Ep. 90: Banking and Payroll for Profit First Businesses: Your Burning Questions Answered

FromProfit First Nation

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Ep. 90: Banking and Payroll for Profit First Businesses: Your Burning Questions Answered

FromProfit First Nation

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Length:

18 minutes

Released:

Dec 30, 2021

Format:

Podcast episode

Description

Answers to your burning banking questions plus how to handle allocation day with variable employee pay such as commissions and percentage-based compensation.

Released:

Dec 30, 2021

Format:

Podcast episode

Titles in the series (100)

A podcast for the top 17% of entrepreneurs.

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Ep. 9: Turning Operating Expenses into Profit Opportunities: Recap of the Expense Challenge: In this episode, we wrap up the Expense Challenge with a set of exercises that help you turn your operating expenses into profit opportunities. We also recap some of the impressive results that entrepreneurs have achieved by participating in the... by Profit First Nation
23 min listen
Ep. 7: Unlocking Profit Opportunities: Expense Challenge Continues with Profit First Nation Inspiration: In this episode, we delve into the next layer of the Expense Challenge and share practical profit opportunities you can implement in your business right now. Our goal is to help you convert 10% of your current operating expenses into profit. ... by Profit First Nation
28 min listen
Ep. 23: Step #2 of Profit First Implementation: Building Your Profit Habit - Expert Tips: In this episode, our experts guide you through Step #2 of implementing Profit First - building your profit habit. Discover how to start allocating 1% of every deposit to your profit account and develop the muscle to make your business fiscally fit.... by Profit First Nation
20 min listen
Ep. 12: Crisis Management: Navigating the Five Stages of Business Crisis During COVID: The COVID pandemic has thrown businesses of all sizes into crisis-mode, and many entrepreneurs are struggling to navigate this new reality. In this episode, we explore the five stages of crisis management and help you identify where your... by Profit First Nation
34 min listen
Ep. 2: Mastering the First Three Steps of Profit First Implementation: Join us in this episode as we dive into the first three steps of implementing Profit First in your business. We discuss the crucial first step of "Getting Your Butt to the Bank" and how it sets the foundation for the entire system. We also cover steps... by Profit First Nation
24 min listen
Ep. 1: The Inception Episode: In this episode, we explore the concept of "owning your financials" and how it can transform your approach to business ownership. Guest Danielle shares her "a-ha" moment when she realized the importance of taking control of her business's finances. We... by Profit First Nation
24 min listen
Ep. 4: Mastering the Critical Step in Implementing Profit First for Business Owners: In this episode, we will discuss the most crucial step in implementing Profit First that often poses a challenge for business owners. We will address the disparity between total revenue and real revenue and provide actionable tips to overcome this... by Profit First Nation
24 min listen
BONUS: Profit First for Microgyms: A Conversation with Author John Briggs: In this special bonus episode, we dive into Profit First for Microgyms with author John Briggs. As a CPA, CEO of Incite Tax, and owner of a microgym himself, John shares his insights and real-life experiences implementing Profit First in the microgym... by Profit First Nation
24 min listen
Ep. 17: Why You Shouldn't Abdicate Your Business Financials: Tips for Working with Bookkeepers and Accountants: As a business owner, it's important to have a clear understanding of your company's financials, even if you have a bookkeeper or accountant managing your books. In this episode, we discuss the risks of completely abdicating your business... by Profit First Nation
27 min listen
Ep. 3: The Power of Going Slow in Implementing Profit First: In this episode, we delve into the first rule of Profit First, which is to go slow. We explore the concept of momentum and how small, continuous actions can create a powerful chain reaction. By allocating funds on a consistent rhythm and starting... by Profit First Nation
27 min listen
Ep. 13: Doing Profit First Right: Easy Steps to Achieving Permanent Profitability in Your Business: Profit First is a powerful system for achieving permanent profitability in your business. But how can you ensure that you're doing it right from the start? In this episode, we share easy steps for priming yourself to implement Profit First... by Profit First Nation
28 min listen
Ep. 8: Finding Profit Opportunities in Your Marketing Spend: Expense Challenge Week 3: In this episode, we dive into week three of the Expense Challenge, which reveals more profit opportunities in your business expenses. Specifically, we look at how to benchmark your marketing spend to ensure you're getting a minimum ROI. We... by Profit First Nation
27 min listen
Ep. 10:Top 17% or 83%: Which Type of Entrepreneur Are You?: In this episode, we explore the concept of top 17% versus 83% entrepreneurs and help you determine which category you fall into. We also answer seven of the most frequently asked questions related to getting started with Profit First, including how to... by Profit First Nation
30 min listen
Ep. 11: Recession Response: Strategies for Thriving in Challenging Times: In the face of economic uncertainty, many entrepreneurs are struggling to figure out how to survive and thrive. In this episode, we explore Mike Michalowicz's concept of "Recession Response" and share practical exercises and strategies for navigating... by Profit First Nation
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Ep. 61: “RIGHT” vs. “-ish”: The path to PERMANENT Profitability means staying on the straight and narrow path of doing Profit First RIGHT vs. “-ish.” In this episode we cover seven of the most common “-ish” temptations that will derail your progress on the path to... by Profit First Nation
23 min listen
Ep. 16: Beware of Wolves in Sheep's Clothing: How to Hire A-Player Bookkeepers for Your Business: Hiring the wrong bookkeeper can be a costly mistake for your business. In this episode, we discuss the importance of being wary of individuals who call themselves "bookkeepers," but lack the proper training and qualifications. Join us to learn... by Profit First Nation
32 min listen
