Currently Browsing: Profit First

More Accounts

Now that you understand why you need 5 bank accounts, let me tell you why you need two additional accounts at a second bank.  Here is the thought process behind the second bank: At the second bank you will open 2 accounts: The first one is...

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Bank Accounts

5 bank accounts????  Are you serious???  Well, actually, Mike (author of Profit First) wants you to open up 7 bank accounts. 5 accounts at one bank, and 2 other accounts at ANOTHER bank. I know that sounds crazy but bare with me. ...

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How To Get Started

Now that you are ready to get started and implement Profit First into your business. Your first step is to meet with a Profit First Professional (PFP). During this meeting your PFP will need your current and last years Financials (Income Statement,...

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Why Profit First?

Profit First was first published in 2014 by Mike Michalowicz. This was a year of a lot of changes for Piña Business Services and myself. In June of 2014 I packed up my office and family and moved from East County of San Diego to Cheyenne,...

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What Is Profit First

Profit First was written by Mike Michalowicz in 2014. A book to help end entrepreneurial poverty. By taking a different look at your Income Statement: Sales – Expenses = Profit to Sales – Profit = Expenses. Yes, that is right, pay yourself...

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Creating a System to Be Profitable

Why do business owners always take the leftovers? What if I told you: “You should pay yourself first!” and, “It’s okay to profit from your business. Actually, it is preferred to have a profit in your business.”...

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