Lessons Learned In Business

Have a Philippines VA? It’s Time To Pay The 13th Month.

13th month

If you have Virtual Assistants (VA’s) from the Philippines, it’s time to pay back to your contractors.

It is customary for employees in the Philippines to receive something called the 13th Month. Basically, it’s a Christmas bonus equal to a full months pay. You can read some FAQ’s about it here.  The Philippine government stresses that it is mandatory for all private businesses in the Philippines to make the extra month payment in December for all “rank and file” employees. Just like we have labor laws in the United States, this is one of their labor laws.

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Increase Your Q4 Margins – The Retail Arbitrage Discount Conductor

Retail Arbitrage Discount Conductor (3)

You walk into a local Walmart and look around.  There’s a lot of product – everywhere!  You want to make some money by reselling items on Amazon, but you have absolutely no idea where to start.  You also have no idea how to achieve the highest margins by buying items at a fraction of retail pricing.  You are incredibly jealous of those people that always seem to “get it”.  They can find profit everywhere.  Sound familiar?  If so, keep reading as I reveal some of the secrets sellers use to win at retail arbitrage.

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Stay Away From Gift Card Rescue – The Story of How I (Almost) Lost $1,300 by Using Gift Card Rescue

MONEY DOWN THE DRAIN

I planned on publishing part two of the “How I Cut My Sourcing Costs Up to 50%” series this week, but something else is really grinding my gears.  I usually try to do a nice, cool story, or something to hook readers. Well, this one is a not so cool story of why I feel I’ve been scammed out of $1,300 from Gift Card Rescue.

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How I Cut My Sourcing Costs Up To 50%

How I Cut Sourcing Costs Up To 50%

The age old rule of thumb is “Buy Low, Sell High”.  In order for that to work properly, you need to come up with a fool proof way of always buying low.  Depending on how you source items, there are many ways to do this.  Over the next five posts, I’m going to share the ways I knock down my sourcing costs by up to 50%.  I can guarantee using just one of the methods I will be sharing in this series will increase your margin so high your eyeballs will pop. Read More

The Tools and Supplies I Recommend for Fulfillment by Amazon (FBA)

Amazon FBA Tools and Supplies

When starting out selling on Amazon, there are many tools and supplies you’ll need.  There is so much out there, how do you know what you REALLY need?  Since I’ve been sending things to Fulfilled by Amazon (FBA) since 2009, I have found certain things are must haves for sending shipments to Amazon.  There are also some tools and supplies that will make shipping amazon packages immensely simpler.  When starting out, a lot of people really want to take the profits out right away.  If you are serious about your Amazon business, investing in tools to increase your productivity should be very high on your list of priorities.

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Where Did It Go Wrong?

Warehouse-is-Closing

As I sit back and watch workers tearing down warehouse shelving that was bought only a year ago, I think to myself “where did it go wrong?”

Only a year ago, we were a prospering company coming off the heels of a $3.5 million sales fiscal year with a ranking in the INC 5000 list as the 722nd fastest growing company in the U.S.  Employees were busily working putting together that same shelving in a nice fresh 25,000 square foot warehouse.  On Friday mornings, employees would walk into work with the fresh smell of pancakes.  It was Flapjack Friday of course – and it allowed me to get to know my employees better as I slaved over the griddle.  There were plans to build our company into a driving force on Amazon, eBay, Rakuten, and on Google.  Life was good.

“Where did it go wrong?”

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