What are your biggest questions about profit?

By June 28, 2016CEO Tips, General Biz

Profit First Summer School is starting July 8th – and I’m curious to know:

Could be about making more? Keeping more? Spending less? Creating a budget?

Post your questions here and I’ll be sure to answer them during our LIVE classes.

 

 

  • Amanda Holges

    I am looking to make my first profit in my business so knowing the key numbers to track and keep an eye on would be good.

  • Diana Dorell

    How to pay off my business credit card debt as well as grow and now what to pay myself from the profits coming in every month.

  • I read the first few chapters of Profit First a few months ago, and I liked the idea of it. I did open another bank account, but because of debt/bad credit scores, I can’t open more bank accounts. I have biz and my personal expenses all mixed up, and I know it is time to detangle them. I have never had a Profit/Lost statement and I don’t even know what those look like. I was looking at taking a basic bookkeeping class at the local community college this upcoming semester so that I can figure it out. I have a lot of credit card debt and student loans in default. I am ready to face this, get right in alignment, and start to pay myself make profit!

    Oh and to have to budget that feels fun and exciting would be great. I would like to expand my businesses, and be more conscious with my money.

  • Anna

    I want to know how to manage the Profit First system and pay off credit card debt at the same time, what account does that some from?

  • Melanie Tucker

    How do I handle erratic income? I have read ProfitFirst and set up the 5 accounts but I have difficulty executing the plan because my income is not consistent and, for some months, it is not high enough to meet my (non-negotiable) expenses like the mortgage.
    Thank you!

  • Lisa Smith

    How to create a budget when income–and even some expenses–are unpredictable; also, what to track, what systems to use to track

  • Kathy Smith

    I hope the info will be presented in layperson’s terms. I can figure numbers but some of the calculations in the book make my head spin (as easy as it’s supposed to be:).

    • tinaforsyth

      absolutely! i’m all about keeping it simple

  • Monica Muir

    Hey Tina –
    Am looking forward to delving in more :-). I’m hoping you have an easy system for determining expenses when most of mine (but not all) are paid by credit card so they hit my P & L this month but I make the credit card payment the following month. Thanks!

  • Jean DiGiovanna

    I’m excited to join your class! I got the book back when we were in CBN when I had heard about it, but haven’t opened it up yet šŸ™‚ I would like to learn more about what numbers to look at most in my business and how to better track my progress. Thanks a million!

    • tinaforsyth

      perf!

  • Hi Tina! We are so excited to implement more of Profit First with you! As a business that is growing so fast that it’s challenging to keep up, we have questions about implementation: (1) Some of our monthly income qualifies for affiliate commissions and some does not, how do we take affiliate commissions off the top in a systematized way and apply the Profit First percentages after that. (2) How to setup a budget that is systematized, but also flexible, as opportunities come up, things change, etc (3) what reports do we need to receive on a weekly and monthly basis to make this work smoothly. I’m sure there’s more, but I’ll start there. Thanks Tina! So excited!

    • tinaforsyth

      awesome – I will bare all šŸ™‚

  • Lara

    As an independent contractor, income can fluctuate from month-to-month; I’d like to create a plan for saving monthly for retirement and paying myself regularly. Security is so important to me and I tend to worry if I don’t have savings + retirement and I’d love to feel more freedom when I take time off instead of worrying about losing income.

    • tinaforsyth

      perf!

  • Bert Debusschere

    I would like to see how the Profit First Approach is applied to a business that you run part time, with very low frequency of transactions (e.g. a few jobs per year that generate income). So the business is not providing a significant source of income.

    • tinaforsyth

      it works for any biz – part time or otherwise šŸ™‚

  • Cyndie Wilhelm Phillippe

    I’m interested in learning how the approach to managing and budgeting money is different with Profit First. I have been budgeting and managing business cash flow for a long time. So there must be a mind shift or a different approach to the whole managing/budgeting process to consider profit first.

    • tinaforsyth

      will be curious to see how this differs from what you do already Cyndie

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