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  • Profit First

  • Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
  • Written by: Mike Michalowicz
  • Narrated by: Mike Michalowicz
  • Length: 7 hrs and 52 mins
  • 5.0 out of 5 stars (2 ratings)

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Profit First

Written by: Mike Michalowicz
Narrated by: Mike Michalowicz
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Publisher's 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, listeners 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.

©2017 Mike Michalowicz (P)2023 Penguin Audio

What the critics say

“Quit being a slave to your own business and start making some serious money. Follow Mike’s counter-intuitive advice and put profits first.” —VERNE HARNISH, author of Scaling Up

Profit First is a brilliant smack-upside-the-head revelation for entrepreneurs. Most small businesses look pretty good on the outside, yet actually struggle to stay afloat. With fascinating stories and wit, Michalowicz shows how to remove your nose from the grindstone, climb out of the quicksand, and build a business that loves you back.” —SALLY HOGSHEAD, author of Fascinate

"Profit First completely transformed how I handle business banking. I hadn't even finished the book before immediately putting a four-account distribution system in place for new income: operating expenses, owner expenses, taxes and profit. Mike's system moved me from break-even to profitable within a month. This book is a must-read for businesses large and small." —JENNY BLAKE, author of Pivot

What listeners say about Profit First

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  • Dasha
  • 2023-11-28

A gift wrapping that never ends

This book is like one of those prank gifts a friend might get for your birthday to make a hilarious surprise watching you struggle to open one gift box after another. You know, the one that starts with a huge gift box that has a smaller one inside also wrapped and taped, and then another one, and another, like a nesting doll. And you keep tearing down that silly shiny paper, and keep cutting through carton, only to unravel more of the same stuff without getting to the actual gift that turns out to be a mediocre meaningless useless excuse of an item placed at the very bottom of the very last package for the sake of a prank.

This book offers some very basic, minimally useful information with a whole lot of shiny wrapping paper alongside plenty of pathetic attempts at poorly written dad jokes.

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  • Hippsternation
  • 2023-12-08

The story of someone who never read a finance book

Maddening how much of the book is the guy coming to the realization that he needs to pay himself first. I kept telling myself to finish the book but apparently indulging in Jurassic Park was far more rewarding than listening to someone who acts like he has it all figured out after years and years of uneducated or disciplined experience.

The principles in this book are not wrong, they just aren't exactly brand new and Earth-shattering as the author seems to feel and if you have read a fair amount of finance books already, this likely isn't for you.

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  • Eric Saunders
  • 2023-12-07

Eye opening

Very impactful principles that any business should take immediate action on. The steps are very clear and easy to follow.

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  • Southern Triangle Contracting
  • 2023-12-06

Eye opening

Looking for the change in your business that you haven’t seen yet?
Read this book. Apply the methods and change your business.
With nothing to lose, you can only stand to gain something from this book…. and you will.

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  • Brittany Parker
  • 2023-10-25

Absolutely amazing!

I feel as if this should be implemented in core curriculum across all educational platforms nationwide. I couldn’t put it down, and can’t (and didn’t) wait to put this in practice. Total game…LIFE changer!

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  • Yakira Colish
  • 2023-10-23

11/10

Can’t recommend this book enough to everyone I know! Life changing! It’s a must read.

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  • Anonymous User
  • 2023-10-21

Engaging

I believe the content and focus of this book is going to be a game changer. I'm a conservative saver by default and this has opened my eyes to better manage and use my revenue is a way that is more profitable while still being fiscally responsible.

The author Mike also was fun to listen to as well.

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  • Amazon Customer
  • 2023-10-02

Tried to sell to much

They try and sell to many services. Each chapter had some thing I needed to go buy

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  • Justice Campbell
  • 2023-09-25

Great

Looking forward to implementing the methodology in this book. Business is always backwards - asking what do we need to produce for the bills instead of goal first (profit and paying self), they cutting expenses and raising income to cover only bare necessity expenses.

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  • Alexis
  • 2023-09-22

Small business owner must read

Damn I thought I was the only one that went through the struggle of not being able to pay myself.
Thank you Mike for taking the time to write Profit First and share it with the world.

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