How we managed to double turnover and profits in one year at Amazon
According to Shopkeer, to date we have invoiced more than 208k (with VAT). In 2023 we have invoiced 100k less in the same period. In terms of product profit, the figures for 2024 translate into 54.5k (with VAT). Being still a long way from Christmas, these figures do not allow us to relax but they are not bad.
It is not normal to double the figures on Amazon from one year to the next. The question then is: How have we achieved it?
Contents [hide]
1 Raise capital to make product purchases
2 Establish the necessary structure to grow
3 Put more focus on the own brand
4 Jira and Confluence
5 Continue with the development of our management tool for Amazon
Raise capital to make product purchases
“Raise” is not really the right word because it is put in the context of finding investors who put capital into the company. What we have done is get bank financing. Our numbers show that we deserve that trust and we are confirming it once again.
Establishing the necessary structure to grow
We have hired a full-time designer and a part-time programmer. In 2022 we have acquired a premises with more than 600m2 that finally allows us to store products (before we were in a 90m2 premises). In terms of structure and consequently costs, we now have everything we need to multiply the figures we have right now by 10.
It is clear that we still have a lot of things to improve. We have to be even more detailed in some aspects. We lack that understanding that bosnia and herzegovina phone number library small things add up, but we are working on that. It is my responsibility to always look at the bad and not settle. It is the way to improvement. We have big plans for 2024 and beyond.
Putting more focus on our own brand
We have now gone on to generate almost 50% of our how to automate linkedIn prospecting in magileads? turnover with products from our own brand. This means that we are less dependent on Lego, Pokémon, etc. The good thing is that we are 100% clear about the next steps we have to take to continue growing with our own catalogue. Honestly, never in the last 8 years with Amazon or even as an entrepreneur have I had things as clear as now.
In 2023 we have invoiced 100k less in the same fans data period. In terms of product profit, the figures for 2024 translate into 54.5k (with VAT). Being still a long way from Christmas, these figures do not allow us to relax but they are not bad.
Jira and Confluence
The processes established thanks to Jira and Confluence have been a very important part of growing in 2023. We perform better and better thanks to the definition of new processes. In fact, this is what we have all highlighted as one of the main milestones achieved in the past year.
“Raise” is not really the right word because it is put in the context of finding investors who put capital into the company. What we have done is get bank financing. Our numbers show that we deserve that trust and we are confirming it once again.
Continue with the development of our management tool for Amazon
We are finally able to detect the stock we have with just a few clicks. It has taken us a while to get to this point also because until now it was not so necessary. We can finally also analyze all the products and make better decisions about when to send and replenish products. We have taken a giant step.
It is clear that we still have a lot of things to improve. We have to be even more detailed in some aspects. We lack that understanding that small things add up, but we are working on that. It is my responsibility to always look at the bad and not settle. It is the way to improvement. We have big plans for 2024 and beyond.
