Work with profit-first professionals to unlock long-term success. Developed by Mike Michalowicz, the method follows a straightforward approach to simplify accounting. Hire certified financial advisors to replace GAAP (Generally Accepted Accounting Principles) with personalized methodologies. Compared to traditional accounting, leverage these systems to optimize cash flow, savings, monthly expenses, and consistent earnings. Count on certified financial planners to implement innovative solutions based on your unique requirements. Read on to learn how to streamline growth with the profit-first method.
Build Your Strategy With A Mastery-Level Certified Profit First Professional
Design, build, and implement the cash management system with Perry K. Jeffries III. Perry is the founder & president of Diamond Equity Advisors, one of the few RIA firms globally with a Certified Profit First Professional – Mastery designation. His certification, services, and strategies were recognized by Mike Michalowicz. With these credentials, Perry proudly follows Mike’s core concepts, which flip the traditional accounting formula to sales – profit = expenses. In addition to a mastery-level certified PFP, Perry is dedicated to helping high-income owners buy back their time:
- 2022 Marketer Of The Year (Out Of 600+ Profit First Professionals)
- Series 66 Investment Advisor License
- Chartered Retirement Planning Counselor (CRPC)
- Certified Plan Fiduciary Advisor (CPFA)
- Certified In Blockchain & Digital Asset Investing (DCAFP)
- 22+ Years Experience In The Financial Services Industry
- Founder Of Cash Flow Unlocked Podcast & Community
- Creator Of The Proprietary W.E.A.L.T.H.Y Framework
- Managed $80M+ In Client Assets
- Fractional CFO For 6 & 7 Figure Entrepreneurs
- Built A Successful Seven-Figure Real Estate Portfolio
- Certified John Maxwell Speaker & Coach (Personal Growth & Leadership)
- John Maxwell Global Leadership Team Member
- Former Brand Ambassador To Daymond John
Once you’re ready to take the next step, book a strategy call with Perry Jeffries to access the tools, systems, and infrastructure.
Hire Professionals For Personal & Company Finances
Hire a certified profit first consulting firm to build a stronger financial foundation. Proven strategies strengthen cash flow, and enhance long-term financial stability. Experts provide guidance beyond traditional accounting and bookkeeping. You can streamline accounting, improve financial discipline, and review tax return practices to maximize earnings. A certified professional provides strategic guides for:
- Profitability Assessment
- Cash Flow Management Strategies
- Bookkeeping & Accounting Support
- Tax Return Assistance
- Customized Management Plans
- Financial Performance Improvement
- Improve Financial Focus
- Increasing Industry Sales & Ensure You’re Getting Paid
Long-term, these systems are a game changer in how your business measures success – with strategies & services customized for every corporate industry. Access straight talk and actionable lessons that most entrepreneurs overlook. Hire certified advisors to improve performance and achieve success.
Review Costs, Services, & Engagement Models
Review Profit First Advisor pricing and engagement models. Compare costs based on your bookkeeping and cash allocation needs. Basic bookkeeping with Profit First allocations ranges from $300 to $800 per month. Ongoing support can range from $800 to $2,000 per month. Consider costs above $2,000 for complex needs. Experts evaluate pricing based on your revenue, transaction volume, and number of bank accounts. Compare flat monthly retainers for recurring tasks such as account reconciliations, transfer calculations, and financial reporting. Ask about setup fees, cleanup work, accounting software, and other costs before comparing proposals. Compare engagement models based on the level of support:
| Service Level | Typical Monthly Cost | Support Included |
| Basic Bookkeeping | $300 – $800 | Bookkeeping & allocations |
| Ongoing Support | $800 – $2,000 | Bookkeeping & regular allocation support |
| Advisory-Led Support | $2,000+ | Complex bookkeeping & financial guidance |
Evaluate costs based on the level of financial guidance required.
Establish Your Target Percentages
Set percentages to manage cash flow. Determine Target Allocation Percentages (TAPs) for profit, taxes, and operating expenses based on revenue level. Calculate these percentages using your real revenue after deducting costs such as materials and subcontractors. Experienced CFO reviews Current Allocation Percentages (CAPs) to understand how revenue is currently distributed. Compare CAPs with recommended TAPs to find where allocation changes are required. Start with a small 1% profit allocation if the target percentage is difficult to achieve. Increase allocations to 1-2% each quarter rather than making all changes at once. Compare target percentages based on revenue:
| Real Revenue | Profit | Owner’s Pay | Tax | OpEx |
| Under $250K | 5% | 50% | 15% | 30% |
| $250K – $1M | 10% – 15% | 20% – 35% | 15% | 40% – 50% |
| $1M+ | 20% – 25% | 5% – 10% | 15% | 55% |
Adjust allocation percentages with an expert advisor to support business requirements.
Set Up Separate Bank Accounts
Set up separate bank accounts to organize your finances. Professionals recommend creating 4-5 dedicated accounts for your specific purposes. Create income, profit, owner’s compensation, tax, and operating expenses (OpEx) accounts for better financial tracking. Distribute your income into dedicated accounts at the end of each month according to predetermined allocation percentages. Structured cash management approach improves financial control and prevents fund misuse. Plus, separate accounts prepare for quarterly estimates, federal taxes, state taxes, and other tax obligations. Operating Expenses account helps manage your day-to-day costs, including rent, payroll, software, utilities, and supplies. Work with professional coaches to create separate accounts:
- Income & Profit Account
- Owner’s Compensation
- Tax Purpose
- Operating Expenses (OpEx)
Work with certified profit first professionals to establish separate bank accounts for company finances.
