I have recently had a few questions from ecommerce sellers about how to manage their profit allocations when Amazon withholds a reserve. This week’s blog will specifically address the implications to your Profit First allocations and how to manage them if a reserve has been withheld. I will also address how to use your Profit […]
The last day of the EntreLeadership Summit, Day 3, kicked off with leadership coach and Ramsey personality, Christy Wright. Her topic was “Get a Life, Don’t Lose Yourself in the Business You Love” and she was on fire! This “Leadership is Personal,” certainly rings true for me, and I bet it does for many of […]
The Fix This Next framework we have been discussing in our weekly blog and bookskeep BUZZ for the last several weeks has worked so well for us, allowing us to zero in on the needs of our clients. For some time, we have realized that our ecommerce bookkeeping clients need our help beyond just knowing […]
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 […]
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 […]
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 […]
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 […]
So, 2019 is a wrap. I’ve seen mixed reviews about the year on 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 the upcoming next year.
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 […]
