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.
Customer ReviewsSee All
I am a chiropractor and actually just started my practice. I believe that this book has arrived at the perfect time!!! MUST READ!!!
Fantastic Read and has helped my business
Finally, I feel in control of my business and our financial situation. I’ve got to dig my way out of business debt but with this system in place I know we can do it. I only wish I would’ve read this book sooner. I now recommend this book to every person I know that is either currently in business or looking to start a business no matter the size.
Finally, I’m helping pay my family’s bills and working on growing business too.
This is by far my favorite business book thus far. I read at least a book a week, and purely nonfiction, business, or development.
Profit first has made a huge impact on my business life so far & I am so so so thankful that I found this gem.
I am more confident & excited about my businesses future & no longer dreading and worrying about things to come. Living day by day & stressing. Thank you SO much for this book! I can not recommend it enough.