#395 - Mastering the Art of Supplier Negotiation and Sourcing with Lyden Smithers

What if understanding your financials could make or break your e-commerce success? Join us as we chat with Jeff Lowenstein, a seasoned fractional CFO, and former aggregator M&A specialist, who reveals why knowing your numbers is the cornerstone of profitability in today's competitive market. We explore how Amazon's fees, which can eat up to 65% of sales, make sophisticated financial planning an absolute necessity. Jeff shares his invaluable insights from corporate finance and e-commerce, emphasizing how accurate financials can attract investors and stave off business failure.   We navigate the intricacies of forecasting and due diligence during acquisitions, touching on our team’s philosophy of maintaining a high close rate as a strategic tool. Jeff dives into the necessity of blending quantitative metrics and qualitative insights, such as market trends and unforeseen variables like fluctuating interest rates and emerging platforms like TikTok Shop. We analyze how detailed financial modeling and robust market analysis can power business valuation and growth, underscoring the importance of adaptability in an ever-evolving landscape.   Finally, we explore the significant role of fractional CFO services in e-commerce, highlighting how they differ from traditional accounting. Jeff explains how a fractional CFO can develop comprehensive forecast models, KPI dashboards, and provide critical financial analyses that propel Amazon businesses toward sustainability. We also discuss the fundamental differences between accrual and cash basis accounting, why cash flow management is crucial, and strategies to enhance your financial health. Don't miss out on these key takeaways that could transform your approach to financial management in your Amazon-selling journey! In episode 400 of the AM/PM Podcast, Kevin and Jeff discuss: 00:00 - Importance of Knowing Your Numbers 03:21 - Corporate Finance to Fractional CFO 06:52 - Importance of Financial Management in Scaling 08:58 - Costing Mistakes Impacting Profit Margins 15:34 - Forecasting and Finance in Due Diligence 17:40 - Models and Metrics in Aggregators & Business Acquisition 19:44 - Financial Profile and Aggregator Capital 25:28 - Understanding Fractional CFO Services for E-Commerce 36:47 - Cash Flow and Accrual Accounting Insights 39:09 - Navigating Profit and Inventory Management 46:01 - Focus on Profit and Growth Strategy  49:09 - Navigating Financial Risks in E-Commerce 50:00 - Kevin King's Words Of Wisdom

Ever wondered how to truly safeguard your Amazon business? Join us as we sit down with Joe and Lesley from Riverbend Consulting, whose unique journey from diverse professional roots to becoming the go-to problem-solvers for Amazon sellers will leave you inspired. From Joe's own Amazon account suspension woes to Lesley's rapid resolution skills, learn how their expertise can protect your online business from ASIN suspensions and unauthorized selling alerts.   Navigating Amazon's seller support can feel like a difficult task, but Joe and Lesley are here to share their wisdom. Discover the hidden inefficiencies within Amazon's siloed teams and the secret vocabulary and strategies that can help you get dedicated assistance. Whether it's understanding why the Costa Rica office is a game-changer or how to time your calls for optimal results, this episode offers practical advice to help you deal with Amazon's often frustrating support system.   But that's not all—we'll also uncover the darker side of Amazon selling, from click farms and listing manipulations to inventory issues linked to unsuitable inventory. Joe and Lesley provide crucial tips on protecting yourself from these malicious practices, maintaining account health, and ensuring compliance with Amazon's stringent policies. Plus, get a sneak preview of our next episode. Don't miss this episode packed with expert advice and actionable strategies to help you thrive in the Amazon marketplace. In episode 399 of the AM/PM Podcast, Kevin, Lesley, and Joe discuss: 00:00 - Solving Amazon Seller Issues With Riverbend 07:08 - Effective Customer Service Process 10:37 - Challenges With Amazon Seller Support 16:14 - Amazon Seller Support Knowledge On Seller Central 24:49 - Amazon Seller Dirty Tricks and Issues 27:39 - Unsuitable Inventory Issue  30:41 - Amazon Seller Account Health and Advice 31:58 - Amazon Wholesale Account Manipulation 41:19 - Contact Information and Funny Stories 44:00 - Kevin King’s Words Of Wisdom

