Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
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Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
no matter what the number is, if you work toward it and believe it’s a possibility, you will not only achieve it, you will blow past the “reasonable” numbers others have set.
Parkinson’s Law triggers two behaviors when supply is scant. When you have less, you do two things. The first is obvious: you become frugal. When there is less toothpaste in the tube, you use less to brush your teeth. That is the obvious part. But something else, far more impactful happens: you become extremely innovative and find all sorts of ways
... See moreErnie is at point A (which is really called crisis) and he wants to get to point B (which is his vision for our future). The thing is, as is the case for most of us, his vision is very vague. Instead of a clear statement of his products or services and the clients he wants to serve, Ernie might have a goal like, “I want a lot of money and need reli
... See moreWithout enough money, we cannot take our message, our products, or our services to the world. Without enough money, we are slaves to the businesses we launched.
When less money is available to run your business, you will find ways to get the same or better results with less. By taking your profit first, you will be forced to think smarter and innovate more.
Profit must be baked into your business. Every day, every transaction, every moment. Profit is not an event. Profit is a habit.
The money may be easy, but what about the costs to do it all? Rakes and blowers for yard work are useless when working on roofs or chimneys. Now this guy needs ladders, roofing gear, bricks, and other materials. And most important, he needs the skills to complete the tasks, which means hiring skilled labor or going back to raking, gutter cleaning,
... See moreyou set up one Profit First account, and you transferred 1 percent of your current money.
if your client gives you a week to turn around a project, you’d likely take the whole week—but if she gives you just a day, you’ll make it happen in a day. You see the more we have of something, the more of it we consume.