Dave is back for a solo podcast episode to discuss the things you can do when your Amazon business is in trouble. He opens up about the challenges that he's personally facing with 2 e-commerce brands, and what he did to bring up profitability despite revenue going down 10%-50%.
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2024 was one of the hardest years of selling on Amazon. Between Google SEO updates and Amazon's fee increases, a lot of sellers have been pushed to their breaking point.
While things may seem bleak, the good will almost always come back around.
But how do you stay afloat while things are in the gutter?
In this episode, Dave talks about the few ways you can save your business that don't include selling your business at a loss.
Takeaways
- Many e-commerce businesses are facing financial difficulties, not just you.
- Laying off employees can be a necessary but difficult decision to keep your business afloat.
- Solopreneurs can also consider reducing their salaries during tough times.
- Cutting advertising costs can help improve financial health.
- Managing inventory effectively is crucial for cash flow.
- Shopping around for 3PL providers can lead to significant cost savings.
- Reviewing SaaS subscriptions can uncover unnecessary expenses.
Chapters
- 00:00 - Facing Financial Difficulties in E-commerce
- 03:11 - Navigating Declines in Revenue and Traffic
- 06:02 - Making Tough Decisions: Layoffs and Cost-Cutting
- 08:55 - Strategies for Solopreneurs in Financial Trouble
- 11:46 - Trimming the Fat: Advertising and Inventory Management
- 15:04 - Optimizing Cash Flow and Reducing Overhead Costs
- 17:56 - Reevaluating Business Strategies for Recovery
- 20:54 - Embracing Change and Moving Forward
As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.
Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.
Thanks for listening!
Until next time, happy selling!
