Matt Schwartz

Uh, well, I, I guess a lot of money.

I mean, if I spend $700 a month, seven, you know, 700 to a thousand, but that's a lot less than the, the 45 to $50,000, you know, physical assistant that I had for many years.

Yeah, great question.

So first of all, about two years ago, I found something that changed my life.

I got introduced to Michael Michalowicz and Profit First.

Are you aware of that?

Okay, great.

So Mike is a successful entrepreneur who exited a business and then quickly became broke and realized that he really just didn't have his act together and created a system that makes it very easy for businesses to always be healthy.

And I struggled...

Like many other entrepreneurs, you know, really just not knowing where my cash was doing what he likes to call bank balance accounting, where, you know, it was that one big bucket of money in my account and really not knowing how to break it up to keep my business super healthy.

So I'll break it down for you very simply.

When a check comes in, I have a formula in which I break up the money into different buckets.

35% goes to operating expense, 20% goes directly to owner's pay, 30% goes to taxes, and 15% goes directly to the profit bucket.

I receive obviously the 20% of the owner's pay.

30% is in my tax account.

So I know I have that money there.

So I don't have to sweat it every quarter when I need to pay my taxes.

And then every quarter, I get 50% of what's in the profit bucket based on what's come in

as a dividend that I can do something, you know, for me, my family, I can use it as for savings.

I can do something nice for my key employee, whatever that may be.