E621: 5 Tariff Strategies My Company is Taking

Dave talks about how the tariffs have impacted his business personally and how he plans to address these challenges. He talks about how you can save your profit margins by manufacturing locally or manufacturing in house (at least by experimenting), and expanding to other marketplaces or countries to save some of that profit margin. Today's episode is sponsored by Sellerboard. Sellerboard helps users track sales, refunds and fees in real time, and even counts your indirect expenses in final profit. Beyond analytics, Sellerboard also streamlines operations with smart portfolios for PPC, inventory forecasting & management and more! Try Sellerboard free for 2 months — no credit card required. Just go to sellerboard.com/ecomcrew and get clarity on your margins today. Tariffs have been a significant cost for Amazon businesses, which have ultimately eaten away at profit margins.  Timestamps 00:00 - Navigating Tariffs: An Overview 02:50 - Five-Step Strategy for Local Manufacturing 05:52 - Identifying Products for Local Production 08:54 - Leveraging Technology for Efficient Manufacturing 11:47 - Exploring Chemical Products and Local Manufacturing 14:46 - Advantages of Local Manufacturing in E-commerce 16:52 - Diversifying Markets Beyond the US 21:11 - Strategies for Higher Margins and Payment Terms 24:48 - Navigating Tariffs and Legal Considerations As always, if you have any questions or anything that you need help with, leave a comment down below if you're interested. Don't forget to leave us a review on iTunes if you enjoy our content. Thanks for listening! Until next time, happy selling!