Ep 5 | The Bank Account Setup That Changes Everything (Profit First)
The most practical Profit First move there is happens to be the most boring: opening a few bank accounts. In this episode, Barb Fisher and Juliana get into how to actually set it up, how the money flows between accounts, and the small choices (like which bank you use) that make the whole system run itself.
In this episode, you’ll learn:
Why Profit First starts with multiple bank accounts, and how that changes your financial management
How the income account and your holding and operating accounts work together to track expenses and profit
How to allocate funds on a regular rhythm, ideally…
The skinny
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