As an ecommerce accounting company, we are committed to a lot of things. We’ve built a strong foundation and we know why we do what we do. We guide entrepreneurs to financial freedom. As our group discussions progressed it became apparent that the way we do things was just as important as what we were […]
If you’re familiar with Profit First, you know the level of success you have is a result of developing good habits around your money. It’s been shown that our habits each day make up our behaviors. When our habits are in alignment with our goals, their consistent performance is the biggest factor in achieving those […]
While I generally advise many of our clients against the use of debt in their business, it can have its place, if it’s being used as a tool and is managed responsibly. There are good reasons to have debt, such as loans. Here’s how I differentiate between the good and the bad (to avoid the […]
I have recently had a few questions from ecommerce sellers about how to manage their profit allocations when Amazon withholds a reserve. This week’s blog will specifically address the implications to your Profit First allocations and how to manage them if a reserve has been withheld. I will also address how to use your Profit […]
As of this posting, we are about four weeks in from the time the World Health Organization (WHO) declared the Coronavirus outbreak a world-wide pandemic. Once that announcement was made, our world began changing at supersonic speed. For ecommerce business owners, and many others as well, it didn’t take long to begin to see the […]
The COVID-19 situation has impacted everyone in one way or another. Many of us are considering what to do immediately and then next after that. In other words, what’s the plan? The short answer is get good control of your cash. We’ve created a comprehensive guide as a checklist. You can access it here. Here […]
I’m looking forward to Mike Michalowicz’ new book coming out in late April entitled, Fix This Next. You may remember Mike is the author of Profit First, and he believes this book will be more impactful than Profit First. I’ve been using the diagnostic tool described in the book for the past several months […]
We are in the midst of tax season, which is always a little stressful, but having Profit First implemented in your business can ease some of that tax-time stress. Profit First is a cash management methodology that sets up any business for success. It teaches ecommerce sellers how stay afloat in troubled waters and come […]
Quite often I’m asked to help our clients implement the Profit First method for their ecommerce business. As we search further into the assessment, we come to find what our clients often require help with is planning their daily and weekly cash flow.
