As an ecommerce business owner, understanding your financial health is critical to sustaining and growing your business. One of the most powerful tools at your disposal is the Profit & Loss Statement. This document not only reflects your company's performance over a specific period but also provides insights into areas where you can optimize for [...]
Now that the year is officially halfway over, it’s time for a true up. Maintaining accurate inventory records is essential for assessing profitability and ensuring your financial statements are correct. A quarterly inventory true up can help you achieve this by reconciling the physical count of inventory with your books. Here’s a a quick guide [...]
As an ecommerce entrepreneur, managing inventory often feels like an endless cycle. Constant borrowing to fund inventory can strain your cash flow and make it difficult to achieve financial stability. Unlike brick-and-mortar stores, ecommerce businesses face unique inventory challenges, adding to the confusion. However, there are proven strategies to break free from this cycle. Let’s [...]
In the fast-paced world of ecommerce, financial challenges are inevitable. As a seller, you might find yourself considering debt as a quick fix. Don’t get me wrong, debt is not always a bad thing for growth, but is it truly your only option? Understanding the types and implications of debt can help you make that [...]
As we enter the third quarter next week, ecommerce businesses must focus on fine-tuning their financial strategies to ensure continued growth and profitability. Profit First provides a great set up to review your business and make sure you’re prepared for what’s to come. Here are some essential steps to help you navigate this Q3 with [...]
We are getting excited about our upcoming webinar with Chelsea, founder and CEO of SoStocked! We want to remind you to join us tomorrow, January 17th at 11am PST/2pm EST to learn how to tackle inventory this year and stay on top of upcoming Amazon fee changes. Save your spot now! Why We Recommend SoStocked [...]
In the fast-paced world of ecommerce, managing inventory efficiently is crucial for the success of any online seller. That's where SoStocked, an innovative inventory management software, comes into play. SoStocked is a powerful tool designed by an Amazon Seller to streamline inventory management for Amazon sellers, making it easier than ever to stay on top [...]
Happy 2024! 2023 brought us all plenty of challenges, but we made it. This time of year always gets me thinking about a conversation I had once with Beth Fynbo, the visionary behind Busy Baby, LLC, and her thoughts always resonate with me when thinking about the upcoming year. With her remarkable journey of taking [...]
As we embark on a new year, it's a perfect time to contemplate how we can strengthen our businesses and ensure they flourish in the months ahead. One common strategy that often surfaces is the idea of reinvesting profits. While it seems like a logical approach, there's a fresh perspective worth exploring. Particularly when your [...]
Although it may seem like the end of the year is too busy to fit another thing on your list, it's actually the best time to tackle the challenges of tax season. For ecommerce business owners, tax season can be particularly stressful. However, starting early and breaking your list down into our 5 simple steps [...]
