After 10 years of Profit First changing businesses worldwide, and nearly a decade of helping tradies implement it, I know this system works. But I also know it doesn’t always go smoothly. Whatever your reason, I want to hear about it.Tell me your story. Why? Because your feedback helps me improve the way I teach Profit First, update my resources, and make sure more tradies can actually get results. In this episode of Profit First for Tradies, you’ll learn the following:Common reasons Profit First fails (01:30)Why I wants to hear about your Profit First struggles (03:07)Are you building the business you dreamed of? (04:33)Reach out and get a special bonus (06:03)This episode is all about YOU. If Profit First hasn’t worked in your business, I want to hear why. Your feedback makes a difference — not just for you, but for the entire trade business community.Let’s make your business permanently profitable!Resourceshttps://www.profitfirstfortradies.com.au/book-a-call CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Your business is making money, but where’s your profit? Let’s fix that.Today, we’re diving into Profit First, a cash flow system that ensures you actually keep more of what you earn. Forget paper profit that only looks good on reports. This is about real, tangible, cash-in-the-bank profit.You’ll learn how to flip the traditional accounting formula, structure your money in a way that ensures profitability, and finally escape the exhausting cycle of making money but never seeing any of it. Plus, Katie will break down exactly how to get started with Profit First without overcomplicating it.This episode is a must-listen for business owners who want less stress, more clarity, and a guaranteed way to get paid.In this episode of Profit First for Tradies, you’ll learn the following:How Profit First helps you finally see and keep the money you’re making (00:00)Cash flow struggles business owners face (00:52)How to start building a truly profitable business with just 1% (02:39)How simple habits help you plug the leaks in your business finances and ensure you always have profit set aside (06:30)The value of starting small and being consistent with Profit First (07:13)Getting in touch with Katie (09:40)Profit First isn’t just another accounting method. It’s a mindset shift. It’s about prioritising your financial success so that your business truly supports you. If you’re ready to stop stressing about money and start actually keeping what you earn, this is your first step. Resourceshttps://www.profitfirstfortradies.com.au/book-a-call CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Profit First is powerful, but only if you set it up right. Let’s fix that.So you’ve heard all the hype about Profit First and about how it transforms businesses and makes financial stress a thing of the past. So why hasn’t it worked for you? You’ve tried, you’ve shifted money around, you’ve followed the book, but somehow, it just isn’t clicking.The thing is, Profit First is a simple framework, but it isn’t necessarily easy. And if it’s not customised to your business, it won’t work the way it should. That’s where a Certified Profit First Professional comes in. Someone who’s trained, tested, and continuously improving their ability to make Profit First work for real businesses in real industries.In this episode, we break down why Profit First might not be working for you, how to adjust your system for success, and why getting expert guidance could be the best move for your business. In this episode of Profit First for Tradies, you’ll learn the following:Why treating Profit First like a DIY project can leave you with more confusion than clarity (00:15)Why working with a certified Profit First professional matters (01:03) Common pitfalls when you DIY Profit First (02:31)Why a customised framework and expert guidance can make all the difference in getting real financial results (03:17)The 3 biggest benefits of getting expert help (05:03)The fast-track to making Profit First ]work for you (07:33)You don’t have to struggle with Profit First alone. With the right setup, guidance, and a system that actually fits your business, you can finally see the financial transformation you’ve been hoping for. Resourceshttps://www.profitfirstfortradies.com.au/book-a-call CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Waiting for the perfect moment to fix your finances is the fastest way to make them worse. Here’s what to do instead.In this episode, Katie breaks down the biggest myths stopping business owners from taking control of their finances and why getting started now, even if everything feels like a mess, is the smartest move you can make. You’ll hear why waiting only makes things