Profit First isn’t just a method for struggling business owners. Our guest today is proof that Profit First is a system that can benefit even the most successful entrepreneurs, giving them a better way to manage their cash flow.
Trey Taylor is a talented businessman, speaker, and executive leader. He holds the positions of CEO at Taylor Insurance Services, Managing Director at trinity | blue consulting, and Founding Partner at Ascend Partners. He is also the author of “A CEO Only Does Three Things,” a book I’ve had the pleasure of reading and applying in my career.
Today, he joins us to talk about his career, the problems he encountered along the way, the importance of partnership, and how Profit First revolutionized his business. Catch the full discussion here!
[00:41] Introducing Trey Taylor
[07:11] How Profit First Fits Into His Business
[08:27] Problems He Encountered Before Profit First
[11:33] The Effect of Implementing Profit First
[16:12] How Profit First Gives You a Better Perspective on Money Management
[20:30] On His Real Estate Business, His New Partnership, and Implementing Profit First Into It
[26:41] On His Book: “A CEO Only Does Three Things”
[29:01] On Using His Book and the Profit First for REI Book to Get as a Way to Start Conversations Between Partners About Money
[35:46] Advice for People Who Want to Get Into Real Estate Investing
[40:13] Connect With Trey
[8:10] “ I remember reading it on an airplane. I came home, got my accountant and bookkeeper together, and we sat down and revamped our entire financial picture.”
[23:21] “Yeah, I think it's all about over; communicating everything before you make the decision. Partnerships are marriages, in almost every sense of the word, they are legal unions…and so you need to have a way to get into that, which should be based on shared values that are authentic to both of you.”
[36:54] “Don't wrestle with the ideas [once] they've been proven out, just implement them...don't study on [Profit First] for too long, just get it into place, and start letting it benefit you, and growing your business through that.”
Connect with Trey:
Consulting Website: https://trinity-blue.com/
Get a copy of his book “A CEO Only Does Three Things”: https://www.amazon.com/CEO-Only-Does-Three-Things-ebook/dp/B08L8FRQQ8
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