Firing The Man

Episode 79We continue our discussion about pay-per-click (PPC) and profitability. This time, we discuss further the different ways to control your Total Advertising Cost of Sale (TACoS), as well as some practical tips to boost your sales, conversion rate, and ecommerce store traffic, among other important topics.By the way, do you know that Amazon owes you money? We break down how you’ll get paid. David also shares why you should charge your PPC spent on a credit card. Let’s continue our discussion on the intersection of PPC and profitability! [00:01 - 04:44] Opening SegmentWhat is a good goal for TACoS?Control your TACoS with these levers Organic salesPPC efficiency [04:45 - 12:27] How to Boost Your Sales EfficientlyBoosting your salesKen’s favorite strategy that not a lot of people focus on Drive organic traffic to Amazon The ideal conversion rate according to KenHow to compute it the right way How conversion rates impact organic rates and PPC sales Increase your conversion rate with these tips from Ken[12:28 - 19:48] Boosting Your Organic Traffic What you should realize about test pricing How to choose the right keyword to test FREE download on TACoS & ProfitabilityLink belowHere’s an easy way to increase your average order value [19:49 - 27:01] David’s PPC Experience The percent ACos that can generate a profit Want some Amazon refunds? Check out GetidaPromo code: FTM400David talks about the challenges of Amazon inventory restrictions Should you outsource PPC?David shares his experience  [27:02 - 34:27] The Myth to be Busted About Top-Line RevenueWhy you should focus on the profitability of your business Do not focus on the top-line revenue and here’s why How this simple “change of payment method” can get you 3% off[34:28 - 36:57] Closing Segment The top 3 items David and I recommend to youConnect with us. Links belowFinal words Tweetable Quotes:“Your business is an asset and it should be managed as an asset.” - Ken Wilson“We’ve got a lot of products that are selling well but due to current inventory restrictions, we cannot replenish that inventory. And so, we're slowing down PPC spent, [slowing] down sales, yes, but it’s just gonna make inventory management easier.” - David SchomerResources mentioned:Firing the Man previous episode: 76: Intersection of PPC & Profitability (PART 1)Firing the Man previous episode: 8: How to Get One Million Free Amazon AdsHelium10------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! Know more about TACoS and Profitability! Start here. FacebookYouTubeReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 78In today’s episode, David and I will talk about pay-per-click (PPC) and profitability and how we can reconcile them in our businesses. We have also included a real-life case study from one of our portfolio companies, as well as a discussion of Advertising Cost of Sale (ACoS) and Total Advertising Cost of Sale (TACoS). Listen to this episode and learn how PPC and profitability intersect! [00:01 - 02:43] Opening SegmentWe introduce our topic for todayHow to reconcile PPC and profitability [02:44 - 12:59] ACoS and TACoS Don’t miss our break down of ACoS and TACoSWhy you should know your breakeven point FREE download on TACoS & ProfitabilityLink belowWant some Amazon refunds? Check out GetidaPromo code: FTM400How to analyze shipping cost properly Go over your income statement the right way [13:00 - 20:19] Our Case Study We talk about the 3 phase of one of our portfolio companiesLaunchStruggleDial in What you should realize about this case study according to Ken[20:20 - 21:30] Closing Segment Connect with us. Links belowFinal words Tweetable Quotes:“Knowing your numbers is probably one of the top things you should be an expert at if you’re in this business.” - Ken Wilson“Knowing your true breakeven point and then setting ACoS goals and monitoring and measuring them on a daily or weekly basis is really important.” - David Schomer------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! Know more about TACoS and Profitability! Start here. FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 77 Joe Valley fired the man 24 years ago and never looked back ever since. He wrote “The EXITpreneur's Playbook” to guide entrepreneurs in exiting their businesses the right way, specifically sharing tactical steps and mindset shifts that they need to get the most out of their exit. Joe can also be heard regularly in the podcast, “The Quiet Light.”Tune in now and learn from Joe how to train for your exit strategy! [00:01 - 05:03] Opening SegmentWe share our key takeaways from our interview with Joe ValleyFREE chapters from Joe’s bookLink below [05:04 - 13:10] Joe The EXITpreneur Let’s get to know, Joe, and how he fired the manTraining for an exit vs. planning for an exitThe biggest problem of entrepreneurs right now[13:11 - 20:00] Should You Have a Broker in Selling Your Business? Establishing an exit goal the right way The role of the broker in a transaction Want some Amazon refunds? Check out GetidaPromo code: FTM400[20:01 - 27:30] Earning Money All Day LongBuilding a relationship with aggregators The main quality of a good advisor Joe gives