Q2 Plan for Success in Q4 on Amazon
by Liz Fickenscher, on April 11, 2017
Quarter 4 may be months away, but there are plenty of things you can do in Quarter 2 to set your Amazon business up for a successful fourth quarter. Check out this round table discussion featuring CJ Rosenbaum of Amazon Sellers’ Lawyer, Jennifer Dunn of TaxJar and Philippe Pierre-Antoine of Savage Sellers for actions you can take now to make sure you’re ready for Q4. This discussion includes:
- strategies to minimize risk for suspension
- ways to maximize protection of your intellectual property
- how to plan ahead for sales tax
- tips for collecting taxes properly
- creating a seller plan for Q4
- strategies for getting a brand ungated
Here is the recap:
This post is accurate as of the date of publication. Some features and information may have changed due to product updates or Amazon policy changes.
Q2 Tips for a More Profitable Q4
Amazonsellers know that the fourth quarter is often a great moneymaking opportunity. Since it also tends to be a very busy time of year, it’s a good idea to plan ahead.
I recently hosted a round table on the subject of preparing for Q4 during Q2 with CJ Rosenbaum of Amazon Sellers’ Lawyer, Jennifer Dunn of TaxJar and Philippe Pierre-Antoine of Savage Sellers. In this post, I’ll share some highlights from our conversation.
Protect Your Products
Preventing account suspensions is one of the best ways to protect your Amazon business now and prepare for a successful fourth quarter. CJ Rosenbaum shared several tips for keeping your account healthy. If you’re sourcing products, keep clear invoices that include SKUs, sizes and other details that you may need in the future. This information is crucial in the event of an account suspension. Watch your account closely and take care of any issues as they arise to prevent an account suspension that may affect your fourth quarter earnings.
Rosenbaum also recommended that sellers take the time to ensure that their intellectual property is protected to help prevent hijackers and other issues that could take months to unravel.
Use Q2 to Avoid Unexpected Tax Issues
Sales tax rates and laws vary from state to state. Jennifer Dunn shared several examples of how complex sales tax issues can become for Amazon merchants. “What do you want to be doing in Q4?” she asked. “You don’t want to be dealing with some unexpected tax issue. So you need to prepare now for sales tax. You need to collect sales tax properly. You also need to be sure you are collecting sales tax on all sales channels, such as both Amazon and eBay.”
Dunn reviewed sales tax fundamentals and discussed what else can be done now to prepare for Q4. To get her perspective, be sure to watch the webinar!
Prepare for Growth
Savage Sellers co-founder Philippe Pierre-Antoine has a growth mindset. “I’ve been an Amazon FBA seller for five-plus years. I’ve seen the peaks and valleys. Amazon sellers are selling more and more year to year. I’m going to make a bold prediction – Q4 2017 is going to be Amazon’s largest Q4 so far. Every year Amazon eclipses their Q4, and this year is going to be no different.”
He recommends focusing on Q2 as a prepping quarter. Many customers receive gift cards for the holidays during Q4, so niches that are gift heavy often see a significant increase in sales. The second quarter is a great time to strategize for these sales. Pierre-Antoine also recommends setting up a seller supply schedule for Q4 during this time.