Ep. 20: Profit First FAQs: Answers to Your Burning Questions to Achieve Permanent Profitability

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Ep. 20: Profit First FAQs: Answers to Your Burning Questions to Achieve Permanent Profitability

FromProfit First Nation

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Length:

21 minutes

Released:

Aug 27, 2020

Format:

Podcast episode

Description

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.

Released:

Aug 27, 2020

Format:

Podcast episode

Titles in the series (100)

A podcast for the top 17% of entrepreneurs.

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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. 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
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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
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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
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Ep. 22: Start Phase of Implementing Profit First: Tips for Getting Your Butt to the Bank - Expert Advice: In this episode, our experts guide you through the Start Phase of implementing Profit First, beginning with Step #1 - getting your butt to the bank! Discover the importance of physically going to the bank to establish a financial rhythm and start... by Profit First Nation
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Ep. 19: Exploring Entrepreneurial Trauma and Debunking Common Myths with Profit First Nation's Krystel Stacey: Join us for an enlightening episode as we delve into the world of entrepreneurial trauma and dispel some of the most common myths surrounding entrepreneurship. And, to end on a high note, we hear from Krystel Stacey, entrepreneur and author, who... by Profit First Nation
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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
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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
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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
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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
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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. 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
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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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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
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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. 65: DRIP-DRIP-DRIP: Billie Anne Grigg is back sharing as Profit First Professional’s Chief Guide and we dive into how to leverage DRIP accounts from two perspectives. The first perspective is for retainer-based businesses that need to manage “unearned revenue” from... by Profit First Nation
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Ep. 21: Profit First 101: The Journey of Transformation and 12 Steps to Permanent Profitability: Join the kick off to our Profit First 101 series as we discuss the “The Journey of Transformation” model. Additionally, we review Profit First’s three phases of implementation and corresponding 12 steps. If you have yet to start implementing... 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. 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
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Ep. 60: You’ve Got This Q&A: As with all episodes ending in “0” we are answering your questions. Today’s topics include: 1. )What to do with “forgiven” PPP loan proceeds; 2.) How to handle Owner’s Comp when there is more than one equity owner; and 3.) What to do with... by Profit First Nation
21 min listen
Ep. 56: Simple Numbers with Greg Crabtree: Greg Crabtree, the author of Simple Numbers joins the podcast to talk about his two books and how they allow entrepreneurs to slice and dice their accounting into meaningful metrics that then allow them to bump those numbers against proven... by Profit First Nation
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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

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Ep. 20: Profit First FAQs: Answers to Your Burning Questions to Achieve Permanent Profitability

Ep. 20: Profit First FAQs: Answers to Your Burning Questions to Achieve Permanent Profitability

Description

Titles in the series (100)

More Episodes from Profit First Nation