You are here because you have kicked operating your business “check-to-check” to the curb. You are here because you are sick and tired of working too hard and putting too much at risk for little to no reward.
You are here because you realize you cannot continue to operate your business like an ostrich with your head in the sand when it comes to your company’s financials.
You are here because by leveraging Profit First as a cash management system for your business you are on a path to permanent profitability.You are here because you are a top 17%-er entrepreneur.
As a top 17%-er, you represent the “Profit First” percentage of businesses that are not operating check-to-check and have money in the bank to correlate to your profitability.
When you implement Profit First and begin immediately allocating at least 1% of your income deposits to profit – you put yourself in that awesome top 17% category.
Mike Michalowicz is back because it’s an episode ending in “8.” We talk getting comfortable with the uncomfortable when it comes to making a transformation like moving from one business bank account to five. We also talk about how to apply the Pareto Principle to your customer roster and how your customers impact your profitability. Additionally, we provide recommendations on what and how much to keep in your vault account for OpEx. Don’t forget that we have your back on where and how to open your five core accounts at https://www.profitfirstnation.com/step-1/
With a mindset of abundance there is peace and infinite opportunity. We break down a checklist and discuss how to get the right framework in place to maximize your profitability. SPECIAL BONUS RESOURCE: Reverse Engineer Calculator Based on Owner’s Pay available at www.ReverseEngineerCalculator.com
Joe Wellbourn of Carbon Marine shares his authentic Profit First Journey, from a false start, driving blindly and by the seat of his pants to a permanently profitable business owner who is no longer a slave to the grind, and has cold, hard cash in the bank to correlate to his profitability.
If you are using credit as a bridge because you don’t have the money on-hand to support the purchase (and it’s not an issue of waiting on A/R) = Your expenses are too high and it’s time to do an Expense Analysis.
[Adapted from Episode 15 of the Profit First Nation podcast] Alright Profit First Nation – we need to talk about ...Read More