With the ecommerce business market being so hot, we have seen several bookskeep clients take advantage and sell their businesses. As we worked with clients through the process, as well as talking with other business owners and exit experts who had been through the sale before, we realized that this was yet another way we […]
When Mike Michalowicz, my friend and mentor, first discussed the idea of Clockwork with me, I won’t lie and tell you I wasn’t nervous. The idea of letting some things go and allowing other people to step in and handle them felt scary. I mean, as a business owner some things can only be done […]
Like we discussed last week, I frequently hear questions about hiring, but the most common is, “How can I be sure I can afford to hire someone?” This is often a problem with entrepreneurs because no one can do it all, and your business can’t grow if things aren’t being taken care of. When your […]
When it comes time to create a team for your business, how do you go about it? How do you hire people who are going to build the business and support you and each other in the process? These are just a few of the many questions I often hear business owners have when they […]
Pay Yourself as an Ecommerce Business: One of the key objectives of owning a business is to ensure you can pay yourself. We frequently receive inquiries about when and how much you can pay yourself. Thankfully, Profit First simplifies this process into a straightforward math problem. So, prepare your pencil, because we’re about to delve […]
Some things just go together: peanut butter and chocolate, washers and dryers, and ecommerce businesses and credit cards. These little plastic cards have become an essential business tool, in ecommerce especially. In fact, when I talk with clients about profit first, one of the first questions I always get is, “I can still use my […]
Cash management is a critical piece of owning a business and growth and success. That’s why it’s so important to analyze how you’re managing your cash and make a plan for the future. By doing this, you’re not only setting yourself up for success, but also making a back-up plan for times when business just […]
The Profit First methodology is all about the bank accounts. There are several that you need to set up in order to disperse your cash effectively and increase your awareness of your spending. To do it right, you need to make sure you have the right accounts to help you structure your business to grow. […]
As we weather the summer heat wave and 100 degrees plus temps, it’s a good time to do a little housekeeping before business heats up in the fall. Here are 3 action steps you can take right now to set yourself up for success and learn about summer financial housekeeping. Be Aware of Mileage Rate […]
After you’ve prepped and searched through all your options, it’s time to actually sell. When it comes time to send your business off into new hands, there are several things you want to keep in mind to ensure you get the price and the smooth transition you deserve. The Sale It may be time to […]
