Thinking of adopting #profitfirst method? Before diving in, remember these key tips Painting Owners.

really understanding what your numbers are before you start this Profit First program. What are your true costs going to be for your operating expenses? What is a really dialed-in tax percentage? It really depends on your situation. Do you have an S corp? Are you paying yourself a salary? You can dial in that tax percentage if you have a good understanding of tax or you're working with a tax planner. How much profit you should be making is based off of what entity you are. If you're a sole proprietor, your profits should be higher because you're not running a salary. And it also depends on what services are you doing in your business. We had a whole podcast on what you should be paying yourself based off of the services you provide to your company. Like, are you the salesperson? Are you the production manager? Are you both? Region admin, all that stuff, or get a better understanding yourself to really dial in those percentages when you start this Profit First program.