Profit First

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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 […]

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 […]

Ecommerce Sellers

How to Eliminate Cash Flow Headaches for Ecommerce Sellers

What’s your greatest challenge as an ecommerce business? I always ask this question as I speak with potential clients and other ecommerce sellers. The resounding answer is most often—Cash Flow! My guess is it’s the same for you. Cash flow is generally one of the greatest challenges because it fluctuates so much, just by the […]

bookskeep: The Small Business Support System

bookskeep started as a simple desire to meet the educational needs of my daughter. By operating a virtual admin business I was able to obtain extra income to provide her private tutoring, utilize my business savvy mind, and be a taxi driver. By 2011, my small business was helping to support our household. Due to […]