Profit First for Newbies - Lisa Campbell Profit Coach<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lisacampbellprofitcoach.com\/index.php\/profit-first-for-newbies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Profit First for Newbies - Lisa Campbell Profit Coach\" \/>\n<meta property=\"og:description\" content=\"What is Profit First? Profit First is changing how businesses think about their bottom line. Mike Michalowicz founder of Profit First PROFITABILITY\u00a0IS A FAR BETTER MEASURE OF BUSINESS SUCCESS THAN TOTAL REVENUE. What is a business without profit? It’s a hobby. Ouch. 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Michalowicz reverses this equation, educating entrepreneurs to \u201cput profit first\u2019.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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SALES \u2013 PROFIT = EXPENSES.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Why?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Because the traditional way of thinking doesn\u2019t always equal to a healthy bottom line.<\/b><\/p>

But isn\u2019t this equation just a different way of getting to the same end point?<\/div>
Yes and no. Yes, if the numbers stay the same you will continue to get the same result.<\/div>
And no. If you re-frame the way you prioritize profit, you will get a better result.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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How?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The shift starts with a change in your mindset.<\/b>\u00a0(Stick with me here \u2013 this is not just a woo-woo talk.)<\/p>
When I speak to anyone about their finances, it starts with:\u00a0<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\u201cMoney is not complicated,<\/p>
your relationship with it is.\u201d<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Lisa Campbell<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Profit First is about changing your relationship to money.<\/b><\/p>
It\u2019s about creating a shift from money controlling you, to you controlling your money and keep more of it!<\/div>
It\u2019s about looking at the revenue that comes into your business, calculating the amount of profit you need<\/div>
to thrive and then ensuring your expenses fit within your remaining budget.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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*Nerd Alert*<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Want to understand more?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The concept is based on Parkinson\u2019s Law \u2013 \u2018work expands to fill the time available to completion\u2019.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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This is an example of Parkinson\u2019s Law:<\/p>
\u00a0
If you are given 14 days to complete a project, it takes 14 days to complete. By contrast, you are given one<\/div>
day to complete the same project, it only takes one day. We surprise ourselves with how much can get done in<\/div>
a shortened timeline and feel pretty good about the end result.<\/div>
\u00a0<\/div>
\u00a0<\/div>
Michalowicz applies this concept to your finances. You will spend the money you have left over after<\/div>
expenses have been paid simply because you have it available. Your expenses, business expansion, or project<\/div>
will eat up all the remaining money in your account, literally because it is there.<\/div>
\u00a0<\/div>
\u00a0<\/div>
Flipping the profit equation on its head causes us to prioritize profit instead of \u2018taking what\u2019s left\u2019. The<\/div>
re-framing forces us to think differently about our spending habits. It requires you to innovate by creating the<\/div>
same or better output, with less resources. This is called putting profit first.<\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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I\u2019m Lisa Campbell \u2013\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Wise-sage, meets kick-butt coach that puts you on the<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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fast-track to financial success.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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I coach bookkeepers, accountants and entrepreneurs to build a profitable, systemized and sustainable business without losing sleep.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t $\"lisa\"$ \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Ready to work with me?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Are you a bookkeeper or accountant that wants to take their business to the next level?<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Are you looking to become a Profit First Professional in Canada?<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Are you an Entrepreneur looking to work with a Canadian Profit First Professional?<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tJOIN ACCELERATE 2 ADVISOR<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t \n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tPROFIT FIRST CERTIFICATION<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t \n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tCONNECT WITH A PROFIT FIRST PROFESSIONAL<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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FROM HOURLY BOOKKEEPER TO HIGH-VALUE ADVISOR<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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FROM MONEY GENERALIST TO CERTIFIED PROFIT FIRST SPECIALIST<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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FROM FINANCIAL BUSINESS OVERWHELM TO PROFIT FIRST ROCKSTAR<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t $\"49630085-0-WIA-Top50-badge\"$ \t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \n\t\t\t\t\t\t\t $\"PFPMasteryLogo\"$ \t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\n\t\t\t\t\t \n\t\t\t\t\t\tFacebook<\/span>\n\t\t\t\t\t\t