Maximizing Profitability on Amazon

by | Feb 1, 2023 | Podcast | 0 comments

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tyler-jefcoat

Tyler Jefcoat is the Founder and CEO of Seller Accountant, a company that helps Amazon sellers achieve maximum profitability through bookkeeping and strategy services. He provides financial coaching for sellers exceeding $100 million per year in e-commerce sales. Tyler also leads the Sellers Roundtable, an exclusive mastermind for seven and eight-figure sellers. Before founding Seller Accountant, he was the Co-founder and Managing Partner at Care to Continue, a home healthcare company that grew from zero to 100 employees within four years.

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Here’s a glimpse of what you’ll learn: 

  • Tyler Jefcoat addresses developments in the Amazon aggregator space
  • Profitable Amazon seller strategies
  • How specialized seller accounts impact purchasing decisions 
  • Creating a valuable experience to solve customer problems 
  • The importance of evolving your seller strategy
  • Advice for maximizing business value for investors 
  • How to increase profit margins
  • Tyler talks about Amazon’s seller market

In this episode…

Is Amazon a profitable platform for sellers? In 2022, the website’s traffic declined by 40-50%, while ad costs increased by 20-40%. So how can you maximize your business’ value to succeed in that marketplace?

According to Tyler Jefcoat, success in a volatile market is not about generating sales but maximizing profitability. Three factors drive enterprise brand value on Amazon: business financials, profit margins, and target customers. Invest in QuickBooks Online or similar software to optimize accounting and understand your expenses and investments. Next, Tyler says to analyze your profit margins by focusing on PAG (post-advertising gross) profit to determine your total generated revenue and its sources. It’s also critical to develop long-term relationships with your customers by focusing on a specific product category that targets their needs, solves their problems, and produces a desired outcome.

In this episode of What The Teck? Rolando Rosas and Dave Kelly sit down with Tyler Jefcoat, Founder and CEO of Seller Accountant, to discuss top tips for optimizing your Amazon seller account. Tyler addresses developments in the Amazon aggregator space, profitable Amazon seller strategies, and how specialized seller accounts impact purchasing decisions.

Resources mentioned in this episode:

Sponsor for this episode…

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Episode Transcript

Intro  0:00  

Hi welcome to the What The Teck? podcast where we talk about business and Office Technology and put our 20 years of expertise to discussing trends and issues impacting the workplace.

Rolando Rosas  0:25  

This podcast is brought to you by Global Teck Worldwide your Technology Office experts that’s been around for 20 years providing trusted, personalized office IT solutions check them out at amazon.com/teck. That’s amazon.com/teck.

Dave Kelly  0:46  

Still paying for slow, outdated business internet. Why would you do that everything is so expensive and 2022. But listen, you might not realize you can go to circuitloops.com instant quotes to easily compare with what you’re paying for and find the upgrade that’s right for you. It’s that easy. Go to circuitloops.com.

Rolando Rosas  1:06  

And welcome to another session of What The Teck? I’m Rolando, the founder of Global Teck Worldwide, where we talk about business and technology. And we bring on the leading voices to talk about how those two things intersect in the workplace. And today we bring a big gun Tyler Jefcoat of Seller Accountant to talk about is Amazon the right place today for sellers. Should you be looking at Amazon as a channel to make money. When we bring on Tyler. I want to bring somebody else out that joins me right around this hour while we go to doing these types of podcasts. It’s my friend and Buddy, Dave Kelly.

Dave Kelly  1:44  

Listen, you guys are in for a special treat today.

Rolando Rosas  1:49  

Dave, I want to give a shout out a special shout out to Steve Cadigan. I just saw an article recently in CNBC that had him talking about the remote workforce, and about Gen Z’s and millennials. And he’s been on our podcast before. So I want to give him a shout out great article featured his new book, Work Quake. Check it out. It’s on cnbc.com. And if you want to catch the book or learn more about Steve, go to Stevecadigan.com where he has a whole lot of stuff regarding remote work, and how to get businesses working in this new environment that’s got the whole world turned upside down regarding talent. What’s the best way to go about doing that? So shout out to you Steve. Great work. Good going there, buddy. Look forward to seeing you soon. All right. Now let me talk about Tyler. Tyler is the founder of Seller Accountant. And Seller Accountant is a company that helps Amazon sellers achieve maximum profitability by providing bookkeeping and financial coaching services. I want to give you a little quote from Tyler he’s has on here that sales are vanity. Profit is sanity. Dave, I love that I absolutely love that. He is passionate about helping Amazon sellers. And E commerce brand owners move from crazy to cool. And from insane to insanely profitable. I absolutely love those. Now, let’s properly welcome Tyler to What The Teck? lead me. Exactly. Hello. There we go. Let’s welcome Tyler.

Tyler Jefcoat  3:32  

Hey, guys, thanks for having me today.

Dave Kelly  3:34  

Welcome. Hey, Tyler.

Rolando Rosas  3:36  

How are you doing Tyler? 

Tyler Jefcoat  3:39  

Man, it is a beautiful day down here in the swamp that is Georgia in the summer. And I’m grateful to be alive. Really awesome to be here with you boys on this summer afternoon.

Rolando Rosas  3:49  

Awesome. I’m glad to have you here. Glad to have you with us. And we look forward to having this discussion about what’s happening right now in in the Amazon ecosystem, but want to go right into it. Because Amazon is not the same Amazon as it was six months ago, even before the pandemic, it’s still Amazon. But things have changed for us because we sell on Amazon, we see the changes happening, and they’re continuing to happen. And I know I want to ask you straight away about one of the biggest things if you’re on Amazon, this whole aggregator thing in which you work with those folks, you know who those people are. There’s a lot of big names out there like thoracic SEO and others. The game around aggregators, which are companies that buy up Amazon brands or companies that are selling on Amazon, that business model is starting to change a little bit the hope was they were going to buy the best of the best and make them even better. Or even companies that were doing okay and make them primo companies and starting to change. Tell me what’s happening right there with the aggregator space.

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