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!
eCommerce Fuel Blog featuring Cyndi Thomason of bookskeep
Cyndi Thomason, author of Profit First for Ecommerce Sellers and President of bookskeep talks Profit First methodology with Andrew Youderian and eCommerce Fuel.
Profit First Friendly Banks
At bookskeep, we frequently get asked what is the best bank to utilize for Profit First?
Q4 Sales for Amazon Sellers Fund Future Plans
During these next couple of months, many Amazon sellers are focusing on Q4 and preparing to make the most of the holiday shopping season. By doing a little work now, you can make sure you keep more of the money you make during one of the busiest shopping times of the year. While inventory buying […]
Create an Inventory Bank Account to Manage Cash Flow
Are you having cash flow issues? Do you come up short of cash when you reorder inventory? It’s human nature to look at our bank balance and make a judgement about our financial health. When you use a single checking account for all your business expenses, the funds you are counting on to replenish your inventory are mingled with all […]
Squirrel Funds: How to Build Up Your Savings
We’ve all heard the story about the squirrel who works hard in the sweltering heat all summer long, building a nest and gathering nuts to store for the winter. When the winter weather arrives, the squirrel is warm and well fed. The squirrel was smart and prepared. Do you have a Squirrel Fund? Are you […]
Profit First Professional Convention 2017
The Profit First Professional Convention is happening this week in Morristown, NJ, and I couldn’t be more excited! Running from September 27 through September 30, “Profit Con” is the place to be to get your business operating the way you’ve always envisioned it could. As a participant at Profit Con, you will have the opportunity […]