As Profit First professionals, we love talking about profits, and we love helping businesses maximize their profits. Creating a profitable company doesn't happen by chance. It requires focus, dedication, and effort. Harvard professor Michael Porter states, "If your goal is anything but profitability - if it's to be big, or to grow fast, or to become a technology leader - you'll hit problems." True? We think so because when our focus shifts away from profits, then our decisions as savvy entrepreneurs are based on superficial desires and often irrational expectations. Bottom line...we fail to consider how the decision will impact profits. And didn't you start your business to make a profit???? Today we discuss five concepts of profitability that every business owner should focus on to help maximize their profits. These concepts are part of Mike Michalowicz's "Profit First" system that he outlines in his book.. (wait for it!!!) Profit First. These concepts are not novel. They are not hard to implement. However, experience shows very few business owners implement these concepts, including: Know your expenses Set aside money for taxes Pay yourself first Pay off your debt Focus on profits To gain a better understanding of these concepts and how their implementation will change the trajectory of your profits, we recommend you do two things: Read the book Profit First Work with a Profit First professional As Profit First professionals, we are here to help you maximize and enjoy the fruits on your entrepreneurial journey...your Profits. Are you ready to transform your business into a profit generating machine? CONTACT US AT: Website: https://procenac.com/ (https://procenac.com/) Instagram: @procenac Facebook: @procenac **** Don't forget to take a minute to rate and review the podcast.