The GAAP (Generally Accepted Accounting Principles) formula for determining a business’s profit is Sales – Expenses = Profit. It is simple, logical and clear. Unfortunately, it’s a lie. The formula, while logically accurate, does not account for human behavior. In the GAAP formula profit is a left over, a final consideration, something that is hopefully a nice surprise at the end of the year. Alas, the profit is rarely there and the business continues on its check to check survival.
With Profit First you to flip the formula to Sales – Profit = Expenses. Logically the math is the same, but from the standpoint of the entrepreneur’s behavior it is radically different. With Profit First, you take a predetermined percentage of profit from every sale first, and only the remainder is available for expenses.
Presented by Susan Frew
As the daughter of a carpenter and the wife of a master Plumber, Susan Frew used her Business Coaching experience, having coached over 10,000 hours, 18 different trades and 150 companies.
The Frews grew Sunshine Plumbing Heating Air 535% in just one year and made the illusive INC5000 list in 2019 along with 43 other awards and accolades.
Susan is a former International GM with AT&T Wireless, Instructor for the SBA’s national Emerging Leaders program, radio host of “Coaching Not Just for Sports” on ESPN radio in Denver.
After a break to focus on Sunshine’s growth, Susan returned to her roots as a Business Coach, Professional Speaker and Emcee.
In 2020, Susan is delivering her new virtual keynotes session called: “Leading through the Rain”, Susan walks the audience through the journey of almost losing her multimillion dollar company by way of a bad hire. Learn how Susan and her team turned Sunshine around and saved it from going down the drain (plumber humor) after being close to 1 Million Dollars in Debt.
Susan motivates and inspires audiences by showing them the way to overcome adversity and she has made it her life’s work to help other businesses to thrive and avoid catastrophe.
Susan is a Certified Business Coach, and a Profit First Professional and can be reached at firstname.lastname@example.org