{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"SBP024 How to make more Profit with Profit First","description":" Profit first is a way to make more profit for your business and also have predictable cashflows.    In this Episode, Lee Wilson from Profit First Coaching unpacks the methodology  into its core components    There are 5 big ideas used in the methodology:    Sales - profit = expenses  Bank Profit as the first transaction each month  Multiple bank accounts to manage your cash flow   Right size your business - Teach the business to work with less including innovation  Declare profits (according to well-defined profit benchmarks) each quarter and celebrate     The benefits for any owner-managed business would be:    Right size your business taking out duplicate or unnecessary costs  Your Profit will therefore increase immediately  There will be adequate and predictable cash flow leading to reduced stress  You will become proactive with a forward-looking view of your business  Scaling and selling your business becomes much easier    Where can we find out more information?  Come to my website www.profitfirst.co.za  Get an overview, videos and a free summary of the book.  Book an assessment   Lee Wilson   Lee@profitfirst.co.za  +27 83 627 4494  ","author_name":"Smart Business Performance Podcast","author_url":"https:\/\/www.kpims.co.za","html":"