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Archives for CFO

What Gets Measured, Gets Managed (Important Financial Tip for eCommerce Businesses)

If you are an own a successful eCommerce business you should be able to immediately identify the primary financial goal you are focused on driving in your business this week, month, quarter and year.

✔️Increase Revenue?

✔️Increase Gross Profit Margin?

✔️Increase Net Profit?

✔️Reduce Taxes?

You should be measuring your performance with relevant reporting that will allow you to monitor and make the correct adjustments to reach your specific goals based on benchmarks and relevant KPIs.

If you are going to scale your business perfecting your accounting system is only one step to financial success.

If you do not properly manage your accounting, how will your accurately determine your business performance on an ongoing basis?

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

To quote Peter Drucker: What gets measured, gets managed.

If you expect financial success you must properly track AND measure your financial performance frequently.

At least monthly, if not weekly.

How often do you review your finances and KPI’s?

This can mean thousands and cumulatively millions of dollars for your business and family.

We’re here to partner with you to take your company to the next level!

These are just some of the strategic financial services we provide to E-Commerce and Digital Businesses to increase their bottom-line and manage their cash flow:

✔️Profit Improvement

✔️Pricing Strategies

✔️Cash Flow Management & Forecasting

✔️Inventory Management & Forecasting

✔️Sales Forecasting & Budgeting

✔️Key Performance Indicators, Benchmarking & Financial Ratio Analysis

✔️Cost Controls & Financial Strategy

✔️Tax Planning & Tax Preparation

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

Read more

2 Financial Hacks for Scaling eCommerce Marketing Campaigns

I know you’re thinking that my accountant doesn’t worry about my marketing and business growth.

They’re totally REACTIVE.

Not PROACTIVE.

And I know what you mean.

Most CPA’s fall into this trap.

The truth is most accountants are just a cost.

The cost of getting the books done.

But when you work with me.

It’s not just about basic accounting.

It is about increasing profits, improving cash flows and effectively managing your inventory.

To scale an eCommerce company you need to combine your financial data with your marketing data.

Your average order value (AOV) is the average amount of money each of your customers spends per order.

AOV and Gross Margin Rate determines your average margin per order.

This shows you how much you can afford to spend on new customers to ensure that their first order is profitable.

This is key.

You need to understand these numbers per each product, customer and sales channel.

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

Like one client we recently worked with.

I recently worked with a client on assessing their AOV and Gross Margin along with their customer acquisition cost (CAC) and return on ad spend (ROA).

We discovered that due to a low average order value and customer lifetime value their return on ad spend was significantly low.

This was preventing this eCommerce company from scaling their marketing campaigns which was hindering their overall business growth.

They had a good markeintg team but because they did not understand the financials they did not understand this issue.

All they knew were that their ads were converting.

We used a combination of three pricing strategies that enabled us to both increase their gross margins and increase their average order value.

Their first customer orders are now highly profitable rather than being run at very low margins.

This has enabled them to already scale their company from $1.1M to $2.15M and are on track for $4M or more currently.

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

👇 I recorded a video going over this below

We’re here to partner with you to take your company to the next level!

These are just some of the strategic financial services we provide to E-Commerce and Digital Businesses to increase their bottom-line and manage their cash flow:

✔️Profit Improvement

✔️Pricing Strategies

✔️Cash Flow Management & Forecasting

✔️Inventory Management & Forecasting

✔️Sales Forecasting & Budgeting

✔️Key Performance Indicators, Benchmarking & Financial Ratio Analysis

✔️Cost Controls & Financial Strategy

✔️Tax Planning & Tax Preparation

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

Read more

How Do Your Books Look? Top Accounting Mistakes for eCommerce.

How do your books look?

All too often I see business owners scrambling to get their accounting records together for lenders or for tax season at the last minute.

This means that on a month to month basis they are not tracking their financial performance.

They are running their company blind.

Would you get on a uber with a driver that doesn’t know their routes and doesn’t check their odometer?

That is how many eCommerce businesses are operating.

Implementing financial systems and analyzing financial reports is usually not the primary focus of eCommerce business owners.

This is understandable since business owners focus on many competing priorities such as managing vendors, employees, marketing, fulfillment and so on.

Not consistently knowing your numbers and tracking your KPI’s is akin to driving blind.

You will never reach you destination.

A CFO can run relevant key reports, review them against relevant benchmarks and KPI’s and provide relevant business advice and insights to drive key financial results in your business.

Are you driving your business blindly? 

