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Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Book details
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Author : Mike
Michalowicz
Pages : 224 pages
Publisher : Portfolio
2017-02-21
Language : English
ISBN-10 : 073521414X
ISBN-13 :
9780735214149
Book Synopsis
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 casheating monsters to profitable
cash cows. Using
Michalowicz s Profit First
system, readers 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-bystep advice, and his signature
sense of humor, Michalowicz
has the game-changing
roadmap for any entrepreneur
to make money they always
dreamed of.