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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