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Tag: Accounting

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Top 3 Profit KPI’s for eCommerce Businesses

The decisions that you make as a business owner will decide the fate of your business, family, and overall life. Everything that you do in your business should be planned and measured. There are tons of different KPI’s, financial ratios, and benchmarks we can use to diagnose and assess your business to drive key financial […]

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Sherman Case Study: Cautionary Financial Lesson for eCommerce Businesses

When you are a business owner you are solely responsible for your financial future. Without having a strong accounting system AND financial system implemented in your business you are destined for failure. This means that you have to have a strong accounting foundation. But also, key financial data and key performance indicators that allow you […]

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eCommerce Businesses: The Only 2 Ways To Increase eCommerce Gross Margins

Gross profit margin is a key metric for eCommerce business owners to manage. Gross margin is a two-part equation. To improve gross margins for your e-commerce store, you can either increase your revenue per product or decrease the cost of each sale. To increase revenue, you have to find opportunities to increase prices or average […]

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eCommerce Businesses: Gross Margins Can Make Or Break Your Business

Gross profit margin is a key metric for eCommerce business owners to manage. Do you know your gross profit margin per product, sales channel and customer? This can make or break your business. Unfortunately, I know most of you will not have these key KPI’s integrated into your accounting and financial system. Gross profit margin […]

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Products, Customers AND Sales Channels

One consistent trend that I see is that business owners do not focus on their accounting function until it is too late. It is unbelievable how many serious business owners do not consistently and frequently review their financials. Even more frequently, eCommerce business owners are not tracking their accounting data properly to make key financial […]

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Increase Profits, Improve Cash Flows, Effectively Manage Inventory

The truth is most accountants are just a cost. The cost of compliance with taxes. The cost of getting the books done. But when you work with me. It’s not just about compliance. 👇 I recorded a video going over this below It is about increasing profits, improving cash flows and effectively managing your inventory. You […]

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Increase Average Order Value with Top 5 Strategies

An effective method for increasing your profit margins is increasing your average order value. Average order value is the average dollar amount a customer spends per transaction in your store. You can calculate average order value by using a simple formula: total revenue / number of orders = average order value. To increase your average […]

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Why Customer Lifetime Value Can Kill Your eCommerce Business (Use This Metric Instead)

Customer lifetime value is an important metric for eCommerce companies to understand and measure. Customer lifetime value is an average of how much a customer is worth to you over their lifetime. What do you do if your business has only been operating for a short time period? 6 months? 1 year? 👇 I recorded a […]

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eCommerce Growth Equation – Do The Math

As your business grows, it becomes more important to monitor and analyze your data. This one equation simplifies your eCommerce financials and allows you to cut through uncertainty so that you can prioritize key financial decisions. Visitors x Conversion Rate x AOV  = Revenue By focusing on these three variables, you can you assess every […]

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Markup v. Margin Cautionary Financial Lesson for eCommerce Businesses

Mismanaging margin and markup can lead to selling products at prices that are substantially too high or low, resulting in lost sales or lost profits. Margin is sales price minus the cost of goods sold. Below is a breakdown of each profit margin formula. Gross Profit Margin = Gross Profit / Revenue x 100 Operating […]

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What Gets Measured, Gets Managed (Important Financial Tip for eCommerce Businesses)

If you are an own a successful eCommerce business you should be able to immediately identify the primary financial goal you are focused on driving in your business this week, month, quarter and year. ✔️Increase Revenue? ✔️Increase Gross Profit Margin? ✔️Increase Net Profit? ✔️Reduce Taxes? You should be measuring your performance with relevant reporting that […]

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2 Financial Hacks for Scaling eCommerce Marketing Campaigns

I know you’re thinking that my accountant doesn’t worry about my marketing and business growth. They’re totally REACTIVE. Not PROACTIVE. And I know what you mean. Most CPA’s fall into this trap. The truth is most accountants are just a cost. The cost of getting the books done. But when you work with me. It’s […]

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How Do Your Books Look? Top Accounting Mistakes for eCommerce.

How do your books look? All too often I see business owners scrambling to get their accounting records together for lenders or for tax season at the last minute. This means that on a month to month basis they are not tracking their financial performance. They are running their company blind. Would you get on […]

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Want me to Benchmark You Against Your eCommerce Competitors?

Once you understand your gross profit per product, customer and sales channels. And how it compares to others. We need to start to Benchmark. Why? Are you pricing your products correctly? Is your customer acquisition costs too high? Is your return on ad spend too low? Is your average order value and customer lifetime value […]

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So How Much Does a Good CFO Cost My Business?

If you are a business owner or investor you are solely responsible for the decisions that you make. Your business will live and die based on the quality of your decision-making process, knowledge and due diligence. Managing the financial and accounting functions in your business will drive your overall success. There is a very large […]

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