Before you scale and grow your e-commerce business, you have to understand your numbers first!

 

Returning to the podcast is Isaac Smith. Last time he was here, we talked about how to double your profit. Today, the focus will be on the key numbers that every entrepreneur should look out for and how it translates into your business.

 

Isaac and I also talk about how many entrepreneurs don’t know the full story of their books, and how they can improve on this.

 

Want more insights on bookkeeping and scaling your business?  Catch the rest of our discussion by joining the Mastermind Training!

Episode Highlights
Top things e-commerce businesses can improve on [4:29]
Which numbers should entrepreneurs focus on? [6:44]
Your books are the story of your business [10:36]
What we think is happening in our business can be wrong [12:26]
Profit is more important than revenue [15:06]
Gross margin is critical [18:49]
Business owners have the power to change profit margins [20:11]
Sometimes the problem is not in the numbers but the product itself [23:28]
The hardest thing is knowing what to spend time on [26:08]

About Our Guest

In 2019, Isaac Smith co-founded Summit eCommerce Advisors with a mission to help a thousand eCommerce businesses double their profit. He once owned an eCommerce business in 2014, which he recently sold. His goal is to share his wisdom with entrepreneurs through Summit eCommerce Advisors and his podcast, Next Level eCommerce, which covers various eCommerce stories and other important topics discussed by experts.





Resource Links:
Buying Online Businesses Website (https://buyingonlinebusinesses.com) 
Download the Due Diligence Framework (https://buyingonlinebusinesses.com/freeresources/)
Visit Niche Website Builders and get EXCLUSIVE OFFERS as a BOB listener (https://www.nichewebsite.builders/bob/)
Check out Odys’ great deals (http://odys.link/bobpodcast)
Learn more about Isaac’s business (https://summitecommerce.co)
Watch Part 2 by joining us at the Mastermind Training (buyingonlinebusinesses.co/innercircle)

Connect with Jaryd Krause of Buying Online Businesses:
Follow on Facebook: https://www.facebook.com/JarydKrause1
Subscribe on Youtube: https://www.youtube.com/channel/UCQ3g6G2USlnq7EgnUsajTBw

See omnystudio.com/listener for privacy information.

Before you scale and grow your e-commerce business, you have to understand your numbers first!
&nbsp;
Returning to the podcast is Isaac Smith. Last time he was here, we talked about how to double your profit. Today, the focus will be on the key numbers that every entrepreneur should look out for and how it translates into your business.
&nbsp;
Isaac and I also talk about how many entrepreneurs don&rsquo;t know the full story of their books, and how they can improve on this.
&nbsp;
Want more insights on bookkeeping and scaling your business?&nbsp; Catch the rest of our discussion by joining the Mastermind Training!
Episode Highlights
<ol>
<li aria-level="1">Top things e-commerce businesses can improve on [4:29]</li>
<li aria-level="1">Which numbers should entrepreneurs focus on? [6:44]</li>
<li aria-level="1">Your books are the story of your business [10:36]</li>
<li aria-level="1">What we think is happening in our business can be wrong [12:26]</li>
<li aria-level="1">Profit is more important than revenue [15:06]</li>
<li aria-level="1">Gross margin is critical [18:49]</li>
<li aria-level="1">Business owners have the power to change profit margins [20:11]</li>
<li aria-level="1">Sometimes the problem is not in the numbers but the product itself [23:28]</li>
<li aria-level="1">The hardest thing is knowing what to spend time on [26:08]</li>
</ol>
About Our Guest
In 2019, Isaac Smith co-founded Summit eCommerce Advisors with a mission to help a thousand eCommerce businesses double their profit. He once owned an eCommerce business in 2014, which he recently sold. His goal is to share his wisdom with entrepreneurs through Summit eCommerce Advisors and his podcast, Next Level eCommerce, which covers various eCommerce stories and other important topics discussed by experts.
 
Resource Links:
<ul>
<ul>
<li aria-level="1">Buying Online Businesses Website (<a href="https://buyingonlinebusinesses.com/freeresources/">https://buyingonlinebusinesses.com</a>)&nbsp;</li>
<li aria-level="1">Download the Due Diligence Framework (<a href="https://buyingonlinebusinesses.com/freeresources/">https://buyingonlinebusinesses.com/freeresources/</a>)</li>
<li aria-level="1">Visit Niche Website Builders and get EXCLUSIVE OFFERS as a BOB listener (<a href="https://www.nichewebsite.builders/bob/">https://www.nichewebsite.builders/bob/</a>)</li>
<li aria-level="1">Check out Odys&rsquo; great deals (<a href="http://odys.link/bobpodcast">http://odys.link/bobpodcast</a>)</li>
<li aria-level="1">Learn more about Isaac&rsquo;s business (<a href="https://summitecommerce.com">https://summitecommerce.co</a>)</li>
</ul>
</ul>
<ul>
<li aria-level="1">Watch Part 2 by joining us at the Mastermind Training (<a href="http://buyingonlinebusinesses.co/innercircle">buyingonlinebusinesses.co/innercircle</a>)</li>
</ul>
Connect with Jaryd Krause of Buying Online Businesses:
<ul>
<li aria-level="1">Follow on Facebook:<a href="https://www.facebook.com/JarydKrause1"> https://www.facebook.com/JarydKrause1</a></li>
<li aria-level="1">Subscribe on Youtube:<a href="https://www.youtube.com/channel/UCQ3g6G2USlnq7EgnUsajTBw"> https://www.youtube.com/channel/UCQ3g6G2USlnq7EgnUsajTBw</a></li>
</ul>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.

Hosted by Jaryd Krause who went from plumber to creating an online business empire through buying websites for passive income. 

This podcast will unfold his secrets as you explore the highs, lows and light bulb moments of his personal journey in each episode. He will show you that no matter where you are in life an alternate lifestyle is more than possible. You will gain the knowledge you need to start buying online businesses yourself and live a fulfilling lifestyle.

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