Episode 77: Transitioning From Check-by-Check to Profitability with Keith Fear

Today, Keith shares his story of how he was trying to develop a business in hot air ballooning for years while working a full time job. While the business revenue grew, their profitability was never enough where they didn’t have to take on debt and were surviving check by check. The most challenging part for Keith was not making enough of an income to replace his full time job. Keith found and implemented Profit First – and the results are nothing short of magnificent. The most interesting part of Keith’s story is that as the business implemented Profit First it actually spawned faster growth than ever before [we’re noticing a consistent trend here]. When businesses take profit first they are forced to become more innovative and find better ways to do things more efficiently… and in many cases the revenue increases. Among the strategies that Keith used he discovered that he had great employees, but they weren’t doing the great things they should be doing, so he shifted them around. Keith also cut expenses that weren’t working for his business and amplified certain marketing methods that worked extremely well.