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.
eCommerceFuel Podcast: Profit First: How To Keep More of What You Make
As a guest on this eCommerceFuel podcast with Andrew Youderian, I discuss the Profit First methodology and how it can help you do just that! We talk about implementing Profit First into your business, allocating funds, and much more!
Bright Ideas Podcast: Mastering Cash Flow in Your Amazon Business Using Profit First
In this podcast with Trent Dyrsmid of Bright Ideas, I share why the Profit First cash flow model is one of the most clear-cut strategies to help ecommerce sellers understand inventory cash flow.
Teikametrics Webinar: Advanced Accounting Tips to Grow Profits For Your Ecommerce Brand
When the amazing folks at Teikametrics.com invited me to their webinar to discuss “Advanced Accounting Tips to Grow Profits for Your Ecommerce Brand” I was happy to oblige! During the webinar, we offer Amazon and other ecommerce sellers advanced tips on understanding profitability, saving money, calculating COGs and more.
The Way We Do What We Do: Our Immutable Laws
As an ecommerce accounting company, we are committed to a lot of things. We’ve built a strong foundation and we know why we do what we do. We guide entrepreneurs to financial freedom. As our group discussions progressed it became apparent that the way we do things was just as important as what we were […]
Profit First Relies on Good Habits, and it’s Never Too Late!
If you’re familiar with Profit First, you know the level of success you have is a result of developing good habits around your money. It’s been shown that our habits each day make up our behaviors. When our habits are in alignment with our goals, their consistent performance is the biggest factor in achieving those […]
Debt Can Be a Good Thing for Your Ecommerce Business?
While I generally advise many of our clients against the use of debt in their business, it can have its place, if it’s being used as a tool and is managed responsibly. There are good reasons to have debt, such as loans. Here’s how I differentiate between the good and the bad (to avoid the […]
Amazon Reserves and Profit First
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 […]
Tool: The 13-week Cash Flow Plan for Ecommerce Sellers
As of this posting, we are about four weeks in from the time the World Health Organization (WHO) declared the Coronavirus outbreak a world-wide pandemic. Once that announcement was made, our world began changing at supersonic speed. For ecommerce business owners, and many others as well, it didn’t take long to begin to see the […]
Ecommerce Businesses – What to Do in Uncertain Times
The COVID-19 situation has impacted everyone in one way or another. Many of us are considering what to do immediately and then next after that. In other words, what’s the plan? The short answer is get good control of your cash. We’ve created a comprehensive guide as a checklist. You can access it here. Here […]
