The Profit First method is built for business sustainability. Rather than being shocked at how little money your business made at the end of the year, you can actively plan for the profit you desire by keeping your expenses under control.

Profit First is designed for long-term financial success by shifting your mentality from running your business passively to actively taking control of its destiny.

The basic principle is this: you account for your profit, taxes, and income first. Then, whatever figure is left is your budget for expenses.

The idea is not to see your expenses as this gloomy cloud hovering over your business. Instead, you can work with the budget you have and create a strategy that helps your company operate smoothly within that budget.

By doing so, you can know ahead of time which expenses are likely to go out, but more importantly, you can change the expenses, depending on your projections and needs. In fact, expenses are flexible. You can make things cheaper, more efficient, or eliminate them altogether.

Indeed, you can’t alter your expenses once you have already paid them out, and once they chew out most of your income. By planning your expenses, you gain more control over your financial performance, and that’s the aim of the game!

Using this formula, you may find that your business is limited in its spending capacity and that this curbs your progress or innovation.

Yes, we are quite aware that you may have to delay some of your spending on growth in the short-term. But this is only so that you can invest in more significant opportunities in the long-term without endangering your business’s immediate survival.

It’s much wiser to invest your healthy profits back into the business than put yourself and your business at risk.

Profit First is an amazing book and system, but was written with a US market in mind. Almost everything is transferable to a Canadian market and we can help you navigate the differences in regards to sales taxes and income taxes.

Profit First business consulting has a unique approach to ensure your business’s financial success. With the help of professional consultants, we can formulate a unique strategy that sets your business up for long-term success.

Our consultants are experts in business transformation and have vast experience and skills to assist your business with scalable strategy, operations, and marketing systems built to withstand the changing tides of socio-economic demands.

Profit First strategies are built to deliver results. Using their wealth of knowledge from various industries, our Profit First consultants will work closely with your team to implement effective strategies that drive consistent financial success and take your business to the next level.

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