Scaling Your Business Successfully and Intelligently

Almost every business owner dreams of scaling their company, turning it from a small operation into a multinational corporation. Yoni Mazor, Co-Founder and CGO of GETIDA, actually managed to do it, creating the largest organization in the world dedicated to Amazon FBA auditing with more than 180 employees in 7 countries.

In this episode of Let’s Talk Business, Meny and Yoni have a candid discussion about when it’s time to scale a business, what types of investors you should consider, the importance of creating a company culture that will survive your future growth and more. Yoni also offers some practical tips for Amazon sellers on how to increase their profit margins and get back money that you may have assumed was gone forever. It’s a great conversation that might just change the way you understand scaling, so don’t miss it!

Yoni began developing GETIDA after successfully founding and operating a $20 million yearly Amazon FBA business, selling fashion brands internationally. GETIDA specializes in Amazon discrepancy analytics and consulting. By utilizing data visibility technology, GETIDA focuses on discovering and managing financial and inventory-related discrepancies with tens of billions of daily transactions.

Transcript

[00:01 – 12:50] Opening Segment

• How GETIDA has scaled into the largest organization dedicated to Amazon FBA auditing

• How the landscape of the Amazon space has changed drastically over the last 20 years

• The challenges facing Amazon sellers in the age of increased competition

• Sellers have to be good at all aspects of their business to succeed

[12:51 – 24:52] Maximizing Amazon FBA Reimbursements and Refunds with GETIDA

• Amazon provides reimbursement or refund for losses incurred in shipping, storage, and returns

• Sellers have to bear the responsibility of reconciling discrepancies

• GETIDA’s mission is to help sellers get maximum FBA reimbursements and refunds

How it is achieving rapid expansion and maintaining its culture

[24:53 – 36:35] The Story of Successful Bootstrapping and Private Equity Investment

• Good people with honesty and humility are vital to growing a successful company

• People are the foundation of every major empire, politically, business-wise, or financially

• Staying focused on one niche instead of becoming a jack-of-all-trades master of none

• How to leverage strategic investment and smart money for long-term success

[36:36 – 43:58] Closing Segment

• Amazon sellers should reconcile shipments to ensure they receive the retail value and make a profit

• Yoni’s secret weapon for success

• Yoni on the rapid four questions

Practical Pointers

If you’re an Amazon seller, you can reconcile the shipment by visiting Amazon Seller Central, then go to inventory, then to “manage shipments,” and check if everything you shipped is accounted for. If not, you can ask them to research it there - and you’ll either find the unsold item which you can now sell, or get a refund. Either way, you’ll make money that you would have otherwise lost.

If you never bother reconciling the shipment, you lose twice: first, your investment; and second, the profit you would have made. But if you do reconcile the shipment, Amazon will pay you the retail value - so you’ll not only recover your investment, but also make the profit that you would otherwise lose.

When thinking about attracting outside investors, remember that building a culture from within has real value. So if you have structure and financial stability, try to stay independent for as long as you can.

When you do decide to scale and bring in outside investors, choose investors whose goals align with your own and whose company goals are compatible with what you’re trying to accomplish. Only when your mission and culture resemble each other, can you achieve more together than apart.

Show notes

Website Facebook Instagram LinkedIn

Guest Bio

Yoni Mazor

Yoni is the CGO & Co-Founder of GETIDA. Yoni began developing GETIDA after successfully founding and operating a $20 million yearly Amazon FBA business, selling fashion brands internationally.

GETIDA specializes in Amazon discrepancy analytics and consulting. By utilizing data visibility technology, GETIDA focuses on discovering and managing financial and inventory-related discrepancies with tens of billions of dollars of transactions managed daily.

Since 2015 GETIDA has scaled into the largest organization in the world dedicated to Amazon FBA auditing with more than 180 employees in 7 countries and is backed up by a strategic investment by the Private Equity firm O2 Investment Partners.

Yoni frequently appears in media outlets such as Forbes, CBS, ABC, Fox, MSN, and INC to provide insights about the state of Amazon, global logistics, inflation, consumer behavior, and the economy. He also comes with military intelligence experience, having served in the IDF Special Navy Intelligence.

Share this episode with friends: