Reason #1: Pay Yourself Regularly
Top 21 Reasons to Implement Profit First in 2021… Reason #1
I recently found a screen shot from a payroll report from Year 2 in our business.
What I saw shocked me a bit...
somehow I had forgotten that we had staff members making more money than us (the owners and providers).
How could we let this happen?! Well, we essentially paid ourselves last... not only last, but irregularly.
See, the staff would have walked off if we didn't give them a check to cash every 2 weeks.... but as the owners of the business we could withhold cashing those checks until there was a little more cash cushion to clear.
p.s. the staff made more than us combined, not each (two for the price of one)!
It was still another year before we gave ourselves a "raise" and 2 more years before we implemented Profit First and truly got clear on the numbers we desperately needed to know in our business.
Friends don't let friends go unpaid in their own business.
It is vitally important for the sustainability of you as an essential provider to continue to serve your community and provide for your family!
This is Reason #1 to Implement Profit First in 2021.
I can help. ~Dr. Holly, Chiro Profit Coach & Mentor
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