worse, simple steps you can take today (even if you’re overwhelmed), and why just 15 minutes a week can change everything for your business.If your finances feel like a black hole of stress, this episode is exactly what you need.In this episode of Profit First for Tradies, you’ll learn the following:Why perfection isn’t required to get started (just start!) (00:47)Why starting now, even in chaos, makes everything easier (01:39)Making managing your money a 15-minute habit (03:25)Three simple steps to take control of your cash flow (04:20)What to do right now to start fixing your finances (07:19)The best time to take control of your finances isn’t when things settle down. It’s now. No matter how chaotic your business feels, small steps today can prevent big problems tomorrow. Remember, you don’t have to do this alone. Together, let’s make your money work for you, starting today. CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Another new year, another cash flow headache? If you’ve been putting off Profit First because you think you don’t have the money to start, you need to understand that waiting for the “right time” is exactly what’s keeping you stuck.In this episode, Katie breaks down the three most common excuses tradies make when it comes to managing cash flow and why these are holding you back. More importantly, she’ll show you how to take control of your cash flow today with three simple, doable steps that will change everything.In this episode of Profit First for Tradies, you’ll learn the following:Why January can be tough for tradies (01:09)Top three reasons tradies delay fixing their cash flow (01:45)Three small but powerful steps to start turning things around (03:23)Simple steps you can take today to break the cycle and regain control (07:55)You don’t need a pile of cash to implement Profit First. You don’t need to wait until you’ve paid down all your debt. What you do need is a plan that works, and that starts right here. CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Hustling hard and stressed about your numbers? You’re not alone — and here’s how to fix it.As the year winds down, it’s time for an honest chat about the financial struggles that so many tradies face. If you’ve ever felt the sting of cash flow shortages despite working your butt off, this episode is your lifeline. With over 13 years in bookkeeping and seven years coaching tradies, Katie lays it all out — why financial stress happens, what you can do about it, and how to start the new year with your numbers in control. From untangling messy financial systems to bridging the gap between you and your accountant, this episode is packed with actionable insights for a better financial future.In this episode of Profit First for Tradies, you’ll learn the following:Financial struggles are more common than you think (00:02)How messy systems are costing tradies time and money (01:47)A 15-minute chat to transform your financial chaos into clarity (04:34)Simple and efficient is the goal (05:45)The renovation analogy (07:02)Start the year right with Katie’s no-fluff plan to tackle financial stress (08:40)You don’t have to keep living in financial overwhelm. Let’s make 2025 the year you take control of your numbers and finally see your hard work pay off. Don’t wait until it’s too late — start your journey to simple and efficient financial systems today!CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Christmas is coming, but January bills are lurking. Here's how to prep NOW.As the holidays approach, it’s easy to focus on the here and now — busy schedules, last-minute jobs, and the rush to meet end-of-year demands. But what if we told you that spending a little time on your business finances now could make January, February, and beyond feel a whole lot easier? Today, Katie breaks down three practical, easy-to-implement steps to protect your cash flow, avoid late-paying clients, and manage your bills so you can enjoy the new year stress-free.In this episode of Profit First for Tradies, you’ll learn the following:Why the end of the year can be a nightmare for tradies’ cash flow (00:03)Why making the decision to take action NOW is half the battle (01:08)How identifying your key financial pain points can create a clear path forward (01:41)The importance of reaching out for help before you find yourself in a post-Christmas bind (02:21)Why taking action now could save you from a whole lot of stress (04:50)Don’t leave your business finances until the last minute. Taking just a little time now to plan could mean the difference between a calm, profitable start to the new year and a full-blown cash flow crisis. This holiday season, give yourself the gift of financial peace of mind.
