Starting an ecommerce business is exciting. You set up your store, list products, and start selling. But many beginners forget one important thing — managing money properly.
According to Business Strategist Hirav Shah – The Game Changer, accounting is not about complex math. It is about knowing where your money comes from and where it goes.
“A business doesn’t fail because of lack of sales. It fails because the owner doesn’t track the money,” says Hirav Shah.
Let’s break this down in the easiest way possible.
Table of Contents
1. Open a Separate Bank Account for Your Business
This is your first and most important step.
Do not mix:
- Personal money ❌
- Business money ❌
Why?
Because mixing money creates confusion and mistakes.
Simple Example
You earn ₹1,00,000 from your store.
You spend ₹40,000 on ads and products.
If your personal money is mixed in, you won’t know:
- How much profit you made
- How much you can reinvest
A separate bank account makes everything clear and stress-free.
2. Write Down Every Expense
Every rupee matters.
Track things like:
- Product cost
- Shipping charges
- Online ads
- Website tools
- Packaging
Easy Calculation
If your sales are ₹80,000
And your expenses are ₹55,000
Your profit is:
₹80,000 – ₹55,000 = ₹25,000
If you don’t track expenses, you may think you are earning more than you actually are.
Beginner Tip
Use simple tools like:
- Google Sheets
- Accounting apps
- Even a notebook (at the start)
3. Keep Your Records Updated (Bookkeeping)
Bookkeeping simply means:
- Writing down sales
- Writing down expenses
- Checking your bank balance
Do this:
- Daily or weekly
- Not once in 3 months
Why it helps
- You see profit clearly
- You avoid surprises
- You stay ready for taxes
As Hirav Shah explains:
“Numbers show you the truth of your business.”
4. Pay Yourself Properly
Many beginners take random money from the business. This is a mistake.
Instead:
- Decide a fixed amount for yourself
- Treat yourself like an employee
Example
Monthly business income: ₹1,50,000
Your fixed salary: ₹30,000
Now you know:
- Business cost
- Actual profit
- How much to reinvest
This creates discipline and clarity.
Role of Business Strategist Hirav Shah
As The Game Changer, Hirav Shah helps beginners:
- Understand money without fear
- Avoid early financial mistakes
- Build strong foundations
- Grow step-by-step with clarity
Accounting is not difficult — it becomes difficult only when ignored.
FAQs for Beginners
Q1. Do I need accounting from day one?
Yes. Start simple, but start immediately.
Q2. Do I need an accountant right away?
Not at first. But guidance helps as you grow.
Q3. How often should I check my money?
At least once every week.
Q4. What is the biggest beginner mistake?
Mixing personal and business money.
Final Words
Starting a business is brave. Managing money properly makes it successful.
Hirav Shah concludes:
“You don’t need to be a finance expert. You only need discipline and clarity.”
Start small. Track your money. Grow with confidence.
