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On a mission to create financial freedom, Jon Drummond kicked off his entrepreneurial journey selling collectible toys online through channels like Amazon and Shopify.
Turns out, catering to the huge demand from ‘Masters of the Universe’ fans was a great call.
Diving into the e-commerce world headfirst, Jon’s stores quickly gained traction. Now with more than $1M in sales under his belt and an established Amazon customer base in both the US and Mexico, Jon seems to have unlocked the secret to winning in e-commerce. 🔥
But it wasn’t long after his early success that he hit a major bump in the road.
With relentless inventory challenges and shipping delays, Jon looked up one day and realized he was missing a vital resource in his business. One that was holding him back from expanding his online empire.
That resource was funding.
I was looking to expand and scale my business. The problem is, with e-commerce, you can’t just go to a bank and show them the numbers. I needed new ways to get funding for my Amazon store.”
In addition to extra capital to help fill his cash flow gaps, Jon also needed a way to track his store’s key metrics and ensure his business decisions were always on the money.
But the banks weren’t willing to help and Jon’s existing tools just weren’t giving him the insights needed to gain a 360-degree view of his store’s performance.
“One of the biggest problems I have as an e-commerce store owner is needing data to support what I do. I always want to be data-driven when analyzing past and new inventory.”
Jon started researching. He searched the internet high and low for a reliable funding provider, until he finally found SellersFunding.
“I did a lot of research and I loved the way that SellersFunding had another component to the funding, which allowed me to see my profit and losses. Now I have a datasheet that I can use to compare weeks and months and show my growth. It makes it easier because it’s connected to the marketplace so you know what’s going on.”
The perks of partnering with SellersFunding kept getting better.
Once onboard, Jon used the razor-sharp monitoring and analytics insights from his Sellers Signals dashboard to keep his finger on the pulse of how his store was performing.
“I wanted a funding provider that understands the e-commerce market. Signals gave me numbers I had never seen before, with fast comparisons which allowed me to pinpoint certain recurrences and data. The biggest ones were margins and the rate of returns. I was able to use these to dive into my inventory and different price points and scale to another level.”
For him, gross sales and net sales percentage are the two most important KPIs for scaling his business
“Every day, I’m looking at a net sales percentage of 54% or better. I’m a stickler for that. If I can average 50% net sales on all my inventory, you’re gonna see me on the Forbes list,” he laughs.
One month, Jon logged into Sellers Signals and realized he had beat this goal and reached 60% net sales percentage. It was eye-opening to say the least.
“I pushed that number from 30% to 54%, which is amazing.”
A new world of insights opened to Jon once he started using Signals. He now has easy access to mission-critical KPIs from core business areas like:
Profitability
Sellers’ fees
Gross sales
Net sales
Sales forecasts
Business valuation
“Everything I need to know is in Signals. The percentages in Signals gave me an idea of how good or bad I was doing. I used Signals as a good predictor of what is going to happen going forwards. I haven’t seen a tool like this anywhere. You can add how the flexible payment options makes Sellersfunding payments easier to implement in any business. ”
Since learning how to supercharge his business with Signals, Jon’s been hitting home run after home run with his store.
He can now set and track the right KPIs for his business and sharing the numbers that prove his brand’s progress has become a simple ‘copy and paste’ job.
“If I need to explain my business, everything I need is right here. I literally just copy and paste it and put it into paragraph form like, ‘Hey, this is how we’re doing quarterly.’”
But the best part?
As Jon continues to scale, he knows he can rely on SellersFunding to get the capital and data insights needed to exceed his targets and reach new heights.
“My business valuation numbers have been looking great. It gives me all the confidence I need because I know I’m doing a good job. I base my efforts on Signals.”
Whether you’re looking for a capital injection to stay on top of inventory and grow your store or just need reliable data to stay on track, you’re in the right place.
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