Announcing the new Profitability Page
What are your Margins?
Every time you see someone post their Amazon sales numbers somewhere, someone immediately asks “what are your margins?” That makes sense because your Gross Sales could be $2 million while you are barely breaking even or even losing money.
Healthy margins help you grow, faster. Until now it took a bunch of spreadsheet twiddling to get a firm handle on that… the new Profitability page aims to make this much easier.
First off, we take the last 30 days worth of sales and tell you immediately the average selling price (including any promos) for each product, along with the average profit per unit.
(If you have entered COGS data for each SKU, the profit column will be much more accurate… but even without that, this page will give you a good sense of the relative importance of each product to your bottom line.)
Margin is one of the key factors in the health of a product. If you have slim margins (less than 20%, say) you have little room to offer occasional sales or promos, and you end up having to sell almost all of your inventory before you have enough cash to place the next order.
Portion of Total Profits
At a glance, you immediately see which products are driving your business and which should perhaps be dropped. (We order this page by portion of profits by default; you can change this to your generally preferred order with the link just above the table of your products.)
You probably have a general sense of this already based on the Morning emails you’ve been receiving… but in my case I know I was shocked to see that a couple of my products were actually producing less than 1% of my profits. Yikes!
Besides giving you the numbers for each SKU, we of course total everything up at the top of the screen.
The “this month so far” widget, on the left, is a fun place to check periodically, to watch it build over time.
The “last month” widget is great for sharing a screen-shot with your Mastermind group or whatever Facebook groups you use to discuss selling on Amazon. You can show off your profits (we also put gross sales on there; as sometimes those numbers are big and fun) without giving away anything about your actual products.
The yearly rollup, on the right, is great for tracking your progress on building the business of your dreams.
We put in a profit goal of $75,000 to start things off… but just click on that number to make it reflect where you actually want to go with this business… and we’ll graph your progress in getting there.
(Man, I can’t wait to fill up that graph!!!)
How do I access this?
Good point. You should see a new menu item in the drop-down menu in the top left.
Or, even easier, you can just click anywhere within the yellow “profitability” widget on the Dashboard (homage page).
We hope you find this page useful, and welcome your feedback on ways to make it even better.
Sharing screen-shots of the Profit widgets will also expose AmDash to more people; and more subscribers will help us to develop features for you faster.
Remember also that we have a referral program… for every person you introduce to AmDash that ends up subscribing, you get $2 off per month for the life of their account! You could end up paying nothing while helping us grow — which again helps us make AmDash even better for you.