Profit First

You are about to discover the profoundly simple yet shockingly effective accounting plug in that will transform your business from a cash eating monster into a money making machine In Profit First, Mike Michalowicz, author of The Pumpkin Plan The Toilet Paper Entrepreneur, explains why the GAAP accounting method is contrary to human nature, trapping entrepreneurs in the panic driven cycle of operating check to check and reveals why this new method is the easiest and smartest way to ensure your business becomes wildly and permanently profitable from your very next deposit forward. Best Read [ Profit First ] By [ Mike Michalowicz ] For Kindle ePUB or eBook – kino-fada.fr The title to this book will turn off many people Gnostic Christians won t like it because profit is a bad word Entrepreneurs won t because it sounds too good to be true The general populace because they aren t business owners However, the formula behind this book is critically applicable in any aspect of life and not only business Here s the formula Sales Profit ExpensesWhoa Seems rather backwards doesn t it In business, here is how it works Figure out your Real Revenue The income gener The title to this book will turn off many people Gnostic Christians won t like it because profit is a bad word Entrepreneurs won t because it sounds too good to be true The general populace because they aren t business owners However, the formula behind this book is critically applicable in any aspect of life and not only business Here s the formula Sales Profit ExpensesWhoa Seems rather backwards doesn t it In business, here is how it works Figure out your Real Revenue The income generated by your company after subtracting the cost ofmaterials and subcontractors.Dump ...One of the simplest, clearest, and most practical approaches to handling the finances of a business that I ve ever read Profit First , just as the name implies, is a straightforward, understandable discipline that if applied can completely transform a business, and put it on the path toward managing cash flow to greater dare I say guaranteed profitability No rocket science here, just basic common sense, and a system that s wonderfully easy to apply and manage Not only does it give One of the simplest, clearest, and most practical approaches to handling the finances of a business that I ve ever read Profit First , just as the name implies, is a straightforward, understandable discipline that if applied can completely transform a business, and put it on the path toward managing cash flow to greater dare I say guaranteed pr...Good concept General accounting principles dictate that revenue expenses profit This book suggests turning this formula around so that revenue profit expenses.It basically plays to the common human trait of using whatever resources we have to make things happen If we have one month to complete a project, it ll take us one month If we have a week, it ll take us one week Urgency and scarcity work as incentives This same principle is used here for treating expenses when it comes to Good concept General accounting principles dictate that revenue expenses profit This book suggests turning this formula around so that revenue profit expenses.It basically plays to the common human trait of using whatever resources we have to make things happen If we have one month to complete a project, it ll take us one month If we have a w...Money is hard Running a profitable business is hard In theory all the accounting principles work, but only if you re an accountant, and then not even always.Profit First introduces you to a new way to manage your business finances, take your profit first Forget about fancy stuff...I was pretty skeptical when in the first chapter of Profit First the author guaranteed every business that uses his system will be immediately profitable, and by the end of the book I was proven correct Transforming Your Business to becomeprofitable happens by changing the definition of profit and implementing an over complicated accounting system using several different bank accounts The whole gist is that entrepreneurs should be paying themselves a salary and dividends and accruing I was pretty skeptical when in the first chapter of Profit First the author guaranteed every business that uses his system will be immediately profitable, and by the end of the book I was proven correct Transforming Your Business to becomeprofitable happens by changing the definition of profit and implementing an over complicated acc...A lot of great advice in this book I also appreciate that the author makes a real effort to be conversational while also being strict about serious topics Some of his jokes were a little lame but I suspect that they made him chuckle while he was writing them s...Summary This book is great Well structured, informative and the writing is entertaining Some great examples and supporting resources are available through the author s website and you are directed to them throughout the book The system described in the book turns generally accepted accounting principles on their head by changing the way you operate your business from revenue expenses profit to revenue profit expenses This minor change has a massive impact on your psychology and flows Summary This book is great Well structured, informative and the writing is entertaining Some great examples and supporting resources are available through the author s website and you are directed to them throughout the book The system described in the book turns generally accepted accounting principles on their head by changing the way you operate your business from revenue expenses profit to revenue profit expenses This minor change has a massive impact on your psychology and flows through into business and financial efficiency The author offers an accounting system that is simple to implement, but able to yield massive financial gains over time I like these seemingly obvious and basic approaches that for some reason aren t the norm They are often easy to implement, easily automated and have large rewards While my business ventures only create infrequent revenue at the moment, as things pick up I ll be starting with this system in place which will hopefully give me the edge and he...Not 100% applicable to personal finances as it says Could have just read the one personal chapter Felt as though it s a lot of repetition of the same anecdotes, corny jokes, and breaking the third wall writing Was happy when it was completed.The book can change your life The business approach Mike Michalowicz outlines in this novel is almost verbatim the system I have used to turn around a hopeless business situation I wish I had read this book rather than reinventing the wheel If your business is struggling and negatively affecting all areas of your life and you are ready to do what is necessary, this is the book for you The system works You can and should do less and will makeThe information in this book will remind yo The book can change your life The business approach Mike Michalowicz outlines in this novel is almost verbatim the system I have used to turn around a hopeless business situation I wish I had read this book rather than reinventing the wheel If your business is struggling and negatively affecting all areas of your life and you are ready to do what is necessary, this is the book for you The system works You can and should do less and...Had me thinking outside the box Profit first is an important book for all business owners I will keep it and read again I think I had to read it all the way through once before implementing so I can understand what I will be doing.Not a business owner yet but have dreams of being one and this simple system breaks it down do anyone can understand Really enjoyed this book and can t wait to implement Mike s system into my business and personal life.Did not understand the book much, but maybe one day I will come back to this book, I guess the first chapter is the most important as in the very end he mentioned it again.A must read for entrepreneurs business ownersEvery small business owner should read this book I m excited about applying the principles to mine.

• English
• 13 August 2018
Mike Michalowicz
• Hardcover
• 191 pages
• 0981808298
• Mike Michalowicz
• Profit First