Grow your business and personal wealth–adopt a profit first approach!
Too often we see business owners paying everyone before themselves.
When this happens, they take only what is left over after paying suppliers, employees, the tax office and credit providers. Unfortunately, this often results in owners taking home less pay than their employees while harbouring all the risk.
Don’t make this mistake.
As a business owner, you should be making a comparative return to what an employee in your position would make plus a risk premium.
At C3MG Consulting, we can partner with you and help you adopt a Profit First approach to cash flow management which will reward you with remuneration that actually matches your worth, reducing your stress and allowing you to better focus on areas that will improve your business profitability and lead to sustainable growth.
What’s a Profit First approach?
Popularised in the book of the same name by Mike Michalowicz, Profit First has become a winning method for business owners to manage cash flow so that they can be paid for their hard work and achieve long-term success and growth
Instead of determining profit as the result of the following equation:
SALES – EXPENSES = PROFIT
Profit First is about flipping the equation on its head to prioritise profit over expenses:
SALES – PROFIT = EXPENSES
As a business owner, you should set clear goals as to the profit you want to achieve. By doing so, you’ll also set limits on what your expenses should be to achieve that.
It’s about planning for profit first, and determining a budget for your expenses that will not eat into profits.
We can help you implement this mindset change and set up systems, bank accounts and appropriate transfers in line with this proven model.
And with a rock-solid Profit First foundation and our support, you’ll be able to accurately budget and forecast for your business’ future.
Confidence in profits will feed future growth.
You’ll find you’ll have more opportunities to make smart investment decisions with the additional earnings you’ll be bringing in.
In this respect, our financial advisors will be able to provide you with sound guidance so you can invest income into revenue-producing assets. Indeed, the effects of consistent investment and compounding interest over an extended time will likely astonish you.
So, don’t put expenses first anymore. Schedule an appointment with C3MG Consulting to discover how we can partner with you to take your business to the next level.