How do you transition from corporate life to entrepreneurial success while harnessing the power of marketing and social media? Join us as we chat with Michelle Barnum-Smith, a marketing maven who has mastered ManyChat flows in Amazon e-commerce and now thrives on TikTok. Michelle unravels her fascinating journey, sharing actionable insights on leveraging Instagram automation with ManyChat to skyrocket your engagement and conversion rates. If you're an Amazon seller or a social media enthusiast, Michelle’s strategies to tap into Instagram’s algorithm and boost your visibility are pure gold.   Reflecting on her career, she recounts her 12-year stint in corporate marketing with industry giants like Lenovo, IBM, and Comcast. The leap from corporate stability to entrepreneurship was riddled with challenges and learning curves. From founding a consulting business to embracing chatbot marketing in 2017, Michelle discovered a niche within the Amazon seller community that catapulted her to industry prominence. Through candid anecdotes, we unpack the trials and triumphs of leaving the corporate world to build a brand and gain recognition, leading to speaking engagements and a thriving business.   TikTok has revolutionized social commerce, effortlessly blending entertainment and shopping. We dissect why TikTok’s impulse-buying environment outshines Facebook and Instagram, and how it creates a seamless shopping experience. Delving into the nuances of selling on TikTok, we emphasize the importance of collaborating with creators and optimizing product listings. With lower referral fees and innovative features like TikTok Shop, the platform offers uncharted opportunities for sellers. We explore whether it's time to jump on the TikTok bandwagon or adopt a wait-and-see approach, considering potential regulatory challenges. This episode equips you with strategies and insights to navigate TikTok’s commerce landscape effectively.   Also, join the upcoming workshop where Michelle talks about TikTok Shop. To register, go to www.ttshopsellers.com   In episode 398 of the AM/PM Podcast, Kevin and Michelle discuss: 00:00 - Exploring E-Commerce Marketing Trends 07:10 - Utilizing Instagram for Marketing Automation 08:40 - Corporate Career to Amazon Marketing 10:45 - Corporate Career to Entrepreneurial Mother 17:39 - Exploring Marketing Strategies for Amazon 19:12 - Building Brands Through Marketing Strategies 31:39 - TikTok's Success in Social Commerce 37:22 - Effectiveness of TikTok for Sales 41:16 - The Future of TikTok Commerce 43:07 - Navigating TikTok's Creator and Affiliate Center 48:19 - Leveraging TikTok for Business Success 53:51 - Optimizing Listings and Ads on TikTok 55:14 - Product Shop Ad Strategy for TikTok  1:05:40 - Kevin King’s Words Of Wisdom

Gracey Ryback, the Amazon and TikTok influencer phenomenon with over 1.3 million TikTok followers, joins us for a compelling conversation on the AM/PM Podcast. Gracey shares her inspiring journey from a career in sales to becoming a full-time content creator in the e-commerce space. Her accidental rise to fame, driven by a passion for deals and saving money, offers a fascinating look into the world of influencer marketing and the organic growth of her platform. Listen as Gracey recounts her viral video successes, including a walking pad treadmill video that reached 2 million views, and learn about her innovative methods for discovering genuine Amazon deals.   In this episode, we break down the intricacies of creating engaging TikTok content and the art of viral marketing. Gracey provides valuable insights into the process of finding and promoting deals, emphasizing the importance of transparency in discount claims amidst Amazon's evolving pricing policies. We also explore the evolving aspirations of young people who dream of becoming influencers and the parallels with the unexpected success of third-party sellers on Amazon. Gracey's journey highlights the passion and dedication required to succeed in the influencer industry, and she offers advice on navigating the common pitfalls of trying to model oneself after established personalities.   