Strategies to Keep Your Cash Flow Working for You!
The “busy-ness” is ramping up in the Amazon world as sellers prepare for the 4th quarter holiday season. Before you get caught up in all the action, take a few minutes now to prepare your strategy and it will make executing much easier during the busy time.
The Disconnect Between Your Books and Your Cash on Hand
I think it’s always good to spend a little time now and then reflecting on your business; keeping in tune with the heartbeat of your operations. Are you managing things well? Understanding your numbers and producing financials that are providing you with an accurate picture of your business’ current health?
How to Keep Track of Cash Flow for Inventory
Off the top of your head, would you know the answers to questions about your business expenses, inventory and profit? Questions like, “What amount from my Amazon profit will I have to put back for the next time I make an inventory order? When am I supposed to pay off my supplier? Don’t I need […]
You’re Ready to Quit Your Day Job–But is Your Business Ready?
I attend several Amazon and ecommerce industry events every year. And at each one, whether I’m speaking to a group or just engaging in casual conversation with some of the attendees, at some point the discussion usually turns to the idea, the hope, the goal that many entrepreneurs have–leaving their “day job.” Some have made […]
I Need Help! But Can I Afford to Hire Someone?
A question that most business owners, including ecommerce, ask themselves at some point is “I really need help, but how do I know I can afford to hire someone?” It’s a tough question and not always an easy one to answer. The ecommerce business is built around cash flow and inventory, and it’s a […]
When Profit First Doesn’t Work—And What to do Instead
By now, if you’ve read anything I’ve written, you know that I am passionate about Profit First. I use it in my business and I even wrote my own book about it, Profit First for Ecommerce Sellers. However, as an Amazon Accountant there are times when Profit First is not the answer. If you are […]
Why You Need a Cash Strategy Year Round
Most businesses have ebbs and tides; cycles of highs and lows when it comes to sales. These cycles can be especially tricky for ecommerce sellers; planning for inventory, budgeting for operating expenses, and finding a way to survive the lean times until the next bounty comes in. It’s a lot of work, isn’t it? And […]
Paying Down Debt with Profit First
The transition to Profit First can seem like a big adjustment when you’re paying down debt. Often, clients are so motivated as they start cutting costs that they apply all those savings to reducing debt. They are so excited about the progress that they bypass the profit account and apply all extra monies towards […]
Why Profit, Owner’s Comp and Tax Accounts are Critical to Success
Why is the Profit First method becoming more and more popular among ecommerce sellers? Because it works! I hear it over and over from clients and other online sellers; once they’ve implemented Profit First as their way of managing their operations, their businesses have grown, their profits have increased and their stress has decreased…considerably!