Profit First

When I was in college I read “The Richest Man in Babylon” by George S. Clason.  To this date it is the best personal finance book I’ve ever read.  I realized after reading this book that all I ever needed to know about money was contained in its pages.  The two biggest keys I’ve learned and applied from this book are

Pay Yourself First

Spend Less Than You Make

I started my accounting practice in July 2008.  The first two years 2008 and 2009 my business were unprofitable.  I was frustrated and I knew I had to change things.  I started my business to make money and I wasn’t making money.  I was pouring my savings into my business.  I had an epiphany “Of course I’m losing money because I’m not paying myself first.”

In July 2010 I set up a separate business checking account. I named this my Damon checking account.  This bank account was my pay yourself first bank account.  With every deposit, I moved 10% of the deposit into my Damon checking account.  The Damon checking account became sacred for me.  This was my money.  This was the reward I was giving myself for the long hours, blood, sweat and tears I was pouring into my business.  My business did not get to touch the money in the Damon account.  My business would have to live on the money that was left over.  As a business owner this was the best financial decision I made in my business.  It was a major key to turning my unprofitable business into my profitable business.

Profit First takes the simple rules Pay Yourself First and Spend Less than You Make and applies it to your business.  Profit First is a cash management system.  I am trained and certified by the Profit First Professionals organization to guide business owners and entrepreneurs in maximizing profits.

My firm is one of the select few, nationwide, that have received a certification in Profit First. What does this mean for you? I will guide you with the methods to greatly increase the profitability of your business.  I provide the most important financial factor – maximizing your profits.

As they say, the proof is in the pudding. Request a Discovery Meeting for a free profit maximizer session.  I’ll assess where you stand now, and give you actions that you can immediately use to grow your profits.  The service is completely free! Why? Because I am confident you will be so impressed by what I can do for you, you will want to work with me going forward.

Testimonials

  • We started our residential real estate business and brought Damon on as our principal adviser for all matters relating to taxes & accounting. We have doubled our business each year and Damon is a critical partner that has allowed us to successfully focus on our business.

    – Dan and Rachel Kendall
    Owners, The Rachel Kendall Team, LLC - Raleigh, NC
  • Damon Yudichak is a diligent and consistent professional. I’ve worked with Damon since 2009 and I’ve felt like a valued customer since the beginning of our relationship. His firm is consistent, courteous, and knowledgeable. He and his firm are a vital link to my business.

    – Al Sullivan, President
    Inspirus Consulting, Inc. – Cary, NC
  • Owning a small business… to me, it’s worth millions! Bringing Damon on for accounting and tax purposes… just a reasonable monthly fee! Keeping our business legal and my business partner sane… PRICELESS!

    – Tonya Baskerville, Owner
    Art on the Fridge, LLC – Raleigh, NC

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