As our conversation unfolds, Gracey discusses her involvement in the Amazon community, attending events like the Billion Dollar Seller Summit, and the enriching experiences gained from networking with successful entrepreneurs. She reflects on her recognition in the Dream 100 and the challenges of sustaining audience engagement in live streaming. Looking ahead, Gracey shares her thoughts on the future of her career, including potential opportunities like starting her own brand or collaborating with an agency. This episode is a must-listen for anyone interested in the influencer industry, effective content creation strategies, and the ever-evolving landscape of e-commerce on Amazon.   In episode 397 of the AM/PM Podcast, Kevin and Gracey discuss: 07:44 - How To Find Good Deals On Amazon 10:52 - Sourcing Deals Online for Savings 14:45 - Building Audience Engagement Beyond Social Platforms  18:31 - Changing Perceptions of Career Choices 25:59 - Creating Engaging and Efficient TikTok Videos 27:29 - Importance of TikTok Video Hooks 33:21 - Love for Work and Growth 34:35 - Amazon Community Involvement and Future Plans 41:11 - Helium 10 Elite Membership Benefits 42:47 - Influencer Marketing and Live Streaming 44:53 - Building Loyalty Through Consistent Live Streaming 47:53 - Influencer Brand Relationships and Expectations 49:42 - Navigating The TikTok Creator Studio 55:07 - Managing Brand Expectations for Virality 58:00 - Kevin King's Words Of Wisdom

Join us as we unpack the gripping tales and insights featuring the extraordinary Matt Altman. Matt takes us on a thrilling ride through his e-commerce journey, from his early days of retail arbitrage to his current success in the supplements and food sectors. Reminisce with us about the unforgettable BDSS virtual event and a mastermind in Paris where Matt's savvy strategies earned him top awards, and listen in as we relive a legendary night of strategy-swapping by a bonfire, a true testament to the adaptability and knowledge required in the dynamic e-commerce arena.   This episode also shines a light on the intricacies of Amazon selling as we chat about everything from Amazon Seller strategies to the nitty-gritty of data and semantic SEO and learn how third-party tools complement Amazon's own data to sharpen sales strategies. We even touch upon the exciting advancements in image recognition AI and what it could mean for future search and ranking on platforms like Amazon.   Finally, we examine the burgeoning relationship between Amazon and TikTok Shop, as the social media giant increasingly influences e-commerce trends and search behaviors. Hear about the tactics that are proving effective on TikTok Shop, and ponder the potential of TikTok Shop as it begins to rival Amazon's early dominance. We wrap up with a look at strategies for reducing e-commerce fees and a teaser for our next episode, where we’ll have an expert guest talking about TikTok Shop, the Amazon Influencer Program, and influencer marketing. It's an episode packed with actionable advice and forward-looking insights – you won't want to miss a beat!   In episode 396 of the AM/PM Podcast, Kevin and Matt discuss: 00:00 - E-Commerce Success Story 07:39 - Market Analysis and Reselling Strategies 10:26 - Amazon Seller Strategies and Masterminds 12:06 - Finding Secret Strategies From Chinese Sellers on Amazon 18:14 - Evolving Data Tools in Software and Amazon 20:26 - Amazon Data and Semantic SEO 26:48 - Semantic SEO Keyword Analysis Process 30:58 - Optimizing Keywords for Search Engine Ranking 33:19 - The Future of Image Recognition AI 35:29 - AI in Medical Marketing With Keywords 38:41 - The Future of Amazon and TikTok Shop 39:01 - TikTok's Influence on Amazon Searches 46:14 - TikTok Subsidizes Shipping Costs for Businesses 47:58 - E-Commerce Strategies for Reducing Fees 53:30 - Kevin King's Words Of Wisdom

Join the remarkable Lyden Smithers and myself as we embark on an explorative journey into the world of master negotiations and strategic sourcing. Lyden, unfolds his transition from a novice Amazon seller to a negotiation wizard capable of securing the best supplier terms. Harnessing the power of preparation and financial knowledge, we dissect his proprietary six-step strategy that takes negotiation talks beyond surface-level discussions, aiming for growth-driven, mutually beneficial outcomes. Witness how his personal growth, transformed him from a hesitant speaker to an influential global presence, and soak in the tales of leading China Magic trips that embody the spirit of true product engagement and supplier relationships.   