Certified by the Profit First Professionals organisation, our team will guide you in the Profit First method of cash management to maximise the profitability of your business.
It's your business. Your profit should come first.
We serve entrepreneurs and small business owners to grow their businesses, profitably. Traditionally, accounting and bookkeeping services are transactional - do the books, prepare the taxes, etc. Numbers in, numbers out, and you pay a fee. But what about profit? What if at the end of the day, by working with your accountant or bookkeeper, you actually fattened your wallet? Our firm does just that.
Yes, we are excellent at bookkeeping and accounting, but you should expect that from anyone you work with. What makes us different is that we drive profitability in your business.
We are certified in the Profit First method detailed in 'Profit First' by Mike Michalowicz, have direct hands-on experience increasing the profits for multiple businesses, and have access to profit specialists across the globe. This means that we have the strategies to make your business more profitable than it has ever been before. And we are ready to do it for you, starting now.
What is Profit First?
The GAAP (Generally Accepted Accounting Principles) formula for determining a business's profit is Sales – Expenses = Profit. It is simple, logical and clear. However the formula, while logically accurate, does not account for human behavior. In the GAAP formula profit is a leftover, a final consideration, a nice surprise at the end of the year. Alas, the profit is rarely there and the business continues on its bill to bill survival.
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 behaviour, 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
Author and historian C. Northcote Parkinson theorised that our demand for a resource increases to meet the relative supply. That is why when one is given two weeks to do a project it takes two weeks, and when one is given eight weeks to do the same project it takes eight weeks. Profit First makes Parkinson's Law an asset. By taking profit first the money available for expenses lessens, and we are forced to find ways to get the same things done for less money.
Our firm is one of the select few, nationwide, that is a certified Profit First Professional. What does this mean for you? We will guide you with these methods to greatly increase the profitability of your business. Of course, we will manage your accounting, do your tax returns and help you with your books - but any accountant can do that. We also provide the most important financial factor - maximising your profits.
Book a time for a Chat or call us on 03 9870 7247 today to learn more about the Profit First strategy we use to grow your business, and your wallet. Or feel free to buy 'Profit First' by Mike Michalowicz now!