#boutiqueaccountants

[queenbxtchmccoy]

Why inventory management is important? Effective inventory management is essential for ensuring a business has enough stock on hand to meet customer demand. If inventory management is not handled properly it can result in a business either losing money on potential sales that can’t be filled or wasting money by stocking too much inventory. Inventory management also helps your business in a number of other ways. Inventory management saves you money. Here's how: 💥 Avoid Spoilage If you’re selling a product that has an expiry date, like food or makeup, there’s a very real chance it will go bad if you don’t sell it in time. Managing inventory effectively helps you avoid unnecessary spoilage. 💥Avoid dead stock Dead stock is stock that can no longer be sold but not necessarily because it expired—it could have gone out of season, out of style, or otherwise become irrelevant. By adopting a diligent strategy, you can address this costly inventory mistake. 💥 Save on storage costs Warehousing is often a variable cost, meaning it fluctuates based on how much product you’re storing. When you store too much product at once or end up with a product that’s difficult to sell, your storage costs will go up. Avoiding this will save you money. Make sure to check my feed in the future to see more tips and facts on how to grow your store! Need help with your inventory? Book a call through the link in my bio, plus get my free book with tax savings info for your store! XO, Tiffany McCoy, CFO #boutiqueaccountants #boutiquesbookkeeper #ecommerce #ecommercetips #ecommercebookkeepers #quickbooks #shopify #shopifystore #shopifyinventory #shopifyexpert #shopifybookkeeping #shopsmall #shoplocal #bookkeepingservices #bossbabe #smallbusinesses #bookkeeping #bookkeeper #bookkeepingforsmallbusinesses https://www.instagram.com/p/CO30sfNFeql/?igshid=e3ijva354bfx

[queenbxtchmccoy]

"Financial Freedom" Such a great phrase, but what does it mean? According to oberlo.com, "Financial freedom is about taking ownership of your finances. You have a dependable cashflow that allows you to live the life you want. You aren't worrying about how you'll pay your bills or sudden expenses. And you aren't burdened with a pile of debt." The question is, are we working on achieving this goal?? If your answer is yes, then congratulations to you! If your answer is no, then reflect on it. Think of a reason why you desperately want to achieve financial freedom. XO, Tiffany #bookkeeping #dropshippingtips #dropshipping #ecommercetips #ecommercebusiness #boutiquefashion #boutiqueowners #boutiqueaccountants #ecommerce #bookkeepingforamazon #bookkeepingforshopify # @photosplitapp https://www.instagram.com/p/CLYORCTDrcv/?igshid=1ebcgo5mrb3sg

[queenbxtchmccoy]

I'm gonna show you how to sell that works 100% of the time. Get your best seller and create a sales page. Sell that one individual product. Give no variations. Really sell it, like describe how amazing it is and how their life will get better. Add real value. Add any freebies or unbox your offer. Example: if you include a case normally with the purchase, say this: “For a limited time, get a free hard case! Valued at $29.99 when you purchase today!” You get the idea. Try to unbox your offer entirely and see if you can get “3” free bonuses. Once they purchase, give them a one time offer and up sell them to two more sunglasses. Example: one time offer get two glasses for only $x.xx, normally $x.xx !!! You get the idea. But sell only one product, no variations. You should see a conversion rate of 9% if you follow this. REMEMBER VALUE!!!!! I can’t stress that enough. Dm me for any questions. Like, save, and comment if you found value to this post. XO, Tiffany McCoy, CFO #ecommercetips #boutiqueowners #ecommerce #boutiqueaccountants #ecommercestore #moneymindset #moneymanagement #moneymagnet #moneymanifestation #manifestmoney #therealmccoys #shopifyexpert #shopifyfinances #shopifytips #shopifystore #shopify #sheconquers #onlinebusiness #womensupportingwomen #smallbusinesshelp #femaleentrepreneur #womenentrepreneur #growthmindset #businessbasics #accounting #marketingstrategy #sellingonline #sellingonamazon #sellingfast https://www.instagram.com/p/CRczp7JsOTY/?utm_medium=tumblr

[queenbxtchmccoy]

