This episode packed with Profit First insights features Ron Saharyan, co-founder of the Profit First Professionals. Ron shares practical insights about Profit First fundamentals. He gives actionable tips for law firm owners who want to build a healthy, sustainable, and profitable business by following the Profit First methodology.
We also hear about how Ron’s childhood friendship with Profit First author, Mike Michalowicz turned into the Profit First Professionals which is approaching a 10-year milestone.
“Profit First does not care what your current financial situation is. It is a framework that will allow you to build the financial muscle memory to help you get out of that financial situation and also prevent you from falling back into it.”Ron Saharyan
Profit First Professionals
- Start Small: Begin by scrutinizing your P&L to find 3-10% you can allocate to profit.
- Enjoy the Suck: Reversing years of financial processes and mindset will take time. Be prepared for an adjustment period.
- Get Support: Lean on your support system (like How To Manage A Small Law Firm) for guidance and answers to your questions.
RJon in the Studio
RJon shares his own Profit First journey from nearly going under to running a multi-million dollar business. He explains in a Facebook Live clip why the typical excuse of “I’ll begin Profit First once I become profitable” is invalid – Profit First principles lead to profitability.
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