Navigating VAT, GST, and International Expansion for Amazon Sellers with Expert Kevin Sanderson

29/11/2022 50 min Temporada 1 Episodio 153
Navigating VAT, GST, and International Expansion for Amazon Sellers with Expert Kevin Sanderson

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Episode Synopsis

Kevin Sanderson is the founder of Maximizing eCommerce where he helps successful 6, 7, & 8-figure Amazon sellers expand their e-commerce sales internationally.  Kevin is also part of an elite club of two-time guests on the FiringTheMan Podcast.  For those of you wanting to know more about Kevin’s story, we encourage you to check out Episode 41 where he details his “FiringTheMan” story of leaving a cushy corporate job to pursue a life of entrepreneurship in the eCommerce space.In this episode, Kevin talks about the benefits of international expansion as well as helpful tips on how to navigate it. Let’s get started![00:01 - 9:19] Opening SegmentKevin's corporate background and how he got into e-commerceBackstory on how he helped David’s team with international expansion [09:20 - 23:47 ] Factors to consider when planning for Internation ExpansionHigh returns offer in terms of time and effortPaperwork process required for each countryKevin recommends Canada and UK in terms of efficiency[23:48 - 33: 33] Value Added Tax (VAT) and Goods and Services Tax (GST) and The MarketVAT / GST differs per country and so the process outlined for Canada is different for US or UK GST (Goods and Services Tax) in Canada refers to a federal tax Want some Amazon refunds? Check out GETIDAPromo code: FTM400Ad campaigns have come a long way allowing you to manage them well with the right strategy[34:34 - 36:21] Why Consider International Expansion?Better chance in business, a lot of people already tried and it workedLess competition in the international market hence PPC is less expensiveThere are available services to help in terms of requirements such as forms and documents per country[36:22 - 44:26] Additional Factors to Consider When Expanding InternationallyIn terms of conversation rates complexities, Kevin recommends  Payoneer for convenience or other Kevin recommends using machine listing translations, chrome translation, etc as there are many services available online to help  [31:07 - 32:19] Closing SegmentConnect with Kevin SandersonQuote/s:“I always take everything with a little bit of a grain of salt. But what I really have come to believe is that the less moving of currency the better. And how some people live a life where they will never taste victory because they're too afraid of the potential defeat.” - Kevin SandersonConnect with Kevin SandersonWebsite:   https://maximizingecommerce.com/YouTube: https://www.youtube.com/channel/UCotCLMv_rc--K6h_q_SjN6QTwitter: https://twitter.com/maxecomSend us a voice message and let us know how we can help you fire the man! Facebook, YouTube, InstagramResources MentionedGETIDAAmazon FBA Revenue CalculatorEmail us at  Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show