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Knowledge is a Privilege
Stephen Edwards
November 19, 2024
Knowledge is a Privilege
Welcome to this week's Profit First Club newsletter!
Hello everyone,
This is Stephen Edwards from CTA, your dedicated Profit First Accountant, welcoming you to this week’s Profit First Club newsletter. If you’re joining us for the first time, a warm welcome! Each week, we cover Profit First essentials, but this newsletter is also about sharing valuable insights that can help you grow both your business and your life. It’s all interlinked, after all, and my goal is to provide you with practical advice that makes a tangible difference.
Here are my five insights for this week—let’s jump in
Watch It or read it…
Estimated Reading Time: About 4 minutes
1️⃣ A Small Step, A Big Vote for Your Future Self
Every action you take is a vote for the person you want to become. Whether it’s choosing to hit the gym, skipping dessert, or swapping TV time for a podcast, these small decisions compound over time to shape your identity. Ask yourself: what kind of business owner or person do you want to be? Every choice matters.
2️⃣ Knowledge is Wealth
We live in a world brimming with opportunities for learning—books, podcasts, and even movies offer invaluable lessons. A recent example: Gladiator 2 reminded me that education wasn’t always accessible. Today, it’s a privilege. Let’s not take it for granted. Use this era of abundant knowledge to your advantage—it’s one of the greatest forms of wealth.
3️⃣ The Four Stages of Learning
Learning is a journey:
Unconsciously Incompetent: You don’t know what you don’t know.
Consciously Incompetent: You realize what you lack.
Consciously Competent: You’re learning but need focus.
Unconsciously Competent: It becomes second nature.
In business, aim for unconscious competence by consistently practising and internalizing the lessons you learn.
4️⃣ Building Confidence: Collect Positive Feedback
Here’s a strategy: when someone says something good about you, write it down. I’ve started a section in my phone to track compliments, and it’s been a game-changer for confidence and self-awareness. Over time, this bank of positivity can remind you of your strengths and make you more referable as a business owner. Try it—it’s simple but powerful.
5️⃣ Grind When It’s Needed, Rest When It’s Time
Building a business is about balance. There are seasons to hustle and seasons to step back. My new book, How to Build a Business That Runs Without You, explores this balance. While you work hard to create freedom in your business, remember to plan intentional breaks—don’t let the grind consume you.
That’s it for this week’s insights. I hope you found these thoughts helpful. If you have any questions or would like to discuss anything in more depth, I’d love to chat. You’re welcome to book a meeting through the CTA website, though please note we’re fairly booked over the coming weeks as we onboard new clients.
Thank you for being a part of the Profit First Club. Here’s to a productive and fulfilling week ahead!
Profit First Bonus Session - Deep Dive Part 1
If you want to get more hands-on with profit first, I’ve got you covered this week. Here is the recording of a session I prepared last year, taking a deeper dive into profit first. It is the first session to lay the foundations and I will share some of the more advanced topics in future weeks.
Free Proactive Profit First Accounting Meeting
Book Your Free Meeting HERE
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If you are not a client then you can book a call HERE so we can learn more about your business.
If you are a client and we don’t already help you with Profit First, email me via [email protected] to arrange a chat about the Profit First System and how it can increase your cash balance and profits (guaranteed)
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