How Profit First Can Give You Peace of Mind in Hard Times With Jonathan Tovar

Summary: 

Profit First is an amazing method for managing your business’ cash flow, but it can be so much more!

In this episode, we’ve got Jonathan Tovar, real estate investor, entrepreneur, and co-owner of Action REI, as he talks about his business journey before and after learning about Profit First.

He and his brother started their company in August 2019, just a few months before the pandemic hit and dealt a major economic blow on everyone. But through the highs and lows of Action REI, implementing Profit First gave them opportunities and options to keep their business going. Jonathan even started applying the method into his personal finances! 

Listen in on Jonathan’s thoughts and experiences with the Profit First method, and more!

Key Takeaways:
[0:55] On Jonathan Tovar and His Investment Background

[4:33] Jonathan on Profit First 

[8:16] Jonathan’s Situation Before and After Profit First

[14:14] How Profit First Quickly Changed Their Business 

[18:16] How Profit First Helps Your Business in Difficult Times

[22:54] Implementing Profit First Into Personal Finances

[27:00] What Jonathan Would Do Differently if Started From Scratch

Quotes:

[5:53 ] “Real estate (is a) roller coaster… You get good months and bad months. And what we’ve found is that the Profit First method really helped us out more so in the bad months.”

[8:36] “Once you start implementing those things, like Profit First especially, then you start really treating it like a business.”

[15:14] “Profit First (gives you) peace of mind in your business and knowing that everything is where it needs to be  ”

[26:11] “It doesn’t make you feel guilty for having a little bit of fun because you know everything is already accounted for.”

Links:

Connect with him through his Instagram @jonathan_action

Profit First Real Estate Investors FB Group-https://m.facebook.com/groups/ProfitFirstREI/ 

Simple CFO-https://simplecfo.com/ 

Tired of living deal to deal? 

If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David