Where Am I with my $2,000,000 Goal? (January Month-End Numbers)
By Gaye Lisby – March 4, 2022
Gaye Lisby here.
I ran the numbers on our January month and I thought I’d share them with you. My goal is to reach $2,000,000 for this year. Now, I want to show you where I am with that goal right now and how I’m going to reach it.
January 1 to January 31, 2022 Numbers
From January one to January 31st, 2022, the numbers that you’re gonna see here are representative of our 1.4 to 1.5.
Currently, my business is on track to easily do 1.5 by another month from now.
Our goal for 2022 is $2 million in revenue. I work hard on our profit margins because I want them to go up. After all, that is the goal and dream of many Amazon sellers.
Today, let’s just go through some of the numbers here. I think it’s going help you as you’re building your Amazon account, or if you haven’t started selling on Amazon. It can help you grow your level of faith and your ability to do this.
I always say that if a menopausal grandma like me from Branson, Missouri can do this, then anybody can. It just takes some time, effort, and knowing your numbers. With the help of our head coach and Amazon seller tribe, you too can fast track your growth.
Garry Ray, that does the coaching program and he has done a magnificent job in helping people to know their numbers.
The above image shows the inside of my inventory lab account. As you can see, the picture shows my numbers from January 1 to January 31st, 2022
I’ve removed the supplier column because I don’t want you to see that and,get off track because you think there’s something magical about it. But for transparency, we have 197 suppliers that we were doing business with that provided the opportunity for us to sell these units.
As you can see at the very bottom, we have sold 2,385 units and 382 units were refunded. This might bother some people because the might think that something that getting a refund means they’re doing something wrong, or product oesn’t work well.
If that were the case, every single retail, brick and mortar in the universe would be out of business. Getting refunds are just a normal part of doing business.
What does this mean when it's refunded?
“What does it mean when a product is refunded?”
I’ve been getting this question a lot. Here’s my answer to this.
When a unit is refunded, Amazon gives takes care of the refunds for us. That’s part of the fulfillment by the Amazon program.
When this happens, the inventory ends up being sent back to Amazon’s warehouse and is put back into our active inventory. This happens when there is nothing wrong with the item. It goes right back out to be sold again on another month or another day to another customer.
Now, if the item were damaged or used, it would go into the unsellable inventory. Then, we would pull it back at some point from our account. Afterwards, we would check to see if it could be sold as used on eBay or other platforms. Otherwise, we will donate it to our missions projects and take it as a tax write-off.
Now, let’s go over to my net profit. As you can see, I just made over 112,000 in sales and over 17,000 in profit.
Now, once again, this is net profit. This is the profit that goes straight to our pockets after all of the expenses were deducted. According to Garry Ray, knowing these numbers will helps us with finding out on how to take care of our expenses. So this is not a pie in the sky profit. This is real profit.
Now,, let’s check the profit column. There’s a time where if it’s an old inventory, if, meaning that newer models of the item had come out or something like that in the price on the older models, then the price changes. It might start to tank.
So, if you see something like that, then the price we’ve put in will change so we can sell it at break-even or a little bit of loss.
As you can see in the profit margin above, you can see some losses taking place here. If you’re, a negative person, you’re gonna focus on these losses and say, “Well, I can’t do it without losses, I’m not gonna do it at all.”
Once again, every brick and mortar retail in the universe needs to close up their shop because no one does it without losses. That’s just the nature of business.
One of the things that I think it’s fun to see is when you make great profits that covers up for some of those losses. As a matter of fact, people will look at these numbers incorrectly and they make assumptions that are not true.
On January, our profit was $17,215 and 68 cents. We sold 169 units at a loss. Some of them were refunded 2,385 units sold.
Now, let’s run some numbers. Our average order price was $60.79. Our average profit per sale is $13.13 cents.
We were really aggressive at turning our inventory and we make sure that we keep it turning as Garry has taught us over and over again, money in motion. Because that is where you end up making your money.
If you take the revenue and profit numbers and divide it with 17,000, it gives a 15% net profit.
So in January, which is normally kind of not-so-great month for some sellers, we still did very well. We were able to get a 15% net profit and still turning our inventory very we
What does this data tells us?
One of the things I want to encourage you with is that even if you look at these numbers, do not disqualify yourself. If you’re not careful, you’ll do one of two things:
“You’ll say, wow, you know, she needs to add some zeros on there.”
“She’s nowhere near where I am.”
Well, I do hope that you are on the latter one because I want you to be more profitably than I ever hoped or dreamed.
My Day-To-Day Routine
Now, with the numbers that I’ve shown you, I want to tell you that I’m not doing everything here in my business.
In fact, there are times when I don’t do anything at all. And the simple explanation to this is because I hire people to do the shipping and inventory for me. I get people to work with me and let them do almost all of the backend process while I focus on ways on how I can create better strategies for my business.
I have never shipped or prep a product. I don’t actively do those things myself. This is the kind of freedom that I’ve created by venturing into the world of Amazon.
If you want to experience the same kind of success and build your 6 to 7-figure business at the comfort of your home, or anywhere in the world, then I urge you to join the Amazon Seller Tribe today to start learning the things that worked for my business.
Like I always say to all new members, if someone like me could do it, so can you. By joining this amazing group, you’ll get access to all the lessons that will help you jumpstart your Amazon business. PLUS, you’ll learn the strategies and secrets that many 7-figure Amazon Seller use to build their own empire.
The best thing about this amazing group is that even the best Amazon Seller members aren’t afraid to share their knowledge with you. So, if you’re ready to join today, just click the link below.