Playbook / Lessons / Team and numbers

Set up separate accounts and review them

Michalowicz gives a quick-start for Profit First: separate bank accounts for income, profit, owner's compensation, taxes and operating expenses, with percentages adjusted as the business changes. He suggests a regular rhythm for moving money, such as every two weeks or monthly.

“Continuously monitor your cash flow, review your allocations, and adjust them as needed.”— Mike Michalowicz, Organizing Your Cash Flow with Mike Michalowicz, Sep 2023

Do this

Open a separate tax account and move a fixed share of each deposit into it on a set day this week.

More in this pack

• Know your burn and runway
• Write down your routine tasks as SOPs
• Judge burn against new ARR
• Make yourself unnecessary to daily decisions

Get your plan

All steps · Trust · Pricing