Rachel Siegel vividly recalls the moment she realized her thriving accounting firm wasn’t actually thriving. Revenue looked strong on paper, but behind the scenes, expenses were siphoning away every dollar before she could take a paycheck.
“That’s the trap so many business owners fall into,” Rachel says. “We assume that making more means keeping more, but if you don’t control cash flow, you can work yourself into the ground and still have nothing to show for it.”
Then she discovered Profit First. The financial system—developed by entrepreneur and author Mike Michalowicz—challenges traditional accounting by ensuring business owners prioritize profit from the start, rather than treating it as an afterthought. In 2020, Rachel implemented the system in her own firm, Go Figure Accounting, and within a year, increased net profits by 187%.
The proof was in her bank account. She knew her Go Figure clients needed this system, too. So in 2020—yes, that year—Rachel and Go Figure achieved Mastery Certified status as a Profit First Professional, joining an elite group of just 100 firms nationwide at the time. “The transformation was profound. Not only did our financial health improve, but our clients saw measurable, life-changing results in their own businesses,” she says.
By 2024, Go Figure’s impact was undeniable. The firm earned the prestigious Profit First Professional Firm of the Year award, a testament to its commitment to revolutionizing business finances through the Profit First methodology.
Now, Rachel helps medical professionals, cybersecurity experts, and small business owners do the same through immersive Profit First workshops, working alongside her professional partners: Dr. Scott Colonna of WE Eye Care, Uppercut Consulting, and Insight Business Advantage, and Charlene Ignacio of Fornix Marketing, who specializes in MSPs, cybersecurity, and mergers and acquisitions in the tech space.
“It’s not just about the numbers; it’s about shifting mindsets. Profit First creates confidence and control, no matter the industry,” she asserts.
The workshops go beyond financial theory. They take the Profit First methodology and tailor it to the real-world challenges of different industries. These aren’t dry accounting lectures or tedious budgeting seminars—they’re hands-on, high-energy experiences designed to rewire how business owners think about money.
Intro to Profit First: Why Traditional Accounting Fails
Rachel kicks off every workshop with a bold challenge: Forget everything you think you know about business finances. Traditional accounting focuses on expenses first—leaving profit as an afterthought. But Profit First flips that script, ensuring entrepreneurs keep more of what they earn.
One recent attendee, Marco, a cybersecurity entrepreneur, had been reinvesting every dollar back into his business, convinced it was the only way to grow. “When I saw the Profit First model, I realized I was doing it backwards. I was surviving on scraps,” he admits. Within three months of implementing Profit First, Marco had built an emergency fund, taken his first real paycheck in years, and still had money left over to reinvest—without the financial stress.
Profit First isn’t just a financial strategy—
it’s a business revolution. And Rachel Siegel?
She’s leading the charge, helping business
owners not just survive, but thrive.
Goal Setting with Profit First: The Instant Assessment
Most business owners avoid setting profit goals because they don’t know where to start. Rachel’s Instant Assessment lays everything out in real numbers, helping attendees see how much they’re actually keeping versus what they should be keeping.
Dr. Scott Colonna, an optometrist and business strategist, has worked with countless healthcare professionals who struggle with profitability despite strong patient bases. “Many doctors think scaling their practice is the answer, but without a solid profit strategy, they just end up working harder for less,” he says. Profit First helps them establish financial clarity, ensuring they build wealth while delivering great patient care.
For Dr. Lisa, a chiropractor with a growing practice, that assessment was an eye-opener. “I thought I was doing great because revenue was up, but when I ran the numbers, I saw that less than 5% of it was actually hitting my pocket,” she says. After working through the goal-setting session, Lisa set clear targets and restructured her allocations, doubling her take-home profit within six months.
Setting Up Profit First for Your Business: The Bank Account Strategy
Profit First isn’t just a theory—it’s a tangible system that starts with bank accounts. Attendees leave this session with a plan to open five core accounts: Income, Profit, Owner’s Pay, Tax, and Operating Expenses. “This is where the magic happens,” Rachel explains. “We automate profit by moving money into these accounts first—before expenses take over.”
