Starting this month, Flow is launching a new business subscription (Flow+ for Business) with Profit First in the Flow app: the practical and accessible money method from America, which also has more and more followers in the Netherlands and, like Flow, works with the jar system.
From day one we at Flow have been very enthusiastic about Profit First, a simple financial method to transform your company from a 'cash-eating monster' into a money-making machine, created by Mike Michalowicz in America and brought to the Netherlands by Femke Hogema. Just like Flow, with her company she helps entrepreneurs to gain more insights into their finances and to handle money with more confidence. The collaboration between Flow and Profit First brings this a little closer.
Jar system
Femke Hogema translated the book of Mike Michalowicz about the Profit First method and founded “Profit First Professionals BV” in the Netherlands, in which accountants and bookkeepers work according to the Profit First method based on an affiliate program. Profit First Professionals guide entrepreneurs to make more profit, have peace of mind and get insights into their finances.
The method, which is also embraced by many Dutch finfluencers, turns around the common formula: turnover - costs = profit. Profit First says turnover - profit = costs. You make a profit with every payment you receive. Through a jar system, where you divide your income over at least four separate bank accounts (profit, tax, expenses, and salary) you always have enough money reserved. You can see at a glance how you are doing financially, so you can make the right choices to not spend money you don't have. The 'jar system' has a motivating effect and can be an eye-opener to doing business differently, which is exactly what Flow is all about.
In the Profit First method, you manually divide your turnover over the different jars on two fixed days per month. We at Flow thought that it could be even simpler, so we approached Femke Hogema for a collaboration. Then, together with Profit First, we made sure that the distribution of the revenue over the various accounts happens automatically via the Flow Your Money app. This way you not only receive notifications of what is in your different accounts, but the money is also distributed automatically. Femke Hogema on the collaboration: "Flow is a great app! Flow makes Profit First future-proof. Thanks to Flow Your Money, working with Profit First takes fewer actions and money management becomes even more fun with less hassle."
Flow+ Business powered by Profit First
A Flow+ Business subscription powered by Profit First gives you the right Flow method to automate your business, you also get ten videos from Mike and Femke among others, the audiobook read by Femke Hogema, and access to Profit First coaches for advice.
Download the app to get the Flow+ Business powered by Profit First subscription.
