The outcome of implementing Profit First has given us clarity and confidence on where the money is going.
Firstly, Having an income only account makes it clear how much money is coming in.
Moving the expenses out of our income account gave me a great opportunity to review and to reduce what was no longer needed straight away.
Secondly, having separated our business expenses and materials and subs created clarity on cash flow for our outgoings.
Thirdly, allocating owners’ pay has the benefit of both making the business financial position easier to understand and also ensuring we have enough to live on personally.
I am sure that without Kim’s support we would not have fully implemented Profit First. Throughout the implementation it raised many questions and having Kim to support, guide and encourage us to persevere was invaluable.
Thank you so much Kim for guiding us through the Profit First Process and sticking with us.