Profit First: A New Way to Think About Small Business Finances

Event description

Topic: Business Accounting and Budget

The Profit First methodology flips the traditional accounting formula by prioritizing profit, using Sales – Profit = Expenses instead of the usual Sales – Expenses = Profit. Business owners allocate income into separate accounts—Profit, Owner’s Pay, Taxes, and Operating Expenses—ensuring profit is taken first and spending is controlled. This cash management system leverages behavioral psychology to help small businesses become more disciplined, financially healthy, and consistently profitable.