Do you want greater sales and a bigger business this 2018? Do you want to have an Amazon business that makes money while you’re sleeping? Do you want to finally reach all of your financial goals?

If you want a stronger business, it’s time to change your approach. With the start of the new year, it’s time for all Amazon sellers to make five key resolutions for selling expansion.

Below are Ask Idea Sourcing’s top 5 Amazon seller New Year’s resolutions that will completely transform your business—with minimal effort and cost on your part.

5 New Year’s Resolutions Every Amazon Seller Should Make 2018 business plan desk notepad working tools

1. I will streamline my operations.

Growing your business should mean that you, as the Amazon seller, do less work—not more. Outsourcing some of your processes is the only way you can streamline and grow your operations. You are only one person. Even if you have a team of employees, you have a set capacity that the group of you can achieve.

When you outsource various processes along the selling journey, you’ll free up time to focus on tasks that are more fruitful for the business. You’ll have more time to devote to strategy and analysis, as opposed to detailed logistics. You’ll give your business the chance for growth. Best yet, you’ll give yourself more time to breathe and finally have that work-life balance you keep hearing about.

We recommend outsourcing fulfillment to FBA and sourcing to Ask Idea Sourcing. These are the simplest, easiest ways to streamline your organizations while saving your business a significant amount of time and money. Stop trying to do everything yourself. Make 2018 the year of leadership and growth, not of running yourself ragged.

 

2. I will cut my sourcing costs.

Growing your business often starts with cutting back on unnecessary costs. When you delete expenses, you instantly have higher margins and a greater net income. This is one of the easiest ways to see fast growth in your numbers. Better yet, you don’t have to worry about the repercussions of changing your pricing for your customers. You’re simply altering operations in a way that is more cost-efficient.

You can cut sourcing costs with a few key seller secrets:

  1. Order larger volumes of goods.
  2. Negotiate with your supplier.
  3. Perform frequent inspections.
  4. Discuss discounts.
  5. Change your shipping method.
  6. Watch currency exchange rates.
  7. Build a relationship with your supplier.

Learn more about these tips with our article “Cut Sourcing Costs With These 7 Seller Secrets.”

 

3. I will expand my product portfolio.

The new year is the perfect time to start branching out and adding new products to your lineup. Analyze your 2017 data. Which products performed the best? Why? Which didn’t sell-through? Start phasing out old inventory with discounts and deals, and begin building a new list of offerings.

  • What products will be most relevant to your portfolio?
  • What products will complement your current offerings?

Adding more products to your brand will allow you to have greater breadth and depth with your customers. This can increase visibility and loyalty, ultimately ending in a significant increase in sales.

Ask Idea Sourcing will help you find the perfect product solutions for your portfolio. Learn more about our product consultation services here.

 

4. I will sell x more.

If you streamline your operations, cut sourcing costs, and expand your product portfolio, you should naturally start to see a greater traction with your business. But letting it flow naturally isn’t good enough. If you want to see sustainable growth and success, you need a definitive sales strategy.

Set a specific number or percentage that you want to reach this year.

  • The business will perform 25% over last year, quarter by quarter.
  • The business will do $100,000 more in revenue this year.

When you have a set number in mind, consider what you need to do to achieve that goal. Do you need more and better reviews to win the Buy Box? Do you need to reevaluate your pricing? Do you need to lower your return rate? Do you need to budget more for paid advertisements? Do you need to update your optimization and marketing processes? (Check out our partner Seller’s Choice to outsource your marketing and optimization needs.)

Create a yearlong goal that is specific and attainable. Break down the year into quarters and months. What will you do each month and quarter to reach that end goal? Who will you partner with? Where will you allocate funds? What will be your primary focus?

 

5. I will implement eco-friendly processes.

How can you be more eco-friendly this year? The sheer number of boxes and packing materials that a single Amazon seller uses in the entire supply chain can be staggering. As a company, you want to try to minimize this waste as best as possible. Going green will help build your brand as a caring, eco-friendly organization, which can improve customer engagement and loyalty. Moreover, you’ll be reducing your carbon footprint for the good of the world.

Some simple measures Amazon sellers can take to be greener:5 New Year’s Resolutions Every Amazon Seller Should Make eco-friendly recycling circle leaves

  • Recycle cardboard boxes.
  • Purchase recycled raw materials.
  • Choose eco-friendly products to sell and resell.
  • Consider shipping larger quantities via ocean rather than air.
  • Package your boxes with recycled paper. (Don’t use Styrofoam peanuts.)

 

The Bottom Line

A few changes this year will go a long way. Streamline your operations to free up time for strategy and growth. Cut your sourcing costs to instantly have higher margins. Expand your product portfolio to have a deeper relationship with customers and open up multiple streams of income. Create a specific strategy for sales growth. Be kinder to the earth.

Together, these five resolutions will bring your business to new heights, with little to no extra effort or cost on your part. What are you waiting for?

Happy New Year from Ask Idea Sourcing!

What are your Amazon seller New Year’s resolutions? Leave us a reply below!