Profit First

Three key ideas

1. 1The book says to set aside a realistic share of incoming cash for profit before operating expenses.
2. 2Give cash separate jobs: profit, owner pay, tax and operations, not one balance to spend.
3. 3Owner pay is for the owner's work. Profit is the return for owning the business.

The five 2-minute lessons

1. 1.Pay your profit first
2. 2.Give cash separate jobs
3. 3.Owner pay is not profit
4. 4.Let limits sharpen the work
5. 5.Review and keep the buckets honest

From the comic

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