Unveiling Ecommerce Profitability: The Driving Forces
Unlocking the secrets of profitability in your ecommerce business requires a special understanding of your financial statements. One report in particular, your balance sheet, provides 5 driving profitability forces to keep your eye on. So, let's discuss them and how they can impact your profit and your business. The 5 Drivers Picture your financial statements [...]
Why Profit First Might Not Work for You
If you’ve been here a while, and probably even if you haven’t, you know we're big advocates of Profit First. It's a system I use in my own business and modified it for my clients so I could write the book on Profit First for Ecommerce Sellers. However, as much as I believe in its [...]
Building Your Ecommerce Financial Blueprint
Understanding financial statements can feel like decoding a foreign language for many ecommerce folks. It's like trying to read a book without knowing the words. Sometimes, the problem isn't that you don't get it, but rather that the financial blueprint you're using doesn't match your ecommerce business. Building this blueprint starts with your Chart of [...]
On the Financial Success Road Again
Before heading down the road, it’s imperative that we make sure our vehicle is up for the trip. We look at our gas gauge, our tire pressure, and when our next maintenance service is scheduled. We often get much of this information from our dashboard. The same is true for your business. As you make […]
Introducing SmartSell – The Smart Way to Sell Your Business
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 […]
SmartStatements: A Visual for Your Numbers
Our fourth and final blog of this series is a discussion of a new client service called SmartStatements. This service offers a visual look at financial statements using charts and graphs to make your statements a little easier to understand. What If? I hear from people all the time, “I’m not a numbers person, so […]
2 Key Aspects of Financial Statements and What They Tell You
From the 1st to the 15th of each month, our team is scrambling to ensure we get financials out to our clients because we know the sooner we get the data in their hands, the sooner they have data for solid decision-making. I wonder though, how quickly do our clients open the reports once they receive […]
Your Financial Statements Wear Many Hats
“Know your numbers” is a common phrase when we advise our clients. No one has ever asked me which numbers and why? But I think these are good questions, so I’m going to give you a rundown on the important numbers. Let’s start by getting clear about the purposes your financial statements serve. Just like […]
3 Things to Help Ecommerce Sellers Identify Real Profit
Now that another year is in the books, my hope is that your bank accounts are full as a result of great year-end sales and careful financial management. If you haven’t already, you will soon be preparing your records for your tax provider. As we send out year-end financial statements to our clients, we often […]
