Join us in this episode of Toy Business Unboxed, where we welcome Tyler Jefcoat, the founder of Seller Accountant and leader of the Seller Roundtable Mastermind Group. Tyler, with his extensive experience in e-commerce, shares insights on crucial topics like macroeconomic trends, the impact of interest rates on customer behavior, cash flow management, and building lasting customer relationships. Discover Tyler's journey from being an accountant to helping e-commerce businesses thrive. The conversation dives deep into managing cash flow, the significance of balance sheets, accrual versus cash-based accounting, and preparing for business exits. Tyler also offers valuable advice on ensuring higher value product selections and developing strong supplier relationships. This episode is packed with practical tips and strategies for both budding and seasoned e-commerce entrepreneurs.
⭐ Highlights:
00:00 Introduction and Guest Introduction
00:50 Tyler's Journey to Becoming Seller Accountant
02:15 E-commerce Trends and Macroeconomic Factors
05:24 Managing Cash Flow in E-commerce
08:14 Profit First and Financial Planning
15:33 Accrual vs. Cash-Based Accounting
18:52 Preparing for an Exit Strategy
27:06 Final Advice and Closing Remarks
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