a sneak peek about his book[27:31 - 37:03] Managing Expectations Among Entrepreneurs Joe breaks down the Seller’s Discretionary Earnings What can entrepreneurs expect in today’s e-commerce space? He shares his experience dealing with the COVID-19 pandemic [37:04 - 43:23] The Mindset to Work for Your Goals “EXITpreneur” is not your ordinary bookJoe talks about the Ignorance DiscountKnow more about Joe in the Fire Round! [43:24 - 45:31] Closing Segment Connect with Joe. Links belowFinal words Tweetable Quotes:“Good advisors earn their money all day long. Otherwise, they wouldn’t be in the business.” - Joe Valley“[Good advisors] put more money in your pocket with a better deal structure so you could sleep at night.” - Joe Valley Resources Mentioned:ThrasioPerchBook: TractionEmail joe@quietlightbrokerage.com to connect with Joe or follow him on LinkedIn, Facebook, and Twitter. Listen to his podcast or check it out online: website, Facebook and Twitter.3 FREE chapters of Joe's book! Download herePurchase his new book------------------------------------------------------------------------------------------Liked what you’ve heard? Send us a voice message and share your thoughts!  FacebookYouTubeInstagram EReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 76Many e-commerce business owners are having a hard time overcoming the current Amazon inventory restrictions. That’s why in this episode David and I will be talking about the strategies we’re implementing. But that's not really it. We also want you, the Firing the Man Nation, to share your own solutions. Let’s stay the course and fight through these tough times together. Listen to this episode and learn how to overcome Amazon inventory restrictions![00:01 - 05:07] Opening SegmentWe introduce our topic for todayHow the Amazon restrictions have affected our accounts [05:08 - 13:30] Our Thoughts on Inventory Restrictions The rule that applies to everything but David wishes would go away soon We think that these restrictions should be temporaryKen guarantees it Don’t miss our exchange about Inventory Performance Indicators [13:31 - 23:21] Solutions to Amazon Inventory Restrictions Solutions to these Amazon inventory restrictionsChecking inventory daily Send shipments daily if possible Run reports and find slow-moving products Consider increasing prices and here’s why Ken shares what he thinks as the top solution here Want some Amazon refunds? Check out GetidaPromo code: FTM400[23:22 - 30:59] Why You Should Stay The Course Why you should try the Amazon FBM and warehousing Do you have an idea we did not mention?Send us a voice mail below! Why you should not give up now [31:00 - 33:34] Closing Segment Connect with us. Links belowFinal words Tweetable Quotes:“If you’re out there and you’re struggling to manage inventory, you’re not alone.” - Ken Wilson“Stay the course. Fight through these tough times.” - David SchomerResource mentionedWalmartDeliverrShipup------------------------------------------------------------------------------------------If you have a strategy that you are using to overcome this hurdle, hit us up at https://firingtheman.com/contact-us/. If you share an idea or pro-tip with the Firing the Man Nation that was not mentioned in this podcast that will help Ken and I navigate this more effectively, we will personally buy you a steak dinner.FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Check out https://forceget.com/ to use promo code FTM 300 and tell them that FiringTheMan sent you.Episode 75Ken and I are happy to talk with Burak Yolga for the second time, where we talk about logistics, inventory, and supply for e-commerce businesses. Our interview with Burak is timely as shipping is so expensive right now. How then can e-commerce business owners ship to the US in the most efficient way possible? What can they learn from smart Amazon sellers? All these...and more in another episode of Firing the Man. Tune in now and learn from a logistics expert! [00:01 - 05:14] Opening SegmentLet’s get to know Burak YolgaBurak gives a “State of Freight”[05:15 - 15:37] Shipping is Currently Expensive and Here’s Why Why is shipping so expensive right now?What you can learn from smart Amazon sellers An advantage you’ll have if you ship in the US [15:38 - 30:44] Shipping to the US Efficiently Negotiate with your suppliers better with these tips from BurakWant some Amazon refunds? Check out GetidaPromo code: FTM400The most efficient way to ship to the US according to Burak [30:45 - 35:04] New Markets to Explore Best ways to ship from China to Europe Is the Middle East a good market right now? Know more about Burak in the Fire Round! [35:05 - 41:40] Closing Segment Connect with Burak. Links belowFinal words Tweetable Quotes:“Just make sure you’re planning [everything on time].” - Burak Yolga“The more you repeat, the better it gets.” - Burak Yolga“Never be shy about asking, especially if you’re a beginner.” - Burak YolgaResources Mentioned:Burak’s first time with Firing the Man: Episode 16: Coronavirus Implications on e-commerce with Burak YolgaBook: Millionaire Success HabitsEmail burakyolga@forcemac.com or sales@forceget.com to connect with Burak or follow him on LinkedIn. Visit Forceget and experience a fast, cost-efficient, and reliable logistics service!------------------------------------------------------------------------------------------Liked what you’ve heard? Send us a voice message and share your thoughts! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

