ADHD and Profit First Principles, what they have in common?

Let’s apply the Profit First methodology. It can offer several advantages to business owners who struggle with ADHD (Attention Deficit Hyperactivity Disorder):

adhd and money

How do we improve the current situation when ADHD gets in the way of our personal wealth. That includes money spending and overall relationship with money? We introduce principles of PROFIT FIRST

1. Simplicity and Structure: Profit First provides a straightforward and structured system for managing finances. It is particularly helpful for individuals who may struggle with organizational tasks and maintaining focus on complex financial matters.

2. Clear Allocation of Funds: The Profit First system involves allocating revenue to different accounts for specific purposes. This clear allocation can help individuals with ADHD by providing a visual representation of where money should be allocated, making it easier to manage finances effectively. One doesn’t get overwhelmed with complicated excel sheets. Just open bank account like Starling Bank and you’re on path of success.

3.Emphasis on Behavioral Change: Profit First emphasizes changing the behavior of business owners by prioritizing profit and ensuring that it is set aside from the beginning.  It helps establish habits and routines that promote financial stability and success.

4. Reduced Financial Stress: By ensuring that profit is prioritized and setting aside funds for taxes and other expenses, Profit First can help reduce financial stress for business owners. We all know that managing finances can often be overwhelming and stressful.

5. Focus on Small, Manageable Steps: Profit First encourages taking small, manageable steps towards financial goals.  Individuals with ADHD may otherwise struggle with maintaining focus on long-term objectives. Breaking down financial tasks into smaller, more manageable steps can make them feel more achievable and reduce feelings of overwhelm.

6.Increased Accountability: Implementing Profit First involves regularly reviewing financial accounts and tracking expenses. This can increase accountability for business owners.

Overall, applying the Profit First methodology can provide structure, clarity, and behavioral reinforcement that may be particularly beneficial for business owners with ADHD, helping them to better manage their finances and achieve greater success in their businesses.



Contact us below or another Profit First Professionals to help you with your finances or