This episode cuts through the noise of financial advice, urging e-commerce operators to deeply analyze their profit and loss statements. It exposes common pitfalls like ill-fitting investments and overpriced agencies, providing a framework for strategic spending, understanding P&L benchmarks, and ultimately, boosting your bottom line by making smarter, stage-appropriate financial decisions.
When was the last time you really dug into your profit and loss statement? I've been having A LOT of conversations about finance lately and it's got me worried about your profitability. CFOs are giving bad advice, programs you're investing in don't make sense for the stage of business you're at, agencies are ripping you off, and you're not putting nearly enough money in your pocket. Today we're diving into what you should think about and consider before investing in or out of something in your business, we're talking about the different types of programs that are typically available and who they're best for, plus we're talking about what numbers you should be shooting for on your P&L. _______ Links Mentioned The Lounge Marketing Membership https://bit.ly/3TqGNHy eCommerce Margin Statistics https://www.shopify.com/blog/profit-margin _______ Episodes Mentioned 229. Becoming an Inventory (and Finance) Genius with Ciara Stockeland https://ecommercebadassery.com/profit-first-for-product-based-businesses/ 228. How to Prep Your Business for Sale & Get Top Dollar with Christine McDannell of the Magnolia Firm https://ecommercebadassery.com/how-to-sell-your-ecommerce-business/ _______ Full Episode Show Notes http://ecommercebadassery.com/231 _______ Let's Connect Website: http://ecommercebadassery.com Instagram: http://instagram.com/ecommercebadassery Membership: http://ecommercebadassery.com/membership _______ Rate, Review, & Subscribe Like what you heard? I’d be forever grateful if you’d rate, review and subscribe to the show! Not only does it help your fellow eCommerce entrepreneurs find the eCommerce Badassery podcast; but it’s also valuable feedback for me to continue bringing you the content you want to hear. Review Here: https://podcasts.apple.com/us/podcast/ecommerce-badassery/id1507457683 This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy