Struggling with business finances? Our guide provides actionable tips and strategies to improve your financial literacy and management skills and drive business growth.
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Why do I love Profit First?
First: Because it Works! It has changed my business and helped most of the companies I work with become more profitable, build up cash reserves, and fuel growth in their business.
Second because Profit First is so easy to understand and get started!
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Too often, business owners become the victim of poor cash planning or “swiss cheese” style of cash management -- letting cash leak out of the business simply by not paying enough attention to expenses. In fact, 82% of businesses fail because of cash flow problems (according to a US Bank study,).
Being proactive and strategic in managing cash is critical to your business success. And the best way to do that is to start by crafting a detailed cash flow plan.
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Your quarterly review shouldn’t be a huge, burdensome process. In fact, the review process should be simple and energizing for everyone involved. It’s an opportunity to reconnect your team to your shared purpose, and make sure everyone is clear on the goals you are pursuing as a company.
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Too many business owners leave their personal lives out of the financial equation. They’re so focused on the business’ ‘success’ that they never stop to consider where they want to be in relationship to it — now and in the future.
The thing is, we’re not just business owners, we’re people with families, retirement goals and any host of other responsibilities.
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