Profit First App is an automated SaaS platform that implements the Profit First accounting method for small and mid‑size businesses. It connects to bank accounts via Plaid or ProfitFirst.bank to pull real‑time balances, then uses built‑in calculators and rollout plans to allocate profit, owner’s pay, taxes, and expenses without manual spreadsheets. Tiered subscriptions add tools such as automated allocations, debt reduction, and financial‑planning features.
Funding
Funding not disclosed
Founders
Product
Problem
Many small and medium-sized businesses find it difficult to apply the Profit First accounting method because it requires manual calculations, spreadsheet tracking, and frequent updates of multiple bank account balances. This complexity leads to inconsistent profit allocations and can hinder achieving sustainable profitability.
Solution
The Profit First App provides an official, automated platform that implements the Profit First methodology without manual setup. It connects directly to users' bank accounts—including ProfitFirst.bank and other institutions via Plaid—to pull real-time balances. Built‑in calculators generate CAP and TAP percentages, create quarterly rollout plans, and allocate funds according to the Profit First formula. Video guidance from author Mike Michalowicz helps users adopt the system correctly, while tiered subscription plans unlock additional tools such as automated allocations, debt reduction, and financial planning features.
Target Audience
Primary customers are small to mid‑size business owners and finance managers who want to adopt the Profit First method to improve cash flow and profitability.
Features
- Direct integration with bank accounts (ProfitFirst.bank and other banks via Plaid) for automatic balance updates
- Allocation calculator that computes CAP/TAP percentages and suggests profit, owner's pay, tax, and expense allocations
- Quarterly rollout plan generator to map out stepwise implementation of Profit First targets
- Automated allocation execution for ProfitFirst.bank accounts, eliminating manual transfers
- Debt Crusher tool for structured debt reduction alongside profit allocations
- Vision tool and full financial assessment (Premium tier) for long‑term planning
- Embedded video tutorials from Mike Michalowicz to guide users through setup and best practices