Increase FBA Business Work Less In Operations
February 28, 2018 9:02 am
I had a really great conversation yesterday with a couple of clients that are part of my mastermind group and we went through this exercise and it blew their mind, it turned on a light for them, as it does most people. I wanted to share what we discussed with you today.
In this video, I wanted to show you an overlooked problem that most people fail to notice and one of the big things that keeps them being stressed, keeps them working late in the office, missing their friends and their family, and not making the progress that they need.
In this example, I am just going to run through and uncover that now. Most business owners when they are starting out, at least, they work 50 hours a week. Most people I meet do 50 hours a week as a minimum on their business.
Let’s run in this example, and stay with me because this going to be really insightful for you.
Let’s go!
If you are working 50 hours a week and like most people, then you’ll be doing 70% on operations especially in a start up mode.
T Harv Eker said, “70% of time is spent on operations and we need to flip that to spend on sales and marketing”.
In our world, we’re talking about new product launching, dialing into new marketing strategies, listing optimisation and things that are revenue driven for your business and get your product more visible and selling more.
If you’re doing 50 hours a week, that’s 70% operations then you spent 35 hours per week on the operations, which is obviously a lot of time.
Let’s say we’re going to outsource 25 hours of that, we’re gonna outsource that to a VA – Virtual Assistant.
There is a bunch of places you can get amazing VAs, we’re one of them, so if that’s something you need help then just raise your hands up and we can see if we can help you at any stage.
Ultimately, if you got 25 hours with our guys, you can outsource stuff for $4 per hour to $10+ but we have VAs who can do it $4 dollars per hour that are pre-screened, pre-coached on mindset, skills, and systems, which ultimately, you can unlock time through this kind of investment.
Let me run through what I mean:
25 hours on which you can outsource to a VA, $4 per hour, then that’s gonna cost you a $100 per week to buy 25 hours. Which means, you got 25 hours extra for you to leverage to work on more important things like building systems which we help people as well, things that grow your business.
The question that i’ve got for you is if you’re working 25 hours on things that can be outsourced for $4 an hour, how much value are you bringing into the business every week? How much value are you bringing currently if this is the case?
I think we know the answer, its $100 of value to the business per week.
Actually, this is not good. This is bad if you’re spending a $100 per week and things are not moving forward. This is one of the big reasons why people don’t get traction on their business. They constantly fighting fires and not things that really matters and they live in urgency and live in reaction.
We need to flip that and hopefully this will give you some insights. There’s always new hacks, tricks and tools which are great and gives you an advantage over your competition but everyone has a huge long list of things to try and test because most of us have don’t have operation outsourced, things we talked about: Inventory Management, Customer Service, Bookkeeping, and the general tasks we have spoken about.
These are not outsourced so basically, on a higher level, they are not being able to set-up the system so they can then focus on this new tools, hacks, and tactics when they do come in. So get the operations done first so you can take full advantage of all the other areas.
Right now, you are spinning all these plates, operational plates, some of the marketing and business grow stuff and if life happens, you drop these plates and fix these problems and the plates on the floor are broke.
What we want is set these VAs up and the team’s working so they can spin these plates for you, Inventory Management, Customer Service, Bookkeeping, and help you in all the sides of the business. If life does something in real life and you need to slow down, and when you are diving in with your marketing and business growth tasks, you can work much much better because you have more focus, is not being distracted ever 10 minutes by an urgent request coming in.
Let’s flip it now:
We’re gonna take 25 hours and instead of working $4 hour task, we’re gonna work a $100 per hour task. Things like facebook strategy and building funnels, launching new products, creating new products, driving your revenue driven systems to get more visibility on your listing, whether on partnerships with people and to create more attraction, momentum and leverage in your business.
Working on this higher value things are ultimate way to put in our time. This is not the exact science but what it will reveal to you is the hidden kind of problems that people are stuck in, a lot of people are confused. They’re trying these new things and it’s like short term shiny objects and works in a minute and a flash in a pan and then it’s back down because they got these things being outsourced running without them.
25 hours times $100 (current hourly rate when you are working higher value stuff), then each week you’re bringing $2,500 to the business. What happens now, if we take $2,500 times 4 weeks, that’s $10,000 per month in value versus $100 per week times 4 equals $400.
Can you see how much difference there?
Our goal is to reach $10,000 per month than $400 per month. In 12 months $10,000 per month X 12 which is $120,000 versus $400 times 12 which is $4,800 value per year.
Can you see what happens if you spend your time on low value tasks that can be outsourced? Everyone does it on the most part on some things but we want to be conscious on removing ourselves to things that will really add value and growth to the business.
What do you think happens over the long term? Do you think your total value stays a $100? Then the more you work and refine your revenue driven systems, the more you set up your business. It can operate and grow without you.
Let say you’re working on your facebook funnels. Let say you’re launching more and more products; creating the products; getting your products moving; if you’re dialing in into your sponsored ads and really ramping and scaling them out; do you think your dollar rate stays at $100?
You get better. Your systems improve. You’re refining how you do things.
The more you launch products, the better you get and the more products you can launch and the better you got on these revenue driven areas in your business, this grows exponentially over time.
It’s not gonna stay a hundred dollars forever. You’re getting more and more and your value of your business increases every time you spend your time on higher value tasks.
If people don’t change this, this keeps people stuck, frustrated, and working late.
If this has been helpful. If this is something you are not really conscious of, and you want a tool which is gonna help you get rid some of these stuffs, then get in touch.
We got a tool called The Quick Off Loader which is a worksheet to get clear on the things you need to get rid of, its a way to off load.
If you want that and we’ll make sure we’ll give it to you. This is going to unlock your value, and help your FBA grow.
P.S. When you are ready, there are 4 more ways we can help you.
- Get access to ‘The Ultimate Cheat Sheet for Creating a Well Oiled Product Launch Machine.’ It shows you how to launch products fast, get stuff off your plate & get organised. It’s FREE and you can grab it HERE.
- Join our Group – ‘Email Marketing for Amazon & eCommerce’. It’s our community where biz owners learn to get stuff off their plates, get organised and unlock cash flow in their email lists while building a real relationship with their audience.
- If you’re looking for a Rockstar Graphic Designer who can totally revamp your product images digitally, we can help. He’s been with us 4 years and is incredible at creating powerful images that grab attention in the Amazon search results…to convert more lookers to paying customers…helping you build momentum, improve rankings and grow profits…Don’t take our word for it. Click here to see what others are saying.
- Apply for our ‘Done For You’ Email Marketing Agency. I’m working closely with 7/8 figure brands to and turn their email lists into thriving profit centres by driving sales on and off Amazon. We’re driving page 1 rankings, 5 star reviews and long term value of your customers…Without this being an additional expense. (Pay As You Profit).
If you’d like to work privately with me to unlock cash flow stuck in your email list while building a real relationship with your audience, then just comment “Done For Me”.