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Hello and welcome back to the Treat Your Business podcast! I’m Katie Bell, and I am thrilled to have you join me today. Over the past few weeks, we've delved deeply into the Profit First model, and today, we are wrapping it up with a very special guest who brings a wealth of knowledge and practical tips.

Summary:
In this episode, I sit down with Annette Ferguson, CEO of Annette & Co, a UK-based accountancy firm that operates on the Profit First model. Annette is a certified Profit First professional and a financial strategist, making her the perfect guest to help us understand how to manage our business finances effectively.

Annette breaks down the complexities of the Profit First model into simple, actionable steps. We discuss the importance of having a cash management system, how to identify and fix money leaks in your business, and the transformational impact of consistently building profit into every transaction. If you’ve been feeling overwhelmed by your business finances or unsure about how to ensure you’re actually making a profit, this episode is a must-listen.

Key Takeaways:

1. Understanding Profit First: Annette explains how the Profit First model differs from traditional accounting and why it's crucial for ensuring long-term financial health.
2. Cash Management vs. Transaction Management: Learn the difference between these two systems and why both are essential for your business.
3. Identifying Money Leaks: Annette provides a practical exercise to help you find and fix financial leaks in your business.
4. Making Profit a Habit: Discover how to consistently set aside profit from each transaction and why this habit is vital for business sustainability.
5. Operational Efficiency: Understand how to streamline your business operations to enhance profitability.
6. Personal Experience: Annette shares her own journey with Profit First, including the challenges and successes she faced.
7. Three Top Tips: Annette's three actionable tips for implementing Profit Firs

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