Video Details
How to Master Payment Terms #entreprenuer #businessadvice #entrepreneurshiptips #businessowner
GB
Mike Stewart
25 subscribers
53 Videos
18.5K Total Views
- Video ID
- V_RG4PU6Wm0
- View Count
- 266
- Video Duration
- 0:00:48
- Published At
- 2023-04-25 18:33:37 2y 6mo 9d ago
- Video Description
- When it comes to payment terms, it's all about what you can agree on with your supplier. We've been working with ours for quite some time now, so we've got good payment terms with them. But on your first order, you might have to pay more upfront. Now, here's the thing… By the time your order lands, you're already about five grand down. And that's not all. You still need to launch your product and get reviews and rankings. And let me tell you, that can cost some serious cash. It won’t always cost this much, but for example your product is $30 and you need 30 reviews. You might have to give away your product 30 times and ask for a review, which is technically against Amazon's policy, so be careful with that. Then there's the matter of getting your product ranked, which can also be a pricey process. All in all, you're looking at another two grand on top of your initial investment. So if you're not prepared to invest some serious cash into your Amazon business, you might want to think twice before getting started. #entrepreneurmindset #businessdecisions #entreprenuer #businessadvice #entrepreneurshiptips #businessowner
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