Profit First

  • by Mike Michalowicz
  • Narrated by Mike Michalowicz
  • 8 hrs and 35 mins
  • Unabridged Audiobook

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.


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Customer Reviews

Most Helpful

The book that does what it says on the cover...

Profit First is a common-sense approach to managing any kind of business. Mike is a real natural, with an uncanny ability to make you very aware of the brutal reality of your company's true financial health, while at the same time showing you that he's on your side and even better, how to improve it. You'll laugh and want to cry at the same time.

Profit First is not pretending to replace anything either. There's no radical departure from what you already know. Mike delivers his ideas with entertaining narrative and profound insight, intertwined with anecdotes and stories which help underline his ideas. Profit First is an essential read. You'll wonder how you got this far without it.
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- Steve Parkinson

Very good

I happened onto this book by chance and I love it. Accounting, to me, seems like the 7th circle of hell but now I know that when I start up my new business I will be able to implement processes to make it simpler.
The side content in the audiobook is also really good.
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- anon jon

Book Details

  • Release Date: 21-02-2017
  • Publisher: Gildan Media, LLC