Profit First by Mike Michalowicz

Author:Mike Michalowicz
Language: eng
Format: mobi
Publisher: Penguin Random House LLC
Published: 2017-01-12T10:16:21+00:00

Step One: Deposit all revenue into your INCOME account.

Step Two: Every tenth and twenty-fifth day of the month, transfer the total deposits from the prior two weeks to each of your “small plate” accounts based on your CAPs and add it to any money (if any) that is already in there. For example, let’s say you have $10,000 in total deposits for the past two weeks. Based on the following example percentages, here’s how you would allocate the $10,000:

INCOME *8855 → This account, which had the $10,000, goes to $0 as all the money gets allocated.

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