Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expense = 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, listeners 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 the money they always dreamed of.
Customer ReviewsSee All
This book is awesome
I finished clockwork last week and had to get this book. So glad I did. I’m looking forward to making changes to my businesses. Thanks mike your the man!!!!!
A must read book, transformed the way I look at business. Thank you Mike.
NOT for real entrepreneurs
This audio book got three stars because I’m sure it will help SOME business owners. But I wouldn’t call them entrepreneurs, as the author does. Maybe WANTtrepreneurs.
Some of the recommendations are “look at your P&L” and “pay yourself first”..... I mean, if you’re a business owner and you’re not looking at your books, setting goals and projections, then you’re not a real business owner. You just have a hobby. Or you’re just plain stupid.
So yes, this book will help SOME really stupid people who know very little about business.
PS: The author’s jokes are painfully bad.