Advertise on podcast: Profit First Nation

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Laura Magu first read Profit First years ago and loved the concept — but as a restaurant owner, she wasn’t sure it could really work for her business. Like many entrepreneurs, she assumed her industry was different, so instead of fully implementing it, she took a few small steps and kept pushing forward. In this episode, Danielle Mulvey sits down with Laura, owner of Rev Bistro in Lafayette, California, to talk about what changed once she finally put the full Profit First system into action and began managing her restaurant with clarity and confidence. Laura shares how separating money into purpose-driven accounts for payroll, sales tax, gift cards, and operating expenses gave her real-time visibility into cash flow, reduced financial stress, and gave her peace of mind knowing all her major expenses were covered. She also explains the difference between working with a traditional accountant who simply hands over reports versus partnering with a Certified Profit First Professional firm, like Kasey Anton and her team at Spark Business Consulting, who help business owners stay proactive and profitable year-round.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Fifteen years into business, Kerrie Genes thought she was doing everything right — until a profitable year still led to a painful tax bill and one big question: Where did the money go? In this episode, Danielle Mulvey sits down with Kerrie, founder of KFIT Body, to talk about how implementing Profit First transformed the way she manages cash, plans for expenses, and pays herself with confidence. Kerrie shares how moving from one business bank account to the Profit First system gave her clarity, reduced her stress, and helped her triple profit and owner’s pay. She also discusses the difference between having an accountant who simply hands you reports versus working with a Certified Profit First Professional Bookkeeping Firm, like Kerrie does with Kasey Anton and her team at Spark Business Consulting, who help you make smarter decisions in real time.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Most businesses don’t fail at Profit First because it doesn’t work — they fail because they fall off the wagon. In this episode, Danielle Mulvey dives into the real reasons entrepreneurs struggle to stick with Profit First and how to avoid the most common pitfalls that derail long-term profitability. Danielle explains why Profit First requires a behavioral and mindset shift, not just new bank accounts. Additionally, she uncovers how emotion, comfort with the status quo, timing excuses, and chasing growth can sabotage success. Danielle also breaks down why incremental progress beats an “all or nothing" approach to gain real-time feedback on your business, and why committing to logic over emotion is the key to permanent profitability.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 You’ve read the book. You’ve heard the keynotes. But if you still haven’t implemented Profit First, your business is already feeling the consequences. In this episode, Danielle Mulvey breaks down the ripple effects of running a business without Profit First, and why waiting until you’re “profitable enough” is the very thing holding you back. Danielle explains how operating from a single bank account creates cash flow stress, inconsistent owner pay, poor growth decisions, tax surprises, and weaker overall business health. She walks through how Profit First brings clarity, discipline, and peace of mind by separating profit, owner’s pay, taxes, and expenses — so your business can grow sustainably and actually reward you for the risk you take.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 New and established businesses alike often believe they’re “not ready” for Profit First, but that belief is exactly what keeps them stuck in unprofitable purgatory. In this episode, Danielle Mulvey breaks down how any business can move toward permanent profitability by starting small, changing behavior, and making intentional, incremental shifts. Danielle explains why Profit First is a habit, how to fix negative profit without drastic cuts, and how focusing on efficiency, margin, and better decision-making can quickly move the needle. If you’re tired of surviving, working IN the business instead of ON it, and wondering why growth feels stalled, this episode will challenge you to rethink what’s possible and take action now.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Payroll is one of the biggest expenses in any business and one of the easiest places for profit to start leaking away. In this episode, Danielle Mulvey breaks down the three “slippery slopes” in hiring and team building that can erode profitability and stall growth. Danielle explains the true cost of a mishire, why employee entitlement can keep a business stuck, and how failing to hire for the next level limits scalability. She also shares how to build a team that drives profitability by clearly defining roles, expectations, and measurable outcomes, so every payroll dollar delivers a return. If you want to protect your margins, scale with confidence, and build a team that grows with your business, this episode is a must-listen.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Photographer and entrepreneur Randi Michelle returns to Profit First Nation to share how applying Profit First principles completely transformed her creative business — and her life. Randi opens up about overcoming her fear of numbers, learning to price her work for profit, and using reverse engineering to build a sustainable business model that honors both her creativity and her lifestyle. She also shares how she launched a second company, The Elegant Wedding Co., to empower other women photographers and create additional income streams. In this heartfelt conversation, Danielle and Randi discuss raising prices with confidence, managing expenses (including how AI helped Randi streamline editing), and the importance of financial systems when life throws unexpected challenges your way. The biggest takeaway? You don’t have to be a “numbers person” to run a profitable creative business — you just need a system and the courage to trust it.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Entrepreneurs are natural visionaries, but that constant stream of ideas can quickly become overwhelming, especially for those with ADHD. In this inspiring conversation, accountability coach and productivity expert Hannah Cox joins Danielle to share her five “Do It Today” strategies to help entrepreneurs move from vision to execution. Hannah explains how to connect with your ideal life, reverse engineer your goals, focus on high-leverage tasks, delegate effectively, and build accountability into your routine. Whether you’re officially diagnosed with ADHD or just have a visionary mind that won’t stop spinning, Hannah’s practical, actionable tips will help you stop spinning your wheels and start gaining real momentum. Resources Mentioned: Download Hannah’s free blueprint: coachhannahcox.com/today

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Join us on Profit First Nation podcast as we explore playful leadership with Profit First author Mike Michalowicz. Learn how incorporating play into your leadership style can strengthen team bonds, boost morale, and increase productivity. Discover daily huddle secrets and key strategies to create an unstoppable team.    Listen now for actionable insights and transform your business dynamics!

