If you have just started a business and are contemplating if and when you should implement Profit First, the answer is Immediately!!
In fact, the sooner you start with Profit First the sooner you will master financial discipline and force your business to run efficiently. No matter how new or established your business is, you should not wait to implement Profit First!
This is also the answer to the question “Can I implement the Profit First system before my business is profitable?”
Always start right away! By implementing the system, you will force profitability, not wait for it. Start at a low percentage for profit….Maybe 1% but get started NOW!!
What are you waiting for! Create your habit of financial discipline today and watch the success of your business and your profits begin to rise!
If you have questions or want help implementing Profit First into your business, schedule now or give us a call at (816) 394-6818.
When you are doing lots of business but not seeing more on the bottom line, ask yourself, are your profits in focus? Then consider converting to Profit First.
A penny saved is a penny earned and every dollar you move to a Vault account is safer from being spent unwisely. Put part of your profit allocation in Vault.
Read and understand an example of Real Revenue being used in a business to get a better idea of what it is and why it is so important in the Profit First method.