219: 6 Months into Using the Profit First Accounting Method - An Honest Review + Tips!

If you’ve been in the online space for a while, you may have heard of “doing Profit First”, which is based on the popular book Profit First by Mike Michalowicz. It’s a way of taking your profit first (literally) instead of looking at your profit as “what’s left over” after all of your expenses have been paid.     When I started using this accounting method in December, I knew I had to share it with my podcast community. In this episode (part one of two), I'm going to share what Profit First is and how I set it up for my business. But listen - if you're new to Profit First, that's okay! I'll explain it all to you. And if you're not a fan of accounting, I get it. But I promise that in this episode I am going to make it practical and share what's working for me financially right now.    I’m sharing all about setting up Profit First accounts, my different percentages, how I close out my finances each month, and more. There's a lot to cover… so get comfortable! And hey, if you love this topic, be sure to tune in next week for part two, where I'll go even more in-depth and walk you through exactly how I manage my finances at the end of each month.   Links mentioned in this episode:   - Get the full show notes:  https://elizabethmccravy.com/219 - Join our FREE Breakthrough Brand Facebook Group: https://elizabethmccravy.com/facebook  - Connect with Elizabeth on her Instagram: https://www.instagram.com/elizabethmccravy  - Buy The Profit First Book: https://rstyle.me/+33cGG1wZcw27QExfi5HnEw  - Looking for a better way to know your numbers? Check out my profit sheet: https://elizabethmccravy.com/profit-sheet  Book Your Next Client ASAP: https://elizabethmccravy.com/ASAP   Check Out The Official Profit First Bank: https://elizabethmccravy.com/relay   Take the Website Personality Quiz at https://elizabethmccravy.com/quiz to get your FREE Canva templates, 10% off of your website template, a free month of Showit, and a full brand profile for your business!