👇 I recorded a video going over this below

If you expect financial success you must properly track AND measure your financial performance against relevant metrics frequently.

This all starts with a proper accounting system.

At Camuso CPA, we partner with your company to not only handle your basic accounting but to provide ACTIONABLE and PROACTIVE financial insights that improve your business and increase your profits.

We can provide an outsourced CFO solution for a small fraction of the price of a full-time CFO.

Whether it’s improving your gross margin through pricing strategies based on key performance indicators.

Or improving your cash flow and inventory management with effective forecasting and ratio analysis.

Or customizing your accounting process to effectively track income, expenses and key performance indicators on a per product, customer or sales channel basis.

We’re here to partner with you to take your company to the next level!

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

These are just some of the strategic financial services we provide to E-Commerce and Digital Businesses to increase their bottom-line and manage their cash flow:

✔️Profit Improvement

✔️Pricing Strategies

✔️Cash Flow Management & Forecasting

✔️Inventory Management & Forecasting

✔️Sales Forecasting & Budgeting

✔️Key Performance Indicators, Benchmarking & Financial Ratio Analysis

✔️Cost Controls & Financial Strategy

✔️Tax Planning & Tax Preparation

Read more

Want me to Benchmark You Against Your eCommerce Competitors?

Once you understand your gross profit per product, customer and sales channels.

And how it compares to others.

We need to start to Benchmark.

Why?

Are you pricing your products correctly?

Is your customer acquisition costs too high?

Is your return on ad spend too low?

Is your average order value and customer lifetime value too low to drive profit across your marketing campaigns?

And who’s responsible?

Is it your accountant?

Is it You?

Is it your Marketing Manager?

Your CFO?

This can change.

It can improve.

But it will take detailed review.

Specific diagnosis.

Outlining of a plan of action.

And a commitment to change.

We do this with our eCommerce clients every week.

👇 I recorded a video going over this below

Just like we did with one of our most recent clients….

After discussing his current gross margin rates compared to relevant industry benchmarks we realized something had to change.

By adjusting the pricing of specific products and bundling specific low and high margin items together we increased their gross margin by 10.5%.

This increased net profits by over $120,000.

We did this in just 16 days.

This $120,000 in profit is being reinvested back into the business expand his marketing campaign for the eCommerce business and accelerate sales.

Ready to get the same results?

These are just some of the strategic financial services we provide to E-Commerce and Digital Businesses to increase their bottom-line and manage their cash flow:

✔️Profit Improvement

✔️Pricing Strategies

✔️Cash Flow Management & Forecasting

✔️Inventory Management & Forecasting

✔️Sales Forecasting & Budgeting

✔️Key Performance Indicators, Benchmarking & Financial Ratio Analysis

✔️Cost Controls & Financial Strategy

✔️Tax Planning & Tax Preparation

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

Read more

So How Much Does a Good CFO Cost My Business?

If you are a business owner or investor you are solely responsible for the decisions that you make.

Your business will live and die based on the quality of your decision-making process, knowledge and due diligence.

Managing the financial and accounting functions in your business will drive your overall success.

There is a very large difference between a basic accountant, a controller and a CFO.

A good general rule of thumb is that any business above $1M in revenue will most likely need a controller at least but ideally a CFO.

As you grow to $5M to $20M working with the right CFO is imperative to your business success.

As you grow to beyond $40M you should handle these processes with full time hires.

The average salary for a full-time CFO is about $150,000 and can range from $120,000 – $200,000+.

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

As you begin to scale and grow your business a traditional accountant that you see once per quarter or once per year is not sufficient.

You need a company you partner with as an extension of your financial team that provide proactive advice that drives financial outcomes.

At Camuso CPA, we partner with your company to not only handle your basic accounting but to provide ACTIONABLE and PROACTIVE financial insights that improve your business and increase your profits.

We can provide an outsourced CFO solution for a small fraction of the price of a full-time CFO.

Whether it’s improving your gross margin through pricing strategies based on key performance indicators.

Or improving your cash flow and inventory management with effective forecasting and ratio analysis.

Or customizing your accounting process to effectively track income, expenses and key performance indicators on a per product, customer or sales channel basis.

We’re here to partner with you to take your company to the next level!

