When Rocky Lalvani learned that most business owners don’t look at their financial reports he knew it was his purpose to help them be profitable. He shares the simple formula to pay yourself first and the banks accounts to use that makes accounting feel and work like entrepreneurs feel and work.
Highlights From This Episode:
- Why 80% of business owners don’t look at their financials and what to do about it
- The simple accounting formula that pays you first
- The 4 bank accounts that makes your accounting simple
- How to make tax time a bonus time
- Focusing on the bottom line can be the reward for your efforts and investments
Links & Resources From This Episode:
Hear More: Rocky’s Podcast ‘Profit Answer Man’
Read More: ‘Profit First’ by Mike Michalowicz
Learn More: http://www.profitcomesfirst.com
First 2 Chapters of Profit First
Quote: ‘The top line is your vanity. The bottom line is your sanity.’
’20 to 30% of a company is highly profitable, 40% of a company is unprofitable and the remainder is barely breaking even’ Jonathan Byrnes
More About Rocky Lalvani
Rocky Lalvani was shocked to learn most business owners don’t look at their financial reports! Can you believe that? It has to do with our mindsets around money and also fear and shame. When he realized how much of a problem this was he knew this was his purpose to help business owners be profitable.
Rocky serves as Chief Profitability officer for business owners. He teaches them how to ensure they get paid and they make profit a priority! As a certified Profit First Professional he implements Mike Michalowicz’s Profit First System. We change the accounting formula of Sales – Expenses = Profit to Sales – Profit = Expenses. This ensures Profit comes first! (PS. It’s not about money at all costs, people come before money!)
Rocky started with nothing when his parents immigrated to the United States when he was two years old, and his parents were in their 40’s. It was his parents’ second time starting over in life as they moved here to experience the American dream. In spite of a lot of struggles and his mom passing away when Rocky was 7, he has been able to achieve financial and life success. Rocky loves to share his journey and inspire others to achieve their dream even faster.
Awesome FREE Resources for YOU!
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Val Low is a focus & efficiency mentor & coach to entrepreneurs to clear the business clutter and thrive. Through her Focus&Freedom Method and Planner many entrepreneurs have experienced more focus, time and freedom.
Val loves nothing better than showing entrepreneurs how to calm the overwhelm and distractions with focus and efficiency strategies and tools that enable them to have the freedom to do the things that matte most in their business and life.
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