The Profit Letters

As you know, we’ve moved to Utah, and lately we’ve been unpacking the garage and closets to get ready for a party this weekend.

In the middle of it all, my husband brought me a box from his office and said, “I think this is yours.”

Inside were three old, envelope-sized wallets.

One was black and sparkly. One had fun pictures on it. One was simple blue leather.

And instantly, I was taken back about ten years.

Back then, I used a full envelope system. I would literally go to the bank, pull out cash, and divide it into envelopes: groceries, gas, clothing, beauty, household—everything. I paid for life in cash.

Even saying it now sounds like a lot. But I did it for a long time.

Inside those wallets were old coupons, handwritten envelopes, even slips with my account and routing number on them. And it reminded me of something important:

Separating money into smaller plates actually works.

Somewhere along the way, many business owners start believing this system is only for people who “don’t have enough money.”

But that couldn’t be further from the truth.

One of my wealthiest friends—Dan—is a Vice President at a bank. He works with clients investing anywhere from $5 million to $100 million. He does very big things with money.

And yet… He organizes his personal finances the same way.

Separate accounts for cars. For home expenses. For groceries. For vacations. For long-term planning.

Small plates.

This is exactly the mindset behind Profit First, the framework Michael Michalowicz became famous for—transforming what he calls a “cash-eating monster” into a money-making machine.

It’s not about scarcity. It’s about alignment. And intention.

That’s why we’re working hard behind the scenes on our February Business Finance Masterclass for Women.

We’re teaching women entrepreneurs how to organize their money, understand their numbers, and stop relying on hope or guesswork to make business decisions.

If that sounds like something you want to be part of, we’d love to have you.

More details coming soon.

Profitably Yours,

Karen Lake

photo