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The Downside of “Profit First” for Small Business

It’s no secret that I LOVE the Profit First method. But there is a downside to “Profit First” that not enough of us are talking about. FREE CLASS: How to Use a Holistic Approach to Create a Profitable Biz Without Burning Yourself Out https://xotara.us/training?video=VB84... PROFIT FIRST BOOK: https://amzn.to/3x1YPV5 Profit First by Mike Michalowicz did for me just what it promised - it transformed my business from a cash-eating monster to a money maker. It helped me make sense of small business finances and small business budgeting. And it helped me increase profit. In the short term. But it won’t teach you how to start a business, how to grow a business, or how to scale a business. In fact, it could hurt those things. Because it’s just going to teach you business budgeting with an eye on your profits. Here’s what you need to know: 0:00 - Intro 0:25 - Profit First Accounting Overview 1:35 - The Upside of Profit First 4:17 - The Downside of Profit First 5:10 - The Solution // MORE INSPIRATION 4 REASONS TO SWITCH TO CLICKUP:    • 4 Reasons You Should Switch to ClickUp (Re...   Learn more: https://clickup.com/?fp_ref=xky5h 7 BEST BOOKS ON HABITS:    • The Top 7 Books on Habits + The Best Order...   7 MONEY MINDSET BOOKS:    • 7 Money Mindset Books That Will Change You...   7 MONEY LESSONS I WISH I LEARNED SOONER:    • 7 Money Lessons I Wish I Learned Sooner   7 HABITS THAT MAKE MORE MONEY:    • HOW TO MAKE MORE MONEY: 7 Highly Effective...   CHARGE WHAT YOU’RE WORTH IS BAD ADVICE:    • “CHARGE WHAT YOU’RE WORTH” IS TERRIBLE ADV...   REVENUE VS PROFIT: WEIRD TRICK:    • MONEY MINDSET 101: Revenue vs Profit (+ Gr...   ARE YOUR FINANCIAL GOALS TOO BIG?    • ARE YOUR FINANCIAL GOALS TOO BIG? (Set Mon...   HOW TO START A BIZ IN 10 HRS/WEEK:    • How to Start a Business In Only 10 Hours a...   SMALL BIZ FINANCES MADE EASY:    • How to Manage Your Small Business Finances...   BEFORE YOU START A BUSINESS, ANSWER THESE:    • BEFORE You Start a Business, Answer These ...   // LINKS ➤ FREE CLASS FOR ENTREPRENEURS: https://xotara.us/training  ➤ FREE 5 DAY “GET OUT OF YOUR OWN WAY” CHALLENGE: https://xotara.us/challenge ➤ BREAKTHROUGH BOSS INNER CIRCLE: https://xotara.us/bbinnercircle ➤ FREE FB GROUP:   / xotarawagner   ➤ PINTEREST:   / tarawagner   ➤ SHARE THE BLOG: https://xotara.us/profit-first ➤ SHARE THE CHANNEL: https://xotara.us/yt // MY VIDEO SETUP + EQUIPMENT https://xotara.us/video-setup // EMOTIONAL AROMATHERAPY Want to learn more about how to use aromatherapy to impact your limbic system (mindset, emotions, and thoughts)? Or to increase the impact of your affirmations, journaling, or personal development work? Check out these links below: ➤ HOW IT WORKS: https://xotara.us/emotional-aromatherapy ➤ FREE GUIDES + TOP 10: https://xotara.us/ssa ➤ A-Z OILS + USES: https://xotara.us/oils ➤ MORE VIDEOS:    • Essential Oils and Emotions   // ABOUT ME I’m Tara Wagner, Breakthrough coach and lifelong entrepreneur. I help female entrepreneurs get their heads, their hearts, and their habits straightened out, so you can take back your time, make more money, and finally crush your goals, not your soul. Looking for mindset and business coaching? LEARN MORE: https://xotara.us/bbinnercircle // DISCLAIMER Everything I share here or through my website are for entertainment and inspirational purposes only. All advice should be undertaken at your own discretion, because you’re a smart cookie who can make your own decisions. Affiliate links may be included and are noted as such. By watching or subscribing you agree to use the common sense discretion outlined in painful detail here: xotara.us/disclaimer

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