At Amazon and ecommerce events, the topic of leaving the “day job” often arises. Many entrepreneurs aspire to make this leap, while others who have already done so wonder if it was the right decision. It’s a common goal that sparks conversations and reflections among attendees.
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 […]
“My Profit & Loss report indicates profit, but where’s my money? This common question from new clients stems from a misconception held by many. While profits might seem like cash in the bank, it’s not entirely accurate. Let’s delve into this issue and explore why this misconception exists. Your Profit and Loss Statement (P&L) reveals […]
Cyndi Thomason answers questions about her attendance at SellerCon 2019 Q: What is SellerCon all about? What is the purpose behind this event?
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 […]
In a foreign country where you don’t speak the local language, simple tasks like ordering coffee or asking for directions become challenging. To ease the process and ensure effective communication, you would need a bilingual translator who can bridge the language gap between you and the locals.
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!
