Advice I would give my kids, and why Profit First is included!

by | Aug 15, 2019 | Accounting, Culture, Workflow | 0 comments

I don’t really give my kids much advice these days, unless they ask for it. They’re old enough now (35, 38, & 40) to find wisdom by themselves. In fact, I’m often learning from them. I remember the good old days too though, sharing things with them that would give them a leg up in life. I was often advising them on positive thinking and self-awareness, quoting things like:


“what you think about, you bring about”


“our thoughts create our reality” 

and that

“what someone says or does has nothing to do with you, and everything to do with them”.

When they were growing up, I felt it was important that they have respect and kindness toward others, no matter what. I still do. Teaching good manners was huge too. They love to call me the “manners Nazi” because chewing with your mouth open, elbows on the table, or slouching are just bad form. Not sure if using the term “Nazi” in this way is considered acceptable anymore, but you get my meaning.

I’m visiting my son this week, and it got me thinking about the advice I would give my adult children. Bar none, hands down, no competition it would be:

“Do the Profit First cash management method and stick to it like glue!”

It may not sound like the kind of advice you would keep forwarding around on a fancy graphic over social media, or have an epiphany about while on some spiritual vision quest. But having a profitable business is exactly the kind of vision we hold for ourselves! Life is SO MUCH BETTER when there’s plenty of money to afford the things you need or want. New equipment for you business, a vacation, or hiring additional talent comes to mind. Remember, money, isn’t sought because of what it is, but rather what it provides. Freedom.

I’m going to be a bit like a MOM when it comes to giving you this advice, in fact, I’ll be telling you about Profit First ‘until you’re blue in the face’! LOL! You know I don’t have to be your ACTUAL Mom to want good things for you, so:

  1. Always fill your gas tank before going on a long trip.
  2. If you see an open wine bottle and helium balloons, run for the door or prepare to get really silly.
  3. Spend as much time with your kids as possible – they grow up fast.
  4. Never play poker unless you’re prepared to lose the money you brought to the table.
  5. Don’t sweat the small stuff.
  6. Always check yourself in the mirror before going into a job interview or on a date.
  7. Don’t be afraid to get your hands dirty.
  8. Go out of your way to tell your family and friends how much you love them.
  9. Outsource stuff you’d rather not do.
  10. Think ahead and save money for a ‘rainy day’.

Do you have advice you’ve shared with your kids (young/old)? I’d love to hear what good things you want for them, for yourself, and the wisdom you share that aids in the achievement. Leave a comment below.

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Lori Peterson


Lori Petersen

Lori Petersen has seen the frustration and loss that business owners experience when they don’t have command of their finances. Growing up, she watched her father work incredibly hard as a contractor. He’d come home late, eat the dinner kept warm in the oven, and do it all over again the next day. But it all came crashing down when he had to close the business and Lori’s family applied for food stamps. The business had failed and all of his hard work was for nothing. 

Today, Lori views every one of her clients as an opportunity to make this right. She firmly believes no one should work as hard as her dad did and not have a profitable business. No family should suffer because business finances were poorly managed. 

Lori has helped hundreds of business owners make sense of their finances, implement proven money management systems and create unimagined profitability for their business. She ensures they experience the return they deserve for their hard labor.

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