On this episode we talk with Tess Wicks and discuss how Profit First can be applied to start-up businesses. A lot of businesses start up and believe they have to put all of their money back into the business until one day it can be profitable. Tess Wicks tells us something totally the opposite. She says a start-up business needs to be profitable from the very first moment. If you’re making a hobby into a business or deciding to go all in from the get-go, Tess walks you through all the steps to ensure profitability from day one and forever more.Welcome to Episode 132 of the Profit First Podcast!
Tess is the Backpocket CFO for small businesses and online entrepreneurs. She is the founder of her financial consultancy, Creative Profit Co. where she shows business owners that they’re never too small to think big about business. Creative Profit Co. works with their clients to implement the processes and systems that will make them the most profitable, Profit First being one of them. Tess is an actuary by trade and comes from the consulting world, helping Fortune 500 companies save money through analyzing their benefits. After one-too-many 2 AM “data parties”, Tess packed up her calculators and dove headfirst into the risky world of entrepreneurship. Through tinkering in software, content marketing, building a media company and personal finance coaching business, Tess found herself back in an ironically similar financial consultant role; however, this time she’s using her financial know-how and analytical powers to help her fellow entrepreneurs grow a sustainable business and finally make the profit they deserve.
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
Xero– Accounting software with all the time-saving tools you need to grow your business. Xero is always secure and reliable and our experts are here to support you 24/7.