Paul Bianco’s Post

Struggling to manage increasing costs as your business expands? Don't let COGS weigh you down! Explore practical strategies for controlling your Cost of Goods Sold and optimizing your operations with the help of inventory management solutions like Cin7. Read more on our blog. https://hubs.li/Q02xl7sK0 #COGS #BusinessStage #Growth

Managing inventory doesn’t have to be a headache. Protea Financial ensures your inventory is accurately tracked, optimized, and aligned with your business goals. We help you reduce waste, prevent stockouts, and increase profitability. Let us simplify your inventory management so you can focus on growth. https://lnkd.in/eAMgNUhN

📉 A client came to us because they were operating at a financial loss and THEY DID NOT KNOW WHERE THEY WERE LOSING MONEY. 📈 The Solution: After helping this client reorganize their financials to clearly evaluate revenue and costs of each product line, we discovered that SUBSTANTIAL COSTS OF GOODS WERE NOT PROPERLY ACCOUNTED FOR IN ONE OF THEIR PRODUCT DELIVERY MODELS. ~These costs were being absorbed by the company, instead of being passed on to the customer, and were costing our client hundreds of thousands of dollars each year. ~In evaluating the problem, we offered the client options to resolve the issue and bring them back in the black. ~Options included increasing marketing efforts to grow revenue, increasing prices to recuperate the indirect costs, or close down the warehouse and move to a drop-ship delivery model instead. 💲 The Result: The client recognized the inefficiencies of warehousing and decided to move to a drop-ship model. After helping this client take actionable steps to sell their warehouse and reduce staff and overhead costs, THEY HAVE SAVED HUNDREDS OF THOUSANDS OF DOLLARS PER YEAR and are now operating profitably. #profitability #fractionalCFO #accounting #bookkeeping

📉 A client came to us because they were operating at a financial loss and THEY DID NOT KNOW WHERE THEY WERE LOSING MONEY. 📈 The Solution: After helping this client reorganize their financials to clearly evaluate revenue and costs of each product line, we discovered that SUBSTANTIAL COSTS OF GOODS WERE NOT PROPERLY ACCOUNTED FOR IN ONE OF THEIR PRODUCT DELIVERY MODELS. ~These costs were being absorbed by the company, instead of being passed on to the customer, and were costing our client hundreds of thousands of dollars each year. ~In evaluating the problem, we offered the client options to resolve the issue and bring them back in the black. ~Options included increasing marketing efforts to grow revenue, increasing prices to recuperate the indirect costs, or close down the warehouse and move to a drop-ship delivery model instead. 💲 The Result: The client recognized the inefficiencies of warehousing and decided to move to a drop-ship model. After helping this client take actionable steps to sell their warehouse and reduce staff and overhead costs, THEY HAVE SAVED HUNDREDS OF THOUSANDS OF DOLLARS PER YEAR and are now operating profitably. #profitability #fractionalCFO #accounting #bookkeeping

💰 Master Your Profit Margins Understanding profit margins is key! 💵 Calculate all costs, including Amazon fees, to ensure your products remain profitable. Regularly review and adjust pricing strategies to maintain healthy margins. 🔧 This knowledge is essential for sustainable business growth. Keep track of your expenses and revenues for accurate financial planning. #ProfitMargin #FinancialSuccess #BusinessGrowth #BusinessGrowth #FinancialPlanning #CostManagement #PricingStrategy #SmallBusinessTips #RevenueGrowth #EntrepreneurMindset #BusinessSuccess #OnlineBusiness #SustainableGrowth #FinancialSuccess #SmartPricing

Mastering COGS is the only way to get better insights about your products cost. Long term success and sustainability is based on that.

Planning for inventory shrinkage? Here’s why it matters. Inventory shrinkage is an inevitable reality. Damages, theft, and errors happen—but tracking these losses can help minimize them. By actively accounting for shrinkage, you can prevent profit leakage and improve your pricing and ordering strategy. What’s your biggest inventory challenge? Share it with us in the comments!👇 --- Hi👋 I'm Uyi. Are you Struggling to keep your inventory costs and financials in check? My bookkeeping service is tailored for Canadian eCommerce sellers who want transparent, compliant, stress-free financials. Let’s turn your messy books into actionable insights so you can focus on growth!DM to learn more. --- #InventoryShrinkage #eCommerceProfit #CostManagement #eCommerceBusiness #InventoryTips

Ever wondered what goes into calculating the cost of goods sold (COGS)?🤔 Our latest guide breaks it all down, making it easier than ever to understand how COGS impacts your business’s bottom line.💡 #cogs #inventorymanagement #businesstips

Small and medium-sized enterprises (SMEs), are you finding it challenging to keep track of your costs? The Cost of Goods Sold (COGS) is a crucial metric that can make or break your profitability. Our partner, @Cin7, has crafted a comprehensive guide on COGS tailored for businesses at every growth stage. This blog post covers: - The significance of COGS for various departments - Strategies to control COGS without hindering growth - How Cin7’s inventory management tools can simplify real-time COGS calculations Unlock the secrets to managing your costs effectively and ensure your business scales successfully. 👉 Read the Full Article: https://buff.ly/3KsOGZX Hashtags: #SME #BusinessStrategy #COGS #InventoryManagement #Cin7 #SMBConsultants #FinancialHealth

Through our work with manufacturers, we've developed a deep understanding of the complexities surrounding COGS variances. In the link below, we share the tools and strategies that have helped our clients take control of their costs and drive better business outcomes. https://hubs.li/Q02BNDjZ0