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

👇 I recorded a video going over this below

These are just some of the strategic financial services we provide to E-Commerce and Digital Businesses to increase their bottom-line and manage their cash flow:

✔️Profit Improvement

✔️Pricing Strategies

✔️Cash Flow Management & Forecasting

✔️Inventory Management & Forecasting

✔️Sales Forecasting & Budgeting

✔️Key Performance Indicators, Benchmarking & Financial Ratio Analysis

✔️Cost Controls & Financial Strategy

✔️Tax Planning & Tax Preparation

If you’re ready to take the next step to scale your eCommerce business, book your 1-on-1 meeting with me TODAY!

Read more

3 Hacks For Improving Cash Flow for eCommerce Businesses

I know you’re thinking that my accountant doesn’t worry about my cash flow.

They’re totally REACTIVE.

Not PROACTIVE.

And I know what you mean.

Most CPA’s fall into this trap.

The truth is most accountants are just a cost.

The cost of getting the books done.

But when you work with me.

It’s not just about basic accounting.

It is about increasing profits, improving cash flows and effectively managing your inventory.

For most eCommerce businesses, cash flow constraints are often the biggest roadblock for them to scale their business.

An otherwise healthy business can fail due to lack of cash flow management even if their business is highly profitable.

I included two important hacks for increasing your cash flow below.

If you’re ready to take the next step, book your 1-on-1 meeting with me
TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

👇 I recorded a video going over this below

Forecast & Manage Inventories

Inventory turnover can be one of the most important financial ratios for ecommerce business owners to monitor and manage.

It measures the liquidity of your inventory and can help you determine how to increase sales.

If you carry too much inventory you are tying up cash flow that could be providing you a return by expanding marketing, employees, etc.

This includes the hidden costs of inventory that’s not turning over, including space, insurance, taxes and capital costs.

Monitor this on a monthly basis in your financial dashboard.

The key to avoiding excess inventory is improving your sales forecasting.

There are a variety of strategies that can be used to improve the inventory turnover ratio including increasing demand for inventory through marketing campaigns, effectively negotiating with key suppliers, improving overall inventory purchasing strategies, liquidating inventory and/ or utilizing various pricing and packing strategies to increase overall sales value.

If you’re ready to take the next step, book your 1-on-1 meeting with me
TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Forecast Sales & Cash Flows

The insight into your current operational cash flows and planning your future cash flows are major steppingstones in scaling your business.

Key Performance Indicators for cash flow management are determined by forecasting sales and cash flow.

Monitor this on a monthly basis in your financial dashboard.

The key to managing cash flows is using a variety of financial assessments in combination with cash flow forecasts to determine the health of your business and monthly cash flow.

There are a variety of strategies that can be used to improve cash flows including strategic negotiations with suppliers, managing inventory purchases, cutting non-critical overhead costs, optimizing financing options and much more.

At Camuso CPA, we partner with your company to not only handle your basic accounting but to provide ACTIONABLE and PROACTIVE financial insights that improve your business and increase your profits.

Whether it’s improving your gross margin through pricing strategies based on key performance indicators.

Or improving your cash flow and inventory management with effective forecasting and ratio analysis.

Or customizing your accounting process to effectively track income, expenses and key performance indicators on a per product, customer or sales channel basis.

We’re here to partner with you to take your company to the next level!

If you’re ready to take the next step, book your 1-on-1 meeting with me TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Read more

Do I Need An Accountant or CFO For My eCommerce Business?

Do you have serious goals for your eCommerce business?

Are you trying to hit your first $1 Million?

Or scale up to your first $5 Million?

If so, a basic bookkeeper isn’t going to meet your needs.

You need more.

Good news.

At Camuso CPA we do more.

Like one of our recent new clients that signed up for a CFO engagement.

After analyzing their balance sheet, calculating their inventory turnover ratio and appropriately benchmarking their turnover on a per product basis I determined that the inventory turnover ratio for a specific product was way too low.

After discussing the current sales performance and inventory levels we determined that we had to liquidate this inventory ASAP.

We used a variety of strategies to quickly liquidate this inventory including using this as a promotional tool to increase average order values and selling on different sales channels at discounts. This eCommerce business

If you’re ready to take the next step, book your 1-on-1 meeting with me
TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Accounting is the language of business.

What does that mean for your eCommerce business?

Accounting has been a celebrated throughout history as the foundation for economic growth not only for society but also YOUR business.

Improving your accounting systems not only protects your cash flow and assets from the IRS but also gives you the tools to improve your business by planning for the future.

The truth is, most accountants are just a cost.  The cost of getting the books done.

But when you work with me.

It’s not just about accounting.

