In this episode, Joie Roberts interviews Matt Remuzzi from CapForge, discussing the critical importance of bookkeeping and financial strategies for e-commerce sellers, particularly those on Amazon. They explore common mistakes made by sellers, the significance of understanding costs and profit margins, and when to hire a bookkeeper. Matt emphasizes the necessity of accurate financial records for business growth and the distinction between profit and cash flow. The conversation also touches on the challenges of scaling a business and the evolution of CapForge as a valuable resource for sellers.

Takeaways

Many Amazon sellers neglect bookkeeping, relying on Excel sheets.

A small percentage mistake can lead to significant financial loss.

Understanding your numbers is crucial for business success.

Hiring a bookkeeper is advisable once sales reach $10,000 a month.

Accurate financial records are essential for selling a business.

Profit and cash flow are two distinct but important metrics.

Slow and steady growth is preferable to rapid expansion.

E-commerce businesses often face cash flow challenges.

Investing in bookkeeping can prevent costly mistakes.

Working with knowledgeable partners can enhance profitability.

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