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Publisher's Summary

The 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, listeners will learn that:

  • Following four 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 road map for any entrepreneur to make money they always dreamed of.

©2014, 2017 Mike Michalowitz (P)2017 Gildan Media LLC

What members say

Average Customer Ratings

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    2 out of 5 stars
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    3 out of 5 stars

A 2 minutes strategy explained in 7 hours.

could have been the best 2 minutes in a long time, worst seven hours instead.

2 of 2 people found this review helpful

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    1 out of 5 stars
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Self promoting crap

A book full of off topic anecdotes and self promotion to buy other products. by author.

Not worth the read

1 of 1 people found this review helpful

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    5 out of 5 stars
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Life changing book for your business!!

Found this book on the audible app when looking for good business books. Life changing book for your BUSINESS!!!

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Must listen

I got so much from this book. The information is worth far, far more than the cost of the book, and so well narrated that you can actually binge listen.

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A nice introduction to bookkeeping

If you have just started your business, this book is a good place to start learning more about bookkeeping.

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This could have been a 3 hour or 5 chapter book

He spends the first 2 hours bragging about his method, he spends maybe a total of an hour giving you the profit first method. I mean there's a few take homes, but nothing new. Create bank accounts make sense, so there's your one nugget. I'd suggest for people that implement this to find bank accounts that yields high interest so your not just opening a bunch of accounts and not getting anything back from it.
Read a summary and save your time, I have open loop syndrome... If I start something, I finish it, wish I didn't start this one.

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Incredible Book

Mike's approach makes sense is simple and absolutely doable. staring the 'Profit First' system today.

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Entertaining and informative

Great book! I enjoyed listening and have already been implementing Mike’s advice. I did learn the hard way that you can’t listen to it with kids around (swear words,) so take caution and enjoy it without them!

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Oooh, the extras not found in the book!

I loved the fact that Mike weaves in some extra nuggets only for the audio version, and that he speaks conversationally with them. I felt as though he was right there.
The system is brilliant, simple yet able to expand out to cover everyone from the startup solopreneure to large corporations and making sure there are funds for what is required for the business. This system will change your profitability! #Audible1

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Great book - Easy to follow and execute

Love Mikes passion for this. His easy to understand and time tested formula help you see your business profits in a whole new light. I've recommended it to all my clients. #Audible1

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  • Digital Auto Gauges
  • 2017-05-29

Changed the way I do business accounting

What did you love best about Profit First?

When I first listened to profit first, I really felt as though the author was talking about me. I have struggled over the past ten years as a small business owner and Profit First talked about all the issues that I was having and better yet, Profit First shows you how to remedy issues that plague all small business owners.

Who was your favorite character and why?

N/A

What does Mike Michalowicz bring to the story that you wouldn’t experience if you just read the book?

Mike is a very good narrator. He keeps you entertained and you can tell he is passionate about eradicating entrepreneurial poverty

Was there a moment in the book that particularly moved you?

No one moment. The entire book has changed the way I do my business accounting. I must say, the book is real, the message is real and if you own your own business you really need to read this one!

Any additional comments?

I never do reviews on anything, ever. I had to let other small business owners know about this one. I have never been the accountant type. I am good at what I do and my business shows it. We are up every year for 10 years but I never seem to take any more money home. That has all changed since I listened to Profit First (I also bought the paperback too). I have followed the processes in the book which are very simple and easy to follow and now I take my money first. No matter how much money the business has to pay for expenses we make it work. The book makes so much sense that you may get mad at yourself that you didn't think of this yourself. Do yourself a favor and listen to this one!

21 of 22 people found this review helpful

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  • Amazon Customer
  • 2017-05-27

Profit First

This book provides some good fundamental strategies to help small businesses manage money by transferring it to small accounts.

5 of 5 people found this review helpful

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    2 out of 5 stars
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  • Chris Cruz
  • 2019-03-01

Save time and watch a Youtube video on the system

Too much fluff. This book took a good 2 hours to get into the actual Profit First system. Then when it really gets started he intertwines stories about other people and hypothetical situations about not following the system. I got fed up with the useless stories and fluff and found a youtube video that explained the system to me in 20 mins WITH visual references. The system itself is great but this book could be alot shorter and more to the point.

9 of 10 people found this review helpful

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  • Mark Johnson
  • 2017-04-24

Truthful and helpful

This book is very important. We need more entrepreneurs to read this and learn these business principles.

3 of 3 people found this review helpful

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  • Cat Teacher
  • 2017-03-04

Best business book I've ever read

I have been using the Profit First system for almost a year. Things aren't perfect by any means, but I am seeing that my business is getting healthier, little by little. I sometimes listen to this book just to get a lift from Mike's infectious enthusiasm. And I love the Profit First accountant Mike hooked me up with. Thanks, Mike, for figuring this all out. I am grateful.

By the way, I use Smarty Pig for all the separate accounts. It works well for me--but I do know it's more accessible and therefore more dangerous! I am so tired of being broke, however, that it's really not tempting to steal my own money.

Perfer et obdura, dolar hic tibi proderit olim.
Persist and endure; one day, this pain will be useful to you. --Ovid

6 of 7 people found this review helpful

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  • Joe
  • 2017-05-19

GAME CHANGER

If you could sum up Profit First in three words, what would they be?

GAME CHANGER

Who was your favorite character and why?

Mike

What does Mike Michalowicz bring to the story that you wouldn’t experience if you just read the book?

Mike reads the book in a very conversational way. Super fun to listen too.

If you were to make a film of this book, what would the tag line be?

This book with change your business and change your life!

Any additional comments?

Profit First is a GAME CHANGER! Very practical and it will turn your business around! I am a new business owner and this book may have saved my life!

2 of 2 people found this review helpful

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    1 out of 5 stars
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  • Asia
  • 2018-09-04

Takes forever to get to the point

Listened for 2 hours and 15 minutes before the author gave any applicable info. Stories drag on too long in my opinion. Made it hard to follow.

7 of 9 people found this review helpful

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    5 out of 5 stars
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  • Shaneh Woods
  • Xenia, OH
  • 2017-02-21

Update Version put Profit First on STEROIDS!

What did you love best about Profit First?

It's a real system that I can use to transform my life and my business!

What was one of the most memorable moments of Profit First?

Mike had me in tears when he shared his piggy bank moment with his daughter

What about Mike Michalowicz’s performance did you like?

He's hysterically funny guy and he made a rather boring subject (money and the accounting of said pennies) entertaining.

7 of 9 people found this review helpful

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    5 out of 5 stars
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  • Anonymous User
  • 2017-05-24

Gotta listen to change your life

For 20 years I struggled from paycheck to paycheck. July 1st I will get my first profit check. Do what Mike says and you will win.

4 of 5 people found this review helpful

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    3 out of 5 stars
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  • Loves technology when it works
  • 2019-01-31

Good advice, but slow

The actionable steps are good. A system worth setting up and trying. There are too many side stories that take away from the book and make it hard to get through.

1 of 1 people found this review helpful