In this episode, I’m talking about one of the biggest misunderstandings I see in business — the belief that profit is something that happens after you’ve worked hard enough.

For many business owners, profit is treated like a leftover. Something that might appear at the end of the year if there’s anything left in the bank. And that way of thinking is exactly why so many capable, hard-working people feel constant financial pressure.

I explain why the traditional formula — sales minus expenses equals profit — quietly encourages overspending and keeps businesses stuck in a cycle of stress. When expenses are allowed to grow without clear boundaries, profit never gets the chance to take priority.

In this episode, I share why profit needs to be a design decision, not a reward for effort, and how putting simple constraints in place changes the way a business behaves. When spending has limits, decisions become clearer, cashflow improves, and the business starts to support your life — not drain it.

If you want to stop working harder for the same results and start building a financially healthy business by design, this episode will shift how you think about profit from the ground up.

Takeaways:

1. Profit is not merely a reward for hard work; it is fundamentally a design decision made in advance.
2. The traditional formula of sales minus expenses equals profit perpetuates detrimental spending habits within businesses.
3. Financially healthy businesses prioritize profit and operate within defined financial boundaries to ensure sustainability.
4. The psychological aspect of finance reveals that humans manage visible funds rather than abstract concepts like profits or taxes.
5. Intentional profit allocation transforms a business's approach to spending, ensuring long-term financial health and resilience.
6. Recognizing the need for structural changes in business design can lead to improved financial outcomes and reduced stress.

Links referenced in this episode:

1. debhalladay.co.uk

Companies mentioned in this episode:

1. Accounts Ladies
2. Accounts Office

How do you make profit a regular feature of your business—not just a one-off win? In this episode, I’m sharing the real-world steps to keep the Profit First system working for you, year after year.

I’m Deb Halliday, certified Profit First Professional, and I’ll show you why consistency is the secret to turning profit into a normal, sustainable part of your business. We’ll cover the importance of regularly reviewing and tweaking your allocation percentages as your business grows and changes, so your profit strategy always fits your current reality.

You’ll hear how automation can take the hassle out of monthly allocations—using tools like Xero, QuickBooks, and smart UK banks like Starling and Monzo—so you never have to worry about missing a transfer or dipping into the wrong pot. I’ll share stories from real business owners who’ve seen their profits grow by making small, regular adjustments and keeping their system simple.

We’ll also talk about using your profit as more than just a safety net. Think of it as your “opportunity fund”—ready to support growth, new equipment, marketing, or staff development, once you’ve paid yourself your profit bonus.

Whether your margins are tight or you’re looking for ways to grow, this episode will help you build a business that doesn’t just survive but truly thrives—by making profit an everyday habit.

Takeaways:

• Consistency is key: review and adjust your allocations regularly
• Automate your allocations for less stress and more discipline
• Use profit as an opportunity fund for growth and reinvestment
• Even small profit allocations can make a big difference over time
• Stay flexible and adapt your system as your business evolves

Links mentioned:

debhalliday.co.uk

Companies and resources featured:

Xero, QuickBooks, Starling, Monzo, HMRC

In this episode, we’re tackling the biggest mistakes business owners make when implementing Profit First—and how you can avoid them to keep your finances on track. I’m Deb Halliday, certified Profit First Professional, and I’ll walk you through three common pitfalls I see time and again with UK businesses.

First up: neglecting your tax account. It’s all too tempting to dip into those tax funds when cash is tight, but this can lead to serious headaches with HMRC down the line. I’ll share why treating your tax account as completely off-limits is one of the smartest moves you can make.

Next, we’ll talk about the importance of consistency. Profit First only works when you stick to a regular schedule for allocating your money. I’ll give you practical tips for setting up a routine—so you don’t fall into the trap of skipping allocations during busy periods and missing out on profit.

Finally, we’ll tackle lifestyle creep. As your business grows, it can be tempting to let your expenses grow too. I’ll show you how keeping a lean approach to operating costs can double your profits, with a real-life success story to prove it.

Whether you’re new to Profit First or want to tighten up your current system, this episode is packed with actionable advice to help you build a business that truly works for you.

Takeaways:

• Keep your tax account untouchable to avoid future financial stress.
• Stick to a consistent allocation schedule for best results.
• Watch out for lifestyle creep—keep expenses lean as revenue grows.
• Regularly audit your costs and cut what you don’t need.
• Prioritise tax allocations to stay ahead of HMRC.
• Make regular allocations a habit to build a stronger, healthier business.

Links mentioned:

debhalliday.co.uk