The Health of a Business - Deepstash
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The Health of a Business

A great business is one that has healthy profits. And as business gets healthier, taxes will increase.

Profitability isn’t an event. It’s a habit. Profitable habits practiced consistently cause a company to be financially healthy. Forming the right business habits from scratch prevents you from forming bad habits that can be difficult to break in the long run.

91

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MORE IDEAS ON THIS

Accountability Groups

The benefits of accountability groups:

  • Having accountability partners can make a potentially challenging experience bearable
  • Enforcing a plan or a system with others ensures that you are more likely to do your part
  • When you regularly meet with an accountability group, y...

89

318 reads

MIKE MICHALOWICZ

Innovation in business and efficiency comes from big, bold questions.

MIKE MICHALOWICZ

86

515 reads

Money and Efficiency

  • 95% of your company’s profitability depends on what goes on beneath the surface (after the sales), and not the sales themselves.
  • Serve your clients with the same or very similar problems, using your one consistent solution to solve the problems.
  • The key to being efficient is ...

95

386 reads

Tackling Debt

  • Paying yourself should always be your priority even if you’re in debt.
  • Practice the one more day technique. Hold off on purchasing something and test how much you need it. You’ll feel rewarded when you see yourself saving more by going without certain items.
  • Modern-day succes...

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455 reads

The Profit First Diet

The Profit First Diet

  • Use small plates: When money comes into your main operating account, immediately dispense it into different accounts in predetermined percentages for profit, owner pay, taxes and, consistently operating expenses
  • Serve sequentially: Always move your m...

98

807 reads

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