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Dr. P.Kumar's SECRETS to UNLOCKING PROFITS in Struggling E-Commerce Businesses
Manage episode 384284487 series 3510678
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Dr. Pradeep Kumar, a former war refugee turned award-winning scientist and entrepreneur, shares his insights on analyzing distressed Amazon and e-commerce businesses. He emphasizes the importance of separating ego from identity and highlights four key areas that often lead to business distress: human resource management, poor supplier relationships, logistics issues, and inventory mismanagement.
Dr. Kumar's scientific background helps him approach these problems with a hypothesis-driven mindset, allowing him to ask critical questions and analyze data to find solutions. He advises aspiring entrepreneurs to view business as a numbers game, take risks, and focus on consistent performance throughout the year.
Topics & Timestamps:
00:07 Introduction to guest and topic of distressed Amazon businesses
02:07 Pivotal moments in guest's life and career
05:34 Importance of separating ego and identity in business
07:37 Difficulty for Amazon sellers in separating their identity from their business
09:23 Four areas where sellers lose their way in distressed businesses
10:47 Lack of clear mission and vision hurting companies
11:21 Balancing brand vision and mission with making money
11:48 Four areas identified as key factors in declining businesses
14:08 Response from distressed companies is positive and impressed with questions
18:51 Scientific background helps in analyzing businesses and asking critical questions
19:54 Hypothesis-driven questions help identify problems and analyze data
21:41 Example of HR spend analysis and conclusions
24:14 Using hypothesis, data, and conclusion as a decision-making tool
25:11 Specific questions needed to answer doubts and hypotheses.
26:48 Some companies lose focus on profit and loss statements.
27:11 Ambitious companies can lose sight of important details.
28:04 Life is a numbers game, risk game, and sales game.
28:59 Q4 numbers should be approached with caution.
29:42 Overstocking and bulk saving may not be the best approach.
30:03 Closing remarks and thank you.
Connect with our guests:
Linkedin: https://www.linkedin.com/in/pksacitharan/
Youtube: https://www.youtube.com/channel/UC9UW7wJGkOrYmbBCU3jCMbg
Facebook: https://www.facebook.com/pradeep.sacitharan
Instagram: https://www.instagram.com/pksacitharan/
Twitter: https://twitter.com/PKSacitharan
Connect with our host:
Ian on LinkedIn - https://www.linkedin.com/in/iankaneshiro/
Stay connected with Seller Snap:
Website: https://www.sellersnap.io/
LinkedIn - https://www.linkedin.com/company/seller-snap-inc./
Instagram - https://www.instagram.com/sellersnap.io/
Facebook- https://www.facebook.com/sellersnap.io/
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