Profit First - Mike Michalowicz

Profit First

By Mike Michalowicz

  • Release Date: 2017-01-18
  • Genre: Small Business & Entrepreneurship
Profit First book review score

4.5 Score: 4.5 (From 11 Ratings)

Profit First Mike Michalowicz Book Review Score: ★★★★★ 5/5 stars

Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability.

Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that:

· Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances.
· A small, profitable business can be worth much more than a large business surviving on its top line.
· Businesses that attain early and sustained profitability have a better shot at achieving long-term growth.

With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of.

Profit First Mike Michalowicz epub; Profit First read online; Profit First book review; book recommendations; Profit First Audiobook; Small Business & Entrepreneurship books;.

User reviews about this book

  • Best book for understanding your business

    5
    By Wendy Rusnell
    In less than a week I have learned and implemented strategies to become profitable in my business for the first time! Can’t wait to see the results a year down the road!
  • LOVE it!

    5
    By Kaytee Lauren
    I have had this book on my to-read list for months. I finally started it and can’t get enough of it. I bought the audio version after hiring Mike on a podcast. Not only is it so much faster to get through, it’s easier to understand and Mike is very animated which makes it fun. I have implemented everything step by step that Mike instructs and feel as if I finally have someone on my side to help me with my business finances with the goal to grow it in the future. I am now able to understand how to be disciplined and manage the income I have, so that I can do bigger and better things with the income to come. Although the book talks a lot to the small companies makes $25 million and under, I have a VERY small business (under $50k) and the principles still apply. I wish more people knew about this way of doing things, because I am surrounded by entrepreneurs just like me who say “I’m hoping to increase my sales, because right now my business takes everything and I have pennies to live on.” This books transforms that way of thinking and helps you understand that it’s not the dollar amount coming in, it’s the what you do with those dollars. Thank you for this book Mike!

Leave here your review