💡 Tip of the Week
Make Profit and Tax harder to touch, open those reserve accounts at a second bank and move your allocations there.
Why it works: the slight friction protects profit, and it trains better decisions.
In This Issue
|
1
|
What a great small-business bank looks like, and why it matters for Profit First
|
› |
|
2
|
Score your current bank in minutes with our Small Business Bank Scorecard
|
› |
|
3
|
Browse our bank database with real scores and options
|
› |
Presented by
|
|
|
Fractional CFO — Numbers → Strategy
Pair deep financial insight with mentoring. We translate your data into decisions, set targets, and meet regularly to keep execution tight and make you smarter with your money.
|
✓
Profit and Cash Flow Strategy Profit First Implementation and maintenance
|
|
✓
Pricing & margin analysis with clear thresholds
|
|
✓
Monthly financial coaching to drive results
|
Teach. Plan. Execute. Repeat.
|
|
|
|
|
Choose a Bank That Powers Profit First
|
At a Glance
• Most banks are either a quiet ally, or a drag on your time and cash.
• The right bank makes Profit First easy, fees low, and accounting clean.
• Use the scorecard in the attached PDF to get a clear number, then act with confidence.
|
The Right Bank Makes Profit First Easy
When owners begin Profit First, the bank often shows its true colors. Fees add up, savings earns little, online tools feel clunky, and regular allocations take too long. That friction steals focus and costs money. A great bank, by contrast, makes your system smooth so you can allocate quickly, stay disciplined, and keep your margins strong.
What a Great Small-Business Bank Looks Like
These are the criteria we use when evaluating banks for clients. Use them as your checklist.
|
Profit First compatible
Multiple accounts are simple to open, transfers are quick, allocations feel natural.
|
|
|
Low, predictable fees
Little or no charges for multiple accounts and low balances.
|
|
|
High-yield savings
Competitive APY for Profit and Tax reserves.
|
|
|
Business banking services
Dependable ACH, clean bill pay, clear permissions and approvals.
|
|
|
Online access and usability
Fast and intuitive on web and mobile, allocations are simple.
|
|
|
QuickBooks integrations
Stable, detailed feeds that keep accounting clean.
|
|
|
Ease of opening accounts
Quick digital process with minimal friction.
|
|
|
Accessibility when needed
Convenient branches or strong support when in-person matters.
|
|
Evaluate Your Bank in Minutes
Inside the attached Ultimate Bank Guide, you will find our Small Business Bank Scorecard. Score each criterion from one to five, average them, and you will know exactly where you stand. A score of four or better means keep going, three to three point nine means weigh trade-offs and fix friction, below three means it is time to switch with a simple plan. The worksheet in the PDF walks you through this in just a few minutes.
See Real-World Options
We have included a Bank Database inside the same download, with many institutions we and our clients have used, plus notes and scores on the key criteria. It is not exhaustive, there are thousands of banks nationwide, but it will help you narrow the field quickly and choose strong candidates if you decide to switch.
|
Pro Tip, Use Two Banks on Purpose
Keep your operating accounts at the bank that wins on usability and speed, then hold Profit and Tax at a separate bank with great rates and fewer temptations. Making those funds slightly harder to access creates healthy friction that protects profit, reduces impulse transfers, and builds real discipline.
|
The Bottom Line
Pick a bank that supports your system, not one you have to fight. Score your current bank with the attached tool, compare a few alternatives in the database, and make the move that lowers fees, increases yield, and speeds up allocations. The right choice gives you time back every week, and real money back every month.
Want Personal Help?
Reply to this email and I will review your score with you, suggest two or three banks that fit your model, and map a clean, step by step switch plan so payroll and vendor payments stay smooth.
P.S. Your Download
The attached Ultimate Bank Guide includes the full criteria, the scorecard tool, and the live bank database.
How do you like this edition of The Profit Shift?
|
