This Week’s Topic: “Profit First Doesn’t Work?” Why You Might Be Wrong – And How to Make It Work for You Estimated Reading Time: 6–7 minutes In this week’s episode of the Profit First Club Podcast, Steven Edwards, Director at Grow Profit First Accountants, unpacks one of the most common objections heard about the system: “Profit First doesn’t work.” But is that really true? Or are there deeper issues at play? This week’s newsletter dives deep into the reasons Profit First may seem ineffective, how to reframe your approach, and a powerful 4-step success framework you can apply to make it work for your business—and your life. Why Some People Say “Profit First Doesn’t Work” Let’s address the elephant in the room: Profit First isn’t magic. It’s not a silver bullet that will instantly fix a broken business model or eliminate financial mismanagement overnight. The Real Issue? It’s Not the System—It’s the Implementation Just like having a gym membership doesn’t automatically get you fit, simply reading the Profit First book won’t transform your finances. You need structure, consistency, and accountability. That’s where most people fall short. Steven compares Profit First to working with a personal trainer: The system is the workout. The trainer is your advisor or accountant. But you still have to show up and do the work. The 4D Success Formula: Why Profit First Fails—and How to Fix It Steven introduces a personal framework that can be applied to Profit First—or any goal: 1. Desire You must want a better business—more profit, less stress, more control. But want isn’t enough. 2. Determination Desire becomes powerful only when it’s a must, not a maybe. You need to be emotionally committed to making it work. 3. Design Do you have a proven framework? Profit First is that framework—but it needs to be applied properly. That includes setting up your accounts, knowing your percentages, and monitoring performance. 4. Discipline Even with a perfect plan, nothing happens without consistency. The businesses that fail to make Profit First work often struggle with this step the most. Insight: You can have desire, determination, and design—but without discipline, you’ll still fail. When Profit First Can’t Save You Profit First isn’t for every business—especially those with flawed financial foundations. Steven shares the example of an Amazon seller with £1M revenue, but just £80K gross profit—before overheads. The result? Less than minimum wage after expenses. In this case, no system will save you until the underlying business model is changed. Takeaway: Profit First doesn’t fix unprofitable models. It works best in businesses with a solid foundation but poor financial habits. Are You Addressing All Four Functions in Your Business? Many entrepreneurs expect Profit First to fix everything—but financial systems are just one part of the business. You also need to evaluate: Finance – Profit First, cash flow, KPIs Marketing – Customer acquisition, lead gen, visibility Operations – Delivery, systems, quality control HR – Recruitment, culture, team performance If these are broken, even the best financial system will struggle to gain traction. <...