Fix This Next
The biggest challenge most entrepreneurs face, is that they don’t know what their biggest challenge is! Often, there are so many fires to put out, they just don’t know what the priorities should be.
“What do you fix first? Every issue seems urgent — but there’s no way to address all of them at once. The result? A business that continues to go in endless circles, putting out urgent fires, and prioritizing the wrong things.” In Mike Michalowicz’s book, Fix This Next, he explains that a business has a hierarchy of needs, just like Maslow’s hierarchy of human needs. Those business needs, in order, are: Sales, Profit, Order, Impact, and Legacy. Similarly to Maslow’s model, the needs that are lower down in the hierarchy must be satisfied before a business can attend to needs higher up.
The Fix This Next system will identify your business’s most vital need. This vital need must be fixed first before moving on to higher needs within the Business Hierarchy of Needs (the BHN), as outlined in the book. Mike explains how it works in this video…
So often, we need a guide to help us cut through the distractions, and to focus on the right next thing, so that we can level-up quickly and efficiently.
Lori Petersen, the founder of AccountSolve, is a trained and certified FTN Advisor. She will guide you through the FTN process, identify your vital need, and create a roadmap to move your business forward once and for all.
So many entrepreneurs show a profit at the end of the year, but wonder where all the money went. They work extremely hard, but don’t have enough to show for it. These hard-working folks are living day to day; week to week; checking their bank balance frequently. Cash flow is a nightmare.
>> Profit First to the rescue! <<
Profit First is a cash management system – much like your Grandma’s envelope system – created by business author Mike Michalowicz. He identified that the natural behavior of entrepreneurs is not that they regularly review their financial statements; rather, most business owners utilize “bank balance accounting”. They make gut-level decisions based on the cash in the bank. With the implementation of Profit First, entrepreneurs can continue this practice of checking their bank balance frequently, and leverage it to manage their cash and increase profitability. To understand how it works, watch the following video, an interview Mike did with MSNBC.
The Profit First system is a simple concept – but nuances – specifically industry nuances – can be tricky to navigate. Having a certified and experienced guide can make the difference between mediocre and stellar results.
Our team is trained and certified by the Profit First Professionals organization to guide business owners and entrepreneurs through the nuances of Profit First so that they can maximize profits. AccountSolve is one of the select few, globally, that are master certified in Profit First.