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Why You Shouldn't Attempt Profit First Alone

March 19th, 2019 | 3 min. read

By Matt Patrick

In 1933, a Detroit radio station introduced a man who quickly captivated the hearts and minds of millions of people around the world. Before long, he was the star of a regular radio show, books, television, movies, and even comic books.

And he did it all without ever really telling anyone who he was…or fully showing his face. A strip of fabric cut from his slain brother’s vest kept his identity a secret for decades.

If you’re wondering “who was that masked man?” you’re not alone. In fact, that question was asked at the end of nearly every episode as our hero rode off into the sunset with a hearty “Hi Yo, Silver! Away!”

He was the Lone Ranger then, and he is an American cultural icon today.

Debunking he Myth That the Lone Ranger Was Alone

The Lone Ranger not only tamed the West, he went on to become a meme that represents anyone who chooses to do something without any help.

But that myth doesn’t really work…because let’s face it, The Lone Ranger wasn’t actually alone! His trusty sidekick, Tonto, was with him everywhere he went.

“Ok, Matt…this is a fascinating trip down memory lane and late-night television, but what does this have to do with me?

Glad you asked.

The main reason you and I need to lose a Lone Ranger mentality is that going it alone will never get you to where you want to go in life or in business. “No man is an island” and “no one can whistle a symphony.” We need others to really make things happen.

The Power of A Profit First Partner

We all do poorly when separated from community and accountability—hello, stressed out solopreneurs! And since we’ve been exploring how Profit First can revolutionize your small business finances, let’s talk about how it a great guide can really help you win.

You can go back and read these posts if you missed anything so far:

By now, if you’ve followed this series, you’re hopefully starting to understand the incredible value of applying Profit First to your business.

The danger of Profit First, however, is that idea is so simple to understand and implement that it’s easy to read the blog posts, get the book, and just dive in all by yourself, but never realize its full potential.

If your only accountability is to yourself, the odds are you will eventually quit. As with most things in life, if you want to go the distance, you need a coach, a guide, or a trusty sidekick to go through it with you. And a good one will be profitable to you in the end.

  • Fitness coaches motivate us to get up and get to the gym.
  • Counselors help us sort out difficult life experiences.
  • Executive coaches help us take our businesses to the next level.
  • Football coaches give our team someone to fire at the end of a losing season.

Profit First works to increase the profitability of accountability if you have a guide by your side.

When you work with an certified accountant to implement Profit First, you get the best of both worlds–someone on board with your new way of doing things who is also really good at tracking your finances. They can help you stay on target and get your numbers where they need to be.

A Profit First Professional can help you:

  • Discover more money in your bank account on your very next deposit
  • Focus on your business by keeping an eye on Profit First bookkeeping, taxes, and accounts for you
  • Protect your business from costly financial mistakes
  • Pay yourself instead of only watching your money go to everyone else
  • Finally get your life back

Want more? Check out another post I did on the topic: How Your Bookkeeper Can Help Your Small Business Be More Profitable.

Patrick Accounting has recently become a certified Profit First firm. That’s how much we believe in it. We’ve seen it transform the finances of several small businesses, and we’d love the chance to guide you to the same simplicity, profitability, and freedom they now enjoy.

And when you’re ready to start seeing real profits, contact us online or call our Memphis (901-755-5858) or Little Rock (501-834-5757) teams.