We have the one and only Chris Odegard to talk about alternative investment vehicles you can try over the traditional ones such as the 401(k). Our discussion mostly focused on 401(k) and why he will advise people to NOT put money into it. Instead, he will advise them to invest in real estate, which if done right, can lead to financial freedom and prosperity. Tune in now and learn alternative investment secrets from The Prolific Investor! [00:01 - 04:22] Opening SegmentLet’s get to know  Chris OdegardHe talks about alternative investments [04:23 - 14:42] Alternative Investment VehiclesHow Chris bought his first rental property Don’t miss this advice from Chris about 401(k)! Listen to our interesting exchange about taxes The 2 tax systems[14:43 - 25:09] How Chris Fired the Man The power of negotiation in the real estate space Want some Amazon refunds? Check out GetidaPromo code: FTM400How Chris fired the man Listen to his story The Hierarchy of Investments [25:10 - 35:04] Rentals > 401kShould you drop your 401(k) and buy rentals instead? If you’re already putting money into 401(k), here’s Chris’ advice for youHow to start an alternative investment[35:05 - 39:25] Closing Segment Know more about Chris in the Fire Round! Connect with Chris. Links belowFinal words Tweetable Quotes:“I think you have to have a goal that’s bigger than money because when the money doesn’t come fast enough or gets too hard, people will give up and quit.” - Chris Odegard“...if I was your age, with this brain, I would have never put any money into that 401k. I would have started acquiring single family rentals.” - Chris OdegardResources Mentioned:BookRich Dad Poor DadTax-Free Wealth401 ChaosEmail chris@jcesolutions.net to connect with Chris or follow him on Instagram, YouTube, Twitter, and Facebook. Check out The Prolific Investor to learn more about his services. Download the Hierarchy of Investments! Find it herePre-order his upcoming book: Get Off Your A$$ and Manage Your MoneyJoin his coaching program ------------------------------------------------------------------------------------------Liked what you’ve heard? Send us a voice message and share your thoughts! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US AReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 73Ben Leonard built a 7-figure business from his laptop...only to sell it after 3 years. You may be surprised and curious as to why Ben did it, but for him, it was the right thing to do. What were his reasons for this surprising decision? He drops by to tell us why. Ben is the epitome of “Firing the Man,” and if you are someone who’s just starting an eCommerce business, you still would want to check this episode out. Tune in now and learn the right exit strategy for you in the e-commerce space! [00:01 - 04:48] Opening SegmentLet’s get to know Ben Leonard His path from ecology to e-commerceWhat is “learning by doing” for Ben?[04:49 - 13:52] The Truth Behind Starting an E-Commerce Brand Ben walks us through the process of building his businessThis was the time he also had a full-time jobDon’t miss this advice from Ben to start your own business! Ben’s regrets in his e-commerce business [13:53 - 19:22] Selling at Peak Romance The day Ben went full-time in his e-commerce business Selling the business at its peakShould you do it?Want some Amazon refunds? Check out GetidaPromo code: FTM400[19:23 - 30:00] Crafting an Exit StrategyBen talks about the process of selling his businessWhat is the “Entrepreneur’s Relief?”How Ben can help you in your business[30:01 - 39:22] What Your Business is Worth The right mindset to sell your business How to know the value of your businessKnow more about Ben in the Fire Round! [39:23 - 40:53] Closing Segment Connect with Ben. Links belowFinal words Tweetable Quotes:“Sometimes, you just need one point of reference, and if it’s somebody who’s been there and done it, then that helps quite a lot.” - Ben Leonard“If you risk nothing, you risk everything.” - Ben LeonardResources Mentioned:ThrasioBookThe E-Myth RevisitedHarry PotterEmail ben@benleonard.pro to connect with Ben or follow him on LinkedIn, YouTube, Twitter, and Facebook. Check out his personal website and visit Ecom Brokers to learn more about his services. ------------------------------------------------------------------------------------------Liked what you’ve heard? Send us a voice message and share your thoughts! