A few years ago we were broke university students. Living in a place of Eastern Europe nobody knows - Lithuania. Fast forward a few years, we’re founders of AdKings Agency. An industry-leading boutique eCommerce growth agency responsible for one of the fastest-growing US eCommerce brands and taking it from $0.5M to $26M in a single year without any external funding. Now we’re working on helping to grow and scale a dozen other eCommerce businesses to 8 or 9-figures. Managing over $18M in paid media ad spend a year and delving deep into sophisticated eCommerce exits, investments, and acquisitions world. Our world is intense, crazy, ever-changing, and challenging. This podcast is simple. Every week we, Darius, and Justin are going to open up our & our agency lives. We’re going to share behind the scenes insights about what makes our clients' businesses grow at the speed they are growing. We’re going to share our best-learned marketing methods, channel insights, and growth hacks that took us millions of dollars to figure out. And we’re going to open up insights from our client's business development strategies from operations management to raising capital that supported this growth. Nothing held back to help you transform your business into an 8 or even 9-figure powerhouse. Are you ready to click play? - Darius Kunca & Justin Gecevicius 👉 We're releasing new episodes every Monday, Wednesday & occasionally Friday.
Episodes
Wednesday Feb 17, 2021
Wednesday Feb 17, 2021
On this episode of the Built to Scale eCommerce Show, we cover one of the most important areas of business: investment and profitability. In order to fully understand these concepts, it is vital that you monitor your finances. Making educated decisions requires you to comprehend and know your numbers. Today, we will give you recommendations on what to do, how to do it, and what to focus on to increase your eCommerce business’ profits.
On this episode:
- Why monitoring your financials is extremely important.
- Read “Profit First” by Mike Michalowicz.
- The financial perception of an accountant versus the perception of the entrepreneur.
- Recommendations on how to best manage financials as an eCommerce business.
- The benefits of tracking daily profit as opposed to monthly profit.
- Numbers, data, and KPIs that should be tracked frequently.
- Types of variable fees and fixed fees and how these play into the calculations.
- How calculating operational profits benefits the business owner.
- Covering fixed fees and what’s left afterwards.
- Apps in Shopify that can be helpful in monitoring finances.
- Custom fees and costs are entered manually.
- A formula that allows day-to-day profit to be tracked.
- Ad spend and ROAS (return on advertising spend) on various platforms.
- A sophisticated process which clients are usually interested in.
- Practical planning and theoretical planning.
- Where and how to adjust ad spend if needed.
- Learn more to change your financial mindset and benefit.
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➤ www.adkings.agency/intro - Want us personally to help to grow your eCommerce business to 8 or even 9-figures? Then check out our Boutique eCommerce Specialized Facebook Ads & Omni-channel Funnels Growth Agency - AdKings.
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www.adkings.agency/careers - Are you living and breathing everything marketing & FB advertising? Extremely ambitious in driving tremendous results, love challenges, and want to help manage a portfolio of 7 & 8-figure eCommerce clients? Apply now.
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