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1/ Hidden Sales Tax Nexus 🧐 Using Amazon FBA? Be careful! Any state where Amazon stores your inventory creates a sales tax nexus. This means you need to register in those states and remit sales tax accordingly!

2/ Big discounts can hurt your bottom line 🫰 Prime Day = big discounts. But watch your margins! After a 50% discount, plus Amazon fees, shipping, and other costs, profitability can shrink fast. (The DayZero team has templates to help track this!)

3/ Shipping times impact customer satisfaction ⚡ Prime Day sales surge means more orders to fulfill. Make sure to ship on time! Slow shipping can lead to negative marks on your account and hurt future sales. #AmazonPrimeDay #SellerTips #Ecommerce #DayZero

Dressing up as your PnL for halloween since everyone's so scared of it

Top 7 mistakes I've seen when setting up an ecommerce store 🛒👇

1/ Not Tracking Landed COGS Accurately If you're not tracking your cost of goods sold (COGS) clearly, you can't understand your profitability. This is crucial!

2/ Not Monitoring Inventory Quantity Running out of stock or over-ordering? Both can hurt your cash flow. Accurate inventory tracking is essential to avoid this.

3/ No Visibility Into Inventory Value Investors and lenders need to know your inventory value. Don't overlook this key metric!

4/ Not Linking Amazon/Faire to Shopify Your sales channels should work together, not in silos. Integrating them leads to smoother operations.

5/ Sending Wholesale Invoices Manually Stop sending PDFs manually! Use digital tools to track wholesale invoices and save time, reducing errors.

6/ Too Many Payment Processing Systems Simplify! Too many systems can cause confusion and lead to unnecessary fees.

7/ Sales Tax Compliance Are you registered in the right states? Make sure you're remitting sales tax correctly to avoid penalties.

Set your ecommerce store up for success by avoiding these common pitfalls! (DayZero helps with all of the above 😊) #EcommerceTips #BusinessMistakes #DayZero #Entrepreneurship

5 Key Factors to Consider When Choosing an Ecommerce Product to Sell (from my personal experience)

1. Profitability: Early on, I learned that if my contribution margin didn’t exceed customer acquisition costs, I was losing money with every sale. Always factor in all costs like COGS, marketing and fulfillment (DayZero helps with this)

2. Basket Size/AOV: I used to struggle with high shipping costs. Over time, I realized that ensuring my average order value (AOV) covered these costs helped maintain healthy margins.

3. Returns: Returns are expensive! I found that managing a return rate under 10% kept my logistics and customer service costs in check.

4. Repeat Purchase Potential: I’ve always aimed to sell products that people need to buy again. Subscription models or consumable products really help with this.

5. Bundling Opportunities: One of my favorite strategies was bundling products to increase AOV. This maximizes shipping cost efficiency since shipping is a fixed cost up to a certain volume.

Deciding between the financing options available to your ecommerce store can be overwheming. We break down what each actually means, who it works best for, and the pros and cons of each for sellers -> ondayzero.com/blogs/ecommerc…