Mar 22, 2020
Are you making a profit in your business?
David Richter joins Wendy, Bill and Jonathan to discuss how to implement profits first.
When you put your books into order, you see what you are actually spending a month and what's profitable and what wasn't.
You have to look at short term and long term profit centers. What do you spend more time on? Long or short term projects.
AirBNB or long term rentals, which is more profitable? You may be shocked at the answer for you.
Learn more about David at:
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows.
About David Richter:
David Richter, founder and owner of Simple CFO Solutions, is on a mission to help stressed entrepreneurs who are frustrated with not knowing their numbers and not making profit by cleaning up their books, interpreting their numbers for them, and implementing a system to increase and prioritize their profits to be able to be less stressed, confident in their numbers, and make the profit they need to accomplish their vision.
He has been in the real estate investing world specifically for the last six years. He has served on the leadership team of real estate investing companies doing over 300 deals a year between wholesaling, fix and flipping, lease optioning, and turnkeying properties.
David has no debt in his business or in his personal life and practices all the principles and actions he teaches. In order to continue to constantly grow and help others, he reads over 50 books a year, is a ToastMasters member, Profit First Professional, and a lifelong student of Kung Fu. He is on a mission to help you and change your life and business for the better.