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“Profit First isn’t necessary.” This is one of the objections we hear most often from accountants and bookkeepers. And, as much as it pains us to say it, they are correct. Profit First isn’t necessary… if you’re already wired to think like a financial professional. Which most business owners are not. In fact, I’d go … Continue reading… “Profit First Isn’t Necessary”

In part one of this two-part series on the “D” word, we defined the two uses of business debt. As a recap, you can either Leverage debt to strategically improve your business’s profitability (this is the “good” debt), or Use a debt bridge to cover expenses that exceed your business’s income (this is the “bad” … Continue reading… “Let’s Talk about Debt, Baby
(Part 2)“

Debt. It’s the four-letter word everyone wants to avoid, and yet we can’t stop talking about it. Whether it’s personal debt levels or the government debt ceiling, everywhere we look there is a discussion happening about debt. There’s a common misconception that through the lens of Profit First, debt is always bad. But debt can … Continue reading… “Let’s Talk about Debt, Baby
(Part 1)“

You may have already heard by now, but we’re thrilled to announce that Relay is an official banking platform for Profit First Professionals. Many of our members already know and love Relay. But in case you don’t know them, Relay is a business banking and money management platform that is thoughtfully designed to help you … Continue reading… “Relay is now an official banking platform of Profit First”

A couple of weeks ago, the following email landed in our support inbox: “WOW…PROFITS FIRST? Really? Not ‘PEOPLE FIRST’? Really doesn’t say much about the corporate culture there.” And that got me to thinking: It’s time to write a blog about this particular elephant in the room. Profit and corporate greed We’ve all heard the … Continue reading… “Profit First? Ew.”

The accounting industry spends billions of dollars each year on technology. Ten short years ago, the majority of that spend was in once-every-few-years equipment and software purchases. A firm could spend a few thousand dollars on a computer and software for each employee, then breathe easily for a few years until upgrades were needed. Today, … Continue reading… “Why Your Firm Needs a Technology Account”

Did you know April is Financial Literacy Awareness Month in the US? As declared by President Biden in 2021, the month of April is dedicated to helping educate the public on long-term financial success. By mid-April, most Americans have handled their taxes and feel the need to be in better financial shape next time Tax … Continue reading… “Leveraging Financial Literacy Awareness Month”

You already provide advisory services to your clients. Cash flow management and forecasting are second nature to you. And, on top of that, you’ve read Profit First. So, why should you become a Certified Profit First Professional? Lessons from the pharmaceutical industry Tylenol. Benadryl. Claritin. These are well-known brand name drugs. So well-known, in fact, … Continue reading… “What’s In a Name?”

We make thousands of decisions every day. “What should I wear today?” “How much should I charge for this service?” “Should I keep this client?” And then the one I love to hate: “What’s for dinner?” AARGH! Decision fatigue is real, and it impedes our ability to continue to make sound decisions. In fact, by … Continue reading… “Let’s Make a Decision”

“Is cash king?” my friend asked me. With all the confidence in the world, I said, “Duh! Of course it is!” But then I started thinking about it. And I wondered… is cash really king? As you read this, you’re probably thinking, “Yes, Ron! Cash is king! It’s the blood that flows through the veins … Continue reading… “Cash is King?”

clean (someone/something) up verb to make a person or place clean and tidy Growing up in the 70’s and 80’s was a ton of fun. We played outside every day, and we made a mess!!! I can’t recall a day when my mother did not tell me to “clean up that mess!” Yes, with an … Continue reading… “Don’t Call It a Cleanup!”

In our last article, we decoded CAS – client advisory services – and uncovered some of the reasons why this offering has grown at more than double the rate of traditional accounting services in the past few years. Given its popularity – and its profitability – it’s obvious that CAS should be an area of … Continue reading… “The Two Elements of Future-Focused CAS”