Allocate profit first

The podcast episode discusses the importance of prioritizing profit in business finances. The host emphasizes the need to allocate profit at the beginning of the month rather than waiting until the end. Using a percentage-based system, a portion of the income should be set aside as profit, which serves as a reward for owning the business. The speaker recommends starting with a small percentage and gradually increasing it over time. By making profit a priority, business owners can shift their mindset and build financial stability.