If Profit First is failing you, don’t quit — let’s fix it together!In this episode, we dive into the frustrations many business owners face when trying to implement the Profit First system. You may have read the books, listened to the podcasts, or even given it a shot in your business, but still, the results just aren’t adding up. Why does it seem to work for everyone else except you? Katie unpacks the common mistakes, missteps, and hurdles she’s seen from business owners who’ve hit the wall with Profit First, offering practical tips to get things back on track.Whether you’ve fallen off the Profit First wagon, or you’ve just never felt like it’s working for your business, Katie’s advice could be the game-changer you need. Learn the key elements of setting up Profit First correctly, staying consistent, and adjusting the system as your business evolves. Plus, she offers a free resource to help you identify where you’re getting stuck.In this episode of Profit First for Tradies, you’ll learn the following:The frustration with Profit First (00:10)Three common Profit First pitfalls (01:11)The essential checklist to troubleshoot your Profit First issues and get moving toward sustainable success (03:05)Need Help? Here are your options (03:37)If Profit First has been a frustrating experience for you, don’t throw in the towel just yet. With the right adjustments and consistent application, it can absolutely transform your business. It’s never too late to get it right — take that next step to financial clarity and freedom!CONNECT WITH KATIE CRISMALE-MARSHALLEmail: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Burnt out, stressed, and confused by your numbers? Let's fix that.In today’s episode, Katie dives deep into the hidden problems lurking in your Xero file that are silently sabotaging your business. Whether you’re a business owner doing your best to manage your books or you're working with a bookkeeper who’s missing the mark, these issues are leading to inaccurate reporting, poor bookkeeping processes, and dreaded surprise tax bills. But don’t worry — Katie’s here to help you turn it all around with simple, practical steps. She'll walk you through identifying red flags, streamlining your bookkeeping, and ensuring your Xero file is one of your best business assets, not your biggest headache.In this episode of Profit First for Tradies, you’ll learn the following:The 3 biggest frustrations business owners face with Xero files (00:30)The dangers of inaccurate reporting (02:00)The perils of inefficient bookkeeping and tips to streamline your processes (02:34)The worst outcome of mismanaged books: surprise tax bills (03:02)A quick and simple DIY audit to spot discrepancies in your Xero dashboard (03:26)The importance of asking for help when things don’t look right (04:57)How to get in touch with Katie (07:39)Ready to take control of your Xero file and breathe that sigh of relief? Don’t wait for things to get worse — open up your dashboard now, do a quick check, and start asking the right questions! QUOTES“You can simply open up your Xero dashboard and look at those three points, and if it doesn't make sense, then you know exactly what you need to do — you need to reach out and ask for help.” - Katie Crismale-MarshallResourcesXeroHubdoc
Tired of the daily grind with no clear end in sight? Discover the power of planning your success!In this episode, Katie dives into the crucial topic of goal setting and planning for trades businesses. She challenges the common resistance to planning, addressing the importance of having clear goals and a solid plan to navigate the unpredictable nature of the trades industry. Katie emphasises that planning isn't about following a perfect path but about having a direction to steer through challenges and achieve long-term success. By having a clear vision and actionable steps, you can navigate industry challenges more effectively, ensuring sustained growth and profitability.In this episode of Profit First for Tradies, you’ll learn the following:The common groans about planning and why tradies need to reflect on their business' purpose and end goals (00:31)The unpredictability of the trades industry and why having a plan still matters (01:06)The value of personalising your plans (02:42)First crucial point in planning: Visualise possibilities (03:22)Second crucial point in planning: Decide, declare, and write them down (04:07)Third crucial point in planning: Rough out the draft (04:45)Insights from a masterclass by Andrew Sparks (06:14)Setting clear goals and planning are essential for tradies looking to save time, money, and sanity in their business journey. This strategic approach not only helps in achieving personal and financial goals but also provides a roadmap for long-term success and stability in business. Remember, successful planning starts today — not tomorrow, not next month, not next year.CONNECT WITH KATIE CRISMALE-MARSHALL Email: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Think you're too small for Profit First? Think again — and transform your business from a cash monster to a money-making machine!In this episode, Katie Crismale-Marshall breaks down the essentials for trades businesses at any stage — whether you're just starting out or have been in business for a while. She emphasises the importance of implementing the Profit First system early on, debunking the myth that you need to be a big player to