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Cyndi Thomason is the Founder and President of bookskeep, a financial management tool for e-commerce offering bookkeeping, invoicing, and expense-tracking features. As a master-level certified Profit First professional and certified Fix This Next coach, Cyndi works with e-commerce clients to help them achieve long-term profitability in their business. As an industry thought leader, she devotes much of her time speaking at various events, webinars, and podcasts, including ASD Market Week, SellerCon, Prosper, eCommerceFuel Live, Freedom Ticket, and Bright Ideas. In January 2019, Cyndi released Profit First for Ecommerce Sellers, a best-selling guide that focuses on four critical areas: managing inventory, relying on debt, understanding financial data, and maintaining focus.
In this episode…Profit First is a financial management system created by author Mike Michalowicz. The fundamental idea is to prioritize allocation over traditional accounting. The system emphasizes the importance of setting aside profit to drive long-term business success and encourages a disciplined approach to success. How can e-commerce sellers implement the Profit First methodology to maintain profitability while scaling?
Profit First professional Cyndi Thomason advocates three practices to accelerate scaling: optimizing inventory management, leveraging manufacturing partnerships, and strategically managing expenses. To enhance your inventory management, order less to ensure a rapid ROI. Cyndi notes that many e-commerce sellers should learn to negotiate with their manufacturers. Beyond building a relationship, practice the art of negotiation — it could secure you 0% financing. This is one of the quickest methods to scale your business. Lastly, focus on the three main drivers of expenses: inventory, Amazon FBA fees, and advertising spend — including assessing your COGS.
In this episode of the eComm Breakthrough Podcast, Josh Hadley interviews Cyndi Thomason, Founder and President of bookskeep, about profitability drivers to help your business scale. Cyndi shares her inspiration for writing Profit First for Ecommerce Sellers, lists common bookkeeping hurdles e-commerces sellers face, and explains how to implement the Profit First methodology.
Resources mentioned in this episode:Special Mention(s):
Related Episode(s):
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7777 ratings
Cyndi Thomason is the Founder and President of bookskeep, a financial management tool for e-commerce offering bookkeeping, invoicing, and expense-tracking features. As a master-level certified Profit First professional and certified Fix This Next coach, Cyndi works with e-commerce clients to help them achieve long-term profitability in their business. As an industry thought leader, she devotes much of her time speaking at various events, webinars, and podcasts, including ASD Market Week, SellerCon, Prosper, eCommerceFuel Live, Freedom Ticket, and Bright Ideas. In January 2019, Cyndi released Profit First for Ecommerce Sellers, a best-selling guide that focuses on four critical areas: managing inventory, relying on debt, understanding financial data, and maintaining focus.
In this episode…Profit First is a financial management system created by author Mike Michalowicz. The fundamental idea is to prioritize allocation over traditional accounting. The system emphasizes the importance of setting aside profit to drive long-term business success and encourages a disciplined approach to success. How can e-commerce sellers implement the Profit First methodology to maintain profitability while scaling?
Profit First professional Cyndi Thomason advocates three practices to accelerate scaling: optimizing inventory management, leveraging manufacturing partnerships, and strategically managing expenses. To enhance your inventory management, order less to ensure a rapid ROI. Cyndi notes that many e-commerce sellers should learn to negotiate with their manufacturers. Beyond building a relationship, practice the art of negotiation — it could secure you 0% financing. This is one of the quickest methods to scale your business. Lastly, focus on the three main drivers of expenses: inventory, Amazon FBA fees, and advertising spend — including assessing your COGS.
In this episode of the eComm Breakthrough Podcast, Josh Hadley interviews Cyndi Thomason, Founder and President of bookskeep, about profitability drivers to help your business scale. Cyndi shares her inspiration for writing Profit First for Ecommerce Sellers, lists common bookkeeping hurdles e-commerces sellers face, and explains how to implement the Profit First methodology.
Resources mentioned in this episode:Special Mention(s):
Related Episode(s):
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