Have you asked your accountant about using Profit First, only to feel they’re giving...
Life as a marketing professional is never dull. Enjoying the variety of a multi-faceted job description means your day could include anything from sales and strategy meetings, product development and research followed by some statistics analytics (try saying that 5 times fast!), throw in a bit of psychology when understanding your target market and of course staying on top of recent trends when it comes to communicating (Print, TV, Radio, Email, and a BIG Hello Social Media!) with said audience.
Did I mention running events, syncing calendars, promoting launch dates, initiating and devising campaigns all with the common goal in mind of converting across as many sales as possible? Oh, and of course, to keep it on budget!
Yes, the role of a marketing professional is a creative one. One where your brain’s right hemisphere works overtime, but that doesn’t mean that your analytical and logical left side of the brain remains off the hook entirely. Particularly when you are running your own marketing business.
Ready to revolutionise your business's financial approach? Join us on a journey to financial success by embracing the Profit First Methodology. Partner with us now and pave the way for a brighter financial future.
With statistics, conversion rates and margins playing the lead when it comes to numbers that you need to know when it comes to your client’s businesses (as well as your own), it’s time for you to consider the other numbers that really should be the focus of your business journey. These include:
Is your business turning a tangible profit?
Are you paying yourself regularly?
Are you charging what you are worth?
Do you have the capacity for this within your current structure?
Do you want to run your business debt-free?
Do you suffer with anxiety when an invoice needs to be paid?
Where is your money going?
Here is where I would like to introduce you to Profit First. A revolutionary cash management methodology that actually works. Its goal is simple… take your Profit First!
Taking a deep dive into your spending habits can be confronting, but it is essential to the cause. When taking a look at our outgoings, you can assess whether they are actually necessary to run your business. This is where I suggest you start:
How many are you paying for that you actually use?
Are you utilising these to the fullest, perhaps you can reduce these?
Computer, Screens, Phone, Printer
How is the ROI by attending conferences, seminars, webinars
Your expenses to open the doors, eg rent, electricity, internet etc. The leaner you can run your business the more money you can turn into Profit. Remember that many of these businesses can be run virtually. Do you need to rent an office space, is working from home an option? If so, this can cut down operating expenses drastically.
The secret to success is in setting up 5 key separate bank accounts.
Once you have these accounts set up, all of your incoming money goes directly to your Revenue / Income account. From there it is allocated to the other accounts according to a predetermined percentage (we can help you with this part).
This system allows you to have money sitting there waiting for you to use it. Say Goodbye to juggling, begging, and borrowing to pay invoices. Say hello to clear and tangible profits – not just numbers on a balance sheet.
The best part of the process is without a doubt Profit Allocation Day! Yep, that’s when you get your hands on your hard-earned profit. Where you can go ahead and treat yo’self to those new pair of shoes you have been converting – GUILT FREE!
So if this innovative money management strategy is exactly what you have been needing in your life, but didn’t know existed, then consider this YOUR SIGN!
Book a discovery call with us today, so you can manage your business finances with the skill and expertise on which you pride yourself when it comes to the results you achieve for your clients.
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