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Profit First

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

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 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.


* This audiobook edition includes exclusive updated commentary by the author. Développement commercial et entrepreneuriat Entrepreneurship International Marketing et ventes Petites entreprises Argent Entreprise Marketing Spirituel
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This entire book could have been condensed into this sentence: “Take your profit and store it in a separate bank every month, before dealing with any of your other expenses.”

It also oversimplifies complex and sometimes delicate topics. For example, at one point, he literally says “if you don’t lay people off, you’re preventing them from getting their dream job in the future”. That is quite the acrobatic rationalization. He even talks about severance pay as though it were optional.

This is an oversimplified business version of “Rich Dad, Poor Dad”.

Repetitive, obvious, and corny

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