Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Written by:
Mike Michalowicz
Narrated by:
Mike Michalowicz
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Ratings
Book
218
Narrator
42
Release Date
March 2017
Duration
8 hours 36 minutes
Summary
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 cash-eating 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 achieiving long-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.
Reviews
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Gerald b

This book opens up that third eye and get you out of your comfort zone I really appreciate

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Robert K.

I think you should read this book for one reason - Mike talks about things that he only could know from his own very difficult struggles running a business. this is in contrast to the endless other business books written by others who say nice things but leave you scratching your head at the end wondering what YOU should take action on. this book actually gives you tons of actionable steps. is the book perfect? no. Is there information here that you already know deep down you should be doing? probably. but he has admittedly done a very good job rewording what you probably already know you should be doing in a way that makes it fresh. a recommended read.

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Marian C.

Best business book that I have ever read really opened my eyes to areas to improve in my business accounting

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Taylor I.

While Mike had some good points, I didn't enjoy how often he swore and took God's name in vain. For a business book, I felt like this was unnecessarily offensive. Ultimately, that made me set the book down after listening to half of it. The other thing that I wasn't a huge fan of was that the book didn't get to tangible takeaways until three hours in. As an accountant, many of the topics were not new to me and I personally didn't get value until he a few hours in. However, if the language doesn't bother you, and you've got time to spare or aren't familiar with business, this would be a good book for you.

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Anonymous

The author/narrator was a great idea his humor is actually as good too. This stuff is great, such a good way of looking at what a healthy running business should look like.

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Anonymous

Best book ever!! Very insightful and educational. I love the authors' sense of humor, lol. You can truly tell the author care about eradicating entrepreneurial poverty. He really wants to help! You can feel his passion.

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Anonymous

Recommended to everyone who runs a business or wants to. Concepts from this book apply to personal life and non entrepreneurs as well.

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Anonymous

Fantastic!!

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Linda MacGillicuddy

brilliant, listening for a second time and implementing in my business

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Remi N.

Not only did I listen to it 3 times but I also practice profit first in my business and personal finances

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Anonymous

excellent information

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Sayed S.

It's a good book of knowledge, but the amount of waffle is unbelievable. This books could be cut in half. I prefer books that are straight to the point, a bit of side tracking is okay, but not to this level! Bloody hell!

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Maurice N.

Hi Michael I am a small family business owner in Australia. Over the past few years my wife and I were trying to work out how we could retire and let the our children and staff take over the running of the business without us being a burden on the finances. We slowly implemented your profit first revelation in November 2019. It is now July 1st 2020 and we have put aside our entire weekly wage using your system. At the end of this month my wife and I are hitching on the caravan to the 4x4 and heading off on our around Australia adventure. We wish you, your family and your readers all the best for the future. Kind Regards Maurice

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Osman Raidhan

Hoping to start my own business and this will be my go to book. A must read for all business people.

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Mollen Maswanganyi

I liked the concept of this book, give you insights on how to make your business to be a profitable business

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Patanjali S.

The book gives you a very simple but powerful insight. I believe this is a must read for one in any stage of the entrepreneurial journey. The same elements of business when rearranged become powerful tools to validate and grow. Very impressive.

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Michelle M.

long winded but useful info

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Anonymous

several begining chapters over repeatitions of how this book will change your life without discussing the concept. I think the book over markets itself

Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
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