Profit in Your Pocket

 

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...

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