A Change in Mindset

Regardless of income level, money is a persistent source of stress for many business owners!

There are a multitude of business owners who have no idea how much revenue they will have made at the end of the financial year. They just live invoice to invoice hoping everything will work out. This is not an efficient way of making your business’ cash flow work! By the end of the year, you will have spent everything and be left wondering where all of that money went…

Through implementing Profit First, money stress is reduced considerably because you are getting paid every month, debts are being managed, and you have enough cash to pay tax and GST on time, every time. PLUS you are growing your business and your profits! What’s not to love about that?!

Profit First can involve challenging choices to cut costs, but it also puts sensible solutions at the forefront of your mind, rather than just worrying about the basic survival or functioning of your business.

This cash management system has some similarities to the Barefoot Investor’s way of thinking if you are familiar with Scott Pape’s work. You don’t spend money growing the business or buying the things you want to make your business broader. You cut your costs first, pay debts and your tax, and build your profits in the bank.