🚨 Ecommerce Store Owners!! 🚨 Do you have a solid INVENTORY SYSTEM?? If "YES", good!! 💥You’ll know exactly how much product you have in real-time 💥Based on sales, you can project when you’ll run out so you can replace it before then. 💥Not only does this help ensure you don’t lose sales (critical for cash flow), it also lets you plan ahead for buying more by ensuring you have enough cash set aside. XO, Tiffany #Shopifystore #Amazonstore #Bookkeeping #Inventorymanagement #Ecommerce #shopifystoreowner #bookkeepingforshopify #mccoyvirtual #mompreneur #taxpreparer #bookkeeper #cfo #caas #fashionboutique #boutiqueowners #buildinganempire #boutiqueaccountants #yourigaccountant #yourigtaxpro #moneycoach #ecommerce #ecommercetips #ecommercebookkeepers https://www.instagram.com/p/CQmG10SsR3i/?utm_medium=tumblr

[queenbxtchmccoy]

🥳YOU EXCITEDLY LISTED A PRODUCT ONLINE!! It cost you a lot of money. But hey…. *CRICKETS* Few items got sold, or worst.... 0 items sold. Product Research is not a “GUESSING GAME”. If you have ideas you should VALIDATE them through DATA. You have to make sure that there is a great amount of search volume for it. You don’t want to produce products that would not sell. Make sure to search keywords relevant to your product and see what the data will tell you about the product. Through keyword research also, you potentially can search for winning items. Need help? Send me a message! XO, Tiffany McCoy #amazonseller #momofboys #quickbooks #mccoyvirtual #taxprep #productresearch #amazonppc #inventorymanagement #bookkeeping #dropshippingtips #dropshipping #ecommercetips #ecommercebusiness #boutiquefashion #boutiqueowners #boutiqueaccountants #boutiquebookkeeper #boutiquesofinstagram #onlinebusiness #shopify #shopifystore #shopsmall #shopifyinventory #sheconquers https://www.instagram.com/p/CQmGtros2RG/?utm_medium=tumblr

[queenbxtchmccoy]

Hey Store owners!! Couple questions for you... Does the idea of making large inventory purchases stress you out?⠀ ⠀ Are you selling out of product, need to restock but not sure you have enough cash to make the big purchase?⠀ ⠀ The BEST tool I have for you when it comes to cash flow is PLAN. Plan, evaluate, revise, and plan some more. ⠀ If you are familiar with your cash situation and how the cash flows in your business, you won't be scared to check your bank account balance. ⠀ ⠀ Restocking on inventory can take a lot of cash up front. Here's how to manage:⠀ 🔥 Don't buy too much. Ask your vendors if you can order in smaller quantities with the same price breaks.⠀ 🔥 Always price out different sources.⠀ 🔥 Ask your vendors for longer terms or payment plans. ⠀ 🔥 Plan ahead and set money aside. 🔥 Project your growth and know when a large purchase order will need to be placed.⠀ 🔥 Open a savings account specifically for new inventory purchases and replenish the account as you sell that inventory.⠀ 🔥 Consider funding a credit card (used wisely!) to help with cash upfront. ⠀ ⠀ Remember that needing to restock inventory is a positive thing. That means you're selling! Ordering more inventory doesn't have to be stressful if you are selling in a profitable way and planning ahead. If you have questions about the inventory in your store, send me a message or schedule a call with me through the link in my bio. XO, Tiffany McCoy, CFO ⠀ #ecommercetips #boutiquebookkeepers #fashionboutiques #boutiquefashion #boutiqueowners #boutiqueaccountants #yourigaccountant #bookkeepingservices #bookkeepingmovement #boutiques #ecommercestore #ecommercebookkeepers #inventorymanagement #inventory https://www.instagram.com/p/CPmZludl7xx/?utm_medium=tumblr

[queenbxtchmccoy]

Hey Store Owners! Let's talk about your store's KPI's and KPA's. You can measure them in 2 ways: 1. Lead measures 2. Lag Measures A lead measure is the number of people you get into your Facebook Group every week, or number of conversations you start with people online. A lag measure is the monthly income you generate because of that. Number of sales.  Lag measures are the results of the ACTIONs that you have taken. Key performance INDICATORS. (KPI's) Lead measures are action based. Key performance ACTIONS. (KPA's) If you need more customers this month then you probably need to make opportunities for customers to see you. You need to have opportunities to create sales.  To get those opportunities you need to take take the following ACTIONS: 💥 Post on social media and follow up with anyone who likes and comments on your posts. 💥 Start 25 conversations a day with your connections on Instagram, Facebook, TikTok, and/or Pinterest. 💥Go live once a week and invite people to share or buy That's all I have for today! Drop me a message if you want more info or schedule a call through the link in my bio. XO, Tiffany McCoy, CFO #mccoyvirtual #moneycoach #boutiqueaccountants #ecommerce #ecommercetips #ecommercebookkeepers #quickbooks #shopify #sheconquers #onlinebusiness #profitablebusiness #ecommercestore #ecommercebookkeeper #ecommercesolutions #ecommerceexpert #financegoals #moneymanifestation #manifestmoney #moneymindset https://www.instagram.com/p/CPjJ_Z_MkNM/?utm_medium=tumblr

