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Profit First

Personal Financial Management with Profit First

By Cash Management, Profit First No Comments

Can Profit First apply to personal financial management? Uh, yeah, totally. Look, Profit First as a system, like the guidelines that it offers, is really about spending money first on paper, setting aside money, and putting boundaries around your money, before you’re actually tempted to use it on other things. If you need a refresher on the basics of Profit First, download this free overview…

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Best Practices for Maintaining the Profit First System?

By Cash Management, Profit First No Comments

Setting up a system for your business is a lot of work. The Profit First cash flow management system is no different. It’s a lot of work up front but pays off in the long run. However, every once in a while the system needs some maintenance. Things change, your business grows, or your personal circumstances change, so naturally your cash flow system will need…

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Creating a Budget: Traditional Budgeting Sucks! Plan for Growth

By Cash Management, Profit First No Comments

Creating a budget is one of those tasks that seem to be on everyone’s to-do list, but rarely gets checked off. That’s sad for the budget. Seriously, though, budgets are amazing when done right. Traditional budgeting has you looking at the past 12 months and calculating a monthly average for each expense and income stream. They suggest glancing through your expenses to see if you…

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Seasonality in Business and the Beauty of Profit First

By Business, Cash Management, Profit First No Comments

Almost all industries have seasonal fluctuations in revenue. The travel industry sees an increase during the summer months. As an accounting firm our busiest season is January-April. The Construction industry and landscapers generally see a major decline in revenue during the winter. So how do you deal with seasonality in business to survive the slow months? Well, that’s the beauty of Profit First! It solves…

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