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Navigating Cash Flow Challenges: A Step-by-Step Approach to Profit First
Ready to take control of your business finances and finally put profit first? In this episode, I’m breaking down the core principles of the Profit First methodology and showing you how these simple shifts can help you stay on top of your cash flow, reduce stress, and build a business that truly works for you.
I’m Deb Halliday, Profit First Professional, and I’ll walk you through how the Profit First system helps business owners move from financial firefighting to feeling confident and in control. We’ll talk about why traditional accounting often leaves profit as an afterthought—and how flipping the formula helps you prioritise your own financial goals.
You’ll learn how to set up multiple bank accounts for profit, owner’s pay, tax, and operating expenses, and why this structure is so effective for UK business owners. I’ll share practical tips for setting up your accounts, finding the right banks (including options like Starling, Monzo, and Tide), and creating a simple, sustainable routine for allocating your income—ideally twice a month, in line with your business’s natural financial rhythm.
By the end of this episode, you’ll have a clear action plan: open a dedicated profit account and start allocating a small percentage of your income to it. It’s a small step that can make a massive difference to your peace of mind and your bottom line.
Takeaways:
- Discover how Profit First can transform your approach to business finances.
- Learn the power of allocating funds to specific accounts for profit, tax, owner’s pay, and expenses.
- Get step-by-step advice for setting up your accounts and building a routine that works for you.
- Understand why rhythmic, twice-monthly allocations make cash flow management easier.
- Take action today—open a profit account and start building a more resilient business.
Links mentioned:
financiallyhealthybusiness.co.uk
debhalladay.co.uk
Companies and resources featured:
Accounts Ladies, Accounts Office, Profit First, HMRC, VAT, Starling, Monzo, Tide, Santander, NatWest, Lloyds, Barclays
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By Deb HallidayReady to take control of your business finances and finally put profit first? In this episode, I’m breaking down the core principles of the Profit First methodology and showing you how these simple shifts can help you stay on top of your cash flow, reduce stress, and build a business that truly works for you.
I’m Deb Halliday, Profit First Professional, and I’ll walk you through how the Profit First system helps business owners move from financial firefighting to feeling confident and in control. We’ll talk about why traditional accounting often leaves profit as an afterthought—and how flipping the formula helps you prioritise your own financial goals.
You’ll learn how to set up multiple bank accounts for profit, owner’s pay, tax, and operating expenses, and why this structure is so effective for UK business owners. I’ll share practical tips for setting up your accounts, finding the right banks (including options like Starling, Monzo, and Tide), and creating a simple, sustainable routine for allocating your income—ideally twice a month, in line with your business’s natural financial rhythm.
By the end of this episode, you’ll have a clear action plan: open a dedicated profit account and start allocating a small percentage of your income to it. It’s a small step that can make a massive difference to your peace of mind and your bottom line.
Takeaways:
- Discover how Profit First can transform your approach to business finances.
- Learn the power of allocating funds to specific accounts for profit, tax, owner’s pay, and expenses.
- Get step-by-step advice for setting up your accounts and building a routine that works for you.
- Understand why rhythmic, twice-monthly allocations make cash flow management easier.
- Take action today—open a profit account and start building a more resilient business.
Links mentioned:
financiallyhealthybusiness.co.uk
debhalladay.co.uk
Companies and resources featured:
Accounts Ladies, Accounts Office, Profit First, HMRC, VAT, Starling, Monzo, Tide, Santander, NatWest, Lloyds, Barclays