How to Put Profits at Your Startup First
When I started my company, I couldn’t understand where all my income went.
In 2015, I began earning a small but noticeable income from selling books, and courses for affiliates that I’d started working with.
At first, I felt pleased about the extra income. It supplemented my day-job and I paid down some debt. As my income from my side-business increased, I discovered I was spending more money on courses, software, coaching, ads, email marketing software, web hosting and lots more.
Money was going out of my business almost as fast as I could earn it. I knew I was doing something wrong, but what?
Then, I discovered how to put profits first from Mike Michalowicz, the author of Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine, as well as several other books.
What Profit First Looks Like
How much profit do you take from your business or side-hustle?
Perhaps you’re surviving from paycheck to paycheck and are more concerned with paying suppliers than taking profits.
Many solopreneurs and entrepreneurs also put paying themselves last, believing they should invest as much as possible into their…
