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Stephen, Wade, and Rob are back with a second episode on Profit First myths. This week they dive deeper into common misconceptions about the Profit First method, TAPs and working with a Profit First Professional.

The myths we discuss this week:

•  I don't need to work with a certified Profit First expert to implement the system.
• Anybody can teach Profit First.
• My business won't grow if I take my profit first.
• Profit should be used for capital expenditures.
• Profit First says to put aside 15% for taxes. That's not enough.
• If I can't hit the Target Allocation Percentages (TAPs), the system won't work.

If you missed part one, go back to hear the first six myths. And don't forget to send questions or content suggestions to us at the links below.

LINKS

Visit the episode page at contractorsuccessforum.com/myths2 for more details and a transcript of the show.

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Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com

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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com