start profiting. In this episode of Profit First for Tradies, you’ll learn the following:Common misconceptions about starting Profit First (00:46)Why now is always the best time to implement Profit First (01:06)Step 1: Read or listen to Katie’s book Profit First for Tradies (01:27)Step 2: Audit your systems — the importance of having integrated financial and job management systems (02:01)Step 3: Get started with Profit First — here’s how (02:54)Available resources with action items for different business stages (05:15)This episode is perfect for tradies at any stage of their business journey, from newbies to seasoned professionals. By implementing the steps discussed, you'll streamline your financial systems and start seeing consistent profits. Remember, Profit First is for every tradie, no matter where you are in the game.QUOTES“The key with Profit First is consistency. Get started — you don't have to build the entire framework right from the beginning. You just have to get started with parts of that framework and then continue to build over time.” - Katie Crismale-MarshallResourcesProfit First for Tradies by Katie Crismale-MarshallProfit First for Tradies Facebook GroupCONNECT WITH KATIE CRISMALE-MARSHALL Email: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Wanna know the secret to keeping your business momentum? It’s a simple habit — pat yourself on the back! In this episode, Katie Crismale-Marshall dives into the often-overlooked habit of celebrating small wins in your business. Katie shares insightful observations from her interactions with various business owners and highlights the importance of acknowledging progress, no matter how small. She provides actionable steps to help you cultivate this habit, ensuring you stay motivated and continue to thrive.In this episode of Profit First for Tradies, you’ll learn the following:The power of celebrating small wins (00:31)The value of consistent effort and how it leads to significant gains over time, even if the process isn't perfect (01:49)Action step #1: Reflect on recent wins (02:30)Action step #2: Identify actions you can take this week that you can celebrate later (02:55)Action step #3: Set a weekly reminder to review and celebrate your wins (03:18)How sharing your wins with others can amplify the positivity (03:45)The benefits of adopting this habit (04:49)Remember, celebrating your wins isn't just about feeling good — it's about building a sustainable, profitable business. Stop chasing perfection! Your progress is always worth celebrating.CONNECT WITH KATIE CRISMALE-MARSHALL Email: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Here’s an exciting update you can't miss!In this special bonus episode, Katie shares some groundbreaking news that marks a significant milestone for both her and Profit First for Tradies. For over six years, Katie has dedicated herself to helping tradies transform their businesses, and today, she unveils a new chapter in this incredible journey.In this episode of Profit First for Tradies, you’ll learn the following:Katie’s exciting new role at Profit First Australia and New Zealand (01:18)Business as usual for Profit First for Tradies (02:50)Katie shares a personal story about her parents' struggles in their self-employed business, which sparked her determination to help others avoid similar challenges (04:08)Why you should reach out if you have any questions (05:32)We are excited to bring you this bonus episode, updating you on Katie's new role as CEO of Profit First Australia and New Zealand will alongside her role as CEO of Profit First for Tradies. Katie is looking forward to helping even more small business owners and their families to build their permanently profitable businesses.CONNECT WITH KATIE CRISMALE-MARSHALL Email: support@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featuredFacebook Group: https://www.facebook.com/groups/profitfirstfortradies Facebook: https://www.facebook.com/ProfitFirstforTradies/Website: https://www.profitfirstfortradies.com.au/
Stressed about EOFY? Let’s flip the script and finish strong!In this episode, we dive into the pressing topic of the end of the financial year (EOFY). With June upon us, many tradies find themselves in a whirlwind of financial stress and unfulfilled goals. It’s a familiar tale — “I’ll start that next financial year,” but as Katie reminds us, nothing miraculously changes come July 1st. So instead of waiting for the new financial year, why not take control now? Katie offers three practical tips to ensure you finish this financial year strong and start the next one on the right foot. She emphasises that taking small, deliberate steps can lead to significant changes. In this episode of Profit First for Tradies, you’ll learn the following:Common excuses as the end of the financial year looms ahead and the importance of proactive planning (00:10)Reality check — don’t expect a magical transformation on July 1st if you don’t take action now (01:22)If this year has been stressful, acknowledge it but plan to make next year different (01:52)The big question — What are you going to do differently? (02:25)Step 1: Make a decision now to change and prioritise your financial management (02:53)Step 2: Pinpoint your biggest financial headaches (03:07)Step 3: Find the right help for your business (04:03)Action items for EOFY (05:23)If you’re feeling overwhelmed by the end of the financial year, remember you’re not alone, and there’s plenty you can do to turn things around. Prioritise, plan, and seek the right support to make this EOFY your most successful yet. Don’t wait for the calendar to flip — start making the necessary adjustments now to ensure a smoother, more prosperous financial year ahead!CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/
