When To Implement Profit First in a New Startup

Posted on
January 17, 2019
in
Profit First Methodology
Posted by
Ronald B. Allen

When Should I Implement Profit First In My New Business?

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.

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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.

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Take Profit First To Help Avoid Business Failure

by
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|
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No one wants their small business to fail or end up in bankruptcy. Protect yours by using the Profit First bookkeeping system.

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Should Your Accounts be Checking or Savings?

by
Ronald B. Allen
|
July 3, 2018

Learn what accounts are needed when using the Profit First method. Also find out which of those accounts should be a savings and which should be a checking. Set up your accounts now and start maximizing your profits!