Newsletters

Profit First F.A.Q.’s #2

May 19, 2024

B.Y.O.B. | Brewing Your Own Business | 13th Edition | Profit First F.A.Q.'s #2

Caffeinate Your Cash Flow

MYTH: My business has debt. I can’t be profitable until I pay off all my debt.
Wrong. In fact, the only way to pay off debt (which is simply past expenses that you haven’t paid for yet) is
to be profitable. You must currently make more than you are currently spending, so that you have current
profits. Then you use those profits to pay off your debt (past expenses).




Weekly Sips of Wisdom

“The solution to debt is this simple: If you want to get out of debt you must get more enjoyment from saving your money than spending money.  We are on a mission to change the perspective of successful businesses from “make a lot” to “save a lot.”
Chapter 7 Profit First
-Mike Michalowicz




Dream Believe Achieve
“The way to build your savings is by spending less each month.”
-Suze Orman
#zensationallifestyle
Skip to content