87 - But First, Profit

Justin and Jem discuss dealing with cash flow issues in their businesses, new financial strategies they are trying based on the book Profit First, banking and software tools they are using like the Spark email app. They also talk about upcoming sales events and how to setup for steel milling! Watch on YoutubeDISCUSSED:✍️ Send Comments on this EpisodePlease note: Show notes contains affiliate links.Book club: Profit FirstAccounts > Automated?PercentagesModelling52-week cashflowMercury - PF Bank Justin went withFerneryShopping Slitting SawsPlanning to cut steelSC: Spark emailPDX CNC SaleNamesTimingProfit First PercentagesReal Revenue under $250,000:Profit: 5%Owner's Compensation: 50%Taxes: 15%Operating Expenses: 30%Real Revenue $250,000 to $500,000:Profit: 10%Owner's Compensation: 35%Taxes: 15%Operating Expenses: 40%Real Revenue $500,000 to $1 million:Profit: 15%Owner's Compensation: 20%Taxes: 15%Operating Expenses: 50%Real Revenue $1 million to $5 million:Profit: 10%Owner's Compensation: 10%Taxes: 15%Operating Expenses: 65%Real Revenue $5 million to $10 million:Profit: 15%Owner's Compensation: 5%Taxes: 15%Operating Expenses: 65%SUPPORT THE SHOWBecome a Patreon - Get the Secret ShowReview on Apple Podcast Share with a FriendDiscuss on Show SubredditShow InfoShow WebsiteContact Jem & JustinInstagram | Tiktok | Facebook | YoutubeHOSTSJem FreemanCastlemaine, Victoria, AustraliaLike Butter | Instagram | More LinksJustin BrouillettePortland, Oregon, USAPDX CNC | Instagram | More Links