PC128 - Profit Psychology

What is the purpose of your business? I'm not asking you why you decided to start a business, why you got into business. I'm asking, what's the purpose of your business? And yes, pretty sure I have an answer.

You may have noticed by now that the title of this show is Profit for Coaches. And my brand for all of the coaching that I do for other coaches in the coaching community is the Profit for Coaches brand. My program for cashflow management is Profit Flow, which is based a hundred percent on Profit First. I am a licensed and certified Profit First Professional. I'm an Advanced Professional. I'm a Profit First Coach, and I'm a guide and trainer for other Profit First Professionals in Canada. I'm pretty fond of that system of cashflow management. 

We talk about leveraging your own psychology as a human being. Leveraging the way that your brain and emotions already work, so that your behaviors are actually a benefit to you rather than something that is getting in your way, causing a problem or something that you're supposed to have to learn how to retrain, do differently, et cetera.

So why do we focus so much on looking at profit first?

“Before you can do anything else, before you can make any changes in the world that are positive, you have to be self-sufficient.” — Jos Willard

This week on Profit for Coaches:

• The psychology of Profit First and why I focus so much on it
• What questions to ask in your business to make the most positive impact on the world
• The science side and the woo side of how we make things come to be
• The purpose of any business, whether for-profit or not
• The FREE profitable practice scorecard!

Our Favorite Quotes:

• “Your number one focus as a business owner, needs to be having that business be profitable.” — Jos Willard
• “The purpose of a business is to make a profit for its owners. Everything else that does is secondary to that.” — Jos Willard
• “We're making decisions, we want to ask, is this investment going to help the business perform its purpose?” — Jos Willard

Resources Mentioned:

• Book: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
• Podcast Episode: The Woo Scale

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