We were all taught an incorrect formula: Revenue - Expenses = Profit. This means your expenses can be as large as your revenue (or larger), and you end up with no profit. Instead, we show you the secret profit formula: Revenue - Profit = Expenses! This way, whenever you make revenue, you take your profit and set it aside. Now what is left is what must equal your expenses, so the side benefit is that you force yourself to operate within your means.

Look at how you run your business from one bank account – you never know if the money in there is profit, payroll, coming out as a monthly subscription charge, investor funds, bank loan, etc. So one of the big steps with Profit First is to set up multiple bank accounts so you can move specific money "out of sight, out of mind", so to speak. If you transfer your profit to another account, your taxes to a different one, your payroll to a third, etc., pretty soon all you have left is your daily/monthly operational expenses, so you know what you have to spend (or not).

YES! We have several free tools that we include with the book so you can get evaluate your current situation and get started quickly with Profit First.

YES! We understand that sometimes you don't have time to read a book, but you do have time to listen while you drive or walk. In fact, we include the audiobook version with the free book version.