The Profit First Method
Revenue Allocation: - Operating Expenses: 30% - Owner Pay: 50% - Taxes: 15% - Profit: 5%
Separate Accounts: - Revenue (all money in) - Operating expenses - Tax savings - Owner compensation - Profit holding
Investment Priorities
Reinvestment Order: 1. Tools that save time 2. Team members 3. Education/coaching 4. Marketing/ads 5. Legal/accounting