by Jayne Kilsby | Jul 22, 2021 | Business
It is time to do your first transfers, exactly how you do this part will vary slightly depending on your business. If there are certain payments you have coming in on a regular basis from subscriptions, standing orders, direct debits, or other regular payment methods,...
by Jayne Kilsby | Jul 15, 2021 | Business
It is time to set up your Profit First bank accounts. This is the slightly technical part. Create some extra bank accounts to act as small ‘buckets’ for different functions, we are going to give each bank account a purpose and in return, we will be more purposeful...
by Jayne Kilsby | Jul 8, 2021 | Business
If there’s one area that’s going to trip you up in this roll out plan it is the ‘upsell’ mentality. It goes hand-in-hand with the growth mentality, and the notion that entrepreneurs should be constantly pushing for growth. The theory is simple: sell your clients...
by Jayne Kilsby | Jul 8, 2021 | Business
Let’s say for the sake of argument that your profit margin is 15%. If you jump right in and immediately start setting aside 15% of your revenue using this method when you haven’t been allocating anything, you’re going to short-circuit your brain and it’s not going to...
by Jayne Kilsby | Jul 8, 2021 | Business
When you’re allocating money before you even get to your expenses and how much you’ll spend on what, allocate your profit margin first. When you’ve done that, allocate your taxes. The part most people find difficult is figuring out how much profit they actually want!...
by Jayne Kilsby | Jul 8, 2021 | Business
Let’s talk about business expenses – they all seem perfectly reasonable and you need them all, right. Well, there are obvious ways of saving money, like downsizing from an expensive office space to a more affordable one. When we do things like this to reduce our...
Recent Comments