You’ve done well putting everything into place to get to this point, but you have this feeling there’s a better way. A streamlined way to take your business to a higher level.
You’re done letting your systems hold you back.
You’re ready to put down the spinning plates and be the Master of your Business. This is YOUR circus, and you are ready to tame those monkeys!
The Path to Streamline and Profits
You’re ready for the next step, but you’ll have to unravel the creation bit by bit. We start by cleaning up the accounts, paying you, and making strides towards profitability.
To do this, you’ll need new skills and practices to implement Today, Next Week, and on an Ongoing basis. They’re all laid out below for you to refer back to when it’s time, but don’t worry, I’ve got you, and I’ll guide you through this journey as well.
You’re juggling a lot to keep everything going. And you’ve done a great job, but have you ever checked for and followed up on outstanding invoices?
In your accounting software, you can typically run what’s called an Open Invoice Report. This will show who still owes you or where you forgot to match a payment to an invoice.
While you’re in your system, you may see some transactions you don’t think have a home or belong in your system anymore. I want to encourage you Never to Delete until you’ve spoken to your accountant or bookkeeper. You can mark them instead as “Ask Your Accountant” by following these simple steps.
Then, that report can be run later and the whole list gone over to determine what to do with the curious entries, how to prevent the situation from happening again, and prevent a domino effect from messing with your whole system (I’ve seen it happen too many times!).
Alright, tell it to me straight- are you paying yourself?
Not just covering bills, but actually, paying yourself with money the business makes?
Yes, you do deserve it. Yes, the business can make it as we build this system correctly, and again YOU DESERVE IT!
So here’s what I want you to do. Using the Assessment found in my subscriber hub, follow the instructions to determine what pay percentage is your TAP (target allocation percentage), then calculate your CAP (current allocation percentage).
It’s okay if they are far off. What matters is you see the difference, and we make a plan to get you closer to the target slowly over time as the business balances. Even moving 1% at a time to the right percentage will get you there quicker than hoping you’ll get a proper paycheck one day!
Any questions, pop them into the Permanently Profitable Facebook Group, and I’ll be there to help.
Okay, so you’ve put on your own oxygen mask and are now ready to assist everyone else. Let’s turn our attention from not just paying you but to increasing Profit!
Looking back at that Assessment you completed in the Next Week section ☝, how close is your current profit percentage from the TAP (target)?
Are you at 0 or even a loss and looking at a target of 15% or heck, 5% and thinking how is that possible? I have debt. I just started paying myself. I can’t fund a profit account. What do I do?
Well, getting started is the most important thing! If your cash flow is challenging, take control back and start with 1% in your Profit Account.
That’s $10 for every $1,000. Or $1 for every $100.
You are creating life-changing habits and disciplines. Have patience and grace with yourself, and don’t be afraid to start small- but do Start!
Meet Christina, Your Profit Guide
I have a passion for entrepreneurs who have so many plates in the air while doing so many things that money and how to manage it are overwhelming.
You can’t always afford to have someone come in and fix everything. Sometimes you can get advice from people, but sometimes you just need a very basic, quick, and simple system to follow.
That’s my Permanently Profitable system based on the Profit First book. And creating Permanently Profitable systems for you is why I’m here.
When you need free resources and some questions answered, I’m here for you in the Permanently Profitable Facebook Group.
If you’ve read the book and need some clarification and walkthrough of the system, I have a course.
If you want a team of fellow business owners working through the process with you, there’s a boot camp option for the course too.
Whichever way you need support to get Profit First implemented into your business, so you have a system in place to become Permanently Profitable, I’m here to help you create it!
Curated Resources for You
- 55% off your first 3 months of QBO
- Subscriber Hub - Free Resources (Freesources)
- Need some help setting up your QuickBooks online? Courtney Boudet has a great course for that!
So honored and pleased to be your guide,
Christina Springstead, MBA, CPFP
Profit Coach & Strategic Bookkeeper
P.S. Keep an eye on your inbox. You’ll receive an email with a link to this page so you can refer back as you need.