Ep. 6: Cutting 10% of Your Operating Expenses: The Profit First Challenge: Join us for the first episode in a series focused on the challenge of cutting 10% of your operating expenses to increase your profitability. Learn why this challenge is so important and how you can take actionable steps to meet it. Plus, hear from... by Profit First Nation
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Ep. 15: Using Profit First with Credit Cards: Best Practices for Managing Cash Flow without Becoming Insidious: Credit cards can be a powerful tool for managing cash flow in your business when used responsibly. But how can you use Profit First with credit cards without becoming insidious? In this episode, we explore best practices for using credit cards... by Profit First Nation
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Ep. 46: Rich Characteristics: Today we count down Dan Miller’s 10 Rich Characteristics and do a bit of brainstorming on how to develop and further strengthen these ingredients to success in life and in business. by Profit First Nation
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Ep. 18: Safeguarding Your Company Against Embezzlement: Why You Must Act Now: No business is immune to the risk of embezzlement, and ignoring this possibility can be a costly mistake. In this episode, we discuss the uncomfortable yet crucial topic of safeguarding your company against fraud, and why you must take proactive steps... by Profit First Nation
40 min listen
Ep. 53: Michelle Campbell's Profit First Journey: Working as a Financial Advisor and Investment Advisor Representative at Wealth Strategies Financial Group, Michelle Campbell is passionate about helping individuals obtain success through investing for their unique individual situation. Hear how she... by Profit First Nation
26 min listen
Ep. 5: Exploring Rhythm Alternatives and Staying on Track with Profit First ft. Dr. Leslie Cisar: Join us on this episode as we delve into the benefits of deviating from the traditional 10th/25th rhythm in Profit First, while also emphasizing the importance of consistency. Listen in as we chat with Dr. Leslie Cisar, a naturopathic doctor and... by Profit First Nation
30 min listen
BONUS: Going Deeper into Bookkeeping: Insights from Moxie Bookkeeping's Ean Price Murphy: In this special bonus episode, we are joined by Ean Price Murphy, founder of Moxie Bookkeeping Mentoring and Consulting, for a deeper dive into the world of bookkeeping. As Mastery-Certified Profit First Professionals, Ean and our host share a passion... by Profit First Nation
23 min listen
Ep. 51: Jess & Margy’s Profit First Journey: Sometimes two heads plus a Profit First Professional are better than one! Hear about business partners’ Jess and Margy’s Profit First journey. Like typical entrepreneurs they were working harder and growing the business - successfully hitting... by Profit First Nation
25 min listen
Ep. 24: Step #3 of Profit First Implementation: The Inconvenient Bank - Expert Tips: In this episode, our experts guide you through Step #3 of implementing Profit First - the inconvenient bank. Discover how to remove the temptation of plowing money back into your business by making it inconvenient and gain valuable insights into the... by Profit First Nation
18 min listen
Ep. 20: Profit First FAQs: Answers to Your Burning Questions to Achieve Permanent Profitability: More of your Frequently Asked Questions (FAQs) addressed and answered covering a lot of ground to support you in doing Profit First “right” and keeping you on the path to permanent profitability. by Profit First Nation
21 min listen
Ep. 26: Completing Your Instant Assessment: Step-by-Step Guide to Implementing Profit First - Expert Tips: In this episode, our experts share their step-by-step guide to completing your Instant Assessment - step #5 of implementing Profit First. Discover how to use our Instant Assessment Calculator to make the process simple and easy, and gain valuable... by Profit First Nation
28 min listen
Ep. 25: Step #4 of Profit First Implementation: Determining Your Allocation Rhythm and Schedule - Expert Tips: In this episode, our experts guide you through Step #4 of implementing Profit First - determining your allocation rhythm and scheduling your first allocation day. Discover how to build your profit habit and gain valuable insights into the importance... by Profit First Nation
42 min listen
Ep. 14: Achieving Predictable Cash Flow: Using the Borrower-Lender Matrix and Emotional Intelligence to Improve Your Finances: For many business owners, achieving predictable cash flow can seem like an elusive goal. In this episode, we dive into the Borrower-Lender Matrix and explore how emotional intelligence can help you improve your finances. With the knowledge that 90% of... by Profit First Nation
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Ep. 47: Run Towards the Problem: Adam McKee of Contemporary Woods shares his authentic and transparent journey from struggling business owner to profitable entrepreneur by running towards the problem head-on like a buffalo. On this episode, Adam recounts the specific actions he took... by Profit First Nation
29 min listen

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Ep 151 Relish Your Ownership: In this episode of Profit First Nation, Danielle discusses the importance of relishing your ownership and maintaining a balance between personal and business finances. She emphasizes the need to take ownership of key areas in your business to... by Profit First Nation
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Ep 148- Q&A: Instant Assessments with Mike Michalowicz: In this episode, Danielle is joined by Mike Michalowicz, the author of Profit First, as they tackle questions from Mike's email inbox regarding doing your Instant Assessment. In addition to highlighting the importance of adhering to established profit... by Profit First Nation
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Ep 147: Switzerland Structure: In this episode of Profit First Nation, Danielle discusses the importance of the "Switzerland Structure" in your business. The Switzerland Structure is about avoiding over-dependence on a single customer, employee, or vendor to ensure the... by Profit First Nation
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Ep. 90: Banking and Payroll for Profit First Businesses: Your Burning Questions Answered

Ep. 90: Banking and Payroll for Profit First Businesses: Your Burning Questions Answered

Description

Titles in the series (100)

More Episodes from Profit First Nation