Weekly Profit Boost - Don't Ignore The Smoke Alarms!

Don't Ignore The Smoke Alarms

Welcome to this week's Profit First Club newsletter! 

Hey everyone! This week, I’ve put together some thoughts on things that have helped me navigate the ups and downs of business and life. We’ll start with a Profit First tip that’s like a “business smoke alarm” for spotting cash flow issues early. I’ll also dive into why I’ve embraced simple wellness practices (yes, including cold baths!), share my take on the whole “5 AM Club” trend, and talk about the power of mini-retirements to keep things fresh. Finally, a reminder to roll with the peaks and valleys of business – we all know it’s not a straight path! Let’s get into it.

Estimated Reading Time: About 4 minutes

1️⃣ Profit First Tip: Smoke Alarms

My first one is a Profit First tip. It’s a fundamental but slightly more advanced tip that a lot of people aren't aware of. It's like a smoke alarm going off before the fire in your business; it allows you to identify obstacles and challenges much earlier than you otherwise would. It puts the spotlight on challenges far sooner, so you can address them because the system highlights these challenges at least six months before you actually face major cash flow issues, and it forces you to be on top of your game.

2️⃣ Cold Baths are Not Magic:

The second one is around cold baths. I’m also going to include saunas here. I’m interested in these because I care about the holistic side of being a business owner, not just the business tactics and strategy. We are the most important person in our business, so we need to look after ourselves. Now, I’m not a big believer in silver bullets; cold baths are great, and I go to the sauna four times a week, as data suggests it can reduce your cardiovascular risks by 54% when done properly. There's less data on cold baths, but regardless, the main point is that fundamentals are what matter most. So, just focus on the basics: exercise, eat well, avoid alcohol, hydrate, and surround yourself with people who energize you. You’ll get more progress from these fundamentals.

3️⃣ The Myth of the 5:00 AM Club:

The third point is about the 5:00 AM Club. I don’t have anything against people who want to get up early—I’d like to get up a bit earlier myself. But it’s not about what time you get up; it’s about what you do with your time. You could wake up at 3 AM every day and still be a busy fool. It’s about making sure you focus on the most important tasks or projects that drive your business forward. If that happens in the morning, great. If not, that’s okay too..

4️⃣ Mini-Retirements:

My fourth point is the concept of mini-retirements. Tim Ferriss talked about this in The 4-Hour Workweek over a decade ago, and it inspired me to take a month off from my business in 2023. Many business owners focus on more growth, but retirement doesn’t have to be something far off in the future. Why not take mini-breaks now, when you’re fit and healthy, to do things you love? For me, it was a month in Florida, but it could mean anything to you: traveling Europe, staying home, or going to Cornwall. We should think differently as business owners, finding ways to recharge and renew, often returning stronger.

5️⃣ Peaks and Valleys:

My final point is about peaks and valleys. There’s a book by Spencer Johnson, who wrote Who Moved My Cheese?, and it's fantastic. Life and business are full of peaks and valleys; it’s not just a straight incline. When you’re in a valley, learn from it, and when you’re in a peak, don’t take it for granted. It’s like the saying: ‘In winter, prepare for summer, and in summer, prepare for winter.’ Going with the flow of these peaks and valleys can help us mentally manage as business owners. I highly recommend the book; it’s a transformative way of thinking.

Free Profit Review

Want to see if there’s money left on the table in your business? I just helped a client find £86,000 worth of long-term profit! Book a free Profit Review with me, and let’s see what we can uncover for your business. Whether it’s £20,000 or more in the next 18 months, I’ll help you get there.

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Example of the money on the table

Want some help?

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