Biz Tales

Thanks @franchisewolf for adding me to the #Franchise Twitter A little about me in respect to franchising. I was part of an ownership group that owned an Edible Arrangements franchise for 8 years...

Help Innocent Mahendra Patel to Get Justice - Sign the Petition! chng.it/cNVvHrWLkV via @Change

Is it fitting for this world that a horse named Sovereignty won over a horse named Journalism? #rigged lol #KentuckyDerby151 People will say it was set up!

@HeroDividend Dividends do get slashed if stocks go down which causes stocks to go further down. Not criticizing your strategy. Everyone has a different one. A Company can likely invest the money and multiply it better than individual investors can in the form of dividends. My thought

Stocks go up. Stocks go down My dividends come in either way

@HeroDividend What’s the return over 10 years including dividends?

The trash truck doesn’t care about tariffs Your trash will be picked up every week Long $WM ♻️

@michaelpatron0 Our operations is also like 1/5 of your size so perhaps easier for us to do some of these things that are harder for you

@aripat03 Yea, easy to break down income, almost impossible to break down profit per channel so we do that on our own weekly scorecard.

Our profit on Amazon is down YoY because of huge fee increases. Good news is our non Amazon profit is up YoY. I recommend anyone selling on multiple channels actually break down the profit from each one and even look at the margin % - lots of levers to pull.

@michaelpatron0 General is one of our sales channel. This is basically the overhead and our goal is to not make this a dumping ground and allocate as much as possible to each channel if it makes sense to

@michaelpatron0 We do an allocation at month-end for each channel where we can. Like shipping cost for different channels gets allocated according to report For all expenses that can’t be allocated, we dump it in the general cat which is our overhead like rent, general software, utilities, et

@scenicnights Trading at 40x sales, margins came down (albeit they said it would increase again). Earnings multiple looks very reasonable but if margins comes down anymore, that multiple will skyrocket. Let’s see how it goes. Hope the trade works out for you!

@elonmusk Vance was talking diplomacy and got told by Z that Russia violates agreements. Vance didn’t have a good response so he started attacking. If Vance’s response was different, this whole thing could have been avoided. That’s what I noticed!

Watch this carefully. Very important.

Any have experience with selling in the UK as an ecommerce Company? We have a VAT account which we are paying , but anyone have experience with income tax. My understanding is we would pay income tax in the UK and take a credit on the US side. Anyone with experience on it?

@SelfMadeMastery What is the source of this? Only asking because I want to see what they included and excluded from this statistic. Seems very high. Curious to know what percentage of Household are millionaires?

18% of the USA are millionaires right now. Does that number seem correct?

@Molson_Hart @michaelpatron0 @QuickBooks $500/M isn’t terrible in comparison to what I have seen. I assume your volume is decent and you have multiple channels (more than most sellers) We pay $300/m but much less going on than what you probably have. He is also in India so that helps I am sure.

@michaelpatron0 @QuickBooks My bookkeeper has been rawfogging me on fee increases $500/m now!!!!

I am taking my bookkeeping in house. I have my bank account connected to QBO and I guess there is no way to have images of check deposits automatically imported? How is @QuickBooks such a huge company with the most shit integration and UI?

@michaelpatron0 @QuickBooks They also don’t have a good inventory management system which I still don’t get how. Lots of limitations for the amount of customers they have. Haven’t seen as much much innovation from them either. Maybe they don’t care since they will have the customer base anyways

@michaelpatron0 Is this the "system is in the learning phase" and it will get better over time? Did you collect any information / emails from those clicks to re-target them again?

I spent almost 700 bucks on Google Ads to generate 6,000 clicks to my site. This led to 2 sales, back to the drawing board I suppose. lol.

@michaelpatron0 What do you not like about it? Electrical issue?

Biggest regret of my life (besides dating my ex) is buying this piece of shit below. I would throw this thing out a window if it wasn't so heavy. Anyone looking for a forklift? I have one available, lol.

@michaelpatron0 What are you currently doing? Cold out reach?

Been focusing a bit on wholesale for our brands - small shops or businesses. No sales guy or anything yet. Over the last 8 weeks we are averaging 1,500 a week profit in wholesale orders with a gross margin around 50%. Still have not finished our wholesale portal on our...

@michaelpatron0 You complain about Amazon but also putting in massive efforts to reduce exposure and reliance to Amazon, which is refreshing to see.

When you give Amazon control of your business, this is what happens. Amazon wants us to pay them money to store our items and handle our shipping but when they do a shitty job of it, they expect sellers to take the losses. The example below is what happens when Amazon takes...

@michaelpatron0 Impressive you were able to keep count for the 12 drink day! Nice little Thursday funday?

Is this the type of data you want to see? lol. Garmin Sleepscore vs Alcoholic beverages consumed over the last 68 days. Will collect this data through EOY and do a more robust round up that considers other factors like sleep length, exercise, sleep location, etc.

@sachinpawa @michaelpatron0 How do we contact you?

@michaelpatron0 Send it to our outlet store and we can liquidate it for you on rev share.

Anyone find it strange that Amazon charges the same amount to destroy an item in FBA as they charge to remove it? Returns and return related fees are out of control. Even great quality items end up with a 3-4% return rate.