The key thing I've learned in business over the past 7 years is that winning big is all about the fundamentals.
Businesses with strong fundamentals survive. They stand the test of time and experience exponential growth.
Businesses with weak fundamentals do not. They last a couple of years at the most.
That's how it works.
And that's good.
This is survival of the fittest. This weeds out the folks that are short-sighted and out for a quick buck.
Being fit in business means being a good business person. It means being great at the things that never change.
The core reason start-ups fail is that they focus on shortcuts and gimmicks.
Here is a list of some common "gimmicks":
- Chat bots
- PPC software
- Product opportunity tools
- Product giveaways
- Product rebates
- Launch services
- Facebook groups
- Instagram influencers
- Black hat strategies
Now don't get me wrong... these things CAN produce good results. But usually that’s short-lived.
And these things are NOT the reason why a business is successful. They do NOT make you successful.
Here is a list of some fundamentals that do make you successful:
- Product strategy and differentiation
- High quality products
- Good reviews
- Cost efficiency
- Accelerated cash flow
- Inventory control
- Smart systems
- Leveraged business model
- Data and measurement
- The scientific method
- Paid advertising
- Keyword research and listing optimization
- Talented team members
- Company culture
- Smooth operations and solid management
- Innovative and customized products
The stronger these things become - the greater your competitive advantage becomes. This means a business that succeeds in the long-run.
To Strong Fundamentals!
p.s. when it comes to the fundamentals of an Amazon private label business, I'm the best in the world at it.
Because this is what I've focused on for 7 years straight.
If you need help with the things no-one is helping you with... and you want to build your business on proven fundamentals instead of gimmicks... then why not schedule a free consultation to speak with us and see if me and my team can help :-)