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 […]
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 […]
Debt and Growth in Your Business and the Role Each One Plays
I often hear comments from ecommerce business owners that they have to have debt in their business in order to grow. I understand the mindset. While some debt can be a good thing, not all debt is created equally, so there are factors that need to be considered. The same is true with growth. Here […]
5 Steps to Building a Cash Strategy That Works for Your Ecommerce Business
Your business is booming and sales are up. Your bank accounts are looking good. Your shelves are stocked with inventory. You’re living your dream, right? Hold on. As an ecommerce seller, you have most likely already experienced the other side of that upswing, so you know that this too, shall pass. Because of the general […]
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 […]
How Profit First Changed The Way We Think
In October 2014, I met Mike Michalowicz at QB Connect in San Jose, CA. I sat in a seminar room listening to a boring presentation, hearing the laughter from the room next door. I decided to go to the “fun” room where Mike was presenting and it has been “FUN” ever since. That day Mike […]
Build your Ecommerce Business to Run Without You–4 Weeks at a Time
For the 4th year in a row, I will be taking my annual 4-week vacation from my business, coming up next month. Admittedly, in 2020 I stayed home, like so many others, but I still took the time away from the business. For anyone who follows me, and follows Mike Michalowicz, you know how I […]
Cash Flow Management for Ecommerce Sellers–Do You Have a Plan?
It’s been just over a year now since our world dramatically changed. We all were forced to think outside our usual boxes, in life and in business. Was it all good? Absolutely not, but was it all bad? I don’t think so. As with most things, there has been some good to come from it. […]
Profit First Tax Strategies for Ecommerce Sellers
Here we are, just a week away from April 15th. Tax Day. Hopefully by now, you have 2020 wrapped up or at least ready to file. So, what happens next? Do you close the book and not worry about taxes again until next year, hoping it all just works out? You could, but I don’t recommend it! Instead, put a plan in place that will require a minimum amount of attention throughout the year. Profit First prepares you for taxes without the stress. Now, that’s a great plan! Here’s how it works.
Hiring Employees for Your Ecommerce Business
“How will I know when I can afford to hire new employees?”