LEARN TOP ECOMMERCE ACCOUNTING AND CASH MANAGEMENT STRATEGIES ►
When you are running a 7-figure eCommerce business, you need clarity and confidence in your finances in order to make informed business decisions so that you can grow your business.
Many sellers obsess over top-line revenue when they should be obsessing over their profit margins and cashflow.
It doesn’t matter how great your sales numbers are if you are losing money on each order.
Therefore, knowing your profit margins is key to staying in business for the long haul.
Here are 5 actionable strategies for improving your profit margins:
❶ Get clear on your most and least profitable products
❷ Reduce unnecessary operating expenses across the board
❸ Create a strategy for improving profit margins for your least profitable products
➍ Maximize sales from your most profitable products
❺ Get better at inventory management
When you do these right you’ll accelerate your ability to scale to 8-figures and put your business in a better position for a potential exit.
If you are in need of improving your financial literacy, developing efficient and repeatable systems to manage your business finances then:
DM me for a free copy of our Xero toolkit for eCommerce businesses and our eCommerce accounting guide.