Venturing into the realm of sourcing, we tackle the complexities of navigating China's manufacturing landscape, comparing it to the business infrastructure in the UK and US. I recount firsthand experiences and strategies that reveal China's unparalleled capabilities, even for smaller-scale orders, and discuss the delicate balance of fostering lasting, win-win partnerships with suppliers. Stepping further into innovation, we examine the tactical moves necessary for crafting unique products and securing coveted exclusivity deals, emphasizing the significant role of strong factory relationships and the art of protecting one's intellectual property while maintaining a competitive edge.   As we close the episode, we pivot towards the pursuit of business profitability and the nuanced strategies that can lead to a lucrative exit. He’ll share insights into optimizing financial metrics such as EBITDA margins, COGS, and advertising spending, all while keeping an eye on the broader picture of portfolio profitability. The conversation wraps up with a look at the rise of TikTok Shop in the e-commerce ecosystem and the immeasurable value of community in accelerating business growth. Finally, a gentle reminder that a well-curated mental diet, rich in quality information, is as vital to your success as the nourishment you choose for your body. In episode 395 of the AM/PM Podcast, Kevin and Lyden discuss: 11:05 - Navigating Supplier Negotiations Successfully 16:50 - Building Relationships in International Business 19:00 - Challenges With Production Costs 22:09 - Sourcing Challenges in Global Market 30:07 - Product Development for Better Pricing 33:49 - Navigating Innovation and Supplier Relationships 36:04 - Product Development Supplier Relationships 42:04 - Identifying the Biggest Wastes 40:18 - Strategies for Business Profitability and Growth 45:56 - Portfolio Optimization Through Quintile Analysis  49:39 - Diversifying E-Commerce Market Strategies  50:42 - Mastering Amazon and Building Communities 52:53 - Importance of Like-Minded Networks 57:00 - Kevin King's Words Of Wisdom

Welcome to a special celebration as Kevin King hits his 100th episode milestone as the host of the AM/PM Podcast. Today’s guest is the incredible Neha Bhuchar, an ex-Amazonian turned seller champion. Together, we're peeling back the curtain on Amazon's Pay-Per-Click advertising, providing a deep dive into how a seller's nuanced understanding of Amazon's A9 algorithm can catapult their PPC game to new heights. Neha, with her intimate knowledge of Amazon's inner workings, shares her journey from insider to advocate, bringing to light the distinct advantages of algorithmic savvy and having an account manager who really gets the seller's perspective.   This episode isn't just about strategies; it's about understanding the vibrant tapestry of e-commerce in India, a market bursting with potential and challenges that Neha and Kevin explore with fervor. We're talking about the synergy between inventory, search rank, competitor activity, and how they can amplify your advertising impact. The conversation goes beyond borders, addressing the logistical and cultural peculiarities, including the widespread practice of cash on delivery and Amazon's ingenious approach to tapping into India's e-commerce explosion. It's an enlightening discussion for any seller eyeing global expansion, especially in one of the world's most rapidly evolving markets.   Wrapping up, the focus shifts to the precision of data analysis and the strategies that separate the big players from the small. From dissecting Amazon's A9 algorithm to understanding the critical role of negating non-performers and day parting, Neha and Kevin share their hands-on experience and insights, equipping you with actionable tactics. Whether you're launching your first product or refining your ad spend, this centennial episode is packed with under-the-radar techniques and wisdom to help you enhance your brand's online visibility and skyrocket sales. Join us for this journey through the maze of Amazon advertising, where we celebrate knowledge, growth, and the future of e-commerce. In episode 394 of the AM/PM Podcast, Kevin and Neha discuss: 00:00 - Insider Insights on Amazon Advertising 00:13 - Insights on PPC Optimization for Sellers 01:18 - Experience in E-Commerce and Amazon Ads  07:48 - E-Commerce Growth in India 09:48 - Logistics Challenges in Indian E-Commerce  15:41 - E-Commerce Trends in India and Abroad 20:52 - Automating Inventory Management for Ecommerce 27:42 - Amazon PPC Strategies and Best Practices 34:37 - Factors Affecting ECTR on Amazon 38:19 - Amazon Advertising Strategy and Data Analysis 41:00 - Boosting Low-Performing ASINs  46:24 - Making PPC Fun to Talk About 47:00 - Kevin King's Words Of Wisdom

