No one is in business to lose money; however, we’ve been taught that profit is the bottom line, and before thinking of it, we must take care of the expenses, the debts, salaries, and so forth. Therefore, following that old-school thinking, what comes first will get more attention, dedication, and time, and what comes last won’t. Our guest, Ron Saharyan believes the exact opposite; profit must always come first. 

Ron Saharyan, aka Obi Ron Kenobi, is the co-founder and managing director of Profit First Professionals, an international network of accountants, bookkeepers, and financial experts specializing in helping companies increase their earnings using the Profit First method. 

In this episode, Ron shares the backstage of how he and Mike Michalowicz decided to create the Profit First University and the Profit First method in Mike’s basement after a short conversation. We discuss some details of Profit First’s replicable model and the company’s global expansion to over 30 countries. We also delve into the importance of taking accountability for our spending, the problem with debit cards, and how much money we should allocate to the five fundamental bank accounts. 

In this episode, you will learn:

• About the Profit First method (3:47)
• The backstory of Profit First University’s creation (10:05)
• The limiting beliefs about waiting for the right time to put a system in place to help us deal with our finances (14:52)
• About Ron’s hard times during his childhood and how he got inspired by them (21:03)
• The importance of learning to manage our spending (27:28)

Resources

• Connect with Ron on LinkedIn
• Connect with Ron on Twitter
• Profit First University website