The Huddle with Brad Noll: Profit First with Your Small Business
Student of the Game · Season 1 · Episode 39
Profit First with Your Small Business
with Brad Noll
Brad Noll returns to The Huddle to unpack his conversation with Brian Lessinger and share how the Profit First model shaped the way he runs his real estate business. Brad explains the difference between revenue and income, walks through Brian's five money tips, and shows how separate accounts, honest conversations, and a long view help small business owners stay profitable and enjoy the fruits of their work.
▶ Listen to the episodeKey Takeaways
- Revenue is not income. Many small business owners confuse the two. Revenue is everything the business brings in, and income is what you decide to keep.
- Take your profit first. Following Mike Michalowicz's Profit First, Brad's business moves money into profit, owner's pay, tax, and operating accounts on the 10th and 25th of every month.
- Play offense and defense with money. Saving helps you sleep at night, but you can only cut so much. A mentor told Brad that earning matters more because you can keep growing it.
- Expenses rise to meet the money available. Parkinson's law applies to finances. Separate accounts keep tax money for taxes and make you resourceful, like squeezing the last of the toothpaste.
- If you can't track it, it's a wish. Know where you are starting from, set milestones you can measure, and compare yourself only to people who were in similar shoes.
- Enjoy the fruits of your labor. Brad believes reinvesting every dollar of profit leads to burnout. Profit pays for experiences, like the experience account he and Lindsay share.
Chapters
- 00:00Recapping Brian Lessinger and The Complete Money Playbook
- 01:27Act your wage: revenue is not income
- 04:11The E-Myth: technician vs. business owner
- 07:46Mastering the four financial pillars
- 13:23Accountability, awareness, and Profit First
- 18:59Keep business and personal finances separate
- 21:04Parkinson's law and the tube of toothpaste
- 24:32Start conversations about money
- 26:37Play the long game
- 29:23Chickens, feathers, and enjoying your profits
Read the article
Profit First for Small Business: How Brad Noll Manages Money
The full story behind the episode, written to be read, shared, and found on Google.
Read it →
Buyer and seller guidance for the Fort Wayne market, hosted by Brad Noll.
Listen to Moving Fort Wayne →Work with the Noll Team
Ready to make your move?
Since 2003, Noll Team Real Estate has been helping people in the Fort Wayne area find the freedom to live the lifestyle they want. Tell us where you are headed and we will build the plan around your life.