eCommerce is a cash-intensive business model. Capital is often tied up in inventory, or with a supplier. So there is a delicate balancce to managing cash — when to reinvest it for growth, and when to pull cash flow. This is where a CFO can help with strategic growth, by understanding this. Rob te Braake is Founder of Insight Matters, a financial consultancy that helps eCommerce businesses translate financial data into actionable insights in order to have clear directions to make your business thrive. In this conversation, Rob shares the process he uses to analyze a business’s metrics to improve profits. He calls it a Financial Game Plan. WHERE DO YOU WANT TO GO? What are your goals? It is crucial to know where do you want to take your business HOW WILL YOU GET THERE? We set the KPI's that will pave the way to the realization of your goals WHAT DATA DO YOU NEED What information do you need to track the metrics, and where do these come from WHERE ARE YOU ON THE WAY What your bookkeeper needs to change so you see where you are.
Learn more about how to get your Financial Game Plan, plus an exclusive offer for Cart Overflow:
https://financeinsightmatters.com/cartoverflow/
Highlights:
2:28 - How to balance fast growth and inventory and cash flow management.
3:36 - The key financial metrics you need to be monitoring every day.
6:30 - What do you need to look at to do your financial audit?
17:31 - The tools, and process, to effectively manage your ecommerce finances.
20:42 - What levers are available to pull more profits from your finances?