Take the 1% Profit Challenge
Seeing is believing! Want to experience the benefits of putting your profits first? Follow these five simple steps then watch your account grow!
Here’s how:
Open up a separate bank account and title it “Profit”.
At least twice per month, before paying any expenses, take 1% of your income and move it to your new Profit account.
Once per quarter, post in our Facebook group and tell us how you plan to use the money in your Profit account.
Celebrate your success! When you reach your goal and use the savings from your profit account, post to our Facebook group so we can celebrate with you.
Once you see how much more profit you are earning from taking just 1% of your profit first, we’re confident you’ll want to learn more! The Green Executive Certified Profit First Coaches are here to teach you more ways to implement this strategy to maximize your earnings.
Change the way you look at bookkeeping with Profit First.
According to GAAP, or Generally Accepted Accounting Principles, the proper formula for determining a business’s profit is to take your total revenue and subtract your expenses, leaving you with your profit. In other words:
Sales - Expenses = Profit
This formula is widely accepted for calculating profits. While it seems simple, logical, and clear – there is a better way!
A Smarter Way to Do Business
You work hard - you deserve to make a profit that makes it all worth it.
By turning the traditional formula for calculating profits on its head, Profit First is the optimal way to manage your business and maximize your returns.
Profit First teaches business owners an established method to set aside profits in separate accounts. Thus, alleviating the temptation to “borrow” funds from profits. This forces business owners to adapt and improve their operating strategies while allowing for regular profit distributions.
