#36 Whether You Can Afford the Tools by Carlos Alvarez

Please note that the transcription below is automated and may contain errors. Please listen to the audio episode for correct text.

Hey, what’s up? This is Carlos from Bluebird Marketing Solutions and the Wizards of Amazon and my tip for you today is has to do with tools and how you decide whether you can afford that tool. I think a lot of sellers make a mistake in saying that they are paying x amount per month or they’re going to buy this tool because in reality when you look at it like that, it just seems like money going out.

And what I like to do is I like to refer to this as hiring tools and when you do that, it changes your mindset. So, let’s say that you were looking at a tool and you were saying and I pay $100 a month for this tool. I don’t know that seems like a lot. Well let’s figure that out. I would run that through my thought process, I’m hiring this tool and it forces me to actually itemize all of the things that this tool does and then I’ll go beside those things and put, okay, how much would this cost per hour? How much would this require me in time and other resources to train and create SOPs? What’s the skill set that would be required here to do this? And when I do that, I realize that in most cases of that $100 had I hired it would actually be six or seven hundred percent more on the low end if I needed to hire it and then when I look at it that way I’m like wow, you know you paying $100 a month for this tool is actually not bad at all. Because if I had to hire it it would be significantly more expensive. I hope that tip really helped it helps me do an audit all the time on the tools that I have and it’s something that I encourage my team to do anytime there in the thick of it and they want to recommend a tool to me. Before they recommended, I always ask them to run right through that filter and say approached me and say I want to hire a tool to do blank and then we have the conversation based on that. So, hope that’s it helps.