{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Floral CEO","title":"Profit First for Florists: Why Paying Yourself First Changes Everything","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/ec62bcc5\"></iframe>","width":"100%","height":180,"duration":2217,"description":"Join Jen in this week's episode of the Floral CEO podcast as she dives deep into the concept of 'Profit First' by Mike Michalowicz. Jen shares her personal journey and insights into implementing this financial system in her floral business. Learn about the essential buckets for managing your revenue, including income, tax, owner's compensation, profit, and operating expenses. Jen also discusses the significance of keeping your business financially healthy and the importance of supporting yourself as an entrepreneur. Whether you're a seasoned florist or just starting out, this episode is packed with valuable advice for running a profitable floral business.00:00 Introduction to the Floral CEO Podcast00:14 Diving into Profit First00:57 Understanding the Profit First System01:59 Setting Up Your Buckets02:57 Simplifying the Tax Bucket04:44 Owner's Compensation Explained06:09 The Importance of the Profit Bucket09:00 Operating Expenses and OPEX Account11:38 Managing Multiple Accounts14:45 Expense Audits and Financial Adjustments22:39 The Role of Profit in Business Growth30:37 Final Thoughts and Encouragement","thumbnail_url":"https://img.transistorcdn.com/FHz-UgopUhJpJn1O-4JHblhUpmcOM1-ut37jvDGyuz8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS84ODcz/NzBkZGFkZjUyZjU5/ZTk5ODAxMTAzZjFj/NDIzNS5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}