We believe that it’s not about how much you earn; it’s about how much you KEEP.


JMD Business Solutions is one of the select firms nationwide that has received certification in the Profit First method of cash management.

Anyone can provide bookkeeping support, but as a Profit First professional, we are committed to providing our clients the highest level of profit-driven support and using our specialized toolkit and proven methods to bring clarity and confidence to clients. Why? So they can take care of their most important employee first: YOU as the business owner!

What is Profit First?

Profit First is a cash management system that focuses on an effective accounting strategy that will transform your business from a cash-eating monster into a money-making machine. Profit First, written by Mike Michalowicz, explains why traditional accounting is contradictory to human behavior because it traps business owners in a panic driven cycle of operating check-to-check (you relate?).

The Profit First system is what we implement with clients to stop that spinning wheel and start putting PROFIT back into your pocket with your very next deposit. 

Time for you to jump off that spinning wheel of chronic bank balance accounting into the support, accountability, peace of mind, and immediate results you’ll get from working with me? Let’s do it! 

“Profit is not an event. It's a habit.”
― Mike Michalowicz

We believe that higher profits = more opportunity for impact.

And isn’t that what you’ve been called to as leaders?

Maybe your business is a cash-eating monster, and you don’t know how to make it better. Maybe you want the desire for increased profits to drive your business decisions, but you’re too deep in overwhelm to know how to even start. Maybe your relationships are struggling, and you’re desperate for something to change for the better.


Whatever your specific situation might be (and believe me -- we’ve seen them all), you don’t have to feel alone anymore. There’s hope for any amount of overwhelm, frustration, and strife and opportunity for so much good to happen. You can get back to what you love. 

The numbers really do tell the story, and through specific profit strategy, we can get to a better place together.

Frequently Asked Questions

More bank accounts will result in a lot more bookkeeping work. Is Profit First really worth the effort?

Profit First is absolutely worth the effort! The additional accounts are easy to manage and reconcile. More importantly, the Profit First benefits of instantly knowing what money is allocated to what purpose will have profound effects on the financial health of your business.

Since Profit, Tax, and Owner Pay are all for my benefit, can I just put the money into one account?

No. While the money allocated to these accounts does benefit the owner(s), the use of the money in each account is distinct. Owner’s Comp is for the owner’s salary or regular distribution. The Profit account is used as a quarterly bonus (and also functions as a rainy day fund, or be used for a “Death to Debt” quarterly distribution.) The Tax account is used to pay the owner’s taxes and any business taxes. So while the money does all benefit the owner, the accounts need to be kept separate so you can instantly tell just by looking at your bank balance what money is allocated for which purpose.

Where do I pull the money from if I don’t have enough money to pay expenses from my Operating Expense account?

This is the “moment of reckoning”. The moment will come for every business when there is not enough money in the Operating Expense account to cover all the Expenses. You may NOT use other money. Your business is yelling at you and shaking you saying you CAN’T afford all these expenses. Reduce your expenses and find a way to pay what you owe when the next allocation to OpEx comes in. But no matter what, you must cut your expenses.

Should Profit First be implemented retroactively?

No. The allocations start the day you implement Profit First, with your very next deposit. Start by fully funding the expenses you currently have and give yourself time to cut your expenses. You can start by putting aside just 1% into a profit account while you figure it all out and slowly decrease the money you spend on Operating Expenses.

My business has debt. I can’t be profitable until I pay off all my debt.

The only way to pay off debt (which is simply past expenses that you haven’t paid for yet) is to be profitable. You must make more money than you are currently spending in order to have current profits. You then use those profits to pay off the debt.

My business is brand new. When should I implement Profit First?

The sooner you start with Profit First, the sooner you will master financial discipline and force your business to run efficiently. No matter how new or established your business is, you should not wait to implement Profit First.

Can I implement the Profit First system before my business is profitable?

If your business is not profitable, you need to implement Profit First right away! Implementing Profit First forces profitability rather than waiting for it. Start with low allocation percentages - like 1% to Profit and Tax - but don't wait to get started!

Why is the Tax allocation 15%? It seems very high.

The Tax account is intended to pay corporate taxes due on the business' profits AND the personal taxes of the business owner(s), even if the business owner has taxes withheld from their payroll. 15% of Real Revenue is typically enough to cover these taxes, but some © 2015 Profit First Professionals, LLC businesses with low operating expenses and high profits may have to allocate more than 15%

I want to pay as few taxes as possible. Shouldn’t I run up expenses to cut taxes?

That is the most damaging myth of money management. Running up expenses to reduce taxes is the same as spending $10 to save $3. It is very damaging to the business. The goal is to run the business as profitably as possible (that is the only way to achieve financial freedom.) You should work closely with a Profit First Professional to additionally reduce your tax liabilities as much as you can.

Does Profit First translate into personal finances?

Yes. This is explained in more detail in "The Profit FIrst Lifestyle" section of Profit First, but the premise is the same. Set up multiple bank accounts: Income (for deposits only,) Vault (savings account to cover the unexpected,) Recurring Payments (for recurring fixed, varying, and short-term bills,) Day to Day (for groceries, school supplies, etc.,) and Debt Destroyer (all money remaining after allocation to the previous four accounts goes into this account.) Then, determine your allocation percentages and your allocation schedule. Most importantly, STICK WITH IT, even when it gets hard


Ready to start planning for more profit in your business?

Download the first two chapters of the best-selling book, Profit First

and start putting the profit where it really belongs -- in your hands!