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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)
Quality 1 to 1 Private Label/custom product mentoring clients
- (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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