5 Ways Boost Your Profitability
We love Mike Michalowicz and share in his passion for making businesses profitable. Here is a breakdown of what he shares in this useful clip:
- Realize that logic does not work.
- Make profit FIRST. What comes first is a priority.
- Use the envelope system. Allocate your money into separate accounts (envelopes) that are meant for specific expenses. Never spend more.
- Remove temptation.
- Get into a rhythm. For instance, every two weeks look at and pay your bills.
If you would like to know more about Profit First and how we have integrated it into our clients’ businesses, feel free to reach out and ask! Every single client that we’ve had has been absolutely blown away by the ease and effectivity of it, from cafes, to restaurants to design agencies to construction! It truly is an amazing system to ensure the success of your business and at the very least, to boost your profitability!
In addition, if you want to implement Profit First into your business and need a little extra help in breaking it all down and customizing it for yourself, check out our Profit First Lab, our online course dedicated to a little hand-holding along the Profit First path.
Above all, we want you to know your numbers. If you don’t know your numbers, you don’t know your business!
– The Spark Team