PROFIT FIRST
Small business profitability
is more than a possibility.
Stop bank balance accounting and become financially fit!
We want to empower you to have the life you dreamed of when you started your business.
You are working so hard but your business seems to be running from deposit to deposit and you’re constantly watching the bank account hoping there will be enough money coming in to meet payroll or pay the bills. Then you have your income taxes done and your CPA tells you that you’ve made a profit and you owe the tax man!! Wait...what?
Being profitable is a good thing, having to pay taxes is not a bad thing, but not having the money to pay your taxes, or the CPA, is a problem. What about paying yourself? You are the best employee your business has!
Did your Grandma use a cash flow system otherwise known as the envelope system? When the money came in it would be divided amongst the envelopes...rent, utilities, food, incidentals. Those were the days before debit cards and etransfer. With Profit First we use an updated digital version of this system, utilizing bank accounts instead of envelopes. We allocate monies to different accounts... profit, taxes, owner’s compensation, operating expenses etc.
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With the implementation of Profit First systems, we’ll guide you to ensure that you are getting paid and that you have the money set aside for those taxes. You won't be going from one crisis to the next any longer!
We’ll even put a plan in place to set aside funds for Profit and an emergency fund in case of unexpected hardship like the recent Covi-19 pandemic.
Your business is unique but Profit First is a methodology that can work for everyone if your allocations are correct, they are implemented properly and you are committed to the system.
No cheating!
No “borrowing from Peter to pay Paul”!
No stress at year-end!
Shift the profit paradigm
OLD SCHOOL: Sales (Revenue) minus expenses equals how much profit you have. This is how most businesses set up their systems.
SALES - EXPENSES = PROFITS
PROFIT FIRST METHOD: Sales (revenue) minus how much profit you need to thrive. = The amount of money you have left to cover expenses.
Profit First shifts how you realize more profit in your business. It's not magic, it's a different way to think about your business. We have worked with 100's of companies to shift the profit paradigm to ensure you can pay your taxes, meet your expenses and always pay yourself first.
Let us help you get started.
Pyradise Profit Advisers
(The Bookkeeper)
Serving Clients Throughout Canada
957242 7th Line E
Mulmur, ON L9V 0M7
(905) 460-6846
nola@pyradisegroup.com