This Week’s Profit First Club Newsletter Estimated Read Time: 4 mins Hey Profit First Champions, It’s Stephen Edwards from We Are Gro Accountants, and welcome to this week’s edition of the Profit First Club Newsletter. Whether you’re joining us from the podcast, YouTube, or our Beehive newsletter, we’re glad to have you here. This week, we’re diving into a critical concept: Having a Numbers Plan. It’s a topic I’ve been talking to a lot of clients about recently—and it’s foundational whether or not you’re using Profit First (though we obviously think you should be ). The Numbers Plan: Why It Matters When many of us started our businesses, the “numbers plan” was as simple as: Can I pay the mortgage this month? Over time, the business grows, revenues increase—but profitability often gets pinched. That’s where Profit First shines, giving us structure and intention. But the real magic comes from zooming out and asking: Do I have a clear, intentional numbers plan guiding my decisions? If you’re just winging it—taking on any job, hiring without a plan, pricing based on guesswork—you’re likely stuck in amateur mode. We all start there. But the pros? They know their numbers. They forecast. They budget. They pay taxes on time. They track progress. That’s what transforms a business into a tool for life freedom. A Real-World Analogy Think of your business like a house. Ours is a 1930s home that’s had a few extensions over the years—lovely character, but you’d never design it this way from scratch. The same is true for most businesses. If you were starting fresh, would you run things the same way? That’s why building a numbers plan is about intention. Want to take home £50,000 a year? Great. Now work backwards: What revenue do you need? What are your costs? Taxes? Marketing spend? Map it all out. Simple Example: Let’s say you run a £100k construction business: Cost of sales = 30% → £30k Gross profit = £70k Need £60k pre-tax income to net £50k That leaves only £10k for overheads That’s tight! Without a numbers plan, you won’t spot this problem until it’s too late. Why Profit First Is the Perfect Tool Profit First gives you benchmarks to aim for—and it works whether you’re at £80k or £800k revenue. We help clients work toward their life number—what they need to live the life they want. Combine that with industry benchmarks, strategic tweaks, and a commitment to small, consistent improvements, and you’ll be amazed at the transformation. The numbers don’t lie. But they do need a plan. Action Step: Start Your Numbers Plan Here’s how to get started: Define your life number (e.g. £50k take-home) Map your revenue and cost targets backward Build a simple budget or forecast model Review and refine it monthly If you’re unsure where to start, that’s what we’re here for. Let’s Talk Want to see what it looks like to build a numbers plan with our team? Drop us a message or visit our site: wearegro.co.uk Until next time, keep putting Profit First.