How We Got Started with Profit First
I have to give all of the props to one of my current clients, we’ll call her Jane. On August 24, 2014, Jane e-mailed me the PDF of the first 5 chapters of a book called Profit First by Mike Michalowicz and said, “I would like to implement Profit First process in my business. Can you take a look at how to break out my accounts into the buckets he describes based on my income and expenses? I will want to complete the assessment when I get back. This might be something you use with some of your clients.”
She knows me pretty well and it has changed my business in more ways than I can count. But I’m going to try over the next several months through this blog to help you understand how the Profit First process can also change yours.
Back to when I received that e-mail. My mind said, “Like I need something else right now. And yet, I have clients with different needs so why not?”
I sat down Friday afternoon Labor Day weekend 2014, only ONE short week later to see what this was all about.
And I couldn’t stop reading ALL weekend. My family was home to play but I wanted to read, read, read. I’d never read anything about accounting written from the entrepreneur’s perspective so this was enlightening to understand how an entrepreneur thinks, but also how I might really be able to help so many of my current clients as Jane had suggested.
I also couldn’t stop talking to my husband about what I was reading and how it applied to XYZ client or ABC client or Client 123. Every page applied to someone and sometimes it applied to each and every one of my clients. AND IT EVEN APPLIED TO ME! Eeek! Now that was something to think about.
That Tuesday morning I called Profit First Headquarters to learn more about the Profit First Professional Certification and get help with Jane’s Assessment. I scheduled a call with Ron for Thursday and by the end of the week I was on my way to becoming a Certified Profit First Professional.
But first, I had to implement Profit First in my own business. Come back next month to learn why I was excited and a little scared to implement Profit First in my own business and how I did it. Eventually, you might even get an update on Jane to whom I am deeply indebted – I have no idea if or when I would have found this book if not for Jane.
Also, please follow our Facebook page for more regular stories and tips on implementing Profit First in your business.
Connect with Shannon:
Facebook Group: Profit First for Fitness Business Owners
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Shannon Simmons, a 10-year business owner, and 5-year Profit First Coach is the owner of Netbooks Accounting Services, LLC. She is one of the original Profit First Professionals when the concept was created by Mike Michalowicz.
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