Awesome story - congrats on finding a method that works for you! Are your taxes complicated with constant buying/selling, or are automated programs pretty good at taking care of this?
As someone who has followed a similar path, I highly recommend reading Profit First. Gist is you split your Amazon deposits into different accounts. Maybe 80% for inventory, 10% compensation, 5% taxes, 5% profit. Just for round numbers. It's easy once you figure out the right percentages, novo.co does it automatically.
Did/do you have any problem providing "invoices"? I do seller-fulfilled books on Amazon but was worried about branching out and providing the invoices.
The selling groceries tip is a gem (no returns)
Great job Mahi!!!
Love to see the cartoons winning 🫡
So proud of you Mahi!
May this man never step foot in a corporate office ever again!
Awesome story - congrats on finding a method that works for you! Are your taxes complicated with constant buying/selling, or are automated programs pretty good at taking care of this?
As someone who has followed a similar path, I highly recommend reading Profit First. Gist is you split your Amazon deposits into different accounts. Maybe 80% for inventory, 10% compensation, 5% taxes, 5% profit. Just for round numbers. It's easy once you figure out the right percentages, novo.co does it automatically.
Great tips, thanks! QQ - Do you still use FBA and Prime or was that only when you were selling books? Would love more details on that
Awesome
Did/do you have any problem providing "invoices"? I do seller-fulfilled books on Amazon but was worried about branching out and providing the invoices.
Awesome job mahi. Just curious what do the margins look like on a 200k month ?
LFG Mahi!
Mahi you're a boss 🫡
Happy for you Mahi, cheers to a record Q4
Congrats!