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Alexis Kingsbury shares how implementing Profit First revolutionized both his business finances and personal peace of mind. From tackling early cash flow chaos to building 12+ months of reserves and navigating COVID-19 with confidence, Alexis outlines his journey from spreadsheet juggling to fully integrated Profit First systems. Plus, learn how his software company, AirManual, helps entrepreneurs scale efficiently by documenting processes and empowering teams.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Four years after their first appearance, Margy Feldhuhn and Jessica Rhodes — co-owners of Interview Connections, the pioneering podcast booking agency — return to Profit First Nation to share how Profit First has fueled long-term profitability, resilience, and clarity in their business. They discuss how shifting their focus from top-line revenue to cash and margin transformed their agency, why agile teams and self-management have been game changers, and how Profit First continues to power smart decisions — even during tight financial seasons. Plus, Margy reveals how Profit First supports nervous system regulation (yes, really!), and Jessica explains how a clear cash structure fosters trust in business partnerships. This episode is a masterclass in sustainable agency growth and values-driven leadership.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 “When in doubt, add an account.” Profit First Professional’s Chief Profit Guide, Billy Ann Grigg, discusses the concept of adding additional bank accounts to the Profit First system when necessary.  They highlight the importance of setting up accounts for specific purposes, such as a drip account for managing seasonal income, a payroll account to ensure you never miss paying your employees, and an account for large annual expenses like insurance or subscriptions.  They stress the need to track the return on marketing expenses and allocate funds for education and travel. The episode emphasizes the importance of allocating funds to different accounts to ensure financial stability and clarity in business operations. TIMESTAMPS: [00:45] Importance of additional accounts in the Profit First system [01:47] The role of a drip account in stabilizing cash flow, managing retainers and allocation from the drip account [08:09] Setting up a payroll account to ensure timely employee payments. Identifying payroll bloat and making staffing adjustments [11:16] Tracking ROI on marketing expenses and setting up a marketing account [16:38] Avoiding credit card expenses by having the money ready for large expenses [21:24] Allocating for education and memberships [22:53] Travel accounts for business trips and in-person events   KEY TAKEAWAYS: Establishing dedicated bank accounts for specific purposes within the Profit First system helps maintain financial stability and clarity in business operations.Accounts like the drip account, payroll account, and marketing account are essential for managing seasonal income, ensuring timely employee payments, and tracking the return on marketing expenses.Allocating funds for large annual expenses, education, and travel helps businesses plan and budget effectively, reducing financial stress and improving overall profitability.

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 Welcome to this episode of Profit First Nation Podcast, where we dive deep into maximizing your business's profitability through effective payroll management. Discover the secret to tripling the function of your roles without getting hung up on titles.    Learn how to make strategic hiring decisions, use job titles effectively, and set clear success metrics that ensure every dollar you invest in your team works three times harder for your bottom line.    Tune in for invaluable insights on building an unstoppable team that drives your business forward!

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 In this episode of Profit First Nation Podcast, we dive into the world of Profit First and uncover the top 8 mistakes that entrepreneurs often make when implementing this revolutionary financial system. From neglecting to set realistic profit targets to failing to prioritize profit allocations, these missteps can hinder your business's financial growth.   Join us as we discuss practical strategies to avoid these pitfalls and ensure that you're maximizing your profitability. Whether you're a seasoned business owner or just starting out, this episode is packed with valuable insights to help you take control of your finances and increase your bottom line.    Tune in now and discover how to make Profit First work for you!

Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation  To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟 If you ever have the slightest intention to sell your business, understanding its value is crucial. Strategic pre-planning for the sale can enhance your value builder score so you sell at a premium multiple of earnings.   In today's discussion, Danielle delves into one of the eight key drivers to improve profitability: monopoly control. Following that, she will explain ten distinct strategies to attain monopoly control.    Whether you are contemplating an exit from your business now or eons from now, this episode is a must for every entrepreneur   IN THIS EPISODE: [01:21] What is the value of my business, how do I raise profitability, and what is monopoly control [06:24] Danielle shares ten ideas and strategies that will raise your profitability; however, be advised that you won’t serve everyone when you are a monopoly of one [10:25] Rule One: Does your technology set you apart [14:27] Rule Two: Customization and personalization [16:07] Rule Three: Providing exceptional customer service [17:16] Rule Four: Package what you offer so that it cannot be price-shopped [20:18] Rule Five: Develop brand identity [21:46] Rule Six: Create a user experience [23:02] Rule Seven: Connecting with other partnerships and collaborations [25:02] Rule Eight: Position your business as the industry authority [27:56] Rule Nine: Use innovative marketing and selling strategies [29:03] Rule Ten: Trial periods and guarantees KEY TAKEAWAYS:  Always be conscious of driving the value of your business, especially when considering exiting the business. “Monopoly Control Strategies” such as education and knowledge sharing, innovative marketing and selling, and "done for you" services can significantly impact the valuation of a business. Achieving “Monopoly Control” is crucial for maximizing the price and margin in your business. Strategies such as branding, storytelling, and offering trial periods and guarantees can help businesses stand out in the market and dictate pricing. Connecting with customers through storytelling, sharing educational content, and offering personalized services. Building a strong brand identity and aligning with customer values can differentiate a business in the market.   Pre-Order ALL IN: How Great Leaders Build Unstoppable Teams https://www.amazon.com/All-Great-Leaders-Build-Unstoppable/dp/0593544501/ref=sr_1_1?keywords=all+in+mike+michalowicz&qid=1700164489&sr=8-1   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books