Turn Profit Into a Habit: Why You Need the Profit First System with Shannon Simmons

In this episode of The Next Step Podcast, host Alison Leigh Simmons sits down with Shannon Simmons, a certified Profit First professional, to discuss a game-changing approach to managing business finances.

Shannon shares her own journey with money mindset and dives into the practical steps of implementing the Profit First system. This interview offers a fresh perspective on paying yourself first as a business owner and setting up your business for long-term profitability.

You won’t want to miss Alison’s reaction when she realizes the subtle yet powerful shift that Profit First can create!

Topics We Cover:

• Mindset Shift on Profit: Shannon emphasizes the importance of paying yourself first and treating profit as a bonus, not just “leftover money.” Shifting your mindset around this can immediately change how you view your business finances.

• Separate Bank Accounts for Clarity: The Profit First system uses multiple bank accounts to allocate funds for specific purposes, ensuring that every dollar is accounted for. This structure can reduce stress and increase financial clarity.

• Owner’s Pay vs. Profit: There’s a difference between the money you take as salary (Owner’s Pay) and your profit distribution. Profit is a reward for business success, while Owner’s Pay covers your personal living expenses.

• Addressing Money Mindset Issues: Shannon opens up about how negative money conversations from her childhood impacted her mindset. This personal story highlights how early money experiences can shape our financial habits.

• Small Steps First: Start by opening just one new account and allocate a small percentage of every deposit—1%—to begin building the habit of setting aside profit.

• Dealing with Debt: For business owners with debt, Shannon advises splitting profit distributions to include debt payments, savings, and a small personal reward, so you balance debt reduction with maintaining a safety net.

• Accountability and Support: Having a certified Profit First professional can provide the support needed to stay on track, troubleshoot challenges, and help navigate unexpected financial setbacks.

This episode is packed with actionable advice to help business owners create a strategic, sustainable plan for their finances using the Profit First system. Implementing even one small step can transform how you view and manage your business funds. Tune in to learn how taking control of your money today can help you build a thriving, profitable business for the future.

Ready to start paying yourself first? Listen to the full episode now and take your first steps toward a more profitable business strategy!

Connect With Shannon:

https://fitforprofit.com/

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Welcome to another powerful episode of The Next Step Podcast! This week, I'm sharing an intimate and inspiring live interview I did with my business coach, Michelle Vroom, inside her Facebook group, Market Like a Boss. In this conversation, you'll hear how I went from making $2,500 per month to hitting $10,000 months, all while running my business on the road with my family. If you’re feeling stuck and frustrated, listen in to hear how I worked through those challenges and learned to create a sustainable, thriving business. Trust me, there's a pivotal moment where everything clicked for me—and it can for you too!

Topics We Cover:

• The Power of Mindset: Alison discusses how shifting her mindset and documenting her "evidence" of success helped her move past mental blocks and gain the confidence needed to scale her business.

• Embracing Strategic Action: Consistency was key! Taking strategic action—even when results didn’t show up immediately—was what eventually led to growth and clarity.

• Clearing the Clutter: Alison talks about learning to say "no" to non-essential tasks and how simplifying her calendar helped her regain focus and energy in her business.

• The Role of Coaching: Alison’s journey highlights the importance of accountability and how her willingness to accept coaching led to significant breakthroughs. If you think you can do it alone, Alison’s story will remind you that no one reaches their full potential in isolation.

• Community Support: Alison credits much of her success to the encouragement and support she received from her coaching community, emphasizing the importance of having a tribe that understands the entrepreneurial journey.

This episode will leave you feeling inspired and ready to take action in your own business. If you’ve been stuck on that plateau, unsure of how to hit your next big milestone, listen in to discover how you can apply these lessons to your own journey. You’ll walk away with practical steps on how to simplify your business, shift your mindset, and start making strategic moves to hit your next income goal.

Don’t forget to visit alisonleighsimmons.com/resources to access the Business Management Toolkit and download resources tailored to the stage of your business! Let’s do this, guys—together, we’ll take your business to the next level!

Hey friends! Welcome to Season 3 of The Next Step Podcast! I’m so excited to kick off this season with a topic that’s been on my heart: How can we be our own boss better? In this episode, I get real about the four key actions I took that helped me go from $2,500 a month to $10K without adding more clients. If you’ve been feeling overwhelmed by the day-to-day grind in your business, trust me, you’ll want to tune in to hear how I made this shift. Plus, there’s a moment when I realized I’ve actually become my own ideal client—yeah, that happened!

I Cover:

• Set Clear Goals for Income & Clients - I set a goal of hitting $10K a month without adding more clients, and that clarity made all the difference.

• Adjust Your Offer to Reflect Your Value- I shifted from calling myself an OBM to a Business Manager and Strategy Implementor—and, guess what? My offer became so much clearer to potential clients.

• Tweak Your Messaging- Once I had the right title and offer, I made sure my messaging reflected it, which led to more people saying, “I want to work with you.”

• Network Like a Pro- I did tons of coffee chats and networking, and those conversations not only helped me refine my offer but also brought in clients.

• Sustain Your Success - I break down the four phases I guide my clients through: Establish, Scale, Optimize, and Sustain. I’m right in the ‘Sustain’ phase myself!

By the end of this episode, I hope you’ll walk away with practical steps you can take to become a better boss for yourself and scale your business without getting bogged down in the daily tasks.

Ready to take that next step? Let’s chat about how we can make it happen together. Don’t forget to check out the business management toolkit and other free resources I’ve put together to help you along the way!

Let’s do this!