Why Profit First is Non-Negotiable for Your Real Estate Business
May 03, 2024EPISODE 474: Do you ever find yourself overwhelmed by the sheer amount of work you need to do to manage and keep track of your company’s finances? Then you might want to check out this episode! Why? Simply because in it, we discuss the one tool you need to enhance financial management and resilience in this uncertain market as a real estate investor.
This tool, by Relay, is called “Profit First” and it is the best strategy to implement if you want to increase your profitability and keep yourself prepared for the unexpected. And to discuss this in more depth, we’ve brought in an expert, the brilliant Deanna Zubrickas. Deanna works directly with Relay’s partners, accountants, and bookkeepers, helping them deliver superior business banking to their clients.
She is a certified Profit First professional and the go-to product expert for business banking solutions and banking integrations with accounting software. Before making the move into financial technology, Deanna supervised retail operations and managed customer relations at a number of enterprise and mid-sized retail brands, including OAK + FORT, Free People, and Urban Outfitters.
In this episode, Deanna will be sharing everything you need to know about the Profit First methodology as well as discussing the importance of starting small, why you should shift your mindset towards prioritizing your financial well-being, the common challenges that come with implementing Profit First, and more. Are you ready? Let’s dive in!
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Key Takeaways:
Introduction (00:00)
What is Profit First? (00:39)
How to plan for the unexpected (07:18)
Is your mindset holding you back? (12:14)
The benefits of Profit First (15:55)
The challenges of Profit First (24:31)
How to connect with Deanna (31:31)
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Additional Resources:
✨ With Relay, you can open a business bank account for your property 100% online from anywhere. No monthly fees or minimums, and it only takes 10 minutes to sign up. Head to https://lets.bankwithrelay.com/investher for stress-free banking.
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✨ Connect with Deanna
Follow Relay on Instagram: / bankwithrelay
Follow Relay on Facebook: / bankwithrelay
Learn more about Relay: https://relayfi.com/
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