Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
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Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Money is the foundation. Without enough money, we cannot take our message, our products, or our services to the world. Without enough money, we are slaves to the businesses we launched. I find this hilarious because, in large part, we started our businesses because we wanted to be free. Without enough money, we cannot fully realize our authentic
... See moreSelling more is the most difficult way to increase profits, because in the best-case scenarios, the percentages stay the same; and in the worst-case more common scenarios, expenses generated to support sales increase faster, resulting in smaller percentages and a smaller profit margin.
no matter what the number is, if you work toward it and believe it’s a possibility, you will not only achieve it, you will blow past the “reasonable” numbers others have set.
From $1,000,000 to $5,000,000, systems are no longer added because they are nice to have; now systems become absolutely mandatory. You can’t keep it all in your head anymore.
Cutting costs is embarrassing. You have a reputation. You always pay for dinner or drive the nice car. You are the “nice” boss who throws pizza parties and gives sweet holiday bonuses.
Profit must be baked into your business. Every day, every transaction, every moment. Profit is not an event. Profit is a habit. Do you know the saying “Revenue is vanity, profit is sanity, and cash is king”?
In 1955, a modern philosopher named C. Northcote Parkinson came up with the counterintuitive Parkinson’s Law: that the demand for something expands to match its supply.
Start slow. Real slow. Put the percentages at a level where there is no excuse not to try.
Do your allocations and payables twice a month (specifically, on the tenth and twenty-fifth).