by Eric Johnson | Dec 21, 2021 | Business Tips, Profit, Profit First, Taxes
Everyone likes being profitable, yet no one likes paying taxes. So, how can we reduce taxes without reducing net profit? Retirement Contributions Making contributions to your qualified retirement plan (SEP/SIMPLE IRA; Solo 401-K; etc) through your business can reduce...
by Shannon Simmons | Dec 7, 2021 | Business Tips, Profit, Profit First
If you’re trying to increase your business profits (and who isn’t?), you might think the sure-fire way to do that is simply to raise your prices. If your customers pay more, you’ll make more. Right? Not necessarily. Well, if you’re using the Profit First method,...
by Eric Johnson | Aug 10, 2021 | OpEx, Profit, Profit First
Who doesn’t want a more profitable business? We’re in business to help people, sure, but we’re also here to make a living. And if we want to make a good living with a business, we need to be profitable. Generally, there are two ways to increase your profit: Increase...
by Shannon Simmons | Mar 9, 2021 | Income, Profit
There is a lot of thought/opinion/advice when it comes to diversification and creating different revenue streams within a particular business model. The “don’t put your eggs all in one basket” theory. And it sounds good. If one “stream”...
by Shannon Simmons | Feb 16, 2021 | Order, Profit
A lot of business owners start out doing their books in Excel. It’s something they know, and they’re not ready to pay for a service like QuickBooks Online or to pay a bookkeeper. In Excel, you can sort columns and rows, set up formulas to add up transactions, color...
by Shannon Simmons | Dec 15, 2020 | Profit, Profit First
There’s a lot of marketing noise and advice out there in every industry, but in the gym and fitness industry there seems to be even more. After all, we’ve had to close up shop this year, bring on more health and cleaning expenses and even pivot to the online...
