Re-Potting Plants: A Lesson in Money Management

This Christmas break, I decided it was finally time to re-pot my Elkhorn plants. As I got stuck into the process—gathering boards, breaking down the plant, and carefully re-homing it—I couldn't help but see parallels between this gardening task and the Profit First process I use in my business.

But before I even got my hands dirty, I did something crucial: I planned. I took the time to map out what I wanted to achieve, with a clear end vision in mind. I knew I wanted to create multiple healthy plants, each mounted on its own board, and I visualized how they would look thriving on the walls. Starting with a clear plan and goal made all the difference.

This step reminded me of how important it is to begin any financial journey with clarity about where you’re headed. Whether you're tending to plants or managing money, having an end vision keeps you focused and intentional.

Here’s how re-potting my Elkhorns became a surprising, yet perfect metaphor for financial health:

1. Plan and Prepare Your Foundations

The first step was planning the process and gathering the extra boards I’d need to mount the split plants. These boards would provide a solid foundation for each Elkhorn to grow and thrive.

Similarly, in the Profit First system, the first step is planning and creating the "boards" for your finances—your bank accounts. Each account has a purpose: income, profit, taxes, and operating expenses. By envisioning what financial health looks like for you and preparing the structure to support it, you set yourself up for long-term success.

2. Breaking It Down

Next, I took the old plant down and carefully divided it into six new plants. It felt a bit overwhelming at first, but once I started, it became clear how much more potential these individual plants would have once separated.

This is just like breaking down your main bank account into specific Profit First accounts. By dividing your money into dedicated pots, you create clarity and intention. You can clearly see where your money is going and ensure it's working effectively for you.

3. Clear Out the Bugs

As I separated the plants, I found ants, snails, and other unwelcome pests hiding in the roots. These needed to go before the new plants could thrive.

This step reminded me of auditing expenses. Just like pests steal nutrients from your plants, unnecessary expenses can eat away at your finances. By cutting out what doesn’t serve you, you create room for healthy growth.

4. Planting with Care

Once the Elkhorns were divided and cleaned, I tied each one tightly to its new board and hung them on the wall. It took effort and patience to ensure each one was securely in place.

This is similar to setting up your Profit First accounts and processes. You’re essentially “tying” your finances to a firm structure, giving each part a purpose and ensuring it’s supported as it grows.

5. Fertilizing and Protection

After mounting the plants, I sprayed them with fertilizer and treated them for any lingering pests or diseases. This extra step ensured their long-term health.

In Profit First, this is akin to reviewing your financial systems regularly. You might update your allocations or refine your processes, but you’re also protecting your finances from the little “bugs” that could pop up—unnecessary subscriptions, creeping expenses, or habits that no longer serve you.

6. Ongoing Maintenance

Finally, I know these Elkhorns will need regular watering and attention to thrive. The hard work of re-potting is only the beginning; their success depends on consistent care.

The same is true for Profit First. Allocating money to your accounts is just the start. Regularly transferring funds, monitoring your expenses, and staying mindful of your financial goals ensures your system remains strong and healthy.