Profit First-Cash Management

Mercury.com—An Online Solution for Ecommerce Banking

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 […]

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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 […]

Time And Money

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 […]

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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 […]

Sales equals Profit

Do Sales Equal Profit—Or Is There More to It?

If you’re familiar with the Fix This Next concept by Mike Michalowicz, you understand that the foundation of every business is Sales. After all, you must have sales to generate cash. However, if your business is struggling, as strange as it may sound, sales and cash are not always the solution to your problems. Sales […]