We have talked about reviewing your books…
Now let’s chat about REMOVING TEMPTATIONS from your books!
A Profit First principle we call, “Remove Temptations”, is the idea that if you’re running the Profit First system, there is a flow of cash. You have income coming in and you have to allocate that into your other business accounts, right?
Twice a month, you’re moving money to your other accounts like taxes and profit. Avoiding using that profit account for purposes other than what it is intended for is what we’re talking about today.
Using the Profit First Method encourages you to review your books twice a month, but to also remove temptations by moving your accounts to different banks.
What does this mean for you?
Check out this tip video I made that helps explain why having separate accounts will benefit you and your business and help you avoid temptation!
The health of your business depends on your diligence!
My new book Profit First For Microgyms that launches January 2020 will goes into more detail about the Profit First Method and how to use it bet better your Microgym.
You can pre-order your copy today by clicking here.
Interested in more tips and advice on how to better manage the financial health of your microgym? Find us HERE on Facebook, where we keep the conversation going so that YOU have the highest chance for success!
If you’re wanting a Tax Genius to take a look at your situation to see if you are saving that maximum amount possible, head over here and we’ll take care of you.