Firing The Man How To Use Your Monthly P&L & Income Statements To Improve and Scale Your Business with Nathan Hirsch
Episode 111
On today’s show, we are joined by Nathan Hirsch. Nathan is an expert in remote hiring and eCommerce. He built and exited FreeeUp.com, a marketplace that connects businesses with pre-vetted virtual assistants, freelancers, and agencies in eCommerce. Nathan's most recent project is Ecombalance where his team focuses on eCommerce businesses selling on Amazon, Shopify, eBay, Etsy, and other marketplaces master their bookkeeping.
Tune in now to learn to grow your business by using your financial statements the right way!
[00:01 - 05:56] Opening Segment
- Let’s get to know Nathan Hirsch
- The story behind building FreeUp
[05:57 - 15:38] Building His Own Service-based Company
- Nathan talks about how this “rebellious act” led him to entrepreneurship
- We have an interesting exchange about vegetarian diets
- The customer pain point that pushed Nathan to get out of Amazon
[15:39 - 21:04] Building Trust With Potential Buyers of Your Company
- Newbie entrepreneurs should learn this thing about outsourcing
- How to build trust with buyers if you want to sell your company
- Want some Amazon refunds? Check out Getida
- Promo code: FTM400
[21:05 - 30:24] How to Look at Financial Statements
- The right time to hire bookkeeping services
- The right way to use financial statements according to Nathan
- Nathan gives a sneak peek at the services that EcomBalance offers
[30:25 - 36:05] The Future of Bookkeeping
- Nathan shares his outlook for the bookkeeping industry
- Are there any interesting trends in the e-commerce space right now?
- Is EcomBalance a good investment?
[36:06 - 41:41] Closing Segment
- Know more about Nathan in the Fire Round!
- Connect with Nathan!
- Links below
- Final words
Tweetable Quotes:
“One of the ways you build trust with someone buying your company is you understand your numbers and the numbers that you're telling them on those initial phone calls match up with the numbers that are actually on the documents.” - Nathan Hirsch
“You can't make business decisions just by looking at what's in your bank account and cash coming in. You have to actually see income statements, balance sheets, cash flows.” - Nathan Hirsch
Resources mentioned:
Email nathan@ecombalance.com to connect with Nathan or follow him on Facebook, Twitter, Instagram, and LinkedIn. Check out EcomBalance to master bookkeeping for your e-commerce business!
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