Reason #2: Be Intentional with Profit

Top 21 Reasons to Implement Profit First in 2021… Reason #2

Most businesses manage cash flow like so: generate revenue, pay the operating expenses, pay taxes, take owner’s draw, then see if there is any “profit” let over.

Bottom line. Not important.

In fact...most small business entrepreneurs AVOID having much “profit” at all to avoid tax liability.

Sure, nobody wants to see hard earned dollars flying out the door for a cause you can’t control.
.....So we overspend, inflate expenses and plow back the profits as investments/improvements in the business. So the thing you leave for last is now suddenly a one-man band (without a plan)!

Whoops!

So what is Profit First anyway?

This system “forces” you be to intentional with your hard earned cash. Are you running your business or is it running you?

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Dr. Holly has been coaching and mentoring chiropractors in implementing Profit First since first implementing it in her practice in 2017. With an extensive background in health care administration, experience as a small business owner and clinician, she provides accountability and support in a simple way. Check out her “5-minute Fridays” series on YouTube.

How to work together…

Schedule a FREE Discovery Call (click to access my schedule)!

If I help you pay yourself more next year, is it worth it?

Visit BeyondYourBooks.com for Profit First Accounting & Bookkeeping services