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There's an energy that starts to happen when you're telling money what to do instead of money deciding what it's going to do for you.
It’s all about mindset.
Back in 2014, we became certified Profit First Professionals with Mike Michalowicz. We're learning something brand new all the time. Profit First has changed our lives as well as the lives of our clients.
Today, we talk about the book Profit First, the basics, and how we weave it into our business and with our clients.
Profit First is a cash method of management in terms of how to direct the financial resources in your business. It's not accounting – but a way to organize the financial flow of your money inside your business.
Ultimately, your business has to serve you. This is the inspiration behind the whole Pay, Play, Profit model.
In this episode, you will hear:
- Why and how we’ve incorporated Profit First into our business
- Why you need to set up five bank accounts and two separate banks
- Why the profit account has the absolute power
- Why you need to get paid even if it’s just 1% per quarter
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Supporting Resources:
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
