Profit First

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Accounting Quirk: Profits but No Cash

It starts with the accounting method Setting up a business can be tricky. Despite good intentions, it is easier to fail than it is to succeed. For those who manage to do well, a positive profit and loss statement is nothing less than victory. But there are times when this victory does not seem to …

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How Do I Pay Myself?

As a business owner, it is already a challenge to start and build a company. Even if it is just a little store in the middle of nowhere, you still want it to be as successful as possible. It is defined by the way you manage it though, and that process will continue even if …

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5 Ways You Can Maximize Your Small Business Profits

During the early phases of a business, owners usually wonder whether they are making profit. And why shouldn’t they when every business’s goal is to be successful, become profitable, and for the business to achieve longevity.   But before we get on to discussing how small business owners can use their profit well, we have …

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Why Most Accountants Are Not Equipped To Give Profit Or Business Growth Advice

There are book accountants and there are Chartered Accountants who are Profit First Certified. The latter is me, Annette Ferguson – Chartered Accountant and Profit First Certified Professional.   There is a big misconception surrounding an accountant’s work. Yes, traditional accountants are meant to help you stay on top of your balances. They help you …

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What Is Debt Snowball?

Lately, it seems that the majority of people and businesses have accumulated a certain level of debt. This experience is rather usual, especially for those in the middle class. You have all of these needs that you want to achieve, and yet you do not have the money for it. This is why we settle …

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How To Improve Profit In A Family Business?

You can be running a family business for generations and still not feel satisfied with how much your business is earning. Yes, it pays the bills, and it puts food on the table. However, one would expect more from running a family-owned enterprise – especially if it has been handed down from generation to generation. …

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If Your Take-Home Has Changed – Your Personal Spending Needs To As Well

The last pandemic that resulted in a worldwide lockdown was ages ago. It ended by wiping out half of the population, leaving countries in tatters. With all the technological advancements, you would think that pandemics were now just a story of the olden days. A story that exists to serve as a lesson for human …

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How Much Should I Spend On Team?

Whether you have a growing enterprise or a barely starting small company, every business operation boils down to one thing: money. Budget planning and allocation are vital tasks in every business activity. No project, production, or strategy is complete without a reasonable budget backing it up. No matter the nature of your business, monetary resources …

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How Much Should A Director Pay Themselves?

For many people, the term “board of directors” sounds so ominous. Some might picture a group of faceless people ready to rule the world. Others might see a team of individuals who always wore white and talked in riddles and complicated jargon.    It can also conjure a portrait of a group of super-rich executives …

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Organising Your Mind and Your Business for the Success You Want to Achieve

One of the essential things to keep your business running smoothly is being organised. In order to achieve the success that you want for your business, it is necessary to start with organising your mind. Thoughts become feelings, become actions, become results, so you want to be mindful of the ideas that come out of …

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