After launching his new book “Profit First for Real Estate Investing”, I had a chance to talk with author David Richter about the book. While most of our eyes glaze over when someone even mentions ‘accounting' or ‘financial statement', David and his company Simple CFO specialize in taking the mystery out of your business' finances and give you control over your cash flow. While that might sound pretty abstract, think about how much better you'll sleep at night when you know your business is operating financially sound. We cover topics like:
- How big of a company needs to worry about Profit First?
- The most common mistake investors make in their finances
- The curse of entrepreneurship
- The worst way to setup your business bank accounts (cash salad)
- The 5 Core Bank Accounts (Golden Trio, OpEx, Income)
- The simple way to get started with the Profit First system