Running an online business can be both stimulating and daunting. It's like boarding a ride with no seat belt on. But fear not! With the right strategies, you can turn your storefront into a thriving one. From generating leads to optimizing sites, there are ways to grow your business.
In this episode, Micah Fraim joins us. He is the founder of a small business servicing big e-commerce businesses. He shares his insights about online and offline business accounting. It will help you future-proof your company in this digital landscape.
So, buckle up. Put on your business hat. Let's explore clever tactics to take your business to the next level !
Here are three reasons why you should listen to the full episode:
- Learn tips on how to optimize your online presence.
- Take your online store to the next level.
- Discover strategies on how to grow your online business.
Resources
- For more insights, set a consultation with Micah through his company’s website.
- You may connect Micah Fraim on LinkedIN
- For more Informative Interviews Click Here
Episode Highlights
Micah Fraim Starting Out in the Industry
- His dad, a financial advisor, influenced his philosophy on money. He inspired him to get business as a course and accounting as a major.
- He looked for security after his father’s crises. He got a corporate job as a financial analyst at a big firm.
- He decided to leave after 3 years to set up his own firm. He faced risks of losing a big chunk of his income.
- He started out with small clients in his area. Then, he stumbled on his first big clients.
- Word spread of his great work among the bigwigs.
- Understanding the core of his clients’ business operations.
Start an Online Business -Micah Fraim
- All e-commerce has periods dictated by the market. It results in difficult tax issues related to state policies.
- Nurture your small business idea and turn it into a great online business.
- Start a business via affiliate marketing. A profitable online business earns money through ecommerce business.
- Utilize social media accounts when you start your own business online. Then, sell online.
How Accounting Helps Your Best Online Business Ideas Grow- Micah Fraim
- Invest in experts to solve your legal and tax issues. A great business knows the value of legal assistance.
- Delegate these matters to experts. As the head of the company, focus on crafting strategies.
- Get expert advice on your taxes once you’ve established your business model.
- As a business owner, don’t try to keep your own books. Set up meetings with an accountant to discuss your business needs. Determine the right plans bespoke to your business.
- Get a bookkeeping program to make sure you log all things.
- Learn to understand basic income statements, balance sheets, and cash flow statements. This will help you spot advantages and assess your performance.
Common Mistakes of Business Leaders -Micah Fraim
- It’s not about worrying over the smallest, day-to-day details. It’s about paying attention to reports. It's about tracking your metrics and KPIs to reach sound business decisions.
- Don’t worry about the numbers. A leader’s mindset should be serving the public with their services and products. This way, you can have a stable base of customers. It will keep your business for a long time.
- It’s hard to face legal battles. Setting up preventative measures with experts is critical.
About Micah Fraim
Micah Fraim is the owner of Fraim, Cawley & Company, CPAs. Some of his clients are the biggest and most successful online businesses. It includes Adam Linkenauger from Authority Online and Rocky Ullah from I Love Basketball TV. He is a thought leader on social media. He has millions of subscribers on YouTube and Facebook. He has been featured in major publications such as Time, Forbes, and NASDAQ.
Enjoyed this Episode ?
If you enjoyed the podcast, be sure to subscribe and share it with your friends!
Post a review and share it! If you enjoyed tuning in, then leave us a review. You can also share this with your family and friends.
Expertise: Business Growth, Sales, Marketing Automation, Leadership