We’re doing a series to debunk some of the Profit First myths. Myths are not systems. You can’t have one foot in when implementing Profit First. You need to be all in.

We’ve talked about how some folks think you can simply set it and forget it, using a spreadsheet to manage your accounts, and how that is not a sustainable system. Here’s another myth: Profit First doesn’t work. Now, while I haven’t heard this a lot, there are some naysayers who feel this way.

To them, I ask, have you done it?

When someone says something doesn’t work, I ask them what their experience has been when they implemented it. Not because I am challenging them, but because I want to learn from their experience and improve upon my own systems to better serve others. The thing is, I haven’t met anyone who fully implemented Profit First and failed.

When I became an author, a few people approached me and told me I would never make any money from selling books. Most of those folks didn’t have the relevant experience to draw on, so that insight was, well, irrelevant. Had I listened to them and given up on my dream of writing, I wouldn’t be an author. And I would have given up on my dream of helping to eradicate entrepreneurial poverty.

Remember, naysayers aren’t usually the doers. If you have questions about implementing Profit First, click here for resources and contacts to make sure you’re on the right track.

I am wishing you tremendous success!

-Mike

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