Money is king. But not everyone likes dealing with numbers.
We’re going to help you with that—minus the overwhelming jargon part. 😉
- Cash flow management 🪙
- Guaranteed PPC strategies ⭐
- Best accounting software 🧮
- Maintaining a healthy cash flow 💲
BIG IDEA
Cash flow management isn’t just a fancy term tossed around in finance meetings. It’s the lifeblood of your business—how you ensure you have enough funds to keep the lights on.
🗣️ As defined by Shopify, keeping your cash flow in check lets you enjoy game-changing perks, such as:
- Predicting cash flow dips. Prepare for a rainy day. With good cash flow management, you can see those rainy days coming—whether it’s an unplanned sale or a late shipment—and be ready for them. 🛡️
- Gaining valuable insights, especially when to expand your business. By keeping track of your finances, you'll know exactly how much money you have to fuel your business growth. Just remember that not all the money you see is free to use, as some are tied up in upcoming expenses.
- Boosting your advantage. Thinking about getting a loan from a bank or asking your suppliers for extended credit? Crunching those numbers can help you gain trust and new opportunities. ✨
- Enhancing budget precision. Cash flow projections keep things grounded. They give you the real picture, allowing you to make informed decisions even when the numbers aren't quite what you hoped for.
So, how do you efficiently manage your cash flow?
- List your financial obligations—from rent to loan repayments—and map out when they’re due. This bird’s-eye view of your expenses sets the stage for effective cash flow planning.
- Predict your revenue using a mix of historical data and cautious optimism. Take into account any expected sales highs and lows.
- Create a personalized cash flow spreadsheet based on your actual transactions. Fill in every expense and revenue source, and be as detailed as possible! 📑
- Keep your cash flow spreadsheet updated like clockwork. A smooth sailing business requires regular maintenance so you'll never lose sight of your financial horizon.
By following the steps above, you’re ensuring not only your business stability but also your peace of mind. Because when you’re in the know, you're the captain of your ship—and that sense of control is priceless.
So, don’t let the numbers scare you. Instead, let them guide you through the turbulent waters of ecommerce finances. 🌊
TOGETHER WITH SELLER INTERACTIVE
The secret to a guaranteed PPC advertising success
If there's one common denominator among successful sellers, it's how much they rave about the ✨magic ✨ of PPC advertising. Understandably so, it's definitely your best friend in boosting your product's visibility and growing your business—when done right.
🛑 But like any other tool, PPC advertising has its challenges, such as:
- Intense competition: With countless sellers in Amazon's vast marketplace, standing out is a big challenge.
- Complex campaign management: Navigating costly and ever-changing campaign intricacies can overwhelm new and experienced sellers.
- Demanding keyword research and targeting: High traffic is the holy grail in Amazon selling.
And for many sellers, the combination of these challenges and the need to juggle day-to-day operations can drain and stretch their resources—and patience—thin.
🏆 Good thing there are experts
Like Seller Interactive! Their PPC Management Services are everything you're looking for in a trustworthy partner. They offer solutions for:
- Sponsored Products, making sure your ads are visible by placing them in search results and detail pages for maximum exposure;
- Sponsored Brands, highlighting your brand logo and custom headline on customers' search results;
- Product photography, providing eye-catching, policy-compliant product images; and
- Keyword research, finding relevant keywords to target the right customers and leveraging negative keywords to optimize your ad budget.
👌 From stressful to stress-free
It's the promise Seller Interactive makes through its comprehensive PPC advertising services. Let them do the heavy lifting so you can focus on other aspects that will make your business the talk of the ecommerce town.
BITES OF THE WEEK
- Spread And Multiply: Do you know how to set up your Amazon cash flow spreadsheet?
- Seller Fee Refresher: Here's a quick review of the costs of selling on Amazon.
- Trillion-level Sales: Latest statistics reveal U.S. sales top $2 trillion in 2023.
TRENDING TOPIC
Top 3 accounting software for Amazon businesses
As the hottest and largest online marketplace, Amazon offers ample opportunities for significant growth. However, navigating its financial landscape, especially the taxes and the FBA fees, can be overwhelming. 🫨
Although you have the option to do your accounting yourself, Link My Books recommends you use these 3 accounting software to ensure convenience and accuracy:
1. QuickBooks Online
- Top features: Cash flow monitoring, invoicing, sales forecasting, mileage tracking, and inventory management. Additionally, its HM Revenue and Customs (HMRC) compliance and VAT error checker ensure precise VAT returns.
- Ease-of-use and support: While some basic accounting skills are required, the software provides learning materials, phone and chat support, and a community forum.
- Pricing: From $18 to $38 per month, with a 30-day free trial available.
2. Xero
- Top features: Core accountancy functions, bill payments, invoicing, and cash flow management. It’s also HMRC-compatible for managing and submitting VAT returns directly on the platform.
- Ease-of-use and support: Offers user-friendly Amazon accounting tools and educational resources, including courses and certifications. Subscribers can also access 24/7 assistance.
- Pricing: From $15 to $78 per month, with a 30-day free trial offered.
3. Zoho Books
- Top feature: If you’re on a tight budget, Zoho Books is your best choice. It offers a free option with basic features, such as automated payment reminders and mileage tracking.
- Important note: Free accounting software may have limitations that are not suitable for business scaling.
💬 In summary
Selecting the right accounting software is crucial for sellers. Whether opting for comprehensive features or cost-effective options, the important thing is finding a way to simplify your financial management to save time and reduce stress.
ACTIONABLE ADVICE
8 tips for maintaining a healthy cash flow
Did you know that 82% of small businesses bite the dust due to cash flow issues?
💡 If you don’t want to be part of that statistic, here are some tricks from Assureful to keep your cash flow healthy:
- Keep tabs on your money. Sounds simple, right? Yet, many aren’t thorough in monitoring where their cash is going and coming. Don’t be like them—track your incomings and outgoings to dodge financial pitfalls.
- Optimize your inventory. See what's selling like hotcakes and what's gathering dust. This way, you can allocate funds wisely for restocking and keep your cash flowing smoothly.
- Shorten that cash cycle. The quicker you turn inventory into cash, the better. It means less money tied up in stock and more liquidity for your business.
- It PAYS to be protected. Insurance matters, especially as you grow. Pay-As-You-Sell (PAYS) insurance scales with your success, offering protection without the hefty upfront costs. Plus, Amazon requires insurance, so you don’t have much choice. 🔐
- Negotiate with suppliers. Lowering your inventory costs gives your finances a well-deserved boost. But remember to go for quality over quantity always.
- Forecast your cash flow to anticipate slow months and seize growth opportunities with confidence.
- Diversify your products and sales channels. Doing so safeguards your cash flow against market fluctuations.
- Trim unnecessary expenses. Take a good hard look at your expenses and see where you can cut back. You'd be surprised how those little savings can add up and make a big difference to your bottom line.
🔥 Keep calm and let the money flow
Controlling (and increasing) your cash flow doesn’t have to be stressful. With some planning and smart decisions, you can keep the money flowing and your business flourishing.
How do you manage your cash flow? Share your tips by replying to this email. ✉️
