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Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Item Dimensions: Array
Number Of Pages: 224
Publication Date: 2017-02-21
Release Date: 2017-02-21
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.
• The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field
• The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll.
• Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors)
• The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It
• Summary: Profit First: Review and Analysis of Michalowicz's Book
• Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential
• Accounting for the Numberphobic: A Survival Guide for Small Business Owners
• Scrum: The Art of Doing Twice the Work in Half the Time
• Scaling Up: How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0)
• Traction: Get a Grip on Your Business