Just 10 years ago, selling to customers outside of your postcode was unheard of. Platforms like Shopify, Amazon and BigCommerce have democratised retail, allowing small businesses to service customers across the globe.
But this opportunity comes with a new set of challenges.
Which platform do we choose? What are our digital marketing channels? Do we engage in 3PL or inhouse fulfillment?
I’m sure you’re very familiar with all of these issues…
With front-end customer acquisition and branding often the focus of founders and operators, we often find that the tedious and sometimes ‘boring’ aspects of business are left to the bottom of the pile.
Yes, I’m referring to the accounting and finances. As an accountant and financial advisor to ecommerce businesses, we’ve seen some horror stories.
From multi-million dollar turnover businesses still running their books on Google Sheets, to brands selling their products at negative gross profit margins because they were looking at the wrong reports, we’ve seen it all.
Every founder and ecommerce manager should understand at least the fundamentals of ecommerce accounting, so we’ve put together this playbook to get you started.
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