PROFIT FIRST BLOGS
Interview with Claudio Conte from Spiral Orb Designs on his Profit First experience.
During this Facebook Live Q&A, our panel answered a variety of questions from business owners, and also individuals interested in becoming Profit First Professionals.
Profit First is a hot topic in money management, but if it’s a new concept to you, you probably want to know what it’s all about and how it can improve your financial situation. Furthermore, you probably don’t have time to read the whole book to work out if it’s for you or not, so […]
I was so excited to speak with and interview Katie today about her new book - Profit First for Tradies!
If you are looking for advice on how to grow your business then working with a business coach makes perfect sense. They are often seen as experienced entrepreneurs who can help guide business owners to meet their goals for sustainable growth. They also provide a great sounding board for difficult or risky decisions. However, a […]
As an entrepreneur who is yet to master their cash flow, you may find some benefit in putting the Profit First percentages to work in your business. Not only will it ease any financial anxiety or worry you may be feeling, but it will help you to manage your expenses in a way that helps […]
Engaging an accountant to help manage your taxes and compliance work will give you more clarity and confidence when it comes to the financial stability of your business. The difference between a regular accountant and a Profit First Accountant is that the latter is certified in the Profit First methodology, meaning they proactively help you […]
Outsourcing the management of your money and books to an expert makes sense not only for the financial health of your business, but it is also going to save you time. When you work with a Profit First Bookkeeper you are engaging a certified Profit First Professional who can help you achieve financial stability and […]
What Are Profit First Professionals And How Can They Help You Grow A Profitable Business With Sustainable Cash Flow?
As a business owner and entrepreneur looking to grow a profitable business, your number one go-to person needs to be a Profit First Professional (PFP). Why? Because they are trained and certified in the Profit First methodology, which seeks to help business owners move away from operating in a panic-driven cycle that relies on each […]
Please note: The approach outlined below is applicable to the majority of businesses and industries that are currently using overdraft as a cash flow buffer. However, Farming and Agribusiness overdrafts are treated slightly differently to the approach presented in this article. Please consult with a Certified Profit First Professional for expert guidance for your industry, […]
So you may have read the book, or a few blogs, or attended one of our webinars… and you’re ready to give this whole Profit First thing a crack. But you’re wondering, “how do I apply Profit first to my business?” Where do you start? How do you apply Profit First to YOUR business? Firstly […]
A common issue that many Profit First Professionals see in businesses is that business owners are struggling to pay wages and often sacrificing their own wage or going into debt to cover the gap. The culprit of this problem? Poor cash flow management. What normally happens is an influx of sales over a period, so […]
Word is spreading fast on the effectiveness of using Profit First to scale businesses. Want to know why it’s so effective? Read on. If you’re unaware of what Profit First is, it is a money management technique that can make almost any business type profitable from day one. Sounds like a sham right? But it’s […]
Craig Minter is a husband and a father, who loves to travel and loves soccer. Craig started CD Mints Consulting about 6 years ago, he decided to take a step out of a professional career to create a lifestyle for his family.
SMEs (small to medium enterprises) are vital to the Australian economy. They contribute to 57% of Australia’s GDP (gross domestic product). And as we know, going into business has a very high failure rate. In fact, over 50% of Australian SMEs have only been in business for 10 years or less. Further to this, only […]
Running a small business is no easy feat. There’s always something else on your never-ending list of responsibilities and when you’re forever slogging away in your business for little to no return it’s easy to wonder if it’s all worth it. If this is where you’re at, it’s time for you to review whether you […]
If you’re a small business owner, you already know the ugly figure that haunts new businesses: two to three years. That’s how long it takes the average new business to start seeing a profit. It makes sense: running a business is expensive. Nearly every new business is founded already in debt, and it takes a […]
Quick question: how much money does your small business spend on debt repayments every month? Is that number higher than you’d like it to be? You’re not alone. Unless you’re independently wealthy or have the backing of an angel investor, your small business probably needed a loan to get off of the ground. On top […]
Tracy has been a bookkeeper for nearly 20 years and is the owner of Ironbark Industries Bookkeeping. She began using Profit First about 12 months ago. She immediately saw the benefits of using Profit First and 6 months later decided to become a Profit First Professional so that she could share these same benefits for business success with her clients.
Caroline Smith started her business Jackadder Business Consulting to help businesses improve how they ran their business and their processes. She soon realised that the number one area most people needed assistance was with finances. So she became a BAS agent and began offering bookkeeping services. She realised that when you offer bookkeeping services people are asking about how they can grow their business and how can they become more profitable.
Meet Katie Marshall, her business is Efficient Tradie. She works specifically with tradies to help them with their bookkeeping to make it efficient and simple and then to work with them on their cash flow, the leading issue for tradies is poor cash flow.
Do you need help only with Profit First, or does your business need some strategic guidance as well? Perhaps you are happy with your current bookkeeper and accountant, but still want to implement Profit First and need assistance in order to make that happen from someone with a business brain. A business coach certified in […]
Every business needs to use the services of an accountant in order to complete their annual taxation obligations, but accountants are more than just tax advisors. Accountants are highly trained finance professionals. Profit First Professionals that are accountants are not only tax strategists and number gurus, they are also strategic advisors for your business. A […]
Outsourcing your bookkeeping work to a bookkeeper makes financial sense and it can give you back valuable time into your day to focus on growing your business and using your skill set to serve your clients. Bookkeepers are professionals, they understand the compliance requirements of your business, ensuring that you meet your obligations and there […]