PROFIT FIRST
“Transform your business from a cash-eating monster to a money-making machine”
– Mike Michalowicz
Rethink Your Finances: The Profit First Revolution
Breaking the Mold: Spend Money to Make Money? Or Make Money Work for You?
How often have you heard the age-old adage, "you need to spend money to make money"? There's truth in it, but all too often, it spirals out of control. Suddenly, you find yourself spending just to ward off the looming tax bill, sinking deeper into debt. Sound familiar? You're not alone—this isn't a new problem.
The Traditional Equation: Sales - Expenses = Profit
We're all familiar with the formula: SALES - EXPENSES = PROFIT. It seems logical, right? Yet, no matter how much you make, it somehow all gets spent. Unless you actively strive to save, it remains a perpetual cycle.
A Paradigm Shift: SALES - PROFIT = EXPENSES
What if we flipped the script? What if, right after the sales roll in, a portion is set aside for profit before tackling expenses? Picture this: it's like having a brand-new tube of toothpaste. Initially, you don't mind how much you use, but as it starts to dwindle, you stretch it further. The same principle applies to money. By prioritizing profit first, expenses naturally adjust, leading to less spending and more profit—a beautifully simple yet effective concept.
Overcoming Challenges: Your Debt and Payroll Concerns
You might be thinking, "My debt is overwhelming" or "I haven't paid myself in months." Fear not—we have a treasure trove of strategies to guide you through. This system is adaptable and scalable, no matter your current financial situation.
Hard Work? Undoubtedly. Rewarding? Absolutely!
Embarking on the Profit First journey requires effort, but the rewards are transformative. Imagine a financial landscape where profit isn't an afterthought but a deliberate priority. It's an investment in the longevity and prosperity of your business.
