Some books are life changing, and I think this is one of them, I loved it. Because, like many business owners, I often dont really know whats going on with my Having had a few misadventures with past business ventures, I came to realise that while I successfully provided a much needed service, I really lacked the required accounting acumen to keep those businesses running for the long term.
Now finding myself surplus to Along with the audiobook, this printed book provides an excellent insight and guide to a business can financial management concept, coined Profit First.
Although the concept itself is straight forward, the author carefully provides great depth and analysis around why it 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 arent 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 Michalowiczs Profit First system, readers will learn that:
Followingsimple 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 than a large business surviving on its top line,
Businesses that attain early and sustained profitability have a better shot at achievinglong 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.
I was recommended this book by a group of business owners, I am only half way through this book, but I loved the way Mike talked to me right from page one.
Its powerful, its easy to read, and for those no numbers kinda business owners I don't think its too overwhelming! I've owned this book for a while but was constantly distracted from reading it due to pressures of my business and life itself.
Damn that, I wish I'd worked through it so much sooner, Mike and his teaching on how to turn your business finances into profit/ profit are One of the best books I have read about how to manage your own business.
Simple to understand and implicate immediately to have a smart, methodical, profitable, and carefree business, This book and system is brilliant , it has saved me from a sea of mathematics, I was lost until I read it, Thank you. This is an ESSENTIAL buy for any business owner! It has transformed my coaching business and my life through changing how I think about money and profit.
Having a profit potst before sales of expenses is genius to create an abundant mindset get rid financial of scarcity
By histh 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, He is the author of Fix This Next, an instant Wall Street Journal Bestseller, The Pumpkin Plan, Surge and The Toilet Paper Entrepreneur.
His newest book, Get Different, teaches entrepreneurs how to creating marketing that cant be ignored,
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 business makeover specialist on MSNBC, Mike is a popular main stage keynote speaker on innovative entrepreneurial topics and is the author of Get Different, 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 overlanguages,