Profit First
Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
About the book
Serial entrepreneur Mike Michalowicz, author of The Toilet Paper Entrepreneur and The Pumpkin Plan, reverses the usual accounting formula. Instead of sales minus expenses equals profit, he proposes sales minus profit equals expenses, on the grounds that businesses are run by people, who do not always act logically. The comparison he draws is with dieting: just as smaller plates limit portions, setting profit aside first leaves only what remains for spending. His system rests on four principles and lets owners manage by looking at bank account balances. He argues that a small profitable business can be worth more than a large one living off its top line, and backs the method with dozens of case studies.
Jacqui Pretty, who founded Grammar Factory, said it transformed how her company manages its finances, and SEO expert Bill Widmer recommended it for learning to put profit first in a business.
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This book has 2 recommendations
Jacqui Pretty (Founder/Grammar Factory)
The most recent business book I found that had a transformative impact on my business is Profit First by Mike Michalowicz, which completely changed the way we manage our finances at Grammar Factory.
Bill Widmer (Freelance Content Marketing & SEO Expert)
I also recommend Profit First by Mike Michalowicz to learn how to put profit first in your business.
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