Profit First Implementation and Guidance

You have an established business, and you are working hard in it.  You’re generating income, but it never seems to be enough to pay everything.  You’re not paying yourself well enough, or your staff are earning more than you are.  And you are starting to wonder why you are spending all this time in your business, for so little reward. Your loved ones are wondering the same thing.

But let’s think about it. 

Most of us were never taught how to manage money, let alone how to manage money in a business.  It isn’t enough to decide you deserve it or open your mind to allowing money into your life – you need practical, easy to use tools to help you do it.

Imagine what it would feel like if you could pay yourself what you need for your lifestyle, the same regular amount every time.  Wouldn’t that make managing the home finances easier?

And imagine knowing you have money set aside to pay your taxes, and you no longer need to spend time working out which of your suppliers you need to pay first, and which you can leave until later, because you can pay them all now.

And imagine giving yourself a bonus every quarter, while at the same time building a buffer of funds that you can use to get you through, if ever disaster strikes.

All of the above is what Profit First can do for you!

Working with Caroline

Profit First is THE best way to unlock more cashflow, profitability and money freedom in your business. Used by thousands of business owners around the world, it’s changed the lives of many. Including my clients.

However, one look at the Profit First book and it can be incredibly overwhelming and confusing – especially if you already have an established business and have just been flying by the seat of your pants getting that BAS in on time.

That is where I come in – Profit First accredited, Xero professional and 30 years’ experience working with 100s of businesses to streamline their bookkeeping and find more money using Profit First.

Option 1 - The Power Hour

The most common question I get asked is “What are my percentages?”. 

If you are a DIYer and have read the Profit First book, but feel you need a little more help, then The Power Hour is designed for you. It is the kick start you need for your DIY Profit First Journey and can make a significant difference to your clarity, confidence and the future success of you using Profit First in your business.

Included in The Power Hour you will receive 

  • pre-call homework, where you are guided to find the numbers you will need for our hour together on a recorded zoom call
  • during your personalised Zoom call we work out your individual Profit First strategy, including your percentages and ongoing plan. Based on your numbers, we will work out your priorities and you can ask any specific questions you have
  • after this session, you will feel confident to implement Profit First and move towards having a sustainably profitable business that pays you what you need and desire for the lifestyle you want to live
  • in addition there is email support for 30 days and you can have a 20 minute follow up call within the 30 day period

Please book at least a week in advance, to allow time to prepare.

Option 2 - The Super Power Hour

For those that want additional ongoing support, this is the ideal solution. 

You will receive everything included in the Profit First Power Hour and

  • ongoing email support for an additional 60 days so you truly feel guided as you move forward with implementation
  • two additional 20 minute follow up calls to be taken at any time in the 90 days from the initial call. These are ideal for those more complex questions you may have where you know talking it through is going to be most helpful
  • this will ensure you have support at the end of the quarter, when it is time to take your Profit Distribution and adjust your percentages.  With support to do this the first time, you will be more comfortable and confident on your DIY Profit First journey

Option 3 - The Profit Success Pathway

This is 1-1 strategy and support for implementing Profit First the right way.
(Jargon explained – I promise!)

Here’s how it will work:

Step 1: Understand your goals
Together we gain an understanding of your goals and priorities for your business. Next we determine what you need to earn in your business to provide you the income for the lifestyle you desire.  This helps you focus your attention on what is important to you and allows us to customise the process to achieve your goals.

Step 2: Profit First Assessment
This is where I do a deep dive into your bookkeeping software assessing your current situation.  This sets the baseline for your Profit First journey and guides the implementation process.  You will benefit from seeing clearly where you are now in relation to your goals.  You will receive a report that you can refer to and see how far you have come as your journey progresses. This provides clarity and can build your confidence as you see how valuable Profit First is.

Step 3: Planning
I’ll develop a custom plan to achieve your goals, at a pace that suits you.  You’ll benefit from knowing what you need to do, and when (for that needed accountability).  This plan can be adapted as needed as the implementation proceeds.

Step 4: Implementation
This is where we put it all into practice. You work your way through the plan and easy to follow checklists, with support and guidance available when you need it. You benefit by being able to ask questions specific to your needs. If you have Xero, I can setup your system to make this super easy for you to follow and get the reports you need to stay on track.

Step 5: Review and Refine

This is where the magic happens! Opening bank accounts and moving money between them won’t necessarily achieve your goals. So often I see clients making great progress with the initial steps and then something happens and they, or the process they are trying to follow doesn’t come together. The interruption comes from believing you have finished implementation and therefore it is now a set and forget process. Profit First is not a set and forget experience. It is a living process in your business and requires reviewing and refining on an ongoing basis to ensure it is working for you and your business.

