Dave WordenTriumph Business Solutions · Founder

#EEP Podcast #291 Highlights with Colleen Hilton

10 Feb 2020 · 0 min

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0:08

In this podcast excerpt, the host asks Colleen Hilton to describe her business situation just before she discovered the Profit First methodology. Hilton explains that her company operated two locations, incurred roughly $10,000 per month in hard expenses, and paid payroll for about six employees. At that time, her personal take‑home was only about $2,500 per month, and only if the business turned a profit. After adopting the Profit First system, she reports a dramatic 300% year‑over‑year increase in both revenue and profit, implying a substantially higher personal income now. The exchange highlights the stark contrast between the pre‑implementation financial strain and the post‑implementation growth attributed to Profit First.

Can you give me the day before, the day after you discovered Profit first, like leading up to this point where you started reading the book what was the business like?
I read profit first. We had two locations. We were probably carrying about $10,000 a month in hard expenses, but also payroll for probably about six employees at that point. So quite a bit again, I was taking home $2,500 a month if we made any money that month. Since implementing your system year over year, we have seen a 300% increase in revenues and profits.
Okay. So that's amazing. And I'm just going to presume you're taking more than 2,500 home now because. Okay.
Yes, no, now I get a salary and I get owner's distributions based on profits. And I'm stable in my own personal life, which lets me be more stable as the the CEO of my own company. And the ripple effect is just exponential.