Stop Profit and Cash Leaking Out of Your Business.
Profit First is the simple, proven and effective system which can transform your business from a cash eating monster to a profit machine.
Used Successfully by Thousands of Business Owners Worldwide
Leverage Natural Human Behaviour
Great for Startups Not Just Big Business
Proven System
Profit First has been implemented in thousands of businesses worldwide with enormous success. These businesses have had outstanding results.
Simple Cash Management
No complex financial reports, just use simple bank balance accounting.
Immediate results
Profit First starts working almost instantly. From your very next receipt, you will start banking your profit. What are you waiting for?
Cashflow is King
Cashflow is nearly always he the biggest challenge we see business owners face day to day. The constant week to week battle of money in money out.
This constant struggle set us on a mission to find an easy, manageable and effective system to manage cashflow.
This journey has lead us to Profit First. We practice what we preach and we have implemented Profit First in our own business, and we know it works.
Thinking Cloud is one of the select few firms, Australia wide (one of the first in Australia) trained and certified in the Profit First Method to guide business owners and entrepreneurs in maximising their profits.
What is Profit First?
ITS EASY
AND EFFECTIVE.
The 'pay-yourself-first' system matched up with the 'envelope system' and applied to business.
Profit First is a simple and powerful cash management system that ensures the business owner always take their profit first. No matter how small the income may be, they still get paid. Yes, you heard right, the owner of the business always take their profit first.
The Profit First system takes the traditional accounting formula
Income less Expenses = Profit...
and turns it around
Income less Profit = Expenses
PROFIT IS NOT AN EVENT.
IT IS A HABIT.
The 'old' Income less Expenses = Profit formula is not only contrary to human behaviour, but a myth that locks you into a never ending cycle of selling more yet profiting less, treating profit like an afterthought, secondary to growth. Profit First leverages human behaviour.
DONT CHANGE YOUR HABITS.
Don't master accounting You just need a system that works with who you already are.
At the heart of Profit First are these 4 Core Principles
Use Small "Plates" - All income is deposited into an "Income" account, ready to be dispersed into different accounts and pre-determined percentages. (Don't worry, we can help work these out). Does Grandma's envelope system ring a bell?..
Serve Sequentially - Always, always allocate money based on the percentages to the accounts first. Never, ever, ever pay bills first. Only pay bills with what is available in the "Opex" account.
Remove Temptation - Move your "Profit" account and other "tempting" accounts out of arm's reach. Remove the temptation to "borrow" (ie. steal) from yourself.
Enforce a Rhythm - Do your allocations and payables fortnightly (or weekly for some). Get into a rhythm of allocating your income, and paying bills each fortnight so that you can see how cash accumulates and where the money really goes. This is controlled recurring cashflow management, not fly-by-the-seat-of-your-pants management.
Profit First Services
Profit Blueprint Session
You have read the book and implemented Profit First yourself but you have hit a few hurdles along the way. You are unsure what you need to do next. The Profit Blueprint Session is a great way to get 'unstuck' and get clear on what the next steps you need to take to be permanently profitable.
1. Discovery Call
A 20 minute discovery call where we find out where you are at and where you need help.
2. Video Call
A 90 minute video call, where we review the information you have sent us and detail the steps you need to take to get unstuck.
3. Action Steps
We will give a step by step plan for next 3 actionable steps you need to take, as well as the tools you need to succeed.
Profit First Implementation
This is a the best way to successfully implement Profit First. We help you through each step of setting up Profit First and working in your business.
You have read the book and implemented Profit First yourself but you have hit a few hurdles along the way. You are unsure what you need to do next. The Profit Blueprint Session is a great way to get 'unstuck' and get clear on what the next steps you need to take to be permanently profitable.
1. Kick-off Call
A 45 minute discovery call where we learn more about your business, your goals, your challenges and "pain points"
2. Profit Assessment
We give you a comprehensive report which includes
- Detailed review of your business profitability and financial performance
- A 12 month plan with your target allocations for each quarter
- Bank account setup guide
- Profit First toolkit
3. Getting Started Call
An in depth call where we teach you everything you need to successfully implement Profit First in your business. Including
- Review of the Profit Assessment Report
- Learning the Profit First system
- Allocations
- Profit distributions
- Next steps
4. Review Call
A follow up call where we review your Profit First implementation and answer any questions you have. As well as
- Cost cutting exercise
- Debt Busting strategy
- Creating a "vault" to protect your business
- Profit First strategies to help reach your goals
- Ask anything
Plus...
Getting Started Is Easy...
1. Schedule a Call
In this free 20-minute discovery call we'll talk about your business and pinpoint where you need help.
2. Get Clear
We'll give a proposal for the services that will improve your cashflow, pay yourself a profit, kill debt and give you financial confidence
3. Focus
We'll help you implement a simple system to help you manage your cashflow and grow your business. You can focus on your business and do what you do best.