In step 5 we work together so you understand how to review and refine and can truly benefit from Profit First for the long term.  This is where you review the results, celebrate your success and determine the next most important step to take on your Profit Success Pathway. It is an ongoing journey, and the path will change as your goals change.

Here’s what you achieve:

At the end of your package, you will have implemented Profit First and have developed the habits you need to continue with your journey.  You will feel comfortable doing your distributions, according to your unique plan.  You will know what steps you need to take and what your priorities are.

Further ongoing support and guidance is available if you desire.

Choose your pathway

Implement – 3 Months

For you if you simply want to get it implemented, and then continue on your own.


  • Initial Profit First planning call
  • Fortnightly profitability progress calls
  • What’s next call to support you to move forward on your own
  • Email support between calls (you will receive a reply from me within 2 working days)

Quarterly Review – 12 Months

For you if you want to have support along the journey and ensure you make the adjustments required to achieve your goals.


  • Everything in the Implement option
  • Quarterly review calls to support you to keep on track, feeling confident and making the most of the momentum you are creating
  • Email support between calls (you will receive a reply from me within 2 working days)

Money Mentoring and Cashflow – 12 Months

For you if you want to receive mentoring and guidance for all parts of the Profit First implementation journey.


  • Everything in the Quarterly Review option
  • Cashflow forecasting the Profit First way so you can predict what you potential cash changes will look like moving forward. This is essential for making smart, profit focused decisions
  • Email support between calls (you will receive a reply from me within 2 working days)

Pricing is dependent on the size and complexity of your business. The ideal action to take is to book a call to discuss your requirements and identify the ideal solution for you and your business.


Caroline is just amazing!

Her knowledge goes far beyond what I had hoped for when looking for someone to help me implement systems in my business to make it run smoother.

Financials are not my favourite thing but I know they’re so darn important.

Caroline’s ability to explain things to me in a practical and easy to understand manner was greatly appreciated. Then to explain how the system I was interested in – Profit First, would help find and leverage the profits in my business and was so valuable.

Thank you Caroline. A massive weight has come off my shoulders and I’m excited about my numbers. Woo hoo!

Nat Wright – Verissima Health

Before I discovered Profit First, when my clients asked for help to them become more profitable, I based my answers on my knowledge of their business from me being their bookkeeper. But that meant I could only help a few people and my approach wasn’t consistent.

When I came across “Profit First”, the book by Mike Michalowicz, I couldn’t put it down until I finished. Here was a method to help my clients become profitable, using simple, repeatable, small steps that would gradually move them in the right direction, without being scary or overwhelming.

I signed up with Profit First Australia to learn more about the Profit First system and I am now a Certified Profit First Professional. As such, I have tools that help me analyse your business without needing to have worked with you for years and I can help you identify the key areas to change to improve your profitability.

So how does it work? Very simply, we look at how much money is coming in and where it is going. We work out how much of your income you need for each purpose, then open bank accounts for each purpose, and transfer the money for each purpose to the corresponding bank account.

Then the magic happens! Before Profit First, when you look into your bank account to see if you can afford that bright new shiny object that costs $5,000, you see you have $20,000 so you think it is ok. With Profit First, you look into your Operating Expenses account and see you only have $6,000, because the rest of the money has been allocated to other purposes.

Not such an easy decision now! Time to think if you really need that object, do you have something already that will do the job, or is there something else you could buy which wouldn’t swallow so much cash.

And guess what? Those purposes we are putting money aside for include paying your suppliers and your taxes, but most importantly, it includes paying you for the work you do for you business. The goal is to pay you what you would have to pay an employee to do what you do. After all, you are the most important employee in your business. And then there’s Profit – you are the owner/shareholder of your business and you deserve a Profit Distribution for taking the risk of running a business.

Why is it called “Profit First”? 

That’s because we change the usual accounting equation to put Profit First. Most people work on the equation:

Income – Expenses = Profit

That means you earn your money, you spend your money and what is left is your Profit. Except for that number at the bottom of the report isn’t in your bank account. And because Expenses come first, you focus more on them. Profit is an afterthought.

So let’s change the equation:

Income – Profit = Expenses

With this equation, Profit comes first, and then expenses have to fit into what is left. And that’s real Cash Profit, not a number on a report because we have set aside a percentage of income for it. Changes are made one percentage point at a time, so you hardly notice the reduction in expenses. Until you get your first Profit Distribution! My first Profit Distribution was around $50 – it’s a lot more than that now!