023 – Profit First (You MUST Implement This Now!)

Hey there! It’s me, Jacques (a.k.a. The Online Course Guy). I’ve got another great show for you today – this time with two guests you’ll already be somewhat familiar with if you’ve been listening for a while.Tim Geiss and Nate Dodson were with me talking about a book I just finished: Profit First by Mike Michalowicz. It sparked a great discussion about handling some very important aspects of having your own business. Let’s jump in!   "Sales don’t mean anything unless you put them into context." -Tom Geiss   In This Episode, We Talked About: Why I think Profit First just might be the best business resource I’ve ever read How Tom overcame his initial concerns about the book and implemented its principles for his online course business Tom’s budget goals and how reorganizing his accounting process has improved his sales focus The Profit First mindset shift that happened for me that changed how I approach my business The daily process I am using to evaluate certain aspects of my business finances How the lessons I learned in the book reduced some of my expenses almost immediately - helping me save hundreds of dollars a month The potential tax advantage for business owners who apply the principles of the book How much money every business should aim to set aside in emergency funds The different ways that Tom and I are using the Profit First philosophy to benefit our families and plan for the future That’s just a small sampling of our discussion about Profit First principles, so don’t forget to take a listen and leave a comment! Links Profit First by Mike Michalowicz Tom Geiss’s Engineering Course Site Nate Dodson’s Website