Profit First

The author, Mike Michalowicz co-founded Profit First Professionals, a membership association of accountants, bookkeepers, and business coaches that teach the Profit First method. He is a former Wall Street Journal writer, a prominent speaker, and has spoken about business and entrepreneurship at TEDx, creativeLIVE, INCmty, and other events. He is the author of The Toilet Paper Entrepreneur and The Pumpkin Plan. Entrepreneur Magazine, Open Forum, and Harvard Business Review have all published his columns. In this book, the author proposes a simple, counterintuitive cash management strategy that will help small businesses break free from the doom spiral and reach quick success.

Traditional accounting employs the logical (albeit incorrect) formula: Sales - Expenses = Profit. The difficulty is that businesses are controlled by people, and people aren't always logical. Serial entrepreneur Mike Michalowicz has created a behavioral accounting system that flips the formula: Sales - Profit = Expenses. Just as the most effective weight loss method is to limit portions by using smaller plates, Michalowicz demonstrates how entrepreneurs can change their firms from cash-eating monsters to successful cash cows by prioritizing profit and allocating only what remains for expenditures. Readers will discover using Michalowicz's Profit First system:

• By looking at bank account balances, you may simplify accounting and make it easier to maintain a profitable business by following four easy concepts.
• A small, profitable business can be worth much more than a large, unprofitable business.
• Businesses that achieve early and sustained profitability have a better chance of achieving long-term growth.

Michalowicz offers the game-changing roadmap for any entrepreneur to get the money they always dreamed of, with dozens of case studies, practical, step-by-step instruction, and his characteristic sense of humor. Profit First is exactly among the best books on accounting.

“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

Author: Mike Michalowicz

Link to buy: https://www.amazon.com/gp/aw/d/073521414X/

Ratings: 4.8 out of 5 stars (from 6378 reviews)

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