https://abs.twimg.com/emoji/v2/... draggable="false" alt="💸" title="Geld mit Flügeln" aria-label="Emoji: Geld mit Flügeln"> Business Finance Simplified https://abs.twimg.com/emoji/v2/... draggable="false" alt="💸" title="Geld mit Flügeln" aria-label="Emoji: Geld mit Flügeln">

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🏢" title="Bürogebäude" aria-label="Emoji: Bürogebäude"> Do you own your own business?

https://abs.twimg.com/emoji/v2/... draggable="false" alt="➕" title="Fettes Pluszeichen" aria-label="Emoji: Fettes Pluszeichen"> Are you sure your numbers work?

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤔" title="Denkendes Gesicht" aria-label="Emoji: Denkendes Gesicht"> Are you profitable?

Read on to see a simple system for your cashflow

https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">

[THREAD]

Let& #39;s talk about human behavior.

We all do this.

Does this sound familiar?

https://abs.twimg.com/emoji/v2/... draggable="false" alt="1️⃣" title="Tastenkappe Ziffer 1" aria-label="Emoji: Tastenkappe Ziffer 1"> You need to purchase something for your business.

https://abs.twimg.com/emoji/v2/... draggable="false" alt="2️⃣" title="Tastenkappe Ziffer 2" aria-label="Emoji: Tastenkappe Ziffer 2"> You check the bank account.

https://abs.twimg.com/emoji/v2/... draggable="false" alt="3️⃣" title="Tastenkappe Ziffer 3" aria-label="Emoji: Tastenkappe Ziffer 3"> If there is a decent amount of money in it you buy the thing.

https://abs.twimg.com/emoji/v2/... draggable="false" alt="💳" title="Kreditkarte" aria-label="Emoji: Kreditkarte"> Bank Balance Accounting https://abs.twimg.com/emoji/v2/... draggable="false" alt="💳" title="Kreditkarte" aria-label="Emoji: Kreditkarte">

It’s good and bad.

This system allows for this.

Works with your human behavior.

Plays to your strengths.

Setting up multiple accounts allows you to understand your cash flow and stay profitable.

Step https://abs.twimg.com/emoji/v2/... draggable="false" alt="1️⃣" title="Tastenkappe Ziffer 1" aria-label="Emoji: Tastenkappe Ziffer 1"> : Setup 5 Bank Accounts.

INCOME
PROFIT
TAX
OWNERS COMP
OPERATING EXPENSES

If you don& #39;t set these up none of it will work.

So go set them up NOW!

Step https://abs.twimg.com/emoji/v2/... draggable="false" alt="2️⃣" title="Tastenkappe Ziffer 2" aria-label="Emoji: Tastenkappe Ziffer 2"> : The System

All income gets deposited into the income account.

On the 10th and 25th of the month distribute based on your percentages.

You have to play with this to get it right.

It can vary widely based on what business you are in.

Here are my numbers:

Profit: 5%
Tax: 15%
Owners Comp: 30%
Operating Expenses: 50%

Each year I will review actual numbers and adjust.

If you are just starting this system the BEST thing to do is start with 1% profit and adjust over time.

Step https://abs.twimg.com/emoji/v2/... draggable="false" alt="3️⃣" title="Tastenkappe Ziffer 3" aria-label="Emoji: Tastenkappe Ziffer 3"> : PROFIT

This is what you are reading this thread for.

This is why you started your business.

Enjoy what your business has produced.

Each quarter, take half of the money out of your profit account.

This is yours.

Use it for whatever you would like.

But don’t use it to reinvest in the business!

What!?! You say, I have to reinvest in my business!

You are, you are forcing your business to run and grow from the operating expense account.

This isn& #39;t the sexy silicon valley startup finance where you get tons of investors and capital.

That& #39;s also boom or bust.

9 out of 10 of those businesses fail.

Do this and your& #39;s won& #39;t.

Find out more in-depth by reading Profit First by @MikeMichalowicz

https://www.amazon.com/dp/073521414X/ref=cm_sw_em_r_mt_dp_zZzFFbC3DV1SJ

It">https://www.amazon.com/dp/073521... will change your business and keep you profitable.

If you found this useful.

Or use the reverse to change your pricing so that you are profitable.

Please give it a retweet.

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙏" title="Folded hands" aria-label="Emoji: Folded hands">