Charlene Ignacio, a marketing and growth expert in the cybersecurity and tech space, helps MSPs and tech businesses navigate cash flow challenges, especially in mergers and acquisitions. “Tech entrepreneurs often think funding equals success,” she explains. “But without profit discipline, businesses burn through capital fast and end up in financial chaos.”
A managed services provider (MSP) named Alex implemented this system and finally felt in control of his cash flow. “Before, money came in and went right back out,” he says. “Now, I see exactly what’s mine, what’s set aside for taxes, and what I can reinvest. It’s a total mindset shift.”
Customizing Profit First for Your Industry
Profit First isn’t one-size-fits-all. A solo entrepreneur’s allocations look different from a medical practice’s. This session breaks down how to adjust percentages based on revenue, business model, and long-term goals.
Take Jamie, who runs a boutique marketing agency. He was skeptical at first—could he really afford to take a profit from every payment? “Rachel showed me how to start small, shifting just 1% at first,” he says. “After seeing that I could still cover my expenses, I kept increasing it. Now, my profit account is growing every month.”
Profit First in Action: Troubleshooting and Optimization
The biggest fear most business owners have is implementation: Will this actually work for me? This session tackles real-world obstacles, from inconsistent revenue to unexpected expenses. Rachel, Dr. Scott, and Charlene help attendees refine their systems and troubleshoot challenges before they derail progress.
For Tom, who runs a chain of physical therapy clinics, the challenge was cash flow unpredictability. “Some months were booming, others were tight,” he says. Rachel worked with him to adjust his allocations seasonally, smoothing out his financial fluctuations. “I finally feel like I’m in control instead of at the mercy of the ups and downs.”
Profit First Advanced: Preparing to Sell Your Business
One of the most overlooked benefits of Profit First? It makes businesses more valuable. “A profitable, well-structured business is far more attractive to buyers,” Rachel says. “Profit First isn’t just about making money now—it’s about creating long-term wealth.”
Charlene, with her expertise in M&A for tech firms, helps business owners maximize their valuation. “When your books are a mess, your company is worth less,” she explains. “Profit First ensures your business isn’t just operational—it’s investment-worthy.”
Profit First Next Steps: The 90-Day Implementation Plan
The workshop closes with a concrete action plan. Every attendee leaves with a step-by-step guide for the next 90 days, along with access to ongoing coaching and resources.
“For most people, the hardest part is getting started,” Rachel says. “We make sure no one leaves without a plan.”
Profit First isn’t just a financial strategy—it’s a business revolution. And Rachel Siegel? She’s leading the charge, helping business owners not just survive, but thrive. Whether you’re a doctor drowning in expenses, a tech entrepreneur struggling with cash flow, or a small business owner wondering if you’ll ever see real profit, Rachel proves there’s a better way.
So the only question is: Are you ready to put profit first?
For Medical Professionals
Healthcare providers often grapple with the dual challenges of patient care and business management. Rachel’s workshops address this by introducing a paradigm shift: treating the practice itself as a patient. “We guide medical professionals to diagnose their financial health, prescribe effective cash flow strategies, and monitor progress, ensuring their practice thrives as well as their patients,” she explains.
For Managed Service Providers and Cybersecurity Experts:
In the fast-evolving tech landscape, MSPs and cybersecurity firms face unique financial hurdles. Rachel’s approach equips these professionals with tools to navigate irregular income streams and substantial upfront investments. “By implementing Profit First, tech firms can stabilize their cash flow, fund innovation, and ensure sustainable growth,” she emphasizes.
For Small Business Entrepreneurs:
Entrepreneurs often wear multiple hats, making financial oversight a daunting task. The workshops empower business owners to take control of their finances through simple, yet effective, systems. “We break down complex financial concepts into digestible steps, enabling entrepreneurs to make informed decisions and prioritize profitability,” Rachel shares.
