Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Book Brief
BetaProfit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Nonfiction | Book | Adult | Published in 2017224
Book • Nonfiction
2010s
2017
Adult
18+ years
Super Short Summary
Profit First by Mike Michalowicz presents a financial management system encouraging business owners to prioritize profit. By reallocating income into different accounts, individuals can cultivate financial health and sustainability, emphasizing the importance of paying oneself first to achieve long-term success. The system aims to transform the traditional profit formula to ensure consistent profitability.
Reviews & Readership
12,130 ratings
Loved it
Mixed feelings
Not a fan
Review Roundup
Mike Michalowicz's Profit First offers a fresh perspective on managing small business finances, emphasizing profit allocation before expenses. Many appreciate its actionable steps and real-life examples. Critics note potential oversimplification and the need for tailoring to different business types. Overall, it's a valuable resource for entrepreneurs seeking a profit-focused approach.
Who Should Read Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine?
Readers who would enjoy Profit First by Mike Michalowicz are small business owners and entrepreneurs focused on financial management and profitability. Comparable to fans of Dave Ramsey's EntreLeadership and Michael E. Gerber's The E-Myth Revisited, these readers seek practical, step-by-step strategies for enhancing their business finances.
12,130 ratings
Loved it
Mixed feelings
Not a fan
Mike Michalowicz developed the Profit First system as a way to simplify financial management by flipping the traditional accounting formula, focusing on profit first rather than last.
The book Profit First has been widely adopted by small business owners as a practical guide to manage cash flow and increase profitability.
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Michalowicz uses an analogy comparing business finances to personal dieting, promoting discipline and healthy financial habits.
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Book • Nonfiction
2010s
2017
Adult
18+ years
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