Darryl Pen @onpointctrller
Supporting the growth of 7-8 figure Amazon & DTC Brands | 10+ Years working with 7-9 Figure + Brands | Founder @ On Point Controller onpointcontroller.com Los Angeles, CA Joined June 2022-
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How to Avoid Thousands of Dollars in Bookkeeping Clean-Up Costs Bookkeeping left unchecked leads to hours of cleanup work which can cost you thousands of dollars. Here’s how to avoid these headaches and take responsibility for your business finances:…
This. Take the extra step and protect yourself from fraudsters.
This. Take the extra step and protect yourself from fraudsters.
Allocating expenses after budgeting for profit will make sure you stay away from cash flow issues.
Reframe: A good accountant should make you more money - not be a cost sink on your P&L. A good accountant helps you: -Streamline your accounting workflows to decrease errors and save time on manual tasks. -Unlocks hidden profit opportunities by finding ways to increase revenue…
You might have heard about "working capital management," but do you really know what it means? Working capital management is about making sure you have enough money ready to pay for your short-term bills while using your money wisely. There are three important parts to this:…
Knowing your numbers is a competitive advantage. By establishing financial systems that scale with your brand - you have the basis for real time actionable insights that can drive your bottom line. This includes -Cloud based accounting software that connects to your bank…
Doubling your profits in 12 months isn't hyperbole. A lot of brands I've worked with operate at <5% profit margins.
Setting aside a fixed percentage of profit to a separate account ensures you aren’t chasing your tail wondering where your money went at the end of the year.
95% of brands focus on traditional metrics like revenue and expenses and wonder why they underperform. Instead of making Profit their #1 priority They emphasize revenue growth which leads to Weak Profit Margins Cash Flow Issues Inefficient Resource allocation Let me…
Clients don’t pay me to enter data into their accounting system. They pay me to - 1. Understand the complexities of their business 2. Set up customized financial systems and controls based on those complexities 3. Translate the numbers from their financial reporting into…
Your local firm is used to dealing with plumbers, restaurant owners, and dentists - local businesses that have very simple cash basis accounting. Dealing with Amazon / Shopify payouts, complex fee structures, and tracking inventory costs is a whole different beast.
Think of your accounting software as your financial hub where every single transaction is stored. Each transaction is classified into the proper bucket (Chart of Accounts) And each account is reflected on your financial statements where external parties use this information to…
Everyone understands COGS but are you accurately recording this in your bookkeeping? Here’s an example: Say we look at your inventory and you have 1500 on hand at the beginning of the month - 500 units purchased @ $5 landed 500 units purchased @ $6 landed 500 units…
I optimize for profit, not revenue. It's easy to be in denial about your business when the orange (or green) bars are at all time highs. But way too often, brand owners show me their numbers and their take home profits are lower than expected.
My dad used to be a shrimper in Louisiana - had a boat and everything. Every year he’d do his bookkeeping with an excel spreadsheet and a folder full of receipts. If it ain’t broke don’t fix it…I guess.
Profit Focused Principles for E-Commerce Optimize for Profit not Revenue. Bookkeeping is the foundation. Cash Flow is King Worked for a company that scaled from $498M to $739M focusing on these 3 ideas. They doubled their profits in 12 months.
When starting a new engagement, the initial clean up process takes about 30 days. Often times brand owners think their books are solid but I usually find some sort of flaw after the initial audit. Bank balances don’t tie Fixed assets aren’t being depreciated Transactions are…
Your accounting systems should operate like clockwork each month. It’s supposed to be boring and routine. If it isn’t routine, there’s a problem with A) Your Bookkeeping B) Your Business
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How Amazon Competes Against Third Party Sellers: What you can do and what you have to live with. I own and run one of Amazon’s largest direct vendor accounts. We sell over 600k skus to Amazon via Vendor Central aka First Party aka 1P. I am one of a small number of “Strategic…
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@herrmanndigital It’s not about being popular David. It’s about making content that YOU LOVE. Don’t give in.
Nobody likes a know it all. But on Twitter you excel being one apparently.
This was not on my bingo card
How much yall want for TikTok? I’ll buy it. @tiktok_us
@evanteague13 Boom👊 Now go even harder. Get hungry for MORE like a fucking psycho Don’t just survive, thrive
Your next step always falls right into your fucking lap, right under your fucking nose IF you decide to take the here & now seriously No matter how small, unimportant, or trivial you think what you are doing now is If you choose to DOMINATE your fucking day, doors fly the fuck…
From a psychologist friend: "Adjusted for the subjective increase in how fast time passes, life is half over by 23 or 24. Don't waste time."
Don’t be afraid to ask for what you want. If you don’t ask, the answer is always no. If you do ask, the answer could be yes. No ASK? No GET.
Making $1 on the internet changes your entire mindset around building income online. Once you realize you can make $1, you know you can make $10. If you can make $10, you can make $1,000. And it's easier than you think. Here's how to make your first $1 online (in 4 steps):…
Had a lot of stuff go wrong in ~8 years of selling on Amazon. Inventory accidentally destroyed. Fake 1 star review attacks that killed CVRs. Products wrongly restricted. Plenty more. 95% of issues got resolved. But they were all months-long sagas that required patience. (1/2)
Lesson #1: Hire Single Threaded Leaders For every project hire ONE leader. Assign each person ONE thing Then gauge them on that ONE goal. Why? clear roles = less conflict less conflict = more time building
Big population of normies who are perpetually online are: single or with someone they hate obese angry no peers unsuccessful socially awkward This is why world seems like its burning. Because so much of the content and engagement online is made by the above for the above.
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Amazon should raise the base price to qualify for the lower FBA shipping fees at this point. Currently, if you sell for $10 or less you get reduced rates on fulfillment fees. This should be raised to at least $13 given the amount of inflation we've had.
I built a playbook for an AI SaaS CEO that got them these results in 6 weeks🤯 - 3 month sales cycle -> 3 weeks - 10% close rate -> 35% - ACV increase of 20% If this post gets 10 likes, I'll build a step by step guide for anyone to level up Founder Led Sales (for free).
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