I’ve talked about the lack of financial education in eCom before, so let's help solve it
Introducing Obvi Finance School:
15 pages of our approach to P/L setup, financial forecasting, and management reporting
Follow, Like, RT & Comment "school" and I'll DM it to you
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Financial projections need to come from the CEO.
But they cant just be "hit this number because I want it"
You need to understand your business well enough to build a 13 week cash model, and end the 13 weeks within 10% of projections.
To build a cashflow model:
List all revenue sources
Project revenue by channel each week
Then build all variable costs BY CHANNEL
Different cost to sell on amazon vs wholesale
Gotta include marketing as well
Now add in fixed costs
And supplier payments.
This needs to be full encompassing.
Interest, content, fees, etc.
A 100% snapshot of your business.
Build it.
We just ended the first run of 13 weeks...
I was within 2% of projections.
Get to know your business and own your cashflow.