Goal Setting Breakdown For Your Amazon FBA Business

 In this blog post, we are going to be going behind the scenes and show you an incredible potential Google Sheet, which you can take a copy of, which is all about online arbitrage and wholesale goal setting. This is an opportunity for you to not just to do some goal setting, but to know what it means for the goals that you are setting.

What you see here is the goal setting sheet which you can have access to for completely free. This is going to be something which you can play with on your own computer, and customise it to you. 

This is basically sales goal setting, sourcing, purchasing and shipping goal setting. So, you have an overview of your sales, which you can break down to profit goals. Then, it is broken down to the three major systems in your online arbitrage or wholesale business, which is sourcing, purchasing and shipping - and just really breaking that down into some specific numbers, which may be insightful for you.

Let's say, for example, you want to be a six-figure seller by the end of the year, you just want to do 80k a year - you only want to do part time, and you're not interested in being a professional VAT seller - let's say you're just wanting to get started.

Since for the year, we have got 80k, that then means for the quarter it would be 20k, for the month it would be 6.6k, for the week, it would be 1.5k, and for the day, it would be 219 pounds. 

After this, you would then work out your average unit sell for price. If you do not have one, then you can put down an estimate for what you want your average sell for price to be. But, let's say you have already had sales, and you have history of this, and this happens to be £19.32 for you, all this does is it breaks down what are those units sold per year, per quarter, per month, per week and per day.

Then, once you start talking about the percentage of units not sold, this talks about your inventory health system. What happens if you don't sell everything within your business?

Hopefully, we always want to be able to sell absolutely everything, but let's say for example, in a 30-day period, you have 5% of your items which have not sold, and you may have purchased too much quantity, and it has gone over the 30, or 60 day mark. So, what if they haven't sold?

This sheet will hopefully give you some sort of an idea, and make the maths easy for you.

Then, your average units which you purchase per ASIN. If it is an online arbitrage arbitrage business, it might be only 3 units, 10 units, or 5 units per ASIN; however, if you are in wholesale, and you have got some great winners, you may be purchasing pallets worth. So, you might be purchasing 100 units per ASIN. All this does is, it ultimately starts to break down your numbers.

So, let's say for example, with online arbitrage, you do 5 units on average per ASIN, this is now saying, and it breaks it down to 911 ASINS sold per year, quarter, month, week and day. This is essentially saying, on average, if you find two different products which you are going to purchase 5 units of per day, and you ship those items, knowing that 10% are not going to sell at your average sell for price, you are now at the realms of you are achieving towards your target. 

Your average purchasing price, let's say it is roughly around 50% of your sell for price, it could be higher or could be less depending on what the business is, but this is basically saying that at this particular average purchasing price, you are purchasing around 112 pounds per day, and around 40k worth of purchasing in stock. Essentially, what the sheet is doing is breaking everything down for you to make everything much easier for you.

Further reading:

5 Reasons Why An Online Arbitrage Business Is Possible Long Term

7 Things Successful Amazon Sellers Do

https://www.systemisefulfilment.co.uk/blog/3-tips-to-ensure-you-achieve-your-goals-2