Have you tried implementing Profit First in your business but found yourself stuck or overwhelmed? Many tradies attempt to implement Profit First but hit roadblocks due to time constraints, cash flow issues, or simply not knowing where to start. In today’s episode, we'll explore practical steps to help you get back on track and successfully implement Profit First, even if you’ve struggled before.In this episode of Profit First for Tradies, you’ll learn the following:Understanding the benefits of implementing Profit First and common reasons why tradies get stuck. [00:00]The importance of making a firm decision to implement Profit First and sticking to it. [02:30]Steps to ensure you consistently apply Profit First principles, including setting aside time weekly for financial review. [04:10]Identifying what worked and what didn’t in your previous attempts and making necessary adjustments. [06:00]How successful implementation can lead to better decision-making, less stress, and a more enjoyable business environment. [08:00]Implementing Profit First can transform your business and personal life by providing financial clarity and reducing stress. Even if you’ve struggled before, it’s never too late to get back on track. Join me for a quick chat to receive personalised action steps that can help you move forward.CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/
Building a profitable trade business isn't just about swinging hammers — it's a juggling act of managing finances, teams, and growth. In this candid conversation, Dean Backman from Backman Builders and Build Insite sits down with Katie to uncover the secrets to financial mastery. Brace yourself for a refreshingly honest look at the struggles tradies face and how to overcome them through smart money management and building the right financial team. In this episode of Profit First for Tradies, you’ll learn the following:The power of teamwork: The key to unlocking financial success (27:54)Goal-setting: The secret to preventing complacency (31:17)Katie's driving force: From frustrated financial planner to passionate Profit First advocate (33:39) How to avoid becoming just a statistic in the building industry (37:14)Simplicity is king: How Profit First streamlines business financials for time-strapped tradies (39:27)Get ready to shatter the myth that bookkeeping has to be a bore and discover how the Profit First system can be customised to revolutionise your profitability — all while keeping things simple enough to run your finances in just 15 minutes a week!CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ CONNECT WITH BUILD INSITEYouTube: The Build Inside PodcastApple: The Build Insite PodcastSpotify: The Build Insite Podcast
If you're a tradie or builder feeling overwhelmed by the challenges of running a successful business, this episode is a game-changer. Join Dean Backman from Backman Builders and Build Insite as he pulls back the curtain on the transformative power of collaboration, education, and financial mastery in the trade space.He shares his journey in the building industry and the passion that led him and his team to start a collaborative platform aimed at transforming the trade space. Grab a pen and take notes as he reveals insider tips and challenges in running a successful business that prioritises profit, work-life balance, and a legacy for future generations.In this episode of Profit First for Tradies, you’ll learn the following:Dean's roots in the building industry (00:50)The value of education, systems, and processes in achieving financial freedom and a balanced life (02:58Why Dean reached out to Katie (04:22)All about Build Insite: A collaborative effort to help builders and tradies succeed through shared knowledge and resources (14:23)The power of collaboration over competition and its potential to transform the industry and impact communities (18:00)The importance of customising your systems and building a solid team for seamless business operations (25:49)Whether you're a seasoned tradie or aspiring builder, this episode is a masterclass in breaking free from the grind and forging a path towards sustainable success. Join Dean and Katie as they shatter industry norms, revealing the secrets to building a profitable, balanced, and community-driven business that leaves a lasting legacy.CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ CONNECT WITH BUILD INSITEYouTube: The Build Inside PodcastApple: The Build Insite PodcastSpotify: The Build Insite Podcast
