When it comes time to create a team for your business, how do you go about it? How do you hire people who are going to build the business and support you and each other in the process? These are just a few of the many questions I often hear business owners have when they […]
One of the primary goals of owning a business is to pay yourself. A few of the questions we get all the time are, “When can I pay myself? and “How much?” With Profit First, this is a simple math problem, so sharpen your pencil and get ready to get personal. How Much Do I […]
Some things just go together: peanut butter and chocolate, washers and dryers, and ecommerce businesses and credit cards. These little plastic cards have become an essential business tool, in ecommerce especially. In fact, when I talk with clients about profit first, one of the first questions I always get is, “I can still use my […]
When I decided to write my latest book, Motherhood, Apple Pie, and All That Happy Horseshit, I knew that there had to be other women out there who understood trying to be a good mom and a good business owner. At the beginning of my momtrepreneur journey, trying to juggle these two roles and their […]
Now that summer is here and you’ve gotten through the hustle and bustle of tax season, you have more time to look back on your business habits and what needs fixing. You can dig into your business practices, the numbers, and financial accuracy. Look at anything that might help you improve. Most often, ecommerce sellers […]
Cash management is a critical piece of owning a business and growth and success. That’s why it’s so important to analyze how you’re managing your cash and make a plan for the future. By doing this, you’re not only setting yourself up for success, but also making a back-up plan for times when business just […]
Many times, ecommerce sellers come to us asking for help with Profit First because they’re having trouble managing money. However, after we do the Profit Assessment for their business, we find that what they actually need is help with cash flow planning. While Profit First is a great way to manage cash, it won’t help […]
Even if you don’t look at any of your other business numbers, the one that you should be looking at is Gross Margin. It’s important to know if your Cost of Goods Sold and the Cost of Sales is less than the Total sales by an amount big enough to fund operations, pay yourself and […]
The Profit First methodology is all about the bank accounts. There are several that you need to set up in order to disperse your cash effectively and increase your awareness of your spending. To do it right, you need to make sure you have the right accounts to help you structure your business to grow. […]
As we weather the summer heat wave and 100 degrees plus temps, it’s a good time to do a little housekeeping before business heats up in the fall. Here are 3 action steps you can take right now to set yourself up for success. Be Aware of Mileage Rate Changes According to the IRS website, […]
