How to Simplify Finances for Busy Entrepreneurs with Nachman Lieser
Release Date: 09/08/2022
How to Scale and Sell an 8-Figure Amazon FBA Business with Michal Specian
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Are you sure how to streamline and systemize your Amazon FBA businesses to earn more and work less? In this episode, Michal Specian joins us to discuss his journey from launching his Amazon business, growing it to an eight-figure business with only a small team, and successfully selling the business. He shares his strategies for product development, product launches, optimizing listings, building teams, and systemizing businesses for successful exits. Michal offers practical tips on how to stand out from other sellers and breaks down the process of selling the business - from finding potential...
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A Proven System for Hiring & Scaling with Nathan Hirsch
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Improving the Overall Operations of Amazon FBA Sellers with Eytan Wiener
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Online Marketing Solutions for Brands with Norman "The Beard Guy" Farrar
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Is there a way to gain more impressions and increase conversions on Amazon using posts? In this episode, Norman Farrar touches on the importance of building a brand and how you can develop a perceived value for your products. He digs into product development, how to optimize your listing, and how to utilize all the different tools Amazon provides in order to build a stronger brand. Norman breaks down the story behind the 'Beard Guy' name and how he helps other entrepreneurs become influencers on Amazon by infusing personality into a brand. Tune in now to hear this inspiring story and helpful...
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Tips to Master Amazon's Ecosystem with Former Amazon Executive, Stan Friedlander
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Curious about how to best do business with Amazon and what to do if something goes wrong? In this episode, Stan Friedlander digs deep into the culture inside Amazon, how Amazon is growing its own categories, and how Amazon really looks at large private-label sellers. He also discloses the acquisition between Zappos and Amazon and how that really reflected in the internal culture. Stan points out why Amazon is still the dominant player in e-commerce and encourages sellers to diversify their interests by selling on more than one platform. Listen and enjoy! Stan Friedlander was chief merchant/gm...
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Powerful Data Insights to Grow Your Amazon Business with Jon Tilley
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Are you figuring out how to build & grow your business while still having the opportunity to exit when the time is right? In this episode, Neil Twa shares his insights about how the eCommerce space has evolved and how you can still be successful if you follow the right path. He breaks down how he addresses launching new products and why it's a different approach than others. Neil digs into how to prevent yourself from sabotaging your business and make it grow organically. If you are looking to build a successful brand on Amazon, this episode is definitely for you! Mr. Twa is the co-founder...
info_outlineAre you clear about your business profits? In this episode, Nachman Leiser shares how he started his career and how he ended up building his eCommerce bookkeeping and accounting firm. He explains the importance of not only having software that connects your Amazon account but really looking at the data. Nachman remarks on what are the key metrics you have to look at to make sure that you have the proper profit margins. Pay close attention to how he has been able to juggle multiple businesses and grow his new SaaS business. Listen and enjoy!
Nachman Leiser is the CEO and founder of Connectbooks and Bottom Line Management. For over 10 years, he’s been an entrepreneur, financial analyst, and profit game changer - usually all 3 at once. After working as CFO in several businesses, growing their revenue by double-digit percentages and more, he founded his own eCommerce bookkeeping & accounting firm that specializes in uncovering ways to reduce cost, eliminate losses, and scale profits. He helped online sellers in the red become profitable within a year and exceed the million-dollar mark in net profits.
Key Highlights:
[00:01 - 07:15] Benefit from Hiring a Bookkeeping Company
• Nachman shares his background in the eCommerce space
- The CEO and founder of ConnectBooks
- Reconcile every transaction with banks statements
- See itemized and bottom line profit and inventory updates as they happen
• The importance of having software that connects your Amazon account and data-driven strategies to improve profits
[07:16 - 32:42] The Software You Need to Keep Your Amazon Business Running Smoothly
• You should determine your break-even point and calculate your profit margins and overhead costs
• It is important to have realistic expectations and be willing to pivot to keep their business afloat
- Put together financial information
•Why Nachman decided to split the company into different businesses
- When you focus on one industry, it's easier to scale the business
• How Nachman realized there was a need for a good bookkeeping software
[32:43 - 52:12] How to Automate Your Accounting and Selling in QuickBooks
• How to hire the right people for your business
- Make sure they fit the company culture
• Why understanding the inventory value and profits can be difficult
• Connect books offers data visualization that breaks down profitability by skew and variation
- Understanding where products are losing money
- Automating accounting and tracking of product sales
• Before taking any action, it is essential to understand the P&L (profit and loss) of a company
[52:13 - 57:25] Wrapping Up!
• Why Shopify is different than Walmart
- More customization and control over how orders are processed
• Nachman on the four rapid questions
Connect with Nachman:
Key Quotes:
"If you work really hard, nonstop, at some point you'll get there." - Nachman Lieser
"Make sure whatever you're doing, you're doing it a hundred percent completion and then you move onto the next project." - Nachman Lieser
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
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