Episode 030 – Stop Fighting Profit First: Implementation Tips & Alternatives
About This Episode
Profit First is still a thing. Although the concept is easy enough to grasp, for some CEOs, implementation can be elusive.
In this episode, I walk you through if the Profit First system is right for you and your business, as well as – what it is (and isn’t), how to implement it, who it works best for, does it actually work…some alternatives and recommendations.
If you’d like to get my eyes on your business and get a personalized implementation plan, grab some time on my calendar by going to thecommoncents.com/consult
Highlights of this episode:
- 02:15 What Profit First is
- 06:29 What it is not
- 09:00 How can it be implemented with ease?
- 10:45 Some questions to contemplate before implementing this type of system
- 13:55 Who does Profit First work best for?
- 14:48 Does this system actually work?
- 16:00 A few alternatives to Profit First and recommendations
- 18:45 What to skip for now and what to do instead
- 21:19 How can you customize to your habits and business needs
- 26:00 Should you use a system like Profit First at all…
- Kill The Vanity Metrics Challenge
- Money Matters Checklist
- Money Metrics Tracker Bundle
- Paying Yourself: Episode 14 & Episode 15
- Payroll service for small businesses – Gusto
- Profit First (book) – Mike Michalowicz
- Profit First (website)