In this week's episode, we have Sahra Linnemann from The Green Executive discusses the concept of profit first and how it can help contractors in the green industry manage their cash flow and increase profitability.
The profit first approach involves taking profit out of income first and then operating with what's remaining.
Sahra explains the mechanics of profit first, including setting up different accounts for profit, owner's pay, taxes, and operations.
Takeaways
- The profit first approach involves taking profit out of income first and then operating with what's remaining.
- Proper bookkeeping and tracking expenses are crucial for making informed business decisions.
- Regularly review profit and loss reports to assess the financial health of the business and make necessary adjustments.
The Hardscaper High Five was first introduced as part of Hardscaper Showcase earlier in 2023. If you couldn't make it out to one of those events, head over to [https://hardscaper.com/2023-virtual-showcase/] to check it out for free!
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