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 72Have you heard about dropshipping? This business model looks attractive as a passive income stream because you don’t need an inventory to start selling products. You only need a platform to accept orders and forward them to the manufacturers. Ken tried it, alongside sponsoring a semi-pro Poker player, and failed. The silver lining of these failures, though, is that it brought Ken and I together. No one knows if we’ll be here sharing our e-commerce experiences had Ken not encountered the dropshipping model. Listen to this episode and learn from Ken’s experience as a dropshipping owner! [00:01 - 03:44] Opening SegmentWe introduce our topic for todayWhat is dropshipping? [03:45 - 13:00] Starting a Business Online How to start a business online Platforms and tools that usedWhy Ken spent 20 hours in YouTube research The Power of Facebook Ads [13:01 - 24:24] Sponsoring a Semi-Pro Poker Player Want some Amazon refunds? Check out GetidaPromo code: FTM400How Ken realized that his dropshipping business failed Ken’s reasons for sponsoring a semi-pro Poker playerLessons learned from this experience [24:25 - 27:04] Closing Segment Start a business or buy an existing one?Ken weighs in Connect with us. Links belowFinal words Tweetable Quotes:“Do something whether you think that your business idea is good or not.” - Ken Wilson“Even though I only made 3 sales...it was like a spark that ignited something in me.” - Ken WilsonResources Mentioned:Shopify OberloMcAfee------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 71Are you planning to sell at Walmart? Then, don’t miss this episode. Ken will share his experiences so far in selling in Walmart. We will talk about the things we like about it, including how easy the integration is and how the sales are going. We will also discuss more topics to make your Walmart experience worthwhile, including how to get top-quality reviews for your products. Listen to this episode and start your Walmart journey! [00:01 - 03:21] Opening SegmentWe introduce our topic for todayWhy we are on Walmart [03:22 - 09:07] Start Your Walmart Journey Ken walks us through his Day 1What to expect in the application processHow to set up your listingsThe 3 different ways to set upExplore the Listing Quality Dashboard [09:08 - 16:49] Sell in Walmart How to sell using WalmartKen shares his current experience with Walmart Learn the bright side of his experience Don’t miss Ken’s review of Walmart’s customer service! Want some Amazon refunds? Check out GetidaPromo code: FTM400What you should know about the Walmart Fulfillment ServicesHow is it different from Amazon's FBA? [16:50 - 26:14] Ken’s Walmart Pro TipsHow to leverage third-party logistics in Walmart Ken talks about his experience in delivering productsWhy his grade, for now, is BGet top quality reviews for your productsDon’t miss Ken’s pro tips to get into Walmart! [26:15 - 27:35] Closing Segment Connect with us. Links belowFinal words Tweetable Quotes:“Walmart has this thing called Pro Seller Badge, and if you meet this criteria, they automatically grant you this badge.” - Ken Wilson“For us to actually sell on Walmart now with [Walmart Fulfillment Services] not an option, we had to choose a [third-party logistics].” - Ken WilsonResources Mentioned:Firing the Man’s previous episode: Off-Amazon Sales Channel News & Other Happenings in 2021Walmart’s Market ApplicationWalmart Fulfillment ServicesPro Seller BadgePaypalDeliverrFedExUnited States Postal ServiceUnited Parcel Service------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Episode 70In today’s episode, David will share his failed business experience and the lessons he learned from it. He realized later on, which you should realize as early as now, that just because you can do something doesn’t mean you should do it. You should consider this thought especially if you also want to fire the man. David is willing to try this business again, though, but this time, he’ll do some things differently. Listen to this episode and learn from this failed e-commerce business! [00:01 - 01:52] Opening SegmentWe introduce our topic for todayKey lessons in a failed business venture [01:53 - 10:19] Woodworking Business How did David start his woodworking business Don’t miss this pro tip from DavidThe biggest investment in David’s woodworking businessWhy was this business model not enough to fire the man?Great hobby but not a great career [10:20 - 21:07] Lessons from David’s Failed Business “Having fun” and “firing the man:” Can they work together?Points to consider Want some Amazon refunds? Check out GetidaPromo code: FTM400Lessons David learned from his unsuccessful business venture“Just because you can doesn’t mean you should”Proof of concept Understand cash flows The true purpose of a hobbyWhat David will do differently this time[21:08 - 23:54] Closing Segment Will David try this business again? Connect with us. Links belowFinal words Tweetable Quotes:“If your goal is to fire the man, get a good understanding of how much annual cash flow you’re gonna need or even monthly cash flow or weekly cash flow.” - David Schomer“When you learn a tough lesson firsthand, it sticks.” - David Schomer“I think when you get emotions into business, it’s to the detriment of yourself, your time.” - Ken WilsonResources Mentioned:SawStop------------------------------------------------------------------------------------------Do you have a similar experience? Send us a voice message and let’s see how we can help you! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show