This interview podcast focuses on improving profitability for Amazon sellers. The host, Vincenzo Toscano, interviews Cyndi Thomason, founder of Bookskeep, who discusses common mistakes Amazon sellers make that hinder profitability, such as mismanaging inventory cash flow and neglecting operating expenses (OPEX). Cyndi advocates for the "Profit First" system, which involves allocating a percentage of revenue to profit from the outset, using separate bank accounts for different purposes (inventory, OPEX, profit, etc.), and regularly reviewing financial statements (every two weeks is recommended). She emphasizes the importance of identifying and eliminating unprofitable products or skews, and adjusting to changing Amazon fees and rising costs. By implementing these strategies, Amazon sellers can improve their financial health and achieve sustainable profitability.
