E250: Know Your Numbers

They say the most important things in life are not taught in school. For us ecommerce entrepreneurs, this is especially true. Unless you took up a business degree (even if you did, it's still not a guarantee), you probably learned how to run a business on your own, in the process of running said business. If you're anything like me, you had no qualms about learning things as you go because doing ecommerce is fun. However, there are many aspects of running a business that are NOT fun. Oftentimes these aspects are the most crucial ones and neglecting them can kill your business. Case in point: accounting. Today's episode is best summarized by Dave's favorite quote: "Revenues are vanity, profits are sanity."   Thanks for listening to this episode! Until the next one, happy selling.