A business owner describes running two locations with $10,000 monthly expenses and $2,500 personal income, barely breaking even. After implementing Profit First, revenues and profits grew 300% year over year, letting them take a larger salary and stabilize the business.
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.
