Finally! Two of my favorite things got together like bacon and eggs and chocolate and peanut butter! Relay and Profit First have been critical to my business for many years. I love how my cash flow hums with Profit First but juggling the banks and their fees made me crazy. When Yousef West introduced Relay […]
Prices continue to rise and it’s taking a toll on everyone. Everything has doubled (at least) in price and we still have to be ready to pay that tax bill soon on top of gas and groceries. It’s a bit overwhelming if you aren’t ready, so my question is, are you? Preparation with Profit First […]
What do you hope to achieve this year in your business and in your life? Do your goals include more profit, more family time, more sales, and more learning? What one thing can you do to ensure the change sticks? Achieving a goal is a process, so let’s talk about how to get there. Understand […]
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 […]
Even if you don’t look at any of your other business numbers, the one that you should be looking at is Gross Margin. It’s important to know if your Cost of Goods Sold and the Cost of Sales is less than the Total sales by an amount big enough to fund operations, pay yourself and […]
In the past, I’ve discussed how to set up your Profit, Owner’s Comp, and Tax accounts using the Profit First method. But do you know how much to add to each account? Luckily, you don’t have to guess. You can use the Instant Profit Assessment instead. Know the Real Numbers Until now, I’ve only talked […]
One thing I find myself reminding people of over and over is that profit is not an event—a one-time, “Hey, I did it!” kind of thing that happens at tax time, if you’re lucky. To make real profit, consistently, it has to become your habit. Like anything else, if you have a plan and stick […]
In this webinar, we discuss how and why Profit First works; and how money works in your business, including bank accounts, income and inventory.
In this webinar hosted by Gusto, Mike Michalowicz and Cyndi Thomason discuss how Profit First can speed up making your business profitable.
This is the fourth and final installment of the 4-part blog series on profitability I recently did for Teikametrics.com, To wrap up our series, in this blog we take a look at the final three levers that are key to driving profits in your ecommerce business. If you missed the first three blogs, check them […]
