Skip to main content

I Thought I Canceled That Expense…

By Blog, Cash Management, Profit FirstNo Comments

Unpleasant Surprises When I go over expenses with clients, they often wind up telling me that they are surprised to see an expense on their account. I’ll either hear “I thought I canceled that,” or worse, “I don’t know what that expense is.” The last thing you want is to find out you’re paying for something you don’t know about. If you don’t know about…

Read More

How to Implement Profit First [Meeting #1]

By Business, Cash Management, Profit FirstNo Comments

To implement the Profit First system with a new client, we have 4 initial meetings to get everything straight and everyone on the same page. We’ll go through our entire implementation process over the course of 4 blog posts. You’ll know how to implement Profit First for yourself.   Bookkeeping Review   Profit First is only as good as the bookkeeping history. To make the…

Read More

Cash Flow Management for the Fitness Professional

By Blog, Cash Management, Profit FirstNo Comments

Grow Your Fitness Business Recently, I got a great opportunity. I was invited to do a guest spot on Kelly Coulter’s fantastic series Grow Your Fitness Business. Kelly is a phenomenal businesswoman who has been involved in online marketing and the fitness industry since the ’90s. She is THE name in Online Fitness Business Marketing. Her show is an invaluable resource for microgym owners. She…

Read More

Don’t Pay A Guru To Teach You Basic Investing Stuff

By Blog, Cash ManagementNo Comments

Spotting Scammers There are a bunch of people running around out there calling themselves “financial gurus.” They claim to have magic secrets to maximize profits and get out of paying certain taxes. And a lot of these guys have fantastic pitches. They’re very well written and worded to make it sound like they are legitimate professionals who have stumbled upon something new. But when you…

Read More

How Have the Top Fitness Industry Experts Pivoted Their Business Because of COVID?

By Business, Crossfit, MicrogymsNo Comments

A growing crowd amongst the fitness industry believes that fitness will never be the same after COVID.  It’s possible there isn’t enough data yet to make that claim, but there is enough data to know what types of pivots during the crisis ended up being great pivots.  We’ve made connections with some fitness industry experts that are making a splash for the rest of us…

Read More

Is Cutting Expenses Always The Answer?

By Blog, Cash ManagementNo Comments

Running A Business Is Hard The hard truth about running a business is that you will be doing better in some quarters than others. Some quarters you will be bleeding money. When that happens, a good business owner knows it’s time to start making cuts and changes to stop the bleeding. Or, at the very least, reduce the bleeding so you can survive until a…

Read More

Better Financial Decisions by Understanding Your Financials

By Blog, UncategorizedNo Comments

Let’s Get Organized Before you can make financial decisions, you have to understand your finances. Making smart decisions is about working with as much helpful information as you can. And making a choice to be profitable starts with making smart decisions. So let’s take a deep dive into understanding financials.   Tool and Tricks Follow along on this video with me as I teach you…

Read More

Forecasting Financials for Fitness Studios

By Bookkeeping, Cash Management, Profit FirstNo Comments

Your Microgyms’s Future Putting Profit First means keeping one eye on the horizon. Failure to plan is, after all, planning to fail. Your business is going to grow. Tracking your current financials and using them to make meaningful predictions about that growth gives you an edge in staying profitable. Growth is Success Your goal as a microgym owner is GROWTH. That’s true for any business,…

Read More

Launch Interview With Susanne Mariga

By Profit FirstNo Comments

A new chapter for Profit First We have some exciting news for all of you! On May 25th, the Profit First team added another book to our ever-expanding library of resources to help you scale your business and maximize your profits. Profit First proudly celebrates the launch of our community member Suzanne Mariga’s new book Profit First For Minority Business Enterprises.   An interview you…

Read More

Frustrated With Taxes?

By Bookkeeping, Profit First, Tax StrategyNo Comments

We are almost in the middle of 2021 and here in the US, Biden has just announced his tax package.   That got me thinking…   Especially now, with the deadline extension this year and all these ideas with tax are going on right now. I wanted to share with you some of the frustrations we have experienced and heard.    Frustrated with filing your…

Read More

Bookkeeping 101

By Accounting, Bookkeeping, BusinessNo Comments

Whether you decide to stay inhouse or outsource, you need to know some bookkeeping basics. My goal is to give you a big picture overview of bookkeeping, so you’ll have a foundation to build your business knowledge on. The more you know. (Did anyone catch that reference?)   Bookkeeping is recording every transaction you make for your business in your books. Every cent you spend…

Read More