Kathi Lipp is back with Roger Lipp for part 2 of this series about how to use the Profit First system to manage finances. Last week the couple talked about how spreadsheets and envelopes were not good systems for Kathi’s writing and speaking ministry, and how thrilled they were to find the Profit First system. This week, Kathi explains how Profit First is perfect for creative businesspeople by forcing them to take a creative approach to their finances. Listen as the financially savvy duo explains the framework of the system, including the purpose of having five separate accounts:
- Income account
- Profit account
- Operating expenses
- Owner’s draw
If you are a creative entrepreneur that struggles with keeping money straight, you simply cannot miss this series. Tune in here to catch up on episode 1, and make sure you join in the next two weeks for episodes 3 and 4.
Meet Your Hosts
Author, Speaker, Communicator Academy Creator and CEO
Roger is a productivity and quality engineer for a Fortune 50 company.
Roger helps teams reach their full productivity potential by teaching them practical and simple steps to reach their goals. Roger and his wife, author Kathi Lipp, teach communicators how to share their message through social media and email marketing.
He and Kathi coauthored Happy Habits for Every Couple with Harvest House Publishers.
254 How to Handle Money for Creatives (and those who love them): Episode 4 – Who Are the People You Need to Make Your Finances Work?
Kathi Lipp and Roger Lipp explain who they have on their team to help them with their finances, and what the role of each person is.
253 How to Handle Money for Creatives (and those who love them): Episode 3 – How Kathi and Roger Have Set Up Their Business Finances
Kathi Lipp and Roger Lipp explain how their Profit First accounts are set up, and what percentage of their income goes in which account.
Kathi Lipp and Roger Lipp talk about the challenges of managing finances and introduce the concept of Profit First.