[queenbxtchmccoy]

So you started a business... Now What?! What do the financial statements mean?? Let me tell you... 😎 Financial statements tell you where your money is going, where it's coming from, and how much you've got to work with. An essential objective of a business is to make a profit. The P&L statement shows the extent to which it has been successful in achieving this objective. If profit is reported too low, the business could be seen as undervalued; or if profit is too high, the business can cause a higher tax liability. A balance sheet tells you about the assets you own, and liabilities (debts) you owe, at a particular point in time. A balance sheet that doesn't balance is simply wrong. Without properly prepared financial statements, filing your taxes can be a nightmare. Not only do financial statements tell you how much income to report, but they also give you an overview of the expenses you've incurred, some of which can be written off as small business tax deductions. If you want to talk more about tax savings, set an appointment with me through the link in my bio! XO, Tiffany McCoy, CFO #bookkeepingservices #bossbabe #bossladymindset #bookkeepingforsmallbusinesses #momofboys #mccoyvirtual #moneycoach #boutiqueaccountants #ecommerce #ecommercetips #boutiqueowners #shopifyexpert #shopifyfinances #shopify #financialliteracy #financialfreedom #financialindependence #financialplanning https://www.instagram.com/p/CO3wR-yFEox/?igshid=10hcraul2zkv2

[queenbxtchmccoy]

✨I’m not looking for everybody, I’m looking for people who are looking for me! ✨ I have been blessed beyond words in the last 3 years BUT I have also put in a lot of blood, sweat, and tears for those blessings! I understand that this life isn’t for everyone, BUT it is for some. My goal is to attract as many people as possible who want to come along for the ride and take them all with me! 💪🏼🔥 Is that you?? 💕 XO, Tiffany #bookkeeping #dropshippingtips #dropshipping #ecommercetips #boutiqueowners #ecommerce #boutiqueaccountants #yourigaccountant #yourigtaxpro #BoutiqueBoss #bookkeepingservices #bossbabe #bossmom #bossladymindset #bossbabesociety #femaleentrepreneur #femaleceo #fashionboutiques #boutiquefashion #boutiquebookkeeper #mccoyvirtual #mompreneur #taxpreparer #taxes #money #shopify https://www.instagram.com/p/CMiK1XsDWwU/?igshid=1gkj50ad2cufu

[queenbxtchmccoy]

Never quit. 💯🔥 #qotd #neverquitattitude #momofboys #mccoyvirtual #mompreneur #taxpreparer #bookkeeper #cfo #bossbabe #bossladymindset #bossbabesociety #bookkeepingservices #boutiqueowners #buildinganempire #boutiqueaccountants #yourigaccountant #fashionboutiques #boutiquefashion https://www.instagram.com/p/CJpdLQHDORL/?igshid=jbmp4dpdm6je

[queenbxtchmccoy]

So you started a business... Now What?! What do the financial statements mean?? Let me tell you... 😎 Financial statements tell you where your money is going, where it's coming from, and how much you've got to work with. An essential objective of a business is to make a profit. The P&L statement shows the extent to which it has been successful in achieving this objective. If profit is reported too low, the business could be seen as undervalued; or if profit is too high, the business can cause a higher tax liability. A balance sheet tells you about the assets you own, and liabilities (debts) you owe, at a particular point in time. A balance sheet that doesn't balance is simply wrong. Without properly prepared financial statements, filing your taxes can be a nightmare. Not only do financial statements tell you how much income to report, but they also give you an overview of the expenses you've incurred, some of which can be written off as small business tax deductions. #taxes #taxtips #bookkeepingservices #bossbabe #bossladymindset #bookkeepingforsmallbusinesses #momofboys #mccoyvirtual #quickbooks #moneycoach #boutiqueaccountants #ecommerce #ecommercetips #boutiqueowners https://www.instagram.com/p/CH_yi4Ajxbs/?igshid=o6ixum9m0v8s