by Shannon Simmons | Jan 23, 2020 | Profit First
I was frustrated, feeling like I was letting down my clients until I implemented Profit First in my fitness business. We’d have a meeting with a client and we’d go over the Profit & Loss line-by-line; I thought they got it and we made good decisions...
by Shannon Simmons | Jan 16, 2020 | Profit First
If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: • You have a balance in Accounts Receivable on your balance sheet that represents how much customers owe you• You have an...
by Shannon Simmons | Jan 9, 2020 | Profit First
January is a busy time of year for business owners and especially Fitness Business owners. With many new members trying to find their way to a better lifestyle, your studios and gyms are hopping. In the midst of all the chaos, the accounting world insists on reminding...
by Shannon Simmons | Jan 2, 2020 | Profit First
Profitability is key to sustaining any business and gym owners are not an exception. With as many workout types and preferences as there are people in the world, the most important part of opening a gym or fitness center is to figure out what you excel at and focus...
by Shannon Simmons | Aug 16, 2019 | Profit First
The core of effective financial management lies in the ability to consistently generate positive outcomes. This requires more than just luck or sporadic efforts; it demands a proven process – a systematic approach that delivers predictable results time and again. To...
by Shannon Simmons | Aug 2, 2019 | Profit First
In one of Eric Cressey’s latest articles, he reminded me that “Bigger Isn’t Better, Better Is Better”, and went on to state… “I think you’re better off taking home 50% of a $500,000/year fitness business than net 5% on a $5...
