I’ve listened and re-listened to this particular episode probably ten times. I’ve been selling on Amazon at a small scale for about a year and while I knew I was profitable, I really had no accounting system setup aside from some spreadsheets that tracked a few things. This was the impetus to finally get a real accounting system setup, figure out my cost of goods sold, and start running this like a business instead of a hobby. It wasn’t fun and I’ve still got a lot of catching up to do but I feel like I’m in a much better position now.
One thing I’d love to see is a good chart of accounts for an eCommerce seller. Something for resellers as well as those doing private label. I think that would make for a good blog post.
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