Managing your finances can be a nightmare. These tools and services reduce headaches, increase accuracy and help find new opportunities.
Very often, marketplace sellers focus on the more exciting parts of their business, like product sourcing, and shy away from areas that they find boring, or difficult, like managing their finances.
This can be counterproductive, because no matter how you feel about getting your finances in order, it’s a necessary part of running any business. It’s a discipline that sellers need to embrace, and become proficient at, so they really understand the numbers that matter.
You don’t have to spend hours in Excel to keep on top of your record keeping and accounts. There are tools and services specifically made to help manage bookkeeping for ecommerce businesses. These help make the process more efficient, while also minimizing the risk of errors.
There are also tools that produce reports to help you see how your business is doing. It’s easy to lose sight of the bigger picture when you are busy all day dealing with suppliers, listing products and providing customer support. But being able to see how profitable you are, at any time and at any level of detail, is crucial to business success.
Expanding into new product lines, or increasing purchase levels to get better discounts, can also make a big difference to your business. Some sellers choose to take out loans, or use other cash flow solutions, so they can take advantage of new opportunities when they present themselves, or plan for the seasonal ups-and-downs of ecommerce.
In this post I’ll walk you through the Financial Management category of the Web Retailer directory. It covers Cash Flow and Loans, Accounting Connectors, Ecommerce Accounting and Sales Tax and VAT.
Greg Elfrink lays out the blueprint for creating a streamlined business that will sell for the maximum price in the minimum time
This post is by Greg Elfrink, Content Manager at Empire Flippers, a broker specializing in online businesses. Empire Flippers has sold dozens of FBA businesses, and earlier this year completed its largest ever sale: a $1.7 million Amazon FBA business.
It can be an intense, stressful but rewarding process building up your ecommerce store to a level of profitability. However, the reward shouldn’t be focused on the profit you earn every month, as there is a much bigger reward waiting for you: your ecommerce store’s exit plan.
In other words, you could take all of the sweat equity you put into your business and sell it for a large lump sum of money. That capital can be leveraged into all kinds of new projects. You could choose to invest in new ecommerce businesses, buy physical real estate or even pay off debts.
But selling a business takes preparation. Buyers are looking for well-run, streamlined, predictable businesses. If yours is profitable, but chaotic, then it’s going to be much harder to sell.
In this article, you are going to learn exactly how to build your business so it can be sold quickly and at the best price possible. We are going to cover what you need set up right away, how your business should look six months out from being sold, and the final tweaks you need to make in the three months before you sell it.
Game theory turns repricing into a strategic battle, pitting you against your competitors to find a market equilibrium, not a race to the bottom
Repricing isn’t a new concept to marketplace sellers. Many sellers use automatic pricing tools, particularly on Amazon, to make sure that they are charging a competitive price and winning a share of the Buy Box.
But this isn’t without its drawbacks. Existing repricers, whether they are rules-based or algorithmic, are known for driving prices downwards. Why? Because they tend to treat repricing too simply, seeing it as an arms race, so instead of one seller with the best price “winning”, all prices are driven down and everybody loses.
Seller snap is a new tool on the market, that takes the innovative approach of applying mathematical game theory to the problem of Amazon marketplace repricing. This provides a way to treat pricing as a strategic game between players, with the goal of finding a balance or equilibrium, instead of a battle to the death with only one winner.
From algorithm updates to site outages and random testing, there are many ways that the mechanics of eBay can cause your sales to fall.
There is one question that sellers ask more than any other: “why are my eBay sales down?”
One month your orders are flying in and then, all of a sudden, sales just fall off a cliff. You didn’t change anything on your listings, and there is no obvious cause like the time of year, changes in fashion, or the release of new products onto the market. This leaves sellers stumped, unsure how to react, and left hoping that their sales will pick up as quickly and inexplicably as they dropped.
So why does it happen? Very often sellers, at a loss for any other explanation, blame eBay, concluding that the marketplace simply doesn’t like them anymore. While eBay may not be deliberately sabotaging your sales, the notion that your sales are suffering because of their actions, or changes that they have made, could well be true.
In this post, we are going to explore ten ways that eBay could be working against you, causing your sales to drop. These reasons are based on logic and observations about how eBay’s algorithms appears to work, but it’s important to remember that the only people who know exactly how these algorithms operate are eBay themselves.
Let’s take a look at why your eBay sales are down.
Review manipulation never really went away, listing blocks can be hard or soft, and Amazon is getting to be BFFs with brands. Whatever next?
This post is by Chris McCabe, a former Amazonian and founder of ecommerceChris.com. ecommerceChris shows Amazon sellers how to keep their accounts healthy, or, if the worst should happen, how to get their account back from a suspension.
The ban on incentivized reviews is over a year old, but the old adage on prohibition has held true: the practice hasn’t disappeared, it has just gone underground.
Amazon’s relationship with big brands has long been rocky, due to aggressive pricing and rampant fakes. But the times they are a changin’ as Amazon strikes a friendly deal with Nike. Who will be next?
HQ2 continues to make headlines, but while officials desperately bid for Amazon’s attention, are they leaving local small businesses out in the cold?
Meanwhile, “soft” listing blocks are common but not well understood. Do sellers ever need to do more than just edit and relist?