How can I improve cash flow for the rest of the year?
Cash flow isn’t just about making more—it’s about keeping more. Start by reviewing your invoicing cycle. Are clients paying on time? Could you shorten payment terms or offer early-pay incentives? Next, audit your recurring expenses and cut what’s not driving value. Finally, consider whether your pricing is still aligned with your costs and the market—sometimes a small price bump can make a big difference to your bottom line
What’s the best way to reduce next year’s tax bill—starting now?
The most effective tax strategies happen long before filing season. Meet with your accountant or advisor early in the year to map out options: maximizing deductions, investing in retirement plans, or making charitable contributions can all make a difference. If you’re a business owner, consider how you classify expenses, how your business is structured, and whether you’re setting aside funds regularly for taxes owed. Planning now gives you control and reduces stress later.
Should I be setting aside more for estimated taxes?
If you got hit with a bigger bill than expected, it’s time to revisit your quarterly tax strategy. The IRS expects estimated payments if you anticipate owing over $1,000. Review your year-to-date income, and adjust your tax set-asides accordingly—especially if Q1 was stronger than expected. Tools like Profit First can help automate this by setting aside a percentage of income in real-time, so you’re not scrambling every quarter.
Am I paying myself the right way?
Business owners often leave themselves last on the list—but how and when you pay yourself matters. If your pay is inconsistent, too high, or too low, it can affect everything from taxes to morale. A system like Profit First helps ensure you’re paying yourself regularly and sustainably, while still covering expenses and saving for taxes. It’s not just about income—it’s about creating stability and reward for your work.
What financial KPIs should I track monthly?
Revenue and expenses are just the tip of the iceberg. You should also be watching gross profit margin (how much you’re really making after direct costs), operating profit (what’s left after expenses), and cash runway (how long you can operate with current cash). These KPIs help you make smart, fast decisions—and spot problems before they snowball.
How can I shift my budget to grow this quarter?
Growth doesn’t always require spending more—it means spending better. Take a look at where your money is going. Are you investing in lead generation, customer experience, or staff training? Or is it all going to software you barely use? Reallocate funds to high-impact areas that fuel growth. Budgeting is less about restriction and more about alignment: putting dollars behind your biggest opportunities.
