Brightflow.AI

Most brand founders are flying 280 mph with blinders on. They have no idea what they’re doing They have no idea how their business is doing … and most importantly, they have no idea how to navigate the future - using the data from the past Here’s a mini-masterclass to help you take your blinders off Step 1: Financial Intelligence The first step in taking back control of your business is to understand what you’re dealing with. Charlie Munger famously said “Accounting is the language” of business, so the first step to achieving anything in business is to understand the shared language everybody speaks. In eCommerce - this means having a deep understanding of your… Free Cash Flow Contribution Margin Operating Expenses CAC Average Order Value Etc… If you can’t explain all of these metrics to a 5 year old, you probably don’t understand them Step 2: Get accurate & live data that is fully synced with all of your channels Outdated data gives ZERO insight. You might as well throw it in the trash You can’t change how your business did 3 weeks ago. But if you know how your business is performing right now, you can implement changes starting today. The second piece to this, is the accuracy of the data. Incorrect data doesn’t serve you anything either. It needs to be fully synced up with Quickbooks, Ads platforms, Amazon, Shopify, etc - Otherwise, you might as well throw it in the trash (again) Step 3: Being able to future-forecast accurately Although you can never make a 100% accurate forecast of what the future will look like, it’s critical to do - quite frequently - for any brand. Because otherwise… - You won’t know how your Free Cash Flow will develop into the future and how much runway you have left - You won’t know when to order new inventory and how much to order - and finally - you won’t know whether you need to go out and find funding from somewhere. We’ve always had our VP of Finance @melwani0226 + a Financial Analyst make our financial projections model based on different scenarios. … but, as of recently - we also started working with this tool called @brightflow_ai Brightflow uses AI to forecast and predict your sales, based on the data that it syncs from ALL your platforms. Thus far - it’s been pretty helpful, both in relation to the forecasting itself but also in freeing up bandwidth from our finance team. Their team is also incredibly supportive and have helped a lot in automating the practices we would otherwise have to manually do. If this post was helpful - bookmark this and most importantly, remember to implement it in your biz.