Finding banking services that fit the needs of ecommerce sellers is sometimes challenging, especially for those implementing the Profit First system. We hear this often at bookskeep, and our clients are always inquiring about options and services that are available to them. In addition, the banking world is changing, and the customer experience is front […]
To ensure accurate and up-to-date financials, commit to regularly monitoring your numbers and ensuring proper allocation of funds and expenses. Implementing effective systems can streamline this task, requiring minimal time investment. However, if you approach it haphazardly each month, you risk relinquishing control over your time and money to Parkinson’s Law. You’ve heard me talk […]
In previous blogs about the Profit First methodology, I’ve talked about setting up your bank accounts for Profit, Owner’s Comp, and Taxes. But how do you know how much to put into these accounts? There’s a formula for that, and taking the Instant Profit Assessment below will help you determine those allocations. Let’s Get Real […]
In October 2014, I met Mike Michalowicz at QB Connect in San Jose, CA. I sat in a seminar room listening to a boring presentation, hearing the laughter from the room next door. I decided to go to the “fun” room where Mike was presenting and it has been “FUN” ever since. That day Mike […]
Here we are, just a week away from April 15th. Tax Day. Hopefully by now, you have 2020 wrapped up or at least ready to file. So, what happens next? Do you close the book and not worry about taxes again until next year, hoping it all just works out? You could, but I don’t recommend it! Instead, put a plan in place that will require a minimum amount of attention throughout the year. Profit First prepares you for taxes without the stress. Now, that’s a great plan! Here’s how it works.
As a guest on this eCommerceFuel podcast with Andrew Youderian, I discuss the Profit First methodology and how it can help you do just that! We talk about implementing Profit First into your business, allocating funds, and much more!
In this podcast with Trent Dyrsmid of Bright Ideas, I share why the Profit First cash flow model is one of the most clear-cut strategies to help ecommerce sellers understand inventory cash flow.
When the amazing folks at Teikametrics.com invited me to their webinar to discuss “Advanced Accounting Tips to Grow Profits for Your Ecommerce Brand” I was happy to oblige! During the webinar, we offer Amazon and other ecommerce sellers advanced tips on understanding profitability, saving money, calculating COGs and more.
