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Molson_Hart's profile
Molson Hart
Molson Hart
Molson Hart
@Molson_Hart

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Molson Hart

@Molson_Hart

CEO at http://amazon.com/viahart . CEO at http://edisonlf.com . I tweet about business, e-commerce, supply chain, health, law, & infrastructure

Austin, TX
Joined July 2015

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    1. Molson Hart‏ @Molson_Hart May 3
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      My toy company's sales were up about 12.5% 2019 vs. 2018 but total profits fell 29% (after netting out distorting expenses and other income) - 40% of our catalog had declining profitability - 42% of our catalog had declining sales - 38% had declining total profits

      6 replies 0 retweets 19 likes
      Show this thread
    2. Michael Girdley‏ @mgirdley May 3
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      Replying to @Molson_Hart

      I don’t know your industry. Are these good or bad numbers?

      1 reply 0 retweets 0 likes
    3. Molson Hart‏ @Molson_Hart May 3
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      Replying to @mgirdley

      I don't know my industry either haha. Probably bad? I'm not totally sure. I didn't check it for '17 vs '18 where profits improved. The fact that total profits fell implies it is bad I would think.

      1 reply 0 retweets 2 likes
    4. Michael Girdley‏ @mgirdley May 3
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      Replying to @Molson_Hart

      One trick I’ve used is to look at public company filings. For example, I was trying to figure out the right amount to spend on advertising for a business. Looked at what the others were spending and then said “Eff it” and 2x’ed their number! It worked but YMMV.

      1 reply 0 retweets 1 like
    5. Michael Girdley‏ @mgirdley May 3
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      Replying to @mgirdley @Molson_Hart

      The other thing is asking suppliers. Turned out they are the biggest chatty cathys. they started giving me all kinds of advice or guidance. Some of it was BS but mostly helpful.

      2 replies 0 retweets 1 like
    6. Molson Hart‏ @Molson_Hart May 3
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      Replying to @mgirdley

      I've learned quite a bit from reading 10k's but I've never seen quite this analysis done. It's super subjective. What was extremely interesting was going through the books of a bankrupt company in my industry. Too many employees. Too many skus. Too much complexity.

      1 reply 0 retweets 1 like
    7. Michael Girdley‏ @mgirdley May 3
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      Replying to @Molson_Hart

      Fair enough. Some people advocate for going to trade associations for this kind of knowledge. I found those meetings were all lying done by liars so avoided them.

      1 reply 0 retweets 1 like
      Molson Hart‏ @Molson_Hart May 3
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      Replying to @mgirdley

      The Toy Industry Association definitely leaves me with something to be desired. Our industry is super interesting: - old school retail wholesalers (RIP if no strong brand) - guys like me (under attack) - China ecommerce (attacking) - China factory (in trouble)

      3:04 PM - 3 May 2020
      • 1 Like
      • Michael Girdley
      1 reply 0 retweets 1 like
        1. New conversation
        2. Michael Girdley‏ @mgirdley May 3
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          Replying to @Molson_Hart

          America “eliminating the middleman one industry at a time” since 1776 :-)

          1 reply 0 retweets 1 like
        3. Molson Hart‏ @Molson_Hart May 3
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          Replying to @mgirdley

          Amen, I'm not complaining! If you want to get rich, you cannot expect it to be easy :)

          0 replies 0 retweets 1 like
        4. End of conversation

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