Most eCommerce founders focus on efficient customer acquisition and conversion as their primary objectives. But the truth is inventory management is the backbone of every retailer. You might have an amazing brand and vision, but it’s hard to stay in business if you have no stock to sell, or if you’re selling at a loss.…
Discounting is a tricky subject. Personally I have a love/hate relationship with the topic as one size does not fit all businesses. My general advice to founders is to avoid discounting as much as possible. That said, discounting used strategically can be an effective and legitimate way to improve your top line. It’s a balancing…
The best businesses in the world have strong gross profit margins. Here’s how to calculate yours and check your financial health.
A few simple financial tips can quickly turn your business from a cash-eating monster into a cash-generating machine.
If you’re one of those brands that likes to discount on Black Friday Cyber Monday, there’s a good chance you’re selling products at a loss. While you might be meeting your topline sales targets with record high monthly sales, you could be left with no actual profit to show for it if you’re not generating…
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…
You’ve hit a cash crunch. You’re not sure exactly how, but you think it was a combination of sluggish sales last month and the deposit you just paid for the next container of stock. Coupled with the tax debt the accountant just surprised you with and you’re left feeling anxious as to how you’re going…
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,…
eCommerce competition is heating up! Black Friday, Cyber Monday and Christmas are all around the corner. This means that the competition is running more ads, spending more and they’re running aggressive promotions. And customers have come to expect it. Unless you are selling something so unique that you have no competition, then the reality is…
My suspicions arose on the third consecutive day he visited the house. The overly friendly man. Pearly white teeth, charming smile. He comes bearing gifts. Gifts for my wife. She awaits this mysterious man every day, constantly checking her phone and emails for updates. She leaps with excitement as he pulls his van into the…