What is a good gross profit margin for your eCommerce business?
The best businesses in the world have strong gross profit margins. Here’s how to calculate yours and check your financial health.
How to use your break-even point to make spending decisions
What impact will added expenses have on your business? Instead of hoping for the best, calculate your break-even point and make informed spending decisions.
How much is your time worth as a business owner?
Understand the true value of your time so you can stop working in your business and start working on your business.
Accounting vs Financial Management: Why your accountant isn’t proactive
Want someone on your team focused on future financial growth? You need a totally different type of accountant working for your business.
How to build a financial budget for your business (and why you need one)
There are few words in the English language that conjure feelings of scarcity and deprivation like “budgeting”. Our amygdala responds to the word budget in the same way it responds to the word diet — with utter dread. Budgeting, like dieting, is disliked because it requires determination. It requires us to be disciplined with our…
How to calculate your digital agency’s charge-out rate
You did it! You branched out and started your own digital agency. No more working for the man – you’re the boss now, and one of the first things you’re going to need to figure out is how much you charge your clients for the services you offer. In this article, I discuss the all-important…
When can my agency afford to hire my next employee?
For owners and operators of service-based businesses, growing pains are inevitable. But there are tried and tested formulas for understanding the right triggers or actions to take to ensure the growth in your agency is sustainable from both a workflow perspective and a cash flow perspective. In this article, we tackle the important question of…
Building a Profitable eCommerce Business
You’d think growing your eCommerce business would just mean making more sales. But from your own experience, you’d know that it’s not at all that straightforward. What we really want to do is make more profit. Beyond ‘just’ increasing our volume of sales, we’ve got multiple levers we can pull. In this article, we’re going…
MrBeast: Influencer turned hamburger magnate
Picture this. A brand new, 300 location burger restaurant chain launches OVERNIGHT. The company’s companion app hits #1 on the app store charts and does over $15M+ in revenue in the space of 48 hours. On launch day, the company actually pays you to eat their food. Wads of cash are stuffed in paper bags,…
Your Business is not your baby!
So many CEOs like to romanticise business as being like family. They try to instil a culture of unity and closeness, building a bubble of safety and unconditional love. They treat the business just like an extension of their real family. They think of their business as their baby. This analogy is just plain wrong.…