Is your business a cash eating monster?
What is Profit First?
Profit First is a system that focuses on cash in the bank Profit and sustainable cash flow for all areas of your business.
It will empower you as the business owner to build a financial foundation that you can continually grow by implementing money management strategies specific to your business.
Most importantly, once implemented, it will generate profit for you from the very first deposit.
Who is Profit First suited to?
Whether you are brand new in business or have been in business for a number of years, Profit First is for you.
If you can answer YES to any of the questions below then Profit First is for you.
Are you in a position where you cannot or do not pay yourself?
Are you struggling to pay bills or staff wages when they fall due?
Do you have ATO debt?
Have you been told by your Tax Agent that you have made a Profit, but you cannot understand why that money isn’t in your Bank account and you now have a tax bill and no money to pay it?
Are financial worries keeping you awake at night?
Do you as the business owner know how to generate income in your business but understanding where the money is going is a mystery?
Do you have business financial goals that you are aiming for but no idea how to achieve them?
P.S. just a little FYI- Profit First is suitable for EVERY business in ANY Industry.
The Savvy Profit First Story- YES we absolutely use Profit First in our business.
After many years undertaking Bookkeeping and Management meetings with clients trying to assist them to understand their Financial Reports, I realised I was falling short on my delivery, I thought there must be an easier way.
Enter stage left Profit First-
As I read through the book, I implemented Profit First in my business. It very quickly became apparent to me that this was the missing piece of information that would simplify cash flow information and successful businesses for my clients.
In fact, it made a huge difference in my own business as I could physically see the outcomes I was achieving every time I logged into my bank accounts.
Profit First initially challenges what we as Bookkeepers are taught in mainstream schooling however it makes so much sense. It’s counter intuitive. I am so grateful to have been challenged in my thinking. Profit First will be a “forever” process in my business.
Sales – Expenses = Profit
Sales – Profit = Expenses
One on One coaching to go through Profit First Implementation and beyond.
Profit Mentoring Package is for a minimum of 6 months and includes-
⁃ Profit First Assessment
⁃ Monthly accountability and review sessions
⁃ Fortnightly check in emails
⁃ Allocations Calculator access for your regular transfers
⁃ Expenses review
⁃ Debt assessment and elimination plans
⁃ Quarterly Profit distributions
This package is designed for the business owner who would like their hand held through the process. This package will maximise your Profit First Implementation, financial knowledge of your business and keep you accountable to your goals
My intention is to remove the confusion and make the complex simple for you regarding the financial position of your business.
Contact Savvy to sign up for Profit mentoring in your business.
Profit First Assessment
The Profit First Assessment uses historical financial data to provide the baseline of your business finances, trends and habits.
Once we have established the baseline we can provide a roll out plan for you to implement over the next 12-18 months.
⁃ Review of your last 12-24 months financial data
⁃ Identifying Profit,(this isn’t what you see on your Profit and Loss report), Owners Compensation (what you the business owner receive), Tax (paid to the ATO) and Operating Expenses.
⁃ Determining your Current Allocation Percentages (CAPS)
⁃ Rollout plan for you to implement changing your CAPS to Target Allocation Percentages (TAPS)
⁃ Written report that includes findings and suggested areas to review.
This package is designed for those wanting to implement Profit First themselves with accurate data and roll out plan bespoke for their own business.
Contact Savvy to sign up for a Profit First Assessment on your business.