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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

Published by Gildan Audio


Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Published by Gildan Audio

ratings:
5/5 (199 ratings)
Length:
8 hours
Publisher:
Released:
Mar 1, 2017
ISBN:
9781469036601
Format:
Audiobook

Description

Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expense = 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 the money they always dreamed of.
Publisher:
Released:
Mar 1, 2017
ISBN:
9781469036601
Format:
Audiobook

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Reviews

What people think about Profit First

4.8
199 ratings / 25 Reviews
What did you think?
Rating: 0 out of 5 stars

Reader reviews

  • (5/5)
    Great book and I highly recommend it. Against the authors orders, I haven't implemented the system yet as I'm in debt, but I am soon to be implementing all of the systems and processes outlined in this book. I'll be buying the physical book as well.
  • (5/5)
    Definitely going to be applying this in my new startup! I've kind of been using some of these principles unknowingly in past businesses but not in the detail and depth it's been explained here. Can't wait to implement everything starting with a new business!!!
  • (5/5)
    This book Was as good as recommended. Want more from this author.
  • (5/5)
    Mike understands the mindset of the entrepreneur who is so busy that they cant slow down long enough to do more than check their bank account. This book is a lifeline for those people. I plan to buy the physical book too and implement all the steps for both my husbands business and my own.
  • (5/5)
    Who knew listening/reading about managing your cash flow can be FUN :-)

    I can see how I can now start making a profit TODAY, pay myself MORE and make sure my business doesn't struggle AGAIN with paying expenses and payroll.

    I bought the Kindle version so I can go through it again and implement the strategies in each chapter.

    This is a MUST book for every biz owner.

    This is not one of the all-time favorite business books.
  • (5/5)
    Un libro imprescindible para emprendedores y para todas aquellas personas que generen su propio dinero.
  • (5/5)
    Game changer! Would highly recommend to anyone starting a new business
  • (5/5)
    A must read for any person struggling to turn profits in their business especially in Uganda
  • (5/5)
    Simple system for business finance. Great narration and great concepts.
  • (5/5)
    The title seems very standard and it does not give credit on what’s inside. This will change your view on how to manage the finance of a company and rather than using financial skills, you first need to master psychology skills :) and it works!
  • (5/5)
    Real Eye opener and such good advice. Its really got me thinking
  • (5/5)
    Great Audiobook! It really keeps you in tuned with the content. The content is great as well, it gave me a new more disciplined point of view.
  • (5/5)
    This is an excellent book and Mike is a really engaging reader. I'd highly recommend this listen for anyone on a business or personal finance perspective. It's accessible, practical and doable. I do not have the accounting gene and this made sense to me. I didn't want to doze off and I laughed frequently. Also, Mike sounds just like Mark Ruffalo to me so that was pretty fun as well!
  • (5/5)
    Already started implementation. Here is to a profitable business and life
  • (5/5)
    Game Changer! After reading this book I have researched out an accountant that works with profit first and I have set up my accounts. I'm excited to see how well it works for me in 2021.
  • (5/5)
    I'm starting my business and thank God I stumbled across this book right at the start of my entrepreneurial journey. As a novice (but learning fast) in business, I feel like I have a leg up after reading PF. A must-read, especially for those like me who are complete newbies to being an entrepreneur!
  • (5/5)
    Rich dad's and Babylon's methods put in practice for entrepreneurs.
  • (5/5)
    This book is fantastic. It’s a book about pay yourself first accounting and how to not shoot yourself in the process. Lots of info here I’ll definitely be going back and listening to some of this again.

    I know it sounds like self explanatory stuff but this book brought my mind somewhere it’s never been before accounting wise.
  • (5/5)
    A brilliant concept that is sure to change your business and your life for the better
  • (5/5)
    Wow, amazing business book, a must read for all entrepreneurs!
  • (5/5)
    Author is hilarious, transparent, and personable! Great content! Must read for entrepreneurs!
  • (5/5)
    Wow, just wow. Wow comes after starting to apply it!
  • (5/5)
    Loved it will listen again to take detailed notes of the profit first approach.
  • (5/5)
    This is one of the best book I have ever read. The simple yet effective systems provided by Mike are mind blowing and his observations and experience can make you thinking whether he knows you and your feeling personally.
  • (5/5)

    1 person found this helpful

    I listen to an unbelievable amount of business oriented books, and it's frustrating to hear the same fluff stories over and over only to uncover the 1 or 2 golden nuggets of the book.
    HOWEVER, this book was GREAT! I literally had this book at 1.8x because of how well the author narrated the book. So much to learn, I would recommend this book to ANY founder looking to finally make it to profitably.

    1 person found this helpful