Welcome to River Source Logistics’ first podcast episode from our Amazon FBA series. In this podcast series, we will be bringing you tips, strategies, and what’s new with Amazon to help you grow and scale your Amazon business.
Have you ever felt like your Amazon FBA business is slowly owning you? Ever feel like there is so much going on, you’re working your butt off, but there’s no forward progress? Ever feel like your business is growing but you’re not having fun anymore?
Welcome to the club! in our first episode of the River Source Logistics podcast, we sit down with Jamie Munoz of Virtual Luxe Atelier as well as the owners of RSL and discuss how implementing the Entrepreneurial Operating System was the game-changing move for our business as well as identifying and solving the common issues that most entrepreneurs face as they are scaling up.
Topics covered are:
Vision | People | Data | Issues | Process | Traction
We meet with Jamie Munoz of Virtual Luxe Atelier on how to elevate your FBA business through various strategies including the Entrepreneurial Operating System, also known as EOS. Jamie works with companies to help them unleash their potential and support them in solving their processing issues and hurdles that might be keeping them back.
Key issues most companies face
One of the most typical issues Jamie has identified when working with companies is that they often have an unclear company vision. Oftentimes, owners and leadership personnel source new and exciting visions and inspiration that they want to incorporate but, changing tiers too often can lead to a lack of clarity in vision and confusion and usually backfires.
To avoid this issue, creating a clear vision and communicating where the company is going across the leadership and staff is key to moving forward to success.
Another issue that usually accompanies an unclear vision is lack of accountability. If your personnel doesn’t know where the company is going it will be really hard for them to know what needs to be done and how to prioritize their tasks.
The third issue often found in startups is nonexisting role structures and processes. The company personnel is wearing multiple hats and are responsible for a wide range of tasks. Such a structure usually leads to weak measurables and inefficient work.
Goals to aim for and strategies to maintain
The goal is to work smarter and not harder and a good strategy that we have identified to support us in creating a smarter work process has been introducing the EOS to our business and team.
One strategy that is important for all companies is to set roles in the company that matches the strength of the person who is intended to fill that role. Not everyone is good and everything and making sure you set the roles for your company personnel that fits their strengths will not only lead to better results but also to happier people. When you are tasked with doing something that you are good at, you will enjoy the work and your work will become rewarding.
If you want to take your business to the next level, following the 6 key components of the EOS can help you get there.
- Dial-in on your vision.
Create a vision tracker organizer. An all in one vision summary. This will be helpful when hiring people and placing them in the right seats. Identify 1 year, 3 year, and 5-year goals. - Make sure you have valuable data
You will need measurables to see if you are going in the right direction and meeting your goals. - Set up processes
Set up clear processes for your company, this is where you can gain efficiencies. - People
Set up an accountability chart and ensure that you and your team know who is doing what and who is responsible to what. - Issues
If there are issues, use the accountability chart and bring in the right people to discuss how the issue occurred, what the root cause is, and how to solve it as a team. - Traction
Having effective meetings, and to do so you need to set a clear agenda and goal, set a start and end time. Another important piece is to set rocks for departments, personnel, and, the company. Rocks are actionable 90-day tasks or goals
Make sure that all six components are implemented and used continuously to ensure that your company is meeting its goals and moving towards the success that you want.
The EOS provides so many strategies, tips, and support for you to scale and grow your business. Listen to the full podcast for more helpful tips and strategies.
Books mentioned:
Traction by Gino Wickman https://amzn.to/2ZhtsYr
The Road Less Stupid by Keith Cunningham https://amzn.to/2X9DLuZ
River Source Logistics is creating a podcast series to help Amazon sellers scale their business and we are open to suggestions for future content! Leave a comment below with any thoughts or questions you have about the episode and podcast series.