Navigate Quarter Three Ecommerce Accounting Like a Pro
As an advocate for financial literacy and someone who works specifically with ecommerce businesses, I firmly believe in the power of Profit First to transform the way you run and look at your business. With the Profit First approach, you can ensure your ecommerce business not only thrives but maximizes profitability so you can take [...]
The Road Map to Profit
Just do it. Swallow your pride, and use the GPS for directions! We all want an easy trip so we can enjoy the ride. The best way to make sure that happens is to follow a proven path. You’ll be able to prepare for obstacles that might slow you down like accidents or slow-moving traffic, […]
Feel the Rhythm of a Cash Flow Resolution
There are a lot of process and some very specific math involved in starting Profit First but, in my opinion, there is no better way to start out the new year than gaining control of your finances. So, let’s discuss two primary cycles to help you make it all work: a 10/25 rhythm each month, […]
Get Yourself Off the Inventory Hamster Wheel
I know I’ve said it before, but I’m going to say it again. I talk to tons of ecommerce entrepreneurs a year and inventory is always one of the top questions. That’s because inventory for ecommerce can be a little trickier than it is for brick-and-mortar stores. So, let’s go over how to avoid getting […]
Wade Into Profitable Waters
I recently had the opportunity to present Profit First to a group of business owners in Philadelphia. After the talk, several told me they were re-energized about trying to get Profit First working in their business. Unfortunately, their stories were ones of failed attempts. I have heard this repeatedly over the years from clients that […]
What Do You Need – Profit First or Cash Flow Forecasting?
Many times, ecommerce sellers come to us asking for help with Profit First because they’re having trouble managing money. However, after we do the Profit Assessment for their business, we find that what they actually need is help with cash flow planning. While Profit First is a great way to manage cash, it won’t help […]
Growing Your Business – Finances & Planning
Now that you’re ready to expand, you need to make sure the important things are in order. One of the most important pieces is of course finances. You also need to make a game plan so you can keep yourself on the path of growth! Finances Keeping an eye on your finances is a big […]
Make Cash Flow Less Stressful
"When talking to potential clients and ecommerce sellers, I always ask about their biggest challenge. The most common answer is Cash Flow, which is likely the same for you. However, I believe cash flow is merely a symptom of the real problem. I enjoy helping ecommerce sellers understand this. Efficiently managing cash is crucial, but [...]
Understanding The Cash Flow Waterfall in Your Ecommerce Business
“Where does my cash go?” It’s a typical question I hear many times. Along with this one—“My P&L shows I made $400,000, so why don’t I have that much in my bank account?” My favorite graph to illustrate the solution to this problem is the Cash Flow Waterfall. In the example below, we have used [...]
