Remember that business plan from Phase 1? This is the perfect phase in your growing eCommerce business to assess cash-flow forecasts to plan for your business goals as you move into becoming a $1M+ online seller. This is where you show your current financial state, which helps with securing funding (if needed) and getting that commercial space you have your eye on -- because your house simply cannot take another delivery.
- After you’ve acquired commercial space, you’re likely looking to hire additional people, if you haven’t already staffed up running out of your home.
- Have you considered employment/ contractor agreements?
- Benefits to keep talent motivated and working with your business?
- Additional insurance needs?