Level 4: Profit AutopilotScott Williams
Start with a focus on profit first and not only take out a profit but a wage as well.
With YOUR specific issue in mind, select the area below that best fits.
NOTE: Profit Autopilot is part of the Skills Module 1 month sprints
Signup for the Skills Module now
Failing to make a Profit, or incorrectly accounting for cash leading to a lack of money to pay debts and tax liability, are among the largest contributors to Business failure.
Profit Autopilot turns conventional accounting on its head by starting with a focus on profit first.
It also introduces a simple set of “Piggy Banks” that give you a “set and forget” approach. When tax and other expenses become due you have sufficient funds to pay.
And, along the way, you take out, not only a Wage, but a Profit as well.
Articles within Profit Autopilot:
- Profit Autopilot Introduction:
Read this introduction to the Skills Module to learn how to turn the traditional approach to measuring a Profit: INCOME – EXPENSES = PROFIT – on its head.
Our revised accounting equation, under the Profit Autopilot system, becomes: INCOME – SALARY – PROFIT = OPERATING EXPENSES
- Profit Focused Business Model:
Will show you how:
Just 7 numbers will let you be confident of achieving the Profit and personal Salary you desire.
To reduce one of the major causes of stress in smaller businesses – “will I make a Profit and will I be able to pay my bills”?
- Profit Focused Business Model Video 1
Shows how you can quickly decide if your business will provide you with the Profit and Salary that you want.
- Profit Focused Business Model Video 2
Second part of the video series on how to tune your business once you have an indication of what you need to work on.
- Profit “Piggy Banks”:
You have learned how:
To be reasonably confident of making a predicted Profit and paying yourselves a Salary.
To be confident that you will have sufficient money to pay your Tax and at least break even at the end of the year.
This assumes that you have amazing willpower and do not spend the money that is ear-marked for Profit on something else.
Profit “Piggy Banks” makes sure that you get this willpower automatically.
- Profit Autopilot Wrap-up and What’s Next:
You will know how to be confident that your business will produce the Profit and Salary you “Desire”.
You have learned how to have sufficient cash available when payments have to be made.
These will enormously reduce the stress you face as a business operator and make the whole experience a bit more comfortable.