Account Percentages

To be clear, God is First (it's the first commandment), but this is simply flipping the GAAP accounting hierarchy and instead of Profit being what's left over, we put Profit First, and allow Operating Expenses to have to exist on what's left over.

• Instructions

<aside> 💡 We need to learn to draw our value from profit rather than prestige (big machines, big buildings, big employee counts, big offices, big trucks, big projects, etc.). Our emotions can lead us down unhealthy paths, physically, mentally, spiritually and financially.

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Profit First Account Percentages

Assessment

• Instructions

Untitled

Profit First Assessment

What's Next?

• Ideas

Profit First Accounts (my objective is to make these Virtual Envelopes rather than actual Bank Accounts):

Bank 1

• Income
• Profit (Retained Earnings)
• Owners Pay
• Owners Tax
• Operating Expenses

Bank 2 (no temptation)

• Profit Hold
• Tax Hold

"When in Doubt, add an Account" -Mike Michalowicz

Here is What’s Next: