The Cash Envelope System

The Cash Envelope System

The Cash Envelope System In the last post, we reviewed the Profit First system. The basic idea: take your profits first, before expenses. The next step is to make sure you don’t spend your profits. To do this, the Profit First book recommends setting up a number...
The Profit First Equation

The Profit First Equation

The Profit First Equation The traditional financial equation is: Sales – Expenses = Profit Profit First by Mike Michalowicz, re-works this equation to: Sales – Profit = Expenses. It’s a simple but powerful change. The idea is to begin with the end in...