As of this posting, we are about four weeks in from the time the World Health Organization (WHO) declared the Coronavirus outbreak a world-wide pandemic. Once that announcement was made, our world began changing at supersonic speed. For ecommerce business owners, and many others as well, it didn’t take long to begin to see the […]
The COVID-19 situation has impacted everyone in one way or another. Many of us are considering what to do immediately and then next after that. In other words, what’s the plan? The short answer is get good control of your cash. We’ve created a comprehensive guide as a checklist. You can access it here. Here […]
I’m looking forward to Mike Michalowicz’ new book coming out in late April entitled, Fix This Next. You may remember Mike is the author of Profit First, and he believes this book will be more impactful than Profit First. I’ve been using the diagnostic tool described in the book for the past several months […]
We are in the midst of tax season, which is always a little stressful, but having Profit First implemented in your business can ease some of that tax-time stress. Profit First is a cash management methodology that sets up any business for success. It teaches ecommerce sellers how stay afloat in troubled waters and come […]
When Kevin, owner of Northwoods Humidors, realized he was also struggling to understand his numbers and what to do with them, he started looking for someone to help. That’s when Kevin found bookskeep, and he’s had a clear understanding of his books ever since!
Quite often I’m asked to help our clients implement the Profit First method for their ecommerce business. As we search further into the assessment, we come to find what our clients often require help with is planning their daily and weekly cash flow.
Resist Temptation: Don’t Borrow from Accounts to Cover Inventory The other day, an ecommerce seller reached out to me with a question about the implementation of the Profit First method they learned from my book. They wanted to know my thoughts on borrowing funds from their Sales Tax or Profit Account to purchase inventory in […]
How many payouts should you be saving to buy your next round of inventory? When is your next payment to your wholesale supplier? That credit card payment is due soon, isn’t it? If you are having trouble finding the answers to these questions, and if you find yourself waking up nightly, wondering whether you […]
Having accurate, current data is key to knowing where you are in your operations on a daily basis. Without it, you run the risk of flying off-track, and when that happens, recovery is oftentimes lengthy and painful. We care about what results our clients get. We asked the owner of Advance Supply how our partnership has affected his business.