Ming Ooi, the co-founder of Fakespot.com and a mastermind in unveiling the opaque reality of Amazon reviews, joins us for an illuminating conversation that will change how you perceive online shopping. Born from a blend of Singaporean roots and Oklahoma upbringing, Ming's fascinating journey through the e-commerce landscape led him to confront the challenge of deceptive reviews head-on, birthing a platform dedicated to consumer enlightenment. Our discussion traverses the origin story of Fakespot.com, Ming's revelations on his pre-marketplace days with Amazon, and the critical mission to inject honesty into the digital consumer experience.   As Ming narrates the astonishing rise of Fakespot, from a burgeoning user base to over a million, we peel away the layers of strategy and resilience that propelled the startup's growth. He candidly shares the initial forays into affiliate marketing with Amazon, the unexpected twists that forced a pivot away from traditional revenue models, and the inner workings of leadership dynamics that shaped the company's trajectory. This adventure through the monetization labyrinth reveals not just the trials of a tech startup but also the ingenuity required to thrive in the competitive world of online review verification.   Our episode culminates with a forward-looking gaze into the ever-shifting sands of e-commerce, where Ming offers profound insights into the role of AI in discerning the authenticity of reviews and the future landscapes where these digital critiques will evolve. We exchange anecdotes with the online seller community, dissect the enigma of 'supernova products', and confront the stark realities of review manipulation. Ming leaves us contemplating the need for a vigilant consumer ethos in an AI-enhanced marketplace and extends an invitation to dive further into this critical dialogue. Join us as we unravel the complex tapestry of trust, deception, and innovation that defines the modern e-commerce review ecosystem. In episode 393 of the AM/PM Podcast, Kevin and Ming discuss: 00:00 - Exploring Fake Amazon Reviews With Ming Ooi 03:14 - Review Authentication Startup Collaboration 07:01 - Amazon's Impenetrable Firewall Explained 11:17 - Utilizing Social Media for Fakespot's Marketing Success 11:47 - Monetizing a Review Website With Data 15:38 - Monetizing High Conversion Rates  17:57 - Monetizing Data for Financial Companies 20:03 - Amazon Review Management Analysis and Challenges 23:17 - Navigating Amazon Seller Feedback and Product Reviews 29:21 - Amazon Product Listing Strategy Failure 31:05 - Amazon Acquisition Talks and Fake Reviews 34:53 - Fake Reviews in E-Commerce Industry 36:09 - AI, Reviews, and FakeSpot Analysis 41:44 - Trusting Product Reviews  45:01 - The Future of E-Commerce Reviews 47:25 - Trust in Technology and AI 52:00 - Kevin King's Words Of Wisdom

Imagine transforming a simple book-flipping hustle into an empire within the ever-competitive Amazon marketplace. That's the extraordinary leap Amanda and John Balcazar, our distinguished guests, made—crafting a successful brand in the pet industry through the finesse of Amazon FBA. Their tale is one of grit, strategy, and the unique bond of navigating business waters as life partners. Journey with us as we unveil the insights that propelled them from flipping pages to dominating pet product sales, all while strengthening their relationship amidst the demanding e-commerce tides. John's military precision, honed from his Marine Corps days, meets Amanda's entrepreneurial savvy to form a duo whose strategies are as disciplined as they are innovative. They regale us with stories from the adrenaline-laced early days of garage sale treasure hunts to the calculated arena of private labeling. Discover how their devotion to constant evolution and their keen ability to spot the shifting currents in the marketplace have anchored their brand's position at the forefront. The Balcazars embody the agility and foresight necessary to cut through the