You probably began your landscaping business because you love the work, you’re good at it, and you want to be your own boss. The ability to start a new venture, like owning your own business, takes grit and a willingness to try things outside of your comfort zone. This is a gift that will help you succeed in so many areas, but it can also inhibit your progress.
When you’re used to DIYing certain areas of your business, you may not realize how beneficial it could be to hire an expert for the things you’re not trained or gifted in.
One of the biggest areas that business owners struggle to manage successfully is their company’s finances.
Here’s the good news: struggling with your money management doesn’t mean you’re a terrible business owner. It just means you need to find a better system.
The landscaping industry is unique because you have to have methods to keep the cash flow coming during your off-season, or you may have to purchase or repair machines and equipment. There are countless financial variables and unknowns as you set out in your business, and it may be tempting to try out the first bookkeeping method or service that you see. But if your mind isn’t wired to think like a bookkeeper or accountant, certain systems won’t work well for you as they might for someone else.
That’s where the Profit First bookkeeping method comes in. Profit First leverages the natural behaviors we all have – we’re naturally going to spend the money that’s in front of us. If you’ve ever wondered how the money you make never seems like enough, or how you continue to spend “all that money” in your bank account, we have an answer for you.
Simply put – you’re a person, and that’s how people work!
We will use all the resources available to us if given the chance, and Profit First will help you set more boundaries in your landscaping bookkeeping by dividing your spending into different bank accounts. You can’t spend more money than you need to on your equipment, because the money won’t be there to spend. It’ll be in another account where it’s truly needed.
The ripple effect of implementing Profit First can happen in so many ways – as you begin to feel more in control of your money, you won’t feel constantly stressed. You also will be able to make clear-minded decisions about your company’s finances, rather than being frozen in indecision or overspending out of stress.
Profit First is easy to understand and enables you to make more money and reserve incentives for yourself in the process.
At AccountSolve, we specialize in Profit First for landscapers like you! If Profit First sounds great but you don’t know where to start, schedule a call with us today. It’s time to stop fighting against your natural tendencies and start using a method that will work with you.