You are about to discover the profoundly simple yet shockingly effective accounting plug-in that will transform your business from a cash eating monster into a money making machine. In Profit First, Mike Michalowicz, author of The Pumpkin Plan and The Toilet Paper Entrepreneur, explains why the GAAP accounting method is contrary to human nature, trapping entrepreneurs in the panic-driven cycle of operating check-to-check and reveals why this new method is the easiest and smartest way to ensure your business becomes wildly (and permanently) profitable from your very next deposit forward.
©2014 Mike Michalowicz (P)2014 Mike Michalowicz
As entrepreneurs we tend to have a lot on our plate. This book made me understand and simplify my accounts in a clear and concise manner. A practical to the point book. Recommended!
Lots of useful stuff in this book and delivered humorously so it's very easy to listen to. The hard copy may be more useful as it has the graphs etc available right where you are, whereas with the audio book you need to go online when you have free time and find the information there and try to remember what it pertains to. I have started making small changes already - it will be a while before I can implement all steps but that's OK! Will listen again many times.
A great book for established entrepreneurs or small business owners. If you are listening to Audible, I recommend grabbing the free downloads from the authors website when prompted so you can follow along. The author reads his own text, and adds extra commentary here and there which had me laughing out loud at some points.
If you have a business, and want to finesse your financials, I recommend this book.
"This book helped me solve problems"
I had listened to the to Michalowicz's book,The Pumpkin Plan, a couple of time before listening to Profit First. While the Pumpkin Plan deals with selling something unique to great clients in a systematized way, Profit First deals more with personal business management.
The author's website has several resources, such as the "Profit First One-Sheet"". This pdf is like a one page action sheet that summarizes the book's recommendations. Without listening to the book, the Profit First One-Sheet looks pretty dry. After listening to the book, it looks pretty exciting because you can see the possibilities offered by using this structured process.
Michalowicz understands issues that small entrepreneurs/business owners face. I got the sense that I have challenges common to many small businesses. Before finishing the book, I had already implemented processes and strategies that immediately saved me money and are making my business more fun.
The E-myth Revisited was mentioned in this book, and I feel that the two books complement each other.
I don't think this is a book for someone who has a comfortable job that they are happy with. It's really written for entrepreneurs.
"A must read for the small business owner.."
The simplicity of the idea, i have been running my own business for over twelve years and always struggle with finances.. i now take a regular profit payment and all of our account categories are covered every month.. A real eye opener and a must read (or listen) for any business owner..
I have read all of Mike's books.. so yes.
No, not really, i enjoyed the programme..
Just the concept of the idea.. its so simple..
Yes, i wish i could get my Audio books to download in chapters.. its a bit annoying not being able to go back to a particular chapter and re-listen..
"Great Advice For Every SMB"
Profit First encouraged me to look at my business differently. It challenges traditional assumptions of how you run your business and account for profits. The 'old way' was sales minus expenses equals profit. This book, as the obvious title indicates, starts with profits first.
Mike Michalowicz is easy to listen to. He uses plain language and practical examples. Often he deviates from the written version and adds his own ad-lib insights or additional stories.
One other cool thing that I really appreciate (and wish more audiobooks offered) is a link to the author's website where any of the worksheets, graphics, charts, etc can be found. These are free downloads from the site and a good companion for the audiobook.
"Dave Ramsey and Suzie Orman"
It's Ramsey and Orman applied to business. Not much more than that. Easy to listen. Could've been shorter but that's ok.
"Simple Yet Powerful Approach 2 Profitable Business"
Simple, Powerful, Atainable
Changes your thinking.
For me, this book changed the game in how I was looking at how to manage money in my (upcoming) small buy-n-hold real estate business. Changes how you think about owner compensation and profit and changes your thinking in terms of your business working for you, not you working for your business. Also lays out good processes for engaging others to hold yourself accountable. It also talks about how the typical "business plan" is worthless because you really have no specific idea how you will grow from a tiny one man band to a giant corporate conglomerate. Rather than getting frustrated or lost by some complex multi-year business plan that probably has no basis in reality, its' focus is on defining what your prosperity vision is and working 90-day plans to guide you towards that vision.
"Way Longer Than Necessary"
The idea is great but he wasted so much time with his stories about exercise and repeating. The book could've been half as long without missing anything.
"top 5 business book I've read... Easily"
I rarely review books but this one blew my mind so much that I'm compelled… First there's no question this book change my life and will change how I do business forever. This book gave me everything I need to feel like a master of my companies numbers and competent in accounting. Also the author/ reader is hilarious authentic brilliant and I think I love him (but not in that way).
"Extremely helpful accounting mindshift"
Really hit home for me and explained some of the issues we're having with the owner (me) positioning myself to work almost exclusively on the business as suggested by other books and people eating away at profit.
Mike did a good job narrating and I enjoyed his humor.
"A must read for any small business owner"
Started applying as soon as I finished. Has made owning a business way more fun.
"An interesting idea, explained too much"
The simple and yet revolutionary idea - that we should take profit from day 1. It is so traditional in startup world to say "we are still growing", work yourself off and forget about reaping the benefits.
The narration was fine, just that the whole book could be 2 hours, not 6 hours.
This is a book that tells you that you've been doing it wrong.
..and he's right.
If you are thinking of starting in business or are in business and don't have cash left each month, quarter and year then you need this book.
I'm English and don't like 'salesy' but this is not. Well written, goes off the book now and again and give it heart.
Read this book and then give it to your CFO, bookkeeper and accountant it will change your world.
"best business book I have read and I have read a l"
best accounting business book I have listened to or read ... and I have read a lot ..
"Formalises common sense"
This is an informative listen with practical advice on a system that could help you run your business finances in a sensible manner. In many ways it simply formalises common sense to help you avoid going off the rails with your spending. It does come with a bit of a sales pitch for Profit First add-ons, which slightly discredits the system for me, personally - if the author has a vested interest in steering you towards using his services, then can you be sure the system he is proposing isn't unnecessarily tilted in his favour? However, on balance I think it is still worth a listen, albeit with a hint of healthy scepticism in places.
"I loved this book"
This book was brilliant. Mike was such an interesting speaker and his passion for the material was obvious. It was a mix of fantastic information and a motivational speech. I feel equipped to go and start the system ( and have already...) if you are struggling to drive a profit, watching your costs grow and thinking, when do I make any money then listen to this book! I am about to start my third listen this week. Thanks Mike
"I've had an epiphany! Thanks Mike!"
Excellent! This is going to change our business and our lives. Love the honest, matter of fact way of putting things.
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