Transfer profit to a separate account regularly from "summary" of Profit First by Mike Michalowicz
The concept of transferring profit to a separate account regularly is a critical component of the Profit First system. This practice ensures that you are consistently setting aside a portion of your revenue for profit, rather than waiting until the end of the year to see if there is anything left over. By transferring profit to a separate account on a regular basis, you are making a conscious decision to prioritize your profitability. This act of setting aside money for profit first sends a clear message to yourself and your business that profit is a non-negotiable expense. When you tr...
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