At Camuso CPA, we partner with your company to not only handle your basic accounting but to provide ACTIONABLE and PROACTIVE financial insights that improve your business and increase your profits.

👇 I recorded a video going over this below

Whether it’s improving your gross margin through pricing strategies based on key performance indicators.

Or improving your cash flow and inventory management with effective forecasting and ratio analysis.

Or customizing your accounting process to effectively track income, expenses and key performance indicators on a per product, customer or sales channel basis.

We’re here to partner with you to take your company to the next level!

If you’re ready to take the next step, book your 1-on-1 meeting with me TODAY!

If you’re ready to take the next step, book your 1-on-1 meeting with me
TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Read more

2 Important Hacks For Increasing Profit For eCommerce

I know you’re thinking my accountant doesn’t increase profit.

They’re totally REACTIVE.

Not PROACTIVE.

And I know what you mean.

Most CPA’s fall into this trap.

The truth is most accountants are just a cost.

The cost of compliance with taxes.

The cost of getting the books done.

But when you work with me.

It’s not just about compliance.

It is about increasing profits, improving cash flows and effectively managing your inventory.

I included two important hacks for increasing your profits below.

If you’re ready to take the next step, book your 1-on-1 meeting with me
TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Track and Benchmark Gross Profit Margins by Product, Sales Channels and Customers/Customer Groups

Gross margin is one of the key metrics for e-Commerce businesses. Gross margin is a metric that measures your profits as a percentage of revenue.

Tracking your gross margin by products, sales channels and customers is the first step.

After you have this data you need to compare yourself to your competitors.

Gross margin percentages are generally between 30% to 40% for successful e-commerce businesses although this rate varies significantly by annual revenue, industry and product categories.

To improve gross margins for your e-commerce store, you can either increase your revenue per product or decrease the cost of each sale.

👇 I recorded a video going over this below

 

Track and Benchmark Average Order Value by Product, Sales Channels and Customers/Customer Groups

Average Order Value and Gross Margin Rate determines your average margin per order.

This shows you how much you can afford to spend on new customers to ensure that their first order is profitable.

Average order values significantly varies by annual revenue, industry and product categories.

Average Order Value can be improved with a variety of methods including cross-selling, up-selling, free shipping with minimum purchase offers, volume discounts, donation incentives, money-back guarantees or coupons.

Whether it’s improving your gross margin through pricing strategies based on key performance indicators.

Or improving your cash flow and inventory management with effective forecasting.

Or customizing your accounting process to effectively track income, expenses and key performance indicators on a per product, customer or sales channel basis.

We’re here to partner with you to take your company to the next level!

If you’re ready to take the next step, book your 1-on-1 meeting with me TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Read more

I Already Have A Bookkeeper For My eCommerce Business

I know you probably already have a bookkeeper.

So did one of our current CFO clients I was recently speaking with

I need to ask you a few questions….

But first, I want to share a HUGE win with you from one of our current CFO clients I was recently speaking with.

But first, the questions….

Would you mind taking a few minutes to read through these?

✔️Do you know your gross sales and net profit per each product you sell?

✔️Per each sales channel?

✔️Per each customer/customer group?

✔️Per each location?

✔️Do you know your gross margin per each product you sell?

✔️Per each sales channel?

✔️Per each customer/customer group?

✔️Per each location?

✔️Do you review your financial statements and key performance indicators weekly? Monthly?

✔️Do you benchmark your gross margins against industry averages?

✔️Do you know your average order value?

✔️Do you know your customer lifetime value?

✔️Are you tracking your customer acquisition costs and return on ad spend?

✔️Are you properly forecasting and managing your operational cash flow?

✔️Are you properly forecasting and managing your inventory?

✔️Do you know your inventory turnover ratio?

And that’s just a handful of a few HUNDRED questions I had when I started working with eCommerce businesses.

If you’ve got those questions rolling around in your head too…

If you’re ready to take the next step, book your 1-on-1 meeting with me TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

👇 I recorded a video going over this below

The truth is that nowadays people are chasing every fancy quick fix.

But they’re ignoring the FUNDAMENTALS.

We teach hard working people like you to do it the RIGHT WAY.

BUT…

I’m not going to lie.

Most people that try and build a business eCommerce business fail.

But that doesn’t mean it can’t be done.

If your goal is financial freedom.

And you are looking to take things to the next level, let’s talk.

If you’re ready to take the next step, book your 1-on-1 meeting with me TODAY!

https://go.camusocpa.com/schedule-ecommerce-cfo-ss39611765

Read more