Manage Monthly Expenses & Optimize Cash Flow
Manage monthly expenses with the Profit First approach to improve cash flow. Organize your income and costs across multiple revenue sources, financial accounts, and transactions to have a clear view of financial position. Monitor cash flow, revenue, and operating expenses daily instead of waiting for month-end financial reports from your bookkeeper. Unlike traditional accounting, the method allocates profit before covering your operating charges. Fund Distribution in dedicated accounts improves spending discipline, financial visibility, and daily operations management. Plus, a structured approach helps manage your monthly expenses confidently, prepare for future investments, and track finances effectively. Professionals manage costs through:
- Monthly Cash Flow Monitoring
- Income & Expense Tracking
- Multiple Revenue Source Management
- Percentage-Based Fund Allocation
- Expense Management
- Operating Expense (OpEx) Control
Connect with a professional for monthly expense & operating cost management.
Maintain Sustainable Profits
Implement profit-first practices to maintain sustainable profits. Fractional CFOs implement personalized strategies, monitor your monthly progress, and keep you accountable for long-term success. Additionally, work with your professional to identify, lower, and optimize unnecessary costs.
Enable Systems & Services With Focus
Now, you are ready to enable systems, accelerate sales, and focus on key services. Following the profit first method can drive positive outcomes in months. Nationwide, nearly 200,000 companies have implemented this method – increasing earnings by over 50% in initial years. Membership includes hundreds of global members in over twenty countries – spanning Fortune 100/500 corporations, solo-entrepreneurs, and HNWIs. Firms conduct regular check-ins & attend popular speaker events – staying updated with the latest money techniques, marketing tools, and community resources. Since the program was created in 2014, countless entrepreneurs have increased net profits.
Frequently Asked Questions (FAQs)
What Does An Advisor Do?
Customize your profit first cash management system around your specific requirements. Establish a structured approach to manage your cash. Experts maintain accountability to implement the system correctly and keep your priorities on track. Experienced accountants, bookkeepers, or coaches apply principles to support small and mid-sized businesses. Use ongoing professional guidance to strengthen your cash management. Understand the responsibilities:
- Manage Cash Flow
- Maintain Financial Accountability
- Translate Financial Numbers
- Provide Strategic Guidance
- Support Growth
How Does The Method Work?
Divide your revenue into separate accounts using predetermined percentages. Allocate profit first and leave the remaining funds for operating expenses. Use dedicated accounts for income, expenses, owner compensation, profit, and taxes to organize your cash flow. Work with an expert to transfer accumulated income into accounts twice per month. Apply current and target allocation percentages to determine how much revenue goes to each financial priority. Establish suitable allocations and apply the system. Apply the Formula: Revenue – Profit = Expenses. Set up a system to organize your income:
- Find a Suitable Bank
- Set Up Separate Accounts
- Calculate Current Allocations
- Adjust Allocation Percentages
- Analyze Monthly Progress
Apply the method to organize cash flow.
Is This Method Right For My Company?
Identify if your small business needs profit first coaching professionals for long-term financial success. Analyze your current cash flow and financial performance. Build customized strategies that prioritize profit over revenue and strengthen your financial foundation. Build long-term resilience, and navigate economic uncertainties with confidence. Certified professionals evaluate your needs and determine if the strategy is suitable for small business, tech startups, service firms, or family-owned firms. A strong financial foundation strengthens cash flow management and empowers you to make strong decisions. Work with your accountant to identify a sustainable and financially resilient model. Advisors help owners achieve:
- Follow The Pay Yourself First Principle
- Strong Financial Foundation
- Improve Cash Flow Management
- Enhance Profit Allocation
- Great Financial Control
- Sustainable Growth
- Long-Term Financial Stability
- Increase Resilience
- Account Structuring & Ongoing Support
- Coordinate With Professional Bookkeepers & Membership Organizations
- Completely Transform Financial Operations
- Leverage Systems & Services That Bring In New Clients
Why Are Profit First Professionals A Game Changer?
Strengthen your organization’s cash management system with coaches. Most owners handle banking, serious money decisions, financial stress alone. These professionals enable you to conduct business differently. Build a business that tracks financial goals, and enables more clients & more money. Optimize your break even, and make processes radically simple.
Here’s a few factors for choosing professionals:
- Implement The Four Account Distribution System
- Optimize Bank Balance Accounting For Mastery Certified Profit First Professionals
- Change Your Formula To Sales – Profit = Expenses
- Separate Funds Into Dedicated Operations & Investment Accounts
- Coordinate Regular Adjustments That Align With Current Needs & Allocations
Determine how coaching firms can help your organization.
The Cash Flow Show: How The Profit First Method Transformed A Wellness Business.
What Does A Specialist Do?
CFO starts with a financial diagnostic to review your current deposits, owner pay, taxes, and operating expenses. Complete a Profit First assessment to know current allocations with benchmarks. Experts develop a roadmap that gradually moves current percentages toward established targets. Set up the five core bank accounts to separate your funds based on priorities. The advisor establishes a consistent allocation schedule to divide incoming deposits before payroll, taxes, and other expenses. Review your allocations, profit distributions, and targets during quarterly meetings. Work with a certified professional to maintain a documented cash allocation plan and make financial decisions.