Monday, January 3, 2011

Peer reviews in a 4 month old, 3 person startup?

Even though Adku is only 4 months old, part of our company culture involves doing periodic NxN peer reviews. Everyone reviews everyone else and provides hard, candid feedback on strengths and weaknesses. But are peer reviews necessary for a 3 person startup that's only 4 months old you ask? Yes, it's critical, and I'll tell you why.

Company culture is very hard to change

Company culture is one of those things you need to engrain as early as you can. What you do in the beginning months of your startup will permeate through it's entire life and it's very hard to change. That's why we decided to have regular retrospective meetings to improve how we work, that's why we work on puzzles together every week, and that's why we take trips together and drink together.

Conflict resolution is critical to company success

The most common reason for company dissolution in the early stages is some kind of personal conflict. If the early team can not discuss issues like product direction options or annoying work habits openly and resolve them, then they are doomed to fail. I've seen this time and again. Peer reviews help make sure issues get raised, discussed, and resolved.

Deep insight into team strengths will help shape team responsibilities

Typically, engineering teams inside companies have managers. This is because managers add value. Don't get me wrong, there are certainly managers out there who decrease value, but in general, they exist because they can assign responsibilities intelligently and make adjustments based on team dynamics and individual strengths. Without a manager, the founding team has to do this collaboratively. Peer reviews are essential to make this happen.

Each individual's personal growth creates shareholder value

The output you create at your company today may be worth $500,000/year. If peer reviews end up making you more productive resulting in an increased output worth $600,000/year, then you've just increased the value of the company. To be fair, chances are you will also get a raise, but it won't be equal to your increase in output. This is because you yourself do not actually produce $600,000/year. You are leveraged by the rest of the company. An engineer at Google may output $10,000,000/year, but may only output $100,000/year at Microsoft for equivalent work.

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    ReplyDelete
  69. Marketplace Pulse: Some sellers sell the same products as you. Marketplace Pulse helps you to find them and their sources. This method can help you to reduce research time.
    All these basic methods still apply, but it is noticeable, and you should consider that efficiency and time are against you on using the above methods. A lot of data is out there. Softwares help you analyze the data about your products better and faster, so you will reach the leads sooner than your competitors.

    With the right arbitrage tools or software, you will be able:

    Setting an alert for a specific price to find leads passively
    Gathering data to find out to estimate sales velocity and profitability
    A massive selection of data can store, filter, and refine

    Pulling a huge amount of data from hundreds of resources and stores in a blink of an eye
    Find more online arbitrage opportunities in the shorter time
    Help you to open fewer tabs and avoid wasting your time
    https://en.mehrnews.com/news/179265/How-to-start-making-money-with-online-Arbitrage

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  70. Omnichannel Fulfillment
    You can sell to targeted customers with Amazon FBA, and also you will have access to new multi-channel fulfillment solutions.
    Extra Storage Space
    Generally, you don’t have too much space or the warehouse to store your inventory. You will have access to unlimited storage space worldwide with the Fulfillment by Amazon program for a bit of cost.
    Quick Delivery
    Amazon FBA will give the product the Prime Badge. The goods will be allowed for Prime free shipping and shipping times. So, you don’t need to pay an extra fee because it is included in the FBA service.
    Cons of FBA:
    Requirements of Product Prep
    There is a specific list of requirements for the products sent to Amazon’s warehouse and fulfilled by FBA. When you prepare your products, you must ensure that they comply with these requirements, from packaging to proper labeling. You should also follow the inventory warehousing guidelines.

    More Returns
    Sometimes, sellers frequently encounter return items. It seems it is because of the open policy of Amazon. Amazon arranges it in such a way that you will directly receive the returns.
    Cost
    As you are starting an Amazon FBA business, money is an essential factor. Although FBA is very handy, it is costly. The money that the sellers don’t need to spend at first, especially for low-cost items. Fees are calculated for these items differently, so you should be selective about your products.
    How to Start an Amazon FBA Business with Little Money?

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  71. Google Shopping
    The online store owners can promote their products using the power of Google. They can upload their products on Google Merchant Center (GMC) and use Google to represent their items to the customers.
    Walmart
    Walmart is one of the most famous markets both on the internet and in real life. Many opportunists are found on Walmart. This market can be used as a selling platform too.
    Bonanza
    Many customers have recommended Bonanza. It has comprehensive and unique features to know the potential shoppers.
    Facebook Marketplace
    Facebook is known very well as a social media. But it is using this power and offering a buying and selling service. Facebook Marketplace is designed to sell & buy used items in the same community. A seller can post the items for sale. Anyone looking in his area can find the item and message the seller if they want to buy it.
    What Is Online Arbitrage?

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  72. Amazon works with third-party sellers, but in 2020, nearly half of all Amazon sales came from third-party sellers and not Amazon directly.
    It can make selling on Amazon much more straightforward, bring you Prime benefits, and increase the chance of winning Buy Box. But Amazon FBA business isn't a free service. It would help if you balanced between what you gain from this business and what you pay. In addition, Amazon's labeling policy is strict, and every item should have individual labels to be sent to Amazon warehouses.

    How to Find Profitable Deals?

    The critical parameter to boost Amazon's online arbitrage business is finding profitable deals. Some sellers used to surf the web to find good deals on famous online stores. Another group uses analyzing and scraping tools to look for low price, high-demand items. The previous methods are time-consuming and can't meet busy sellers' demands. Sellers who are scaling their business need to focus on managing aspects and improving knowledge and strategy. So they can either hire a team of virtual assistants or purchase profitable leads from experienced companies.
    It would be best to find great deals before starting your business on Amazon or other marketplaces. It's crucial to choose profitable items, so the sellers use analyzing tools alongside various methods to increase their sales and have a successful business.
    https://www.tehrantimes.com/news/467077/Best-Ways-to-Make-Money-from-Amazon

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