The most successful Online Arbitrage sellers have systems for sourcing and shipping profitable products on a daily basis BUT they also have effective management systems to monitor, control and grow their businesses over the long term. In this article, it will show demos to 6 spreadsheets that will give you multiple ideas on how to manage every aspect of your Online Arbitrage Business!
There are many pieces to the online arbitrage puzzle that will have an impact whether you have a successful business or not. The Ultimate Guide To Starting Your Online Arbitrage Business and The Ultimate Guide To Scaling, Outsourcing, And Automating Your Online Arbitrage are two resources that will share how each pieces fit together but they both have something in common: spreadsheets. Spreadsheets within Online Arbitrage allow us to ensure the products we sell are profitable but also we can use them as a tool to grow and expand our businesses. These are the foundations that allow to to manage all our accounting but also bring in team members to manage different stages within the Online Arbitrage System.
The Online Arbitrage business model is a system. The system can be split into multiple stages allow us to manage each aspect of the system perfecting and streamlining the whole process together. Below are the 6 major system stages that can be introduced into spreadsheets:
1. Purchasing & Business Performance Overview
2. Sourcing Management
3. Pre-Purchase & Out Of Stock
4. Replenishing Management
5. Financial Management
6. Inventory Health Management
Online Arbitrage is a numbers business. Get your numbers right and you will be halfway there. Get your numbers wrong and you will not last long. Business Insider stated 82% of businesses experience cash flow problems, which rings true within Online Arbitrage which is a cash flow business. Using these spreadsheets allow you to set up the systems to ensure you are clear on your numbers.
Once you begin using the spreadsheets, you need to decide what you are using. Within this article and demos, it will show all spreadsheets using Google Sheets and below are just some of the Pro's & Con's of Google Sheets:
Lower Processing Power
Limited Custom Options
Further reading here:
Quora: The Pro's & Con's Of Google Sheets
Some people have fears of working with spreadsheets. Maybe they seem complicated with functions and formulas but fear not, this article shares full demos how everything comes together and if in need, there are so many resources that help with excel available online today E.g. Learn Excel In 30 Minutes.
The Purchasing & Business Overview Performance sheet is the most important spreadsheet you will have in your Online Arbitrage business. This is the sheet that will record everything you will need to manage your business accounting. The following information will be on your main master Purchasing & Business Overview Performance:
The Sourcing Management sheet allows you to manage your Virtual Assistant and ensure they are meeting the target you set for them. The following information will be on your Sourcing Management sheet that will share all the data you need about your Virtual assistant:
The Pre-Purchase & Out Of Stock sheet allows you to manage the stage between sourcing and purchasing. Once the Online Arbitrage operations grow too big for one assistant to purchase, you need to begin to recruit more members into your team. Click here to learn more about growing your team. The following information will be on your Pre-Purchase & Out Of Stock sheet:
The Replenishing Management sheet allows you to manage one of the most important sections of your Online Arbitrage business which is replenishment. This spreadsheet allows you to ensure you consistent grow by keeping your current inventory in stock. The following information will be on your Replenishing Management sheet:
The Financial Management sheet is all about your financial performance and therefore it is the success and failure of your business. It's a great sheet that only needs to be maintained once a week and everything you need to know about your business will be made clearer. The following information will be on your Financial Management sheet:
The Inventory Health Management sheet allows you to control the inventory age of all your products. This is a vital aspect of your business as you do not want long term storage fees from Amazon. This sheet allows you to action all the aged products prior to being charged. The following information will be on your Inventory Health Management sheet:
To summarise, you should begin taking action on looking at all the demos and creating the sheets you find useful in your own business.
To save time, already created blank templates can be purchased for only $97.
Individual Master Spreadsheet Demos
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