The Profit Assessment—How Healthy is Your Ecommerce Business?
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 […]
Profit First and Q4: Now’s the Time to Prepare!
A couple of weeks ago I had the pleasure of being a guest on InventoryLab’s OpenLab webinar series. It’s always nice to chat with Jeff Campbell and his team about all things Profit First- and inventory-related. There’s a lot to discuss there, and we make good use of our time together! In this webinar, we […]
Top 4 Profit First Bank Accounts and Why You Need Them
When implementing the Profit First methodology in your business, one of the first things you learn is the importance of setting up different bank accounts for different purposes. In Profit First for ecommerce, that first account should be for inventory activity. Once you have separated your inventory banking activity from your operating expenses, you’re ready […]
Make Profit the Habit in Your Ecommerce Business
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 […]
Preparing Your Amazon Business to Exit Rich
Today we wrap up our blog series on exits with a review of a new book released at the end of last month, Exit Rich by Michelle Seiler Tucker and Sharon Lecter. While this book is not written specifically for ecommerce businesses, it is packed full of great information. Ms. Tucker draws from her vast […]
Profit First and Inventory Lab – Making Cash Work for You!
Good news! Today we’re going to discuss how to use Inventory Lab to assist in managing your Profit First Cash Flow system. I’m excited to share this with you because it represents a breakthrough in my thinking that occurred while I was on my 4-week vacation recently. Earlier this year, Jeff Campbell of Inventory Lab […]
Exiting Tips from a Recent Amazon Seller
To listen to the full video interview, click here. This week, we’re talking with Christian, who recently sold his Amazon business. As a valued bookskeep client, we have followed Christian through this process and have been there to help make sure his numbers were accurate and complete—a must-have when working with prospective buyers! Christian shares […]
How To Prepare for A High-Value M&A Transaction
In this week’s blog on exiting an Amazon business, Chris Shipferling, Managing Partner at Global Wired Advisors, an M&A Investment Bank, shares his expertise on this hot topic. With his many years in this business, we appreciate Chris’ insight and advice. M&A Transactions High-value M&A transactions are trending digital, and with online and Amazon-based businesses […]
Now is a Great Time to Sell Your Amazon Business!
Continuing our June blog series on exiting your Amazon business, we are thrilled to hear from Bill Evans, founder & CEO of FBA Private Market. This is a new platform that allows Amazon sellers to receive competitive offers from dozens of professional buyers at once. Let’s hear what Bill has to say! The Market for […]
Client Spotlights: Custom Pins & Buckles
Reba Parkinson, owner of Custom Pins & Buckles, had a hard time finding a bookkeeper who understood how her ecommerce business worked. She wanted someone who could keep her books clean and help her create a financial plan for her business. That’s when she found bookskeep, and her business has been operating smoothly ever since! […]