Why Five Bank Accounts Are Better Than Just One

by Jennifer Allen, CPA | Profit First

Most business owners I know typically have one bank account. And if they have more than one, it’s usually a savings account. One of the core elements of implementing Profit First is using multiple bank accounts — at least five — which can be a hard concept for...

Here’s Why Every Business Owner Needs (Deserves!) a Coach

by Jennifer Allen, CPA | Blog, Profit First

Athletes. Singers. Authors. Actors. Speakers. When you think of the type of person who might work with a coach, are these the professions that come quickly to mind? Let’s add one more to the list of people who might use a coach: Business owners. If you run a...

What is a Profit First Professional or Profit First Coach?

by Jennifer Allen, CPA | Profit First

“What is a Profit First Professional?” I hear this question a lot. People see my designation on our website or notice it on my LinkedIn profile. I never get tired of answering the question because it allows me to share something I’m passionate about...

Why Cash Flow is the Lifeblood of Business

by Jennifer Allen, CPA | Profit First

Business cash flow — the money coming into and going out of our businesses — makes me think of the blood that courses through our veins. And I just found out I’m not the only person who imagined this analogy. Today I learned that Richard Branson, the...

How to Run a More Profitable Business (Hint: Put Profit FIRST)

by Jennifer Allen, CPA | Profit First

In my line of work, it doesn’t take too long for me to discover the financial health of the companies I work with. I can tell who is running a profitable business, who is possibly six months away from shutting their doors and who’s taken on too much debt....