SDH 255: How to Effectively Implement Profit First When Starting Out with Amanda Boleyn

Hi guys!

Today I am going to be diving into how to effectively implement Profit First when starting out.

Let's talk about the Profit First Method, Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine, a book written by Mike Michalowicz, this book completely changed the way that I manage cash flow in my business. I wish I had this at the beginning of my business even as a freelancer. When your income fluctuates so much from month to month, it's difficult to be able to manage that cash flow to create consistency within the business so there are no surprises. The premise of it is to help you build profits in your business. 

Key things:

Setting up different bank accounts for your business
Using percentage to determine cash flow in your account
Determine your monthly expenses
Separate business from personal expenses
Bookkeeping 
Tune in to hear more about how this book can help you with your cash flow, even if you are just starting your business, you are a freelancer or if you are in the middle of your business and need help with managing your cash flow!

RESOURCES

Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine