Strategies for Maximizing Ecommerce Sales and Profits
In the ever-changing landscape of ecommerce, businesses continually fight with new challenges. Now that we’re at the beginning of a new year, we’re coming off a seasonal sales surge. According to Adobe's predictions, online spending was expected to grow by 4.8% last holiday season, reaching an astonishing $221.8 billion. This forecast marks a significant jump [...]
Maximize Your Holiday Profits
It’s the holiday season, which is the most wonderful time of the year for many of you ecommerce sellers. Your well-crafted plans are jumping into action, and I hope your bank accounts will ring with record-breaking holiday profits! While you might not think you need to be concerned with cash flow management during the seasonal [...]
The Road Map to Profit
Just do it. Swallow your pride, and use the GPS for directions! We all want an easy trip so we can enjoy the ride. The best way to make sure that happens is to follow a proven path. You’ll be able to prepare for obstacles that might slow you down like accidents or slow-moving traffic, […]
BREAKING NEWS: Relay is the Official Profit First Banking Platform
Finally! Two of my favorite things got together like bacon and eggs and chocolate and peanut butter! Relay and Profit First have been critical to my business for many years. I love how my cash flow hums with Profit First but juggling the banks and their fees made me crazy. When Yousef West introduced Relay […]
Essential Tax Prep Bank Accounts
Prices continue to rise and it’s taking a toll on everyone. Everything has doubled (at least) in price and we still have to be ready to pay that tax bill soon on top of gas and groceries. It’s a bit overwhelming if you aren’t ready, so my question is, are you? Preparation with Profit First […]
Stick to Your Ecommerce Resolutions!
What do you hope to achieve this year in your business and in your life? Do your goals include more profit, more family time, more sales, and more learning? What one thing can you do to ensure the change sticks? Achieving a goal is a process, so let’s talk about how to get there. Understand […]
How to Pay Yourself as an Ecommerce Business Owner
Pay Yourself as an Ecommerce Business: One of the key objectives of owning a business is to ensure you can pay yourself. We frequently receive inquiries about when and how much you can pay yourself. Thankfully, Profit First simplifies this process into a straightforward math problem. So, prepare your pencil, because we’re about to delve […]
How to Create a Profitable Product
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 […]
Assessing the Health of Your Ecommerce Business
In the past, I’ve discussed how to set up your Profit, Owner’s Comp, and Tax accounts using the Profit First method. But do you know how much to add to each account? Luckily, you don’t have to guess. You can use the Instant Profit Assessment instead. Know the Real Numbers Until now, I’ve only talked […]
