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Built by Business: Amazon FBA, E-Commerce, Brand Building

#55 - How to Get Costs Down

Built by Business: Amazon FBA, E-Commerce, Brand Building

Andy Isom | Amazon FBA Seller & Agency Founder

Business, Entrepreneurship, Marketing

4.9816 Ratings

🗓️ 31 May 2021

⏱️ 19 minutes

🧾️ Download transcript

Summary

Having a good profit margin is very important when selling on Amazon. The two ways to increase your profit margin are to raise your price or lower your costs. In this episode, we'll discuss some options for lowering your costs within your business so you can work towards a sustainable profit margin.

 

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Transcript

Click on a timestamp to play from that location

0:00.0

Profit margin is just a percentage, right?

0:03.0

It's just a number.

0:04.0

It's a number floating out there that you calculated.

0:06.0

It has no value.

0:08.0

Profit margin of 40% is just a number.

0:12.0

But net profit is ultimately money in the bank.

0:16.0

Net profit, meaning actual cash money in your bank account account of $40,000, that is money. That's what

0:25.8

pays the bills.

0:32.8

What's up, guys? You're listening to Selling on Amazon with Andy Isam. In this episode,

0:38.3

we're going to talk about how to get costs down. This comes from lesson 34 of my guide,

0:43.7

zero to $200,000 in sales in our first year selling on Amazon, 67 lessons learned. So of the 67

0:48.7

lessons in my guide, this is lesson 34. A lot of you already have the e-book. I appreciate you guys

0:53.4

supporting me by buying the

0:54.6

ebook. That supports me and my family. That's what I do. You know, I run my Amazon business. I help

0:59.8

do my coaching. I do this stuff for you guys. That is my life, right? Like, that's how I make money.

1:05.9

So I appreciate you guys for doing it for purchasing that and supporting me and my family. This is going to be a shorter episode, I think.

1:11.6

This one shouldn't be super long.

1:13.0

This is be a quick one for you guys.

1:14.4

But it's about getting costs down.

1:17.0

We're going to talk about some things because we've learned this from our own experience

1:20.5

in running an Amazon business that profit margins will creep.

1:24.0

Profit margins will change over time.

...

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