Firing The Man

Profitabilty, Cash Flow Management, and Budgeting for an eCommerce Business with Tyler Jefcoat from Seller Accountant

Nov 22, 2022

47:46

Tyler Jefcoat is the Founder & CEO of Seller Accountant where he exercises his passion for helping sellers maximize their businesses. Tyler provides financial coaching for sellers totaling more than $100 million per year in e-commerce sales. Tyler also leads the Sellers Roundtable, an exclusive mastermind group for seven- and eight-figure sellers

In this episode, Tyler provides financial coaching and a few powerful tips that will surely help maximize your business. Let’s get started.

[00:01 - 02:56] Opening Segment

Tyler's path to becoming a founding seller accountant
He loves the idea of coaching CEOs and helping small entrepreneurs and seeing them excel

[02:57 - 06:34] What Are Some Trends Observed From Successful Sellers in 2022

Companies that have great products and who are connected to their customers
Brands that are offering what the customer needs and wants
Those who set aside a bit of money for education expenses thrive when the market is vulnerable

[06:35 - 18:44] Increasing Gross Profit despite Increased FBA Fees

Have a coordinated strategy such as focusing on your most profitable products
Check your p&l and just keep an eye on a seller account
Pay attention to ads and what fuels the product to move
Set a specific margin on your product that you can afford

[18:45 -27:39 ] Managing Your Advertising Budget

Have more margin on the product
Understand your cash cycle
Find the one that intersects at the highest optimal point of these two factors: margin and cash flexibility
Want some Amazon refunds? Check out GETIDA
- Promo code: FTM400

[27:40 - 44:30] Helpful Resources and Tips to Sellers

Fathom - a dashboarding tool
Take a little bit of extra line of credit to have liquidity than run out of cash
Have a good relationship with your customers by understanding what they need and offering a product that solves their needs
Invest in a secondary sales channel and show up prepared

[44:33 - 45:45] Closing Segment

Check Tyler’sbook keeping business and podcast

Quotes:

“ You can't understand your margins without understanding ads that fuel you have to put on the fire to get the product to move is so crucial that you, that's what I would pay attention to if I were seller..” - Tyler Jefcoat

“ The most successful entrepreneurs in any industry have a growth mindset. They're gritty. And they demonstrate that grit and a Growth Mindset by joining some kind of peer group or coaching group.”- Tyler Jefcoat

Connect with Tyler Jefcoat

Website: https://www.selleraccountant.com/team/tyler-jefcoat/

Podcast: https://www.selleraccountant.com/podcast/

LinkedIn: https://www.linkedin.com/company/seller-accountant/

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