Based on the sunny Gold Coast of Australia, eCommerce Growth is a boutique results-driven digital marketing agency specialising in advanced email marketing (Klaviyo), eCommerce growth strategy, and conversion optimisation.
“My job is to develop and build effective long-term growth strategies for my eCommerce clients.” – Brynley King.
As a high-performing, goal-directed business owner, Brynley King, the Director of eCommerce Growth, understands the value of sound financial management.
“I’ve always been quite financially savvy with my business just due to knowing that finance is one of the most important aspects of the business itself.”
However, Brynley felt that she could use some expert assistance to scale her business sustainably.
“So essentially the problem we were facing at that time was being able to scale our business while retaining the same profit margins and continuing to be financially savvy as we started to scale.” – Brynley King.
So why did Brynley choose to work with SBO?
“I had already done a lot of research on Jason Andrew after coming across his profile on LinkedIn, and from there, I started really looking into SBO financial before taking the plunge and reaching out to them. I’d also read Stark Naked Numbers, so that removed all doubts as well.
What was interesting is that I had a few people advising me that it wasn’t really necessary to engage SBO Financial, but I knew that it came down to the fact that they probably didn’t understand exactly what SBO did. And so I did it anyway, and it’s been the best decision for our company to date.”
SBO helped eCommerce Growth increase its cash flow and profitability through CFO advisory, accounting, bookkeeping, and operational finance support.
What particularly stood out to Brynley was the in-depth goal-setting and budgeting process that we took her through.
“I loved the goal-setting process. It was definitely one of the best exercises that I’ve ever done. And it was just such a great process to go through because it actually made me sit down and realise, okay, what do I want out of this company? What are the goals that I have?
Which I hadn’t, strangely enough, really ever thought of prior to that. So that was such a great process to go through.
And then when I received the budget, it was insane seeing just how in-depth the model has been built out. It really is truly awesome.”
Brynley also got a lot of value from the monthly financial advisory meetings and the accountability.
“Having the monthly meetings helped me to stay accountable and on track with my numbers.
It always makes me think – if I have a large expense coming that’s a one-off, should I hold off, or should I do this? How is this going to affect my business?
It’s so beneficial to have someone accountable to talk to and to go through things in that way and that structure.”
HITTING GROWTH TARGETS CONSISTENTLY FOR 3 MONTHS STRAIGHT AND ACHIEVING A 76.57% PROFIT MARGIN
With SBO Financials’ support, eCommerce Growth hit its growth targets for three straight months. What’s even more impressive is they’ve hit their October 2021 target seven months earlier.
“Since our audit in December, we’ve hit our growth targets set out by Jason and Patrick for January and February and hit our projected target for this month in March that’s scheduled for October 2021. We also saw insane growth in January alone, with gross profit margins of 76.57%.”
For Brynley, it’s not just about growth and profitability, but what these results now enable her business to invest in, using the cash flow.
ON TARGET TO HIT SEVEN FIGURES PER ANNUM AND PAYING OFF A COMMERCIAL PROPERTY LOAN
“We now have a monthly retainer base worth over $1M per annum. We’re on track to pay off our commercial property in full by December 2026, only taking six years to pay off the loan.”
TAKING CARE OF THE TEAM, SAVING FOR A RAINY DAY, AND MAKING THE ATO HAPPY
Brynley was particularly proud to share that eCommerce Growth is now in a great position to pay their team members above industry standard and plan for pay increases as part of their budgeting.
“We’ve also set out in our budgets that the team is remunerated above the industry standard, and we have their pay increases already built out into our budgets for the next three years.”
She’s also got enough in the bank for any emergencies that may arise.
“We also have an emergency account to take us through to three months minimum in terms of expenses in the event of an emergency.”
Furthermore, eCommerce Growth is now all paid up to date with their ATO obligations, including BAS, PAYG, and superannuation.
SETTING AN EXAMPLE FOR FEMALE FOUNDERS BY PAYING HERSELF A HEALTHY SALARY AND SUPERANNUATION
“I’m paying myself now a healthy wage and $25,000 a year into my super. So it’s something, as a female founder, that I’m incredibly proud of.”
The SBO Difference
“The team is so knowledgeable and passionate about creating a financially healthy business. There’s no emphasis on vanity metrics, which I love. There’s no emphasis on top-line revenue, and they’re all about best practices and being financially healthy. So to me, that is the biggest stand-out.” – Brynley King.
Summary of SBO services
- Finance Management
- Effective Business Budgeting
- Proactive Analysis and Advice
- Cash-flow Forecasting & Management
- Business Analysis & Reporting