What to Fix Next? Cash Flow!
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 […]
Profit First: Preparing For Sales Tax Liability
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 […]
Cash Flow Planning and the Profit First Method
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.
Resist Temptation: Don’t Borrow from Accounts to Cover Inventory
The other day, an ecommerce seller reached out to me with a question about the implementation of the Profit First method they learned from my book. They wanted to know my thoughts on borrowing funds from their Sales Tax or Profit Account to purchase inventory in preparation for Q4. They noticed that this would be […]
How Profit First Shaped My Year
When I sat down to write this week’s blog, I decided to do a “year in review” and look back at all that 2019 brought with it. Once I put pencil to paper (well…keyboard to computer), I was amazed at just how full this year has been! We all get so busy juggling balls, keeping […]
7 Profit First Steps to Create Your 2020 Vision
So, 2019 is a wrap. I’ve seen mixed reviews about the year in Facebook; everything from best sales ever to very lackluster results. At this point, you’re probably focusing on next steps. Let me suggest a few that I’ve seen help clients successfully prepare for upcoming next year.
Does Your Ecommerce Business Have a Squirrel Fund?
Have you ever noticed how diligent the squirrels are about collecting and burying acorns and other nuts? They are hard workers! Whenever the ground is covered with fallen nuts, you can bet the squirrels will be out there, working like there’s no tomorrow to gather and stash as many as they possibly can. Why? So […]
Relay Bank – A Good Choice for Profit First Bank Accounts
Anyone who has ever needed to set up a bank account knows what a hassle it can be. Between having to make a trip to the bank, waiting out the long lines, and filling out paperwork, one small account can take a huge chunk of time and energy. If you’re trying to set up accounts […]
3 Steps for Managing Cash Flow in Q4 and Beyond
Everyday is an exciting day here at bookskeep, but today is an exceptionally exciting day! We are down to the wire preparing for our company retreat and celebration of the 5th birthday of our business! It’s been an amazing ride so far! I am extremely grateful and proud of the company we have built and […]
Profit First Bank Accounts Help Prepare Your Business for Tax Season
Having just closed the third quarter, most ecommerce sellers are preparing to pay their Q3 sales tax and anticipating what their Q4 tax liability might be. Yes, it’s that time again. Were you prepared with the funds you needed when that tax bill arrived in your mailbox? Will you have the funds there and ready […]