As I wrote in my previous blog, I am now a certified Profit First Professional. As of January 2018, all of my clients will reap the benefits of my application of Profit First principles I have learned throughout my Profit First Certification. But what does this mean exactly?
Just around the time of the first Profit First book being released by Mike Michalowicz, I was struggling to grow my business rapidly enough to cover the expenses of a five-figure marketing coaching program and an additional full-time employee. I saw that having to cover the costs of these things in addition to my normal business expenses would put my business in poor financial health. After doing some research on Profit First and reading the first book in the series, I realized that Profit First was the answer for both my business and for my clients’ businesses.
Being a bookkeeper, I knew how to track the numbers, but wasn’t setting sustainable financial goals to guide my business decisions. Two of the main principles of Profit First are to be disciplined and thoughtful with your money. I was too busy chasing after revenue without paying attention to how much money was being spent by my business and the cost of this revenue chasing can really add up. With the principles of Profit First under my belt, I could really see more clearly how decisions based off emotion without due diligence can be a problem.
Profit First will shift your mindset on how you view your numbers. You will have a better understanding of how your money goes in an out. You will discover new, creative ways to increase profits. There will be no more sleep lost over wondering if your business will have enough money to meet payroll. You will enjoy taking a quarterly distribution from your profit account. You will have the money to pay your taxes sitting in an account ready when you need it.
While Profit First is not a complicated system, doing it alone can be challenging. Clarity Finances will be there to walk you through the process, helping you choose financial goals that will improve your business and enable you to give in a BIG way.
We start with a Profit Analysis, providing a roll out plan and meeting with you regularly to track your progress all while providing encouragement as you need it to celebrate your successes.
When businesses get their numbers right through Clarity Finances and the Profit First system, they can play BIG and give BIG.