| Title | Profit First |
| Author | Mike Michalowicz |
| Type | Business |
| Year of Publication | July 4, 2014 |
| Language | English |
| File Format | |
| Number of Pages | 178 |
| Rating | Click to rate this post! [Total: 1 Average: 5] |
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine Book By Mike Michalowicz Author of cult classics, The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple and 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 that business is run by humans, and humans are not always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to change the formula: Sales – Profit = Expenses. Just as the most effective weight loss strategy is to limit servings using smaller plates, Michalowicz shows that by taking profits first and distributing only what is left over expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cows. Using Michalowicz’s Profit First system, readers will learn that:
· Following 4 simple principles can simplify accounting and make it easier to run a profitable business by looking at bank account balances.
· A small and profitable business can be worth much more than a large business that survives on its top line.
· Companies that achieve early and sustained profitability have a better chance of achieving long-term growth.
With dozens of case studies, step-by-step practical advice, and his signature sense of humor, Michalowicz has the revolutionary roadmap for any entrepreneur to earn the money he or she always dreamed of.
Table of Contents
Profit First Summary
You are about to discover the profoundly simple but surprisingly effective accounting plugin that will transform your business from a monster that eats cash into a money machine. In Profit First, Mike Michalowicz, author of The Pumpkin Plan & The Toilet Paper Entrepreneur, explains why the GAAP method of accounting is contrary to human nature, trapping entrepreneurs in the panic cycle of check-to-check operation and reveals why What’s New The method is the easiest and smartest way to ensure that your business becomes hugely profitable (and permanently) from your next future deposit.
Profit First Review
Profit First is a brilliant revelation for entrepreneurs. Most small businesses look great on the outside but actually struggle to stay afloat. With fascinating stories and wit, Michalowicz shows you how to take your nose off the whetstone, break out of the quicksand, and build a business that wants you back.
About The Author of The Book Mike Michalowicz
By his 35th birthday, MIKE MICHALOWICZ (pronounced mi-‘kal-o-wits) had founded and sold two multi-million dollar companies.
Confident that he had the formula to success, he became a small business angel investor… and proceeded to lose his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies to you.
Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. And his latest, arguably most impactful discovery, is Fix This Next. In Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions).
Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and a business makeover specialist on MSNBC. Mike is a popular main-stage keynote speaker on innovative entrepreneurial topics; and is the author of Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan, and The Toilet Paper Entrepreneur.
Fabled author, Simon Sinek deemed Mike Michalowicz “…the top contender for the patron saint of entrepreneurs.”
Mike is also a guest lecturer for collegiate entrepreneurial programs such as Babson, Boston College, Columbia, Copenhagen Business School, Emerson, Harvard, Penn State, Pepperdine, and Princeton. His books are in the core curriculum for entrepreneur students at Pepperdine, Carnegie Mellon, Stanford University, and universities across the country. His books have been translated into over 10 languages.
Profit First PDF
