get sustainable profits on Amazon

Start

Partnerships with trusted partners:

  • Quality Retail/Online Arbitrage (RA/OA) service providers eg training, information for Online Arb etc.
  • Wholesale business model training with Dan Meadors of thewholesaleformula.com
  • Shopify (winningonshopify.com with Jason Miles)

Masterminds

  • Restarting the Million Pound Mastermind for sellers doing at least £100K a month($130K USD) per month or over £1 million per year
  • Starting the Six Figure mastermind for those doing at least $100K USD a year (so from $8.3K a month)

Other

Version 2.0 of the PLP course (“Private Label Process”)
Blending off-Amazon
and on-Amazon marketing business models.

Watch How to make New Year Resolutions for Entrepreneurs

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Michael Veazey


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