Can I Still Use Credit Cards, Loans and Investment if I implement Profit First?
Can I Still Use Credit Cards, Loans and Investment if I implement Profit First?
Yes! IF you are someone who loves credit card points and wants to pay operating costs with your card and pay it off every month, do it!
If you’ve built a financially efficient business and can see exactly where and how investment or loan money will help you grow top and bottom line numbers do it!
Again, Profit First is a framework and a cash management strategy. When you Know Your Numbers and are informed about the financial decisions that you are making, you can do whatever you think is right for you and your business.
What I don’t recommend is seeking a loan, line of credit or funding for a business that is NOT set up for financial sustainability - where you don’t know the exact impact and outcomes of utilizing those funds or how you’ll pay them back.
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About the Author: Sarah Delevan is a Profit First Certified Food Business Financial Consultant and Coach with over 8 years of food industry experience. She received her MBA from Rollins College, and In 2017 she founded Sarah Delevan Consulting based in Los Angeles, CA and serving clients across the United States. She is the creator of the Financial Success Formula and the founder of the Profitable Food Business program as well as the host of The Good Food CFO Podcast. To learn more about Sarah and opportunities to grow a more profitable food business Click Here.