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Profit First
- Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
- Narrated by: Mike Michalowicz
- Length: 7 hrs and 52 mins
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Publisher's Summary
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, 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 money they always dreamed of.
* This audiobook edition includes exclusive updated commentary by the author.
Critic Reviews
“Quit being a slave to your own business and start making some serious money. Follow Mike’s counter-intuitive advice and put profits first.” —VERNE HARNISH, author of Scaling Up
“Profit First is a brilliant smack-upside-the-head revelation for entrepreneurs. Most small businesses look pretty good on the outside, yet actually struggle to stay afloat. With fascinating stories and wit, Michalowicz shows how to remove your nose from the grindstone, climb out of the quicksand, and build a business that loves you back.” —SALLY HOGSHEAD, author of Fascinate
"Profit First completely transformed how I handle business banking. I hadn't even finished the book before immediately putting a four-account distribution system in place for new income: operating expenses, owner expenses, taxes and profit. Mike's system moved me from break-even to profitable within a month. This book is a must-read for businesses large and small." —JENNY BLAKE, author of Pivot
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- Anonymous User
- 06-11-2023
A must for business owners
The principles are excellent. If you can put up with his silly stories along the way, but I guess that’s part of the narrative
This book has definitely has changed my perspective on my business
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- Anonymous User
- 12-12-2023
Relatable
I think Mike’s genuine approach. And I’ll never look at a tube of toothpaste the same way ever again. ;-)
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- Amazon Customer
- 09-01-2024
every business owner worldwide, must read this book!
so simple and so effective, Profit First teaches you the overall concept AND the fine detail of how to make any business profitable (and explains why this is important) everyone starting out, or running a business, or trying to fix $ problems in your business = this book is relevant to you!
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- Amazon Customer
- 25-11-2023
Really long ad
This is a really long ad for banklikemike dot com. Effectively, this is a guideline to "put your profits aside from any deposit you receive" dragged out to a book without any great insights.
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- Manuel
- 08-09-2023
Rambling. Nothing to learn from
I was hoping to learn something from this book. There is nothing to learn from it. Most is all about stories that are irrelevant to the thesis.
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