Category Archives: Financial Management

Articles on business profitability, pricing, accounting, bookkeeping and financing options.

Make Your Amazon Business More Profitable With Benchmarking

Improve your financial education with these six steps to make your business leaner, faster, more competitive and more profitable

Dials comparing company and competitors

This post is by Jae Jun, a seven-figure Amazon seller and founder of Gorilla ROI, software that connects Seller Central data to Google Sheets.

In this article, I’ll take you through the steps to analyze your profit margins and find benchmarks to make sure your business is running at optimal levels.

Using the methods I outline below, I was able to take our business from a low 30% gross profit range to 35-45% margins for many of our products.

This helped us break out from a sales plateau of $250k in revenue to over $2M in a few short years. Our sales continue to grow quickly today.

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Understand the Numbers Behind Your Ecommerce Business With Zynergy Books

Outsource bookkeeping, improve your financial management skills, and increase your profits, with ecommerce specialist Zynergy Books.

Zynergy Books Mike Cortes in office

Bookkeeping is a necessary evil for online retailers. Some sellers see hundreds of transactions a day, making it difficult to keep track of money going in and out. On top of that, cashflow issues can go unnoticed and threaten the survival of any business, even those that are very profitable.

The obvious solution is to hire a professional bookkeeper to balance the numbers and keep your books correct and up-to-date. But there’s only so much a bookkeeper can do. You’ll typically have contact with your bookkeeper once a month, when you send over your latest figures, then they’ll then go away and work their magic alone. Rinse and repeat every month.

Zynergy Books does things differently. They provide bookkeeping services to ecommerce businesses, so sellers can offload that work and spend their time more productively. But then Zynergy uses their experience in both ecommerce and finance to provide personalized coaching, helping retailers cut costs, improve cashflow and boost profits.

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Payability Takes Off With Instant Advance and Multiple Marketplace Support

From faster payouts for Amazon sellers, to upfront growth capital and support for 15+ marketplaces, Payability is moving really fast this year.

If you ask any online seller about their goals, you’ll hear two things almost every time: they want to grow their sales and they want to sell on more marketplaces. The first goal is essential, more sales means more profit, and a more successful business. The second goal, selling through multiple channels, makes the business a lot less risky.

These goals may sound simple, but they aren’t easy to achieve. To grow, ecommerce businesses need cash. You can only sell more if you have the funds to buy stock in larger quantities and quickly take advantage of new growth opportunities. Likewise, diversifying across multiple marketplaces takes a lot of effort to set up on each platform, to build sales and to manage everything day-to-day.

It’s been a year since we last talked about Payability, and its innovative service to help Amazon sellers get their payouts daily, now known as Instant Access. Things have moved really quickly since then.

Payability has a new service called Instant Advance, which provides ecommerce sellers with a big cash injection quickly to help grow sales. It has also expanded beyond Amazon, and now supports 15 marketplaces and shopping carts in total. Clearly this is a business moving as fast as the online sellers it supports.

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FBA Fee Refunds: How to Get Reimbursed for Amazon’s Mistakes

You shouldn’t be paying for Amazon’s mistakes. Here’s how to check if you are paying more than you need to, and recover what you’re owed.

For Amazon sellers, FBA is hugely important. It lets you store your inventory in Amazon’s fulfillment centers while Amazon take care of shipping your orders and providing customer service. This streamlines your operation, making your business more streamlined and efficient. It also makes your products eligible for Prime, helping you grow sales.

Amazon are known for their industry-leading processes and sophisticated technology, so you are in good hands with FBA. But even Amazon make mistakes. With more than 2 billion marketplace items shipped through FBA per year, even a tiny percentage of errors really adds up. Those could be overcharging of FBA fees, lost inventory, incorrect customer refunds and more.

Amazon pick up some of those mistakes themselves, but others slip through the cracks. You could be owed money for issues that you know nothing about.

So how do you go about finding them and getting a refund? There are a number of methods, and we will cover them all here, including third-party services that automate the whole process for you.

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SellersFunding: The Algorithmic Loans Provider for Amazon Sellers

SellersFunding can make a preliminary loan offer, based just on your Amazon seller name. Here’s how their technology makes it possible.

If you’ve ever taken out a business loan from a bank, then you’ll know that the process is complex, and takes a long time to complete. There’s credit history checks, business plans to draw up, and even after all that effort, online sellers are often declined because the banks don’t understand their business model.

But now there is another way, thanks to the cutting-edge technology used by online lender SellersFunding. They understand online sellers, and offer features such as up to a 90-day grace period, which allows sellers to source, receive and start selling their products, before having to make repayments.

Better still, their algorithm can pre-approve your loan application in minutes, based on just your Amazon seller name. How is that possible?

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