Profit First
  • Author : Mike Michalowicz
  • Release Date : 18 January 2017
  • Publisher : Penguin
  • Genre : Business & Economics
  • Pages : 224
  • ISBN 13 : 9780735214163
Ratings: 5
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Book excerpt: 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 achieving 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.

Profit First

Profit First

Author : Mike Michalowicz
Publisher : Penguin
Genre : Business & Economics
Get Book

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 ...

Profit First

Profit First

Author : Mike Michalowicz
Publisher : Penguin
Genre : Business & Economics
Get Book

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 ...

Profit First for Ecommerce Sellers

Profit First for Ecommerce Sellers

Author : Cyndi Thomason
Publisher : Unknown
Genre : Uncategorized
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There are four critical areas that today's ecommerce sellers struggle with in growing their businesses - managing inventory relying on debt; understanding their financial data; and maintaining focus. Cyndi Thomason has taken the core concepts of the Profit First methodology created by Mike Michalowicz and customized them to ecommerce....

Profit First for Real Estate Investing

Profit First for Real Estate Investing

Author : David Richter
Publisher : Unknown
Genre : Business & Economics
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It's time to stop living deal to deal. Real estate investors have systems for almost everything-to make the phone ring, to find deals, and to fix, rent, and sell their properties. What they don't have is a system for their finances that ensures positive cash flow and profitability. This is ...

Profit First for Contractors

Profit First for Contractors

Author : Shawn Van Dyke
Publisher : Unknown
Genre : Uncategorized
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Construction industry business coach, speaker, and author, Shawn Van Dyke, has taken the core concepts of Mike Michalowicz's Profit First and customized them to address the specific needs of the construction industry. Profit First for Contractors addresses the major struggles contractors face and provides clear and actionable guidance on how ...

The Pumpkin Plan

The Pumpkin Plan

Author : Mike Michalowicz
Publisher : Penguin
Genre : Business & Economics
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Each year Americans start one million new businesses, nearly 80 percent of which fail within the first five years. Under such pressure to stay alive—let alone grow—it’s easy for entrepreneurs to get caught up in a never-ending cycle of “sell it—do it, sell it—do it” that ...

The Toilet Paper Entrepreneur

The Toilet Paper Entrepreneur

Author : Mike Michalowicz
Publisher : Toilet Paper Entrepreneur
Genre : Entrepreneurship
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Trying to start a business in this economy? Struggling with little or no cash? Have no experience, no baseline to judge your progress against? Whether you’re just starting out or have been at it for years, the Toilet Paper Entrepreneur's "get real", actionable approach to business is a much-needed ...

Profit First For Minority Business Enterprises

Profit First For Minority Business Enterprises

Author : Susanne Mariga
Publisher : Unknown
Genre : Uncategorized
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It's time to level the playing field! You are accustomed to being the first-the first to go to college, the first to start a business. You often enter rooms where no one else looks like you. You're a trailblazer on a mission to create a new legacy for your family. ...

Profit First for Tradies

Profit First for Tradies

Author : Katie Crismale-Marshall
Publisher : Unknown
Genre : Uncategorized
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If you have finally had enough of the constant cash flow struggle and you are ready to make a change, Profit First for Tradies will guide you. Katie Crismale- Marshall has taken the core concepts of Mike Michalowicz's Profit First method and customised it to meet the specific needs of ...

Clockwork

Clockwork

Author : Mike Michalowicz
Publisher : Penguin
Genre : Business & Economics
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Do you worry that your business will collapse without your constant presence? Are you sacrificing your family, friendships, and freedom to keep your business alive? What if instead your business could run itself, freeing you to do what you love when you want, while it continues to grow and turn ...

Profit First for Microgyms

Profit First for Microgyms

Author : John Briggs
Publisher : Unknown
Genre : Uncategorized
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Profit First for Microgyms adapts the simple cash flow method revealed in Mike Michalowicz's bestselling book, Profit First, to help you become profitable from your next deposit. Using humor and true stories about his clients and his own microgym, John Briggs offers a step-by-step plan to help transform your microgym ...

A Macroeconomic Analysis of Profit

A Macroeconomic Analysis of Profit

Author : Andrea Carrera
Publisher : Routledge
Genre : Business & Economics
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Based on the observation of economic reality, this book provides for the foundations of a new structure of national payment systems. Specifically, to this end, a rigorous accounting for money transactions, savings, and invested profit is suggested, with a major aim to settle sustainable lending levels. Profit lies at the ...

My Money Bunnies  Fun Money Management For Kids

My Money Bunnies Fun Money Management For Kids

Author : Mike Michalowicz
Publisher : Unknown
Genre : Juvenile Fiction
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What if you could help your children learn the importance of money management while inspiring them at the same time? Now you can build this lifetime skill with your children early on. My Money Bunnies captures the innovative cash management system in Profit First, from perennially bestselling author, keynote speaker, ...

Right First Time

Right First Time

Author : Frank Price
Publisher : Routledge
Genre : Business & Economics
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This remarkable book combines simplicity of treatment with depth of coverage and is written in a refreshingly original style. Dispelling the mystique which so often surrounds the subject, and without indulging in complex mathematics, the author explains how to achieve low scrap rates, zero customer rejections and the many other ...