In today's episode, Danielle is joined by Jake A. Carlson, who shares his journey with Profit First and provides information about his Modern Leadership podcast. Jake delves into the practical implementation of the Profit First account system in his businesses, even going beyond the standard required accounts. He presents fascinating examples of the system for profitability and cautions against common pitfalls. Additionally, Jake reveals his five leadership superpowers and offers a complimentary download on his website. Through Jake's valuable insights, discover more about the reliable and proven Profit First methodology. IN THIS EPISODE: [01:43] Jake explains how he learned about Profit First and how he implemented the process into his business plans [05:31] To get started with Profit First, Jake implemented the plan page by page [07:44] Jake shares how they have added two accounts to the original five and how those operate within his business [11:07] Jakes explains how he keeps a three-month reserve in each of his accounts, which enabled him to keep operating during the first two months of Covid when there was no income [16:44] Jakes insists the clients he coaches listen to Mike on audible, and if they aren’t willing to listen, he doesn’t coach them [21:19] Jake outlines why he started the Modern Leadership Podcast, and he discusses what the Leadership Power Assessment is   KEY TAKEAWAYS:  First Profit can help your business succeed if you follow it wholeheartedly.  Accounts should maintain at least a three-month reserve to provide peace of mind. A true leader is a person who not only supports the employees but listens to them.   GUEST BIOGRAPHY: Jake A. Carlson An attorney, recognized business leader, inspiring presenter, and popular podcast host. A natural storyteller who loves listening to your story and exploring what matters most to you. I earned my law degree (JD) from California Western School of Law concurrently with a business degree (MBA) from San Diego State University, attending on a Creative Problem-Solving Scholarship and receiving the 2005 Outstanding Case Award for best MBA consulting project—a licensed member of the State Bar of Arizona. I began my career in the nonprofit sector as Associate Regional Director and then as National Major Gifts Counsel, an in-house tax counsel position with the Boy Scouts of America National Foundation. In these positions, I was first introduced to the idea of leaving not just your valuables but your values to the people you love most. Working with hundreds of families on tax estate strategies, I developed the Values-Based Estate Planning strategy used by LifePlan Legal today. I have personally presented to over 200 groups in 27 states on estate planning and protecting your legacy and authored over 100 leadership articles on influence, legacy, family vision, and the Values-Based Estate Planning process. As host of the Modern Leadership Podcast and Family Before Fortune Podcast since 2014, I have had the privilege of interviewing hundreds of recognized executives.   Jake A. Carlson - Linkedin Family Before Fortune - Website Jake A. Carlson - Website LifePlan Legal AZ  - Website Jake A Carlson - Twitter Jack Carlson 408 - Twitter   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books