fbpx

Profit First Service with Venus Michael

Profit First is a cash management system. Going back to Parkinson’s law the observation is that work expands to fill the time available for its completion.

The same goes with your finances!

When you have your own business it is alarmingly common for expenses to expand and take all your revenue, leaving just the bare minimum of what you actually need to support yourself.

If you use all resources on the business… what about profit?

Any bookkeeper can manage your accounting, but Venus brings the most important financial factor to the table – maximizing your profits!

The Profit First Formula

The GAAP (Generally Accepted Accounting Principles) formula for determining a business's profit is Sales - Expenses = Profit. It is simple, logical and clear. Unfortunately, it's a lie. The formula, while logically accurate, does not account for human behavior.

The GAAP (Generally Accepted Accounting Principles) formula for determining a business's profit is Sales - Expenses = Profit.  It is simple, logical and clear.  Unfortunately, it's a lie. The formula, while logically accurate, does not account for human behavior.

In the GAAP formula profit is a left over, a final consideration, something that is hopefully a nice surprise at the end of the year.  Alas, the profit is rarely there and the business continues on its check to check survival.

Sales - Expenses = Profit

Sales - Profit = Expenses 

With Profit First you to flip the formula to Sales - Profit = Expenses.  Logically the math is the same, but from the standpoint of the entrepreneur's behavior, it is radically different. With Profit First, you take a predetermined percentage of profit from every sale first, and only the remainder is available for expenses

Venus Michael is one in only a select few bookkeepers that is certified to work with the Profit First Cash Management System.

Best Profit First Profesional Services

In addition to full-service bookkeeping, Venus Michael's profit first professional is one of a select few bookkeepers that is certified to provide Profit First Cash Management services.

Venus Michael Profit First Assessment

Profit
Assessment

A one-time assessment completed on your business to determine profitability and to generate a strategy for reaching the company’s profitability targets based on revenue.
Venus Michael Profit First Evaluation

Profit First Evaluation, Conversion, & Roll Out Plan (ECROP)

The Profit First ECROP (Evaluation, Conversion, and Roll Out Plan) is designed to help you lead your client through a year-long Profit First engagement. This document will walk you through the entire ECROP process, step by step.

Questions?

Or email us at venus@venusmichael.com

Complimentary Consultation

Schedule a free Profit First/Bookkeeping Consultation session with our profit first professional.
Copyright © 2020 Venus Michael.
Website Design by MegaMad Websites