S07 EP21: What you need to know about Bookkeeping for eCommerce w/ Nathan Hirsch

On today’s episode, Kunle is joined by Nathan Hirsch, CEO of EcomBalance,  a bookkeeping service provider for eCommerce businesses that gives detailed monthly reports and analysis so that business owners can make smarter decisions geared toward growth.Nathan Hirsch was the founder and CEO of FreeeUp, a freelance platform that grew into a multimillion-dollar business until he sold it and exited in 2020. During the pandemic, he also went on and created two other platforms called Outsource School which teaches the best practices for hiring freelancers, and EcomBalance.A client working with EcomBalance will be provided a team leader and bookkeeping staff and financial controller who all work together and specialize in eCommerce. Nathan emphasizes the need for a bookkeeper who will keep your books clean monthly and can provide reports on time as it is essential for most things like taxes and for buyers to be able to build interest and trust in the business.It’s an insightful episode as you’d hear Kunle and Nathan talk about Nathan’s experience in building his businesses and being financially free for life, tips as an eCommerce seller as well as a service provider, the importance of clean books, and creating a clear division between the roles of an entrepreneur and a bookkeeper/accountant. They also give their perspectives on the eCommerce industry in 2022. This is a great episode for eCommerce sellers who want to build and scale a trustworthy business.-----------SPONSORS: This episode is brought to you by:  Wayflyer As you continue to grow your eCommerce business, access to growth capital will increasingly play a significant role in achieving and surpassing your financial and social goals. Why should you give up equity or pay high interest rates to grow your business? There is a new way to access growth capital that transforms eCommerce businesses.Wayflyer has shaken the way eCommerce operators access working capital. With a dedication to only DTC eCommerce businesses, Wayflyer will fund you on a fairer “fund as you grow” model, meaning if your sales slow down, so does the amount you transfer back.. There is just a simple fee and the funds you need to grow are deposited to your account instantly. It’s worth checking out – Wayflyer.com Klaviyo  This episode is brought to you by Klaviyo – a growth marketing platform that powers over 25,000 online businesses. Direct-to-Consumer brands like ColourPop, Huckberry, and Custom Ink rely on Klaviyo.  Klaviyo helps you own customer experience and grow high-value customer relationships right from a shopper’s first impression through to each subsequent purchase, Klaviyo understands every single customer interaction and empowers brands to create more personalized marketing moments.  Find out more on klaviyo.com/2x. Gorgias  This episode is brought to you by Gorgias, the leading helpdesk for Shopify, Magento and BigCommerce merchants. Gorgias combines all your communication channels including email, SMS, social media, live chat, and phone into one platform.  This saves your team hours per day & makes managing customer orders a breeze. It also integrates seamlessly with your existing tech stack, so you can access customer information and even edit, return, refund, or create an order right from your helpdesk.  Go to Gorgias.com and mention 2x eCommerce Podcast for two months free. Recharge This episode is brought to you by Recharge, the leading subscriptions payment solution for Shopify merchants. Recharge helps eCommerce merchants of all sizes launch and scale subscription offerings. Recharge powers the growth of over 15,000 subscription merchants and their communities—turning one-time transactions into long-term customer relationships. Turn transactions into relationships and experience seamless subscription commerce with Recharge. Find out more on rechargepayments.com/2x.  ★ Support this podcast ★

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