PROFIT FIRST™️ FOR RETAILERS
Hello there!
Are you a store owner ready to start putting your
PROFIT FIRST?
Have you been looking for a way to...
- Always have money for payroll, taxes and rent when you need it
- Never worrying about taking a fair paycheck from your business again
- Have financial peace of mind
Welcome to...
PROFIT FIRST
powered by RETAILMavens
FIX CASH FLOW PROBLEMS
The Profit First™️ method allows you to fix cash flow problems, pay yourself AND make a profit!
PRIORITIZE PROFIT
Transform your business from a cash-eating monster into a money making machine with strategies designed to prioritize your retail profit.
DESTROY DEBT
Using the Profit First™️ method you can finally destroy debt forever and start PAY AHEAD instead of PAYING BACK.
"If your store is a cash eating monster, YOU are not the problem! You've been using an old BROKEN formula - an OLD way of approaching business finances that just doesn't work!"
The Profit First™️ Method
The Profit First™️ powered by RETAILMavens program guides you through the three phases of Profit First™️:
PHASE 1:
Profit First Assessment
For the most accurate roadmap to get to your financial goals, you need a clear picture of where you are now. Your Profit First™️ Maven will assess your current finances and align your first allocation goals with your future goals to get you started right, giving you an action plan to get there!
PHASE 2:
Profit First Implementation
Love the Profit First™️ concept but struggle with the implementation? You'll love the easy-to-use checklists and worksheets along with your own personal coach guiding you on the right implementation strategies for your store. Follow your action steps and start watching your profit grow!
PHASE 3:
Profit First Rhythm
With your assessment and implementation in place, you'll fall into the ease of the Profit First™️ Rhythm. Monthly and quarterly strategy meetings with your coach give you support and accountability every step of the way! The automated system takes the day-to-day decisions off your plate. Review, tweak and enjoy!
Profit First powered by RETAILMavens:
Building Wealth & Creating Legacy
If you find yourself with a store that’s a cash eating monster, I want you to know that YOU are not the problem! The problem is that you have been using the same old BROKEN formula - an OLD way of approaching business finances that just isn’t working:
SALES - EXPENSES = PROFIT
It’s looking back to see if anything was left over, and because you’re likely spending based on what you’re seeing in your bank account, there is nothing left over!
The Profit First™️ method fixes this problem with a surprisingly simple switch in that formula:
SALES - EXPENSES = PROFIT
SALES - PROFIT = EXPENSES
Instead of subtracting your expenses from your sales - hoping there’s something left over for profit, you’ll now subtract a set percentage of PROFIT from your sales FIRST.
The remainder is then used to pay for expenses.
This might look like such a SMALL change - but it causes a HUGE change in how you approach your finances!
"I wanted to feel more in control of my cash flow, with our subscription box income and expenses, it has been a challenge to plan on my own. Now there is money to be able to pay for popups and subscription boxes inventory AND I am paying myself regularly! What I can see is that I am becoming more in control. This has allowed me to take on new projects or assistance knowing that I can afford it!"
CADENCE KIDWELL | FUZZY GOAT
What it includes
When you join Profit First powered by RETAILMavens you'll get access to...
- A personal Profit First™️ certified coach assigned to your store
- Your customized Profit First™️ Roadmap
- During each strategy meeting your coach will review your expense analysis with you to make sure your allocations are doing their job, and suggest changes as needed!
- In the first month of each quarter, our monthly strategy meeting becomes a Quarterly Review where we analyze the previous quarter and set goals and action steps for this new quarter
FREQUENTLY ASKED QUESTIONS
We've got A's for your Q's
What's the difference between Profit Club and Profit First powered by RETAILMavens?
RETAILMavens Profit Club is centered around improving your cash flow through inventory management and becoming a more effective CEO. Our Profit Roadmap helps you achieve more sales with less inventory, ensuring that you have the right amount of the right merchandise at the right time. Profit Club is perfect for you if you feel like you're not in control of your inventory (too much, not enough, too old) and/or you're feeling overwhelmed and stressed about your retail business.
Profit First™️ powered by RETAILMavens takes the proven Profit First™️ cash management system, and adapts it to retail life! It helps you intentionally grow your profit, ensuring that when you need cash for inventory, rent, taxes... The money is there!
This program is right for you if you'd love to feel more in control of your finances and you're ready to use your store to build wealth.
The two programs complement each other perfectly for a comprehensive strategy to manage your retail store!
Do I need any particular software to join?
Ideally you should be using QuickBooks Online for your bookkeeping so you can make RETAILMavens an account user and we can help you setup your accounts faster and easier.
How do I know Profit First powered by RETAILMavens is for me?
If your store's finances are stressing you out - this program is for you! If you're not seeing a profit, or you'd like to grow your profit, this program will help you do that. If you're not paying yourself consistently, we can help you remedy that too. This program will help you give each dollar a job as it flows into your store, ensuring that when you need it - the money is there waiting. It will help you balance your expenses so that your store is not just breaking even - but growing a profit!
How long is the Profit First powered by RETAILMavens program?
This is a 12 month program that will set you up to manage the cash flow of your business now and in the future.
In the first month you'll go through Phases 1 and 2, assessing and implementing the strategies your coach customizes for you.
In months 2-12 you'll be in Phase 3, watching as the automated systems are building your profit and allocating money to your expenses. You and your coach will meet monthly to review and tweak as you go. Your quarterly reviews will help you evaluate your progress and set new goals for the next few months.
I've read the book, couldn't I just do this myself?
Absolutely! The principles are all there and you can get to work on implementing them yourself.
But what we often find, is that store owners struggle with finding the time to implement the steps from the book, and to know where to start when the allocations aren't working for you.
That's why we offer 1-on-1 guidance and support from a certified Profit First™️ coach that can assess where you are now in relation to where you want to go - and create your step-by-step plan to get there.
For every month you end up procrastinating following through on the principles, you could be growing your profit, just by accepting the help of a professional.
As with any endeavour, you can go it alone - or you can get better results, faster, by going with someone who has the experience and expertise to help you avoid pitfalls and keep you on track.
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