Are you tired of working hard in your business, only to find there’s never enough left over for you at the end of the month? In this episode, I’m introducing you to the transformative Profit First methodology—created by Mike Michalowicz—which flips the traditional way of managing business finances on its head.

I’m Deb Halliday, certified Profit First Professional, founder of the Accounts Ladies, and author of ‘How to Build a Financially Healthy Business’. I know firsthand how easy it is for business owners to fall into the “survival trap”—chasing sales, covering bills, and still feeling like you’re running on empty. Traditional accounting says profit comes last, but that’s exactly why so many of us end up with nothing left.

Profit First is all about putting profit first—literally. Instead of sales minus expenses equals profit, we switch it to sales minus profit equals expenses. This simple mindset shift can change everything, especially when you’re facing the challenges of VAT, corporation tax, and rising costs here in the UK.

In this episode, I’ll share real stories and practical insights to help you break free from the cycle of just getting by. We’ll explore why prioritising profit is the key to building a business that not only survives, but truly thrives. Plus, I’ll walk you through the first steps to making Profit First work for you—so you can finally start keeping more of what you earn.

Takeaways:

• Learn why the traditional approach to business finances keeps so many owners stuck—and how Profit First offers a way out.
• Understand the power of prioritising profit before expenses.
• Get practical, actionable steps you can take today to start building a more profitable business.
• Discover how Profit First can help you tackle the unique financial challenges of running a business in the UK.

Links mentioned:

financiallyhealthybusiness.co.uk

debhalladay.co.uk

Companies and resources featured:

Accounts Ladies, Accounts Office, Mike Michalowicz, HMRC, VAT