If you feel like your business is really starting to hit its stride financially but you still seem to not have any money in your bank account, this article is for you.
No matter how successful your business is, if you don’t have a way to proactively assign jobs to your money as it comes in, you will have a really hard time accumulating cash in your accounts. Instead of worrying about how successful your next launch will be, or if your next client will be paying in full or with that dreaded payment plan, imagine what it would be like to go into strategy calls with zero expectation. Imagine knowing that you have enough cash to cover your business expenses for the next 3-6 months. Imagine paying yourself a profit distribution every quarter and taking yourself to the spa (without putting it on your nearly maxed credit card). Imagine being debt free.
I’m here to tell you that this is all possible. And I am also going to warn you that my clients often share with me that they wish they had implemented Profit First paired with YNAB sooner.
Here are some warning signs that you are headed towards maxed out credit and dwindling business account balances, all while making consistent 4-5 figure months.