ManageByStats This Week – Issue 1916
This week we announce the release of a cool new feature in your MBS:
Now, in addition to adding product costs and inbound shipping, you can also add general company expenses and associate them to brands and products. Check out the Tips & New Stuff section this week for more.
TIPS & NEW STUFF
While ManageByStats is not an accounting program, we do provide as much information as possible to help you to manage your business.
A big part of knowing the health of your business is knowing your Profit, and many things can go into that.
COGS (Cost of Goods Sold) and Inbound Shipping are two of the most vital bits of info used to determine profitability, but there can be other, company expenses not covered by direct product costs, which, if factored against sales, allow you to more accurately determine profitability.
Now you can. Additional Expenses is here, and with this new tool you have the ability to set these values and let MBS use them to adjust your Profit.
Under Statistics > Additional Expenses use the “+” sign to add an expense.
You’re presented with the New Additional Cost screen.
Here you can add a cost, set a date range across which the Cost will apply, make a Note as to what the Expense was, and select how it should be split.
The Split determines how the Cost will be applied when calculating Profit.
By Quantity Sold: splits the Cost equally according to Quantity Sold across the selected items.
By Sales Revenue: splits the Cost equally according to Sales Revenue across the selected items.
By Brand: splits the Cost equally across the selected Brands.
By Product: splits the Cost equally across the selected Products.
The SKU selector works as in all other areas of MBS. Click to expand Brands, Product Lines and Products. Use the Filter Tags option to filter by any assigned tags. Select and add the desired items to Selected Items.
These are the items to which the Cost will be applied.
Note: If no items are selected, the Cost will be applied to the entire account.
Once done, click Add to add that expense.
It will then show in your list of Additional Expenses, and will be calculated using the specified criteria on the Settled Transactions page in the Additional Expense column:
To view the new Additional Expense column, select it to SHOW using the gear wheel drop down in the top right of the stats page:
Again, this is not intended for accounting purposes, but can a very valuable gauge of profitability when factoring in additional expenses.
The new Additional Expenses feature also made the news …
When creating your ecommerce storefront, it’s important to think about how your customers will be interacting with it. Enter UX (User eXperience). As the name suggests, it’s all about thinking of the user’s experience with your site.
Here’s some simple strategies anyone can use to improve the customer experience …
THE WORLD OF AMAZON
Amazon’s Ongoing Reviews Problem
While Amazon has taken steps to reduce fake reviews and, a more important outcome, raise the confidence of buyers in the authenticity of reviews, bad actors continue to look for ways to game the system.
Here’s an inside investigator’s feedback on these ongoing schemes …
This week, for fun, we thought we’d share a special interest story on the birthplace of Amazon — with a few pics you’ll probably be amused to see.
As we know Amazon started in a garage. That property recently sold, and here’s a little write-up with some fun pictures to put everything in perspective …
June 21-23, 2019
SellerCon is the event of the year for Amazon sellers. Join thousands of your peers in Las Vegas, Nevada to discover what’s working now on Amazon, what’s changed, and how to build a thriving global brand.
Click the SELLERCON logo to sign up.
PROMO CODE: SELLER20
June 25-28, 2019
IRCE Chicago begins two days after SellerCon, so there’s time to do a little state-hopping and head there from Vegas after SellerCon ends.
Click the IRCE logo to sign up.
Promo Code: EXIV838375
May 16-18, 2019
Empowery members have access to a network of successful business owners on whose expertise they can rely on to help them over business-related speed bumps. In return, your knowledge and experience add valuable authority to the group.
They’re having a 3-day Inaugural Summit in Seattle this May, the 16th thru the 18th.
Click the Empowery logo to sign up.
General Admission: MBS20GA
VIP Admission: VIPMBS20
Two old friends have both lived long, happy lives. When it’s clear Joe is dying, Mike visits him every day.
One day Mike says, “Joe, we both loved football all our lives, and we played football on Saturdays together for so many years. Please do me one favor, when you get to Heaven, somehow you must let me know if there’s football there.”
Joe says, “If it’s at all possible, I’ll do this favor for you.”
Shortly after that, Joe passes on.
At midnight a couple of nights later, Mike is awakened from a sound sleep by a blinding flash of white light and a voice calling out to him.
“Who is it?!” asks Mike, sitting up suddenly. “Who is it?”
“Mike … it’s me, Joe.”
“Joe! Where are you?”
“In heaven,” replies the voice. “I have some really good news, and a little bad news.”
“Tell me the good news first,” says Mike.
“The good news,” says the voice, “is that there’s football in heaven. Better yet, all of our old friends who died before us are here too. Better than that, we’re all young again. Better still, it’s always springtime and it never rains or snows. And best of all, we can play football all we want, and we never get tired.”
“That’s fantastic,” says Mike. “It’s beyond my wildest dreams! So what’s the bad news?”
“You’re on the team for this Saturday’s match!”
QUOTE OF THE WEEK
“Fear does not prevent death, it prevents life.”
– Naguib Mahfouz
To your success,
Your ManageByStats Team
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