Many business owners, including those in ecommerce, often ask themselves, “Can I afford to hire someone?” It’s a challenging question, especially in the cash flow and inventory-driven ecommerce industry, where seasonal fluctuations can create a balancing act. This can lead to operating in debt and irregular paydays. However, the Profit First methodology provides solid information […]
By now, if you’ve read anything I’ve written, you know that I am passionate about Profit First. I use it in my business and I even wrote my own book about it, Profit First for Ecommerce Sellers. However, as an Amazon Accountant there are times when Profit First is not the answer. If you are […]
Many businesses experience fluctuations in sales, with highs and lows that can be particularly challenging for ecommerce sellers. Surviving lean times, planning inventory, and managing operating expenses require careful consideration. The process can be overwhelming and stressful. That’s why having a solid cash strategy year-round is crucial. To navigate the ups and downs, three elements […]
The transition to Profit First can seem like a big adjustment when you’re paying down debt. Often, clients are so motivated as they start cutting costs that they apply all those savings to reducing debt. They are so excited about the progress that they bypass the profit account and apply all extra monies towards […]
Why is the Profit First method becoming more and more popular among ecommerce sellers? Because it works! I hear it over and over from clients and other online sellers; once they’ve implemented Profit First as their way of managing their operations, their businesses have grown, their profits have increased and their stress has decreased…considerably!
Cyndi Thomason, author of Profit First for Ecommerce Sellers and President of bookskeep talks Profit First methodology with Andrew Youderian and eCommerce Fuel.
At bookskeep, we frequently get asked what is the best bank to utilize for Profit First?
As Q4 approaches, Amazon sellers are gearing up for the holiday shopping season. Taking proactive steps now can help you retain more earnings during this busy time. Alongside inventory buying, it’s essential to focus on streamlining your business operations. Start by analyzing your monthly operating expenses to get a clear understanding of them. Additionally, consider […]
Are you having cash flow issues? Do you come up short of cash when you reorder inventory? It’s human nature to look at our bank balance and make a judgement about our financial health. When you use a single checking account for all your business expenses, the funds you are counting on to replenish your inventory are mingled with all […]