noise of commodity-based retail, outlining the significance of customer loyalty programs, product quality, and the art of scaling a brand with integrity. In the heart of our discussion lies the couple's approach to nurturing both a thriving business and a flourishing relationship. They candidly share the tactics they employ to stay competitive, including adapting to new Amazon fee structures and optimizing warehouse operations. But beyond the logistics, they reflect on the harmony required to sustain a partnership wherein work and life are intertwined. Their story isn't just about building a brand; it's about crafting a life where success is measured not just by sales, but by the strength of their union and the happiness of their customers. Join us for a conversation that's as much about the nuances of Amazon selling as it is about the power of partnership and shared vision. In episode 392 of the AM/PM Podcast, Kevin, Amanda, and John discuss: 00:00 - Power Couple Discusses BDSS Experience 01:44 - Remembering Our First Meeting 05:47 - Billion Dollar Seller Summit Hawaii 08:05 - Impactful Insights From Event Attendance 09:27 - Military Background and Business Transition 17:33 - Reselling, Private Labeling, and Amazon Strategies 18:10 - Garage Sale Treasure Hunting Strategy 22:23 - Phasing Out Old Inventory for Profit 27:45 - Strategies for Selling Commodity-Based Products 28:29 - Product Differentiation in Competitive Markets 33:25 - Building a Dog Chew Brand 41:05 - Focus on Supply Chain Management Plans 45:30 - Running a Business as a Couple 48:39 - Business Partnership Like Marriage 54:30 - Kevin King's Words Of Wisdom

Fernando Spindler and Mariana Oberherr's story is the stuff of Amazon entrepreneur's dreams; a vivid chronicle of a couple who dared to swap the vibrant shores of Brazil for the rugged landscapes of Australia, all in the pursuit of success. Their adventure into the world of e-commerce and Amazon selling is a masterstroke of resilience and innovation, and their story unfolds in our latest episode. From the thrills of an early eBay side hustle to the complexities of navigating the RV and outdoors market down under, these two not only crafted a booming brand but also curated a life where work and romance intertwine with remarkable harmony.   Venture with us into the intricate web of challenges and triumphs that define a successful online e-commerce business. Fernando and Mariana meticulously peel back layers of their journey, revealing how they dodged pitfalls such as intellectual property theft and turned customer engagement into their secret sauce for product development. Scaling up wasn't just about numbers for this dynamic duo; it was about strategic sales across eBay Australia, Shopify, and Amazon, about riding the wave of market fluctuations, and about fostering a tight-knit community that's as invested in their products as they are.   At the end of our conversation, the spotlight shines on the art of diversification and the power of “customer-centric” design. Listen intently as our guests lay bare their strategy for expanding from a single hit product to a diversified line that caters to the evolving needs of their customers, including the unexpected rise in car living essentials. With a narrative that seamlessly weaves from tales of business acumen to heartwarming moments of mentorship, Fernando and Mariana's story is an invaluable playbook for any aspiring Amazon entrepreneur with a partner in both life and business.   In episode 391 of the AM/PM Podcast, Kevin, Fernando, and Mariana discuss: 00:00 - Couple's Journey From Brazil to Australia 05:35 - Couples in Business: How To Make It Work? 10:28 - Mix of Accents From Multicultural Backgrounds 11:47 - Entrepreneurial Journey Through Different Ventures 14:14 - eBay Dominance in Australian E-Commerce 16:33 - From Camping to Successful Amazon Business 17:48 - Unique RV Accessory Sourced From Japan 22:04 - Expanding Product Range for International Markets 28:22 - Product Quality and Competition Challenges 29:15 - Challenges of Financing and Scaling Up 33:37 - Shopify Expansion Strategies and Challenges 34:41 - Diversifying Sales Strategy for E-Commerce 39:12 - Business Operations and Growth Expansion 40:28 - Product Diversification and Customer Engagement 48:45 - Customer Feedback Drives Product Success 52:12 - Encounter at Helium 10 Summit 55:00 - Kevin King's Words Of Wisdom