Do you have trouble with cashflow in your business?
Is it seasonal income, or lumpy income that you are dealt with month after month, quarter after quarter?
When the money doesn't come in - you stress out. When the money does come in you try and figure out who needs it the most (and you as the business owner are usually at the bottom of the list!)
Profit First is a solution to help you smooth out the lumpiness and make better decisions about your money.
By allocating all of your income each week to a different bank account set up for a different purpose (eg having a tax account, and a wages account, money for bills and money for paying the owner), it gives you clarity over how much money you can afford to pay out for each. If you allocate 50% of your income each week to operating expenses, you may not have enough money to pay towards paying taxes.
This is not a very common way of making decisions about your business. But it certainly does make a lot of sense - when you implement the system and it works for you.
Some people think that they have to get to a certain point to get Profit First started... but in fact, if you set up profit first today, then you will get to the point you are trying to get to much faster.
Check it out HERE
If you want help to implement profit first in your business - give this membership a go. There's pre-recorded videos to watch, explaining the concepts, as well as worksheets and information to help you work out your percentages.
We will have fortnightly checkin calls and additional training when needed.
Can't afford it right now? Set up a bank account and allocate just 1% of your income in each week, to save the money to pay for it.... trust me, it has helped thousands of businesses across the globe become more profitable.