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View profile for Ronak Shah

CEO & Co-Founder at Obvi | EY Entrepreneur Of The Year® 2022 | Featured on Inc. as 1 of 22 High Achievers | Chew on This Podcast Host

This one text message completely changed how we run Obvi. Our finance team sends a daily P&L to our execs & board members - it’s changed how we: 1️⃣ View our business daily 2️⃣ Evaluate where to put our efforts 3️⃣ Maintain transparency Keeping the pressure on at all times. It may look like a lot – but let’s dive into how it's given us a magnified look into our business and why you should add this to your daily communication. 1️⃣ First - track ad spend and ecom revenue: ❓Did we launch a different SMS style today? ❓Did we send email on a restocked product? ❓New ad doing well? ❓Meta found pockets to spend more in? This allows us to see what's moving the needle… 2️⃣ But our daily P/L is for AMZN & D2C, so we’re not looking at it and saying we need to work on Walmart We use it to  📈observe trends against changes we’ve made (i.e. ones listed above) 📉see how the numbers get affected ✍️take action where needed 3️⃣ Transparency is the biggest thing, tbh Other than being on the same page, getting your board & execs guidance is key. Founders/operators can get lost in the weeds, or get affected by the volatility in D2C Your board keeps you level headed on expectations/projections/risks. Overall – this has changed everything at Obvi It’s improved communication with our team and allowed us to keep a close pulse on everything so we can improve our efforts ASAP. 🚨 We pull this from our incredible cash flow tracker – lmk if you’d like to see it in a post.

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Brian Roisentul

🎙️ Host of The DTC Insider podcast | Dad of twins (I'm alive!) | Founder & CEO at BSR Digital | Focused on off-platform analysis to break growth plateaus for 7-to-8-figure brands.

9mo

Love it. Just curious - when you receive these messages, which metrics are you most eager to see?

Arshad Bahl

Founder @AmritaHealthFoods - Top 9 Allergen-Free Facility | Gut Healthy Protein Bars | Hiring Young Adults With Autism

9mo

Love it - we do something similar weekly . Daily would be be too disruptive for us .. but maybe you guys needs daily reports

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Robert Csete

Co-Founder at Dan The Baking Man

9mo

What's the cash flow tracker?

Stuart Worgan

eCom Fractional CFO | Co-Founder @ eClarity | £500m revenue under management | Assembling the best team of eCom Finance experts

9mo

Nice! What software are you using to automate this message each day? Presumably it’s just pulling the daily data from a G Sheet? Ronak Shah

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Asher Hochberg

Founder at Rootspring Ventures

9mo

Ronak Shah As a daily recipient of these messages, I concur it's a game changer. Getting this type of real-time visibility makes our board meetings a lot more productive.

Deividas Tokaris

Scale Your E-Commerce or Info Business To $2M+/mo Without Expensive Creative Production 🚀 Predictable Revenue With Facebook Ads, Creatives and Funnel Strategy

9mo

Daily P&Ls sound like a game-changer! Have you considered using these insights to refine your long-term strategies as well? What specific trends have you noticed since implementing this approach? Ronak Shah

Kevin Meyer

Retired pizza delivery driver. Currently creating fun products and selling them on the internet.

9mo

Would love to see that cash flow tracker!

This is a great reminder that data drives decisions. Seeing those daily numbers keeps everyone accountable and focused on what matters

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