Profit First
Cost-Effective Marketing To Improve Your Profits
Regardless of the current economic outlook or the size of your organization, as an astute business manager, you’re always searching for ways to reduce expenses and improve your bottom line. If we have run a Profit First Analysis of your business, its likely that you learned that your operating expenses are just too high! Here are six…
Read MoreREALLY Moving the Needle Toward Profitability In Your Business
At the beginning of the year, I said that in order to really move the needle on profitability, you must focus on two key areas of your business: Products (the items or services you sell) People (the staff you employ and the people you serve) Today, I want to hone in on People. It’s been said:…
Read MoreMoving the Needle Toward Profitability In Your Business
On this first day of the year, we want to discuss first of two critical components that can really help you move the needle toward profitability in your business. Products (The Items or or Services You Sell) People (The Staff You Employ and the Clients You Serve) Why are we talking about products and services? Because they…
Read MoreWhittling Down Your Operating Expenses
We recently discussed setting up your Profit First bank accounts. But now, it’s time to dissect that infamous line item- Operating Expenses. We hate them. They keep us up a night. They can become like a runaway train. Before Profit First, you wouldn’t really know whether your expenses were too high for your size business. But most business owners…
Read MoreHow to Set Up Your Profit First Accounts
In a recent post I likened typical Bank Balance Accounting to a financial gumbo, where all the key ingredients of a business are swirling around in one pot. Then, I introduced Profit First and explained why it’s SO needed in our businesses. I said: Profit First teaches us that we should take those ingredients out and…
Read MoreHow Profit First Can Separate the Ingredients of Financial Gumbo
Recently, I told you how my young business lacked a plan and was held together by Band-Aids and Duct Tape. But then, this marvelous book Profit First came into my periphery. This week, I want to share more about Profit First. To recap, the standard GAAP (Generally Accepted Accounting Principles) equation for finances is: Income –…
Read MoreHeld Together By Band-Aids and Duct Tape Before Profit First
I recently told you my BIG WHY that propelled me into business and also what keeps me motivated to push forward. Where I left off was after I started the company. You see, when I started Dana McGuffin CPA, I didn’t really have a “business plan”. My plan was to secure an office, hire the right marketing…
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