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PROFIT FIRST – Step 4: Be Brilliant At One Thing

PROFIT FIRST – Step 4: Be Brilliant At One Thing

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...
PROFIT FIRST – Step 3: Take Baby Steps

PROFIT FIRST – Step 3: Take Baby Steps

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...
PROFIT FIRST – Step 2: Put Your Profit First

PROFIT FIRST – Step 2: Put Your Profit First

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!...