Mounting ATO tax debt is a growing concern for many businesses, with some owing hundreds of thousands of dollars. Katie Crismale-Marshall understands the three biggest frustrations: constantly chasing your tail, never getting on top of things, and not knowing where you stand financially. She emphasises the importance of having a clear plan to pay off the debt within a specified timeframe while keeping up with current obligations.In this episode, Katie highlights that poor advice from bookkeepers or accountants (not all of them, many are amazing) is often the root cause of the problem, leaving business owners in a precarious financial position. She then talks about three crucial steps to help get you out of this dilemma.In this episode of the Profit First for Tradies, you’ll learn the following:Why increasing ATO tax debt is such a crucial topic (00:08)The three biggest frustrations businesses face with tax debt (00:42)Poor advice from financial advisors is often the reason why you’re in this conundrum (01:53)Step 1: Take stock and assess (02:37)Step 2: Reach out for help (04:53)Step 3: Implement Profit First and negotiate a payment plan (06:51)How to avoid working tirelessly for naught (09:49)Benefits you will enjoy when you reach out to Katie (11:12)Whether you're already implementing Profit First or haven't started yet, Katie encourages reaching out for a free 15-minute consultation to receive actionable steps toward ultimately eliminating your ATO debt.CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/
Are you aware of just how crucial your financial team is to the success of your business? They can make or break your company and be instrumental in how soon you can achieve your goals.In this episode of Profit First for Tradies, Katie Crismale-Marshall discusses the importance of building a strong financial team for your business. She emphasises that having the right professionals in place, such as a business coach, bookkeeper, and tax accountant, is critical for success. Katie provides tips to evaluate if your current financial team is up to the mark.Katie highlights the need for clear communication and a solid understanding of financial reports. If anyone in your financial team isn’t in sync, then maybe it’s time to consider finding one who will be a better fit for you.In this episode of the Profit First for Tradies, you’ll learn the following:What Katie and her team do for their clients (00:56)The value of communication and finding the right fit for your business (01:54)Tips on taxes accountant and tax planning sessions (05:17)Tips on how to utilise your Xero file (06:42)Overall, Katie's message is to maintain open communication with your financial team, ask questions when something doesn't make sense, and ensure everyone is working together towards your business goals. By fostering a strong financial team, business owners can better manage their finances, plan for taxes, and achieve their desired profitability and lifestyle.CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/
In this episode of Profit First For Tradies, Katie Crismale-Marshall speaks with Simon Davis, a fencing contractor and coach who has transformed his business and mindset by implementing the Profit First system.Simon candidly shares his past struggles of being a "broken man," working excessively long hours yet barely making money. He attributes much of this to lacking financial management skills and cash flow systems in his business. Simon recounts chasing one job after another just to cover payroll, rather than pursuing profitable work. His spending was impulsive with no planning, further exacerbating cash flow issues.However, Simon's perspective began shifting after being introduced to Profit First principles. He started allocating small percentages of revenue into separate accounts, which seemed insignificant at first, but compounded rapidly over time. This new financial clarity allowed Simon to be more thoughtful with purchases, confident he could afford larger investments when needed.More importantly, Simon explains how Profit First has given him the choice to better balance work and life. He can now take breaks when conditions are gruelling without stressing about cash flow. Profit First has enabled Simon and his wife to splurge on vacations and even for his daughter's wedding — something previously unimaginable.Simon stresses that while business issues are inevitable, Profit First provides the systems to remain proactive rather than perpetually reactionary. He has applied this methodology to quote more accurately for jobs, conduct thorough cost analyses, and plan for major expenses well in advance.In this episode of the Profit First for Tradies, you’ll learn the following:The value of having a profit-first mindset and not falling into the trap of “the customer is always right” mindset (22:16)The dangers in Tall Poppy Syndrome (26:01)Changes Simon noticed in his behaviour and mindset once he incorporated Profit First in his business (32:53)How Profit First helps you become more proactive rather than reactive (35:58)The perks of planning and making sure you always hit your profit margin (38:59)The key principles Simon underscores are having clarity on financials, embracing lifelong learning, investing in training, and surrounding yourself with competent mentors and team members aligned with best practices. His transformational story exemplifies how sustainable profitability unlocks personal and professional freedom.CONNECT WITH KATIE CRISMALE-MARSHALLWebsite: https://www.profitfirstfortradies.com.au/ YouTube: https://www.youtube.com/@profitfirstfortradies9503/featured Facebook: https://www.facebook.com/ProfitFirstforTradies/ Email: katie@profitfirstfortradies.com.au Instagram: https://www.instagram.com/profitfirstfortradies/ CONNECT WITH SIMON DAVISFencing business website: North Coast Fencing Coaching and mentoring business website: The Profitable FencerFacebook group: The Fence Posts Facebook GroupYou Tube podcast: a...