From my experience as an Amazon seller, I usually sign up for a bunch of programs I don’t need that end up costing a lot of money and take away from my profit in the long run. Here’s a simple post of my methodology to saving money from subscriptions to put more into my pocket.
First, I analyze exactly what I need to have for my business to run successfully. comapping.com is a great tool that Liz uses to illustrate Mind Mapping.
Using my Mind Map, I write down everything my business needs to stay the same as it currently is. This means, what tasks need to be done so my business doesn’t grow but doesn’t decline either?
Answers for Me:
a) Customer Support / Customer Emails
b) Keep Track of Numbers
c) Reorder Inventory
d) Pay Sales Tax
e) Monitor Competition
Next, how do I automate all of this? * means I need a program
a) Customer Support – Create a Customer FAQ Page & Customer Support Agent – Email Program* Customer Support Cases* Gmail Suite*
b) Keep Track of Numbers – Quickbooks and Financial Statements – Weekly Cashflow and Sales from Amazon*
c) Reorder Inventory – Inventory Management*
d) Pay Sales Tax – Remit Sales Tax*
e) Monitor Competition – Infringement Reports*
Now, I know, in order for my business to succeed, I need programs that can show me profit and Amazon expenses on a daily/weekly basis, tool that manages my inventory and tells me when to reorder based on trends (optional), program to remit sales tax and a program to monitor infringement and tell me when to get a competitor off (optional)and email customers.
1) For only profit, Amazon programs available:
– ManagebyStats $40 a month
– HelloProfit $97 a month
– CashCowPro $49.97 a month
2) Inventory (optional):
-Restock Pro $99.00 a month
-TaxJar $19-$49 a month
4) Infringement (optional):
– AzonSellerTools $59.00 a month
– ManageByStats $20 a month
– CashCowPro – Free with Profit
– FeedbackGenius $40 a month
6) Customer Support Cases
– Zendesk $12 a month
– Freshdesk $19 (billed yearly)
7) Custom Email
– Gmail Suite: $5 a month per email on custom domain
– Zoho: $3 per email
Next, what do I actually HAVE to have.
1) Yes, 2) No,Do it myself, 3) Yes, 4) No, Do it Myself, 5) Yes, 6) Yes, 7) Yes
Elimination of 2 and 4 saved me $1,896.00 a year. I can pay myself that to take a look at inventory levels and competition an hour a week.
For 1, 3, 5, 6, 7: I choose the cheapest with the most options that I like to use. For me, Cashcow fits 1 and 5. Taxjar for 3 and Zendesk 6 and Gmail 7
Now that totals $1,271.64 a year. Very nice, I like that number and can live with it.
If you have online business banking (which you legally should ), head over there and download your monthly bank statement for the past 3 months via excel. Look for duplicates month to month. Unsubscribe what you don’t need. Whatever the number you see is, multiply that number by 12 and you’ll see how much your actually spending per year.
I, personally, prefer TrueBill, which will do this for me automatically. It looks at my accounts and tells me what I’m subscribed too. If I’m lazy, which I’m not, I can pay truebill $10 per unsubsription and they do it themselves. https://www.truebill.com/
If you want to be really sneaky about it, destroy cough cough *loose* your debit card associated with your monthly billing and order a new one for free from the bank. Everyone your subscribed too cant bill you anymore.
That’s it! I hope this post will save you a few thousands dollars, because it sure does for me.