In Profit First, Mike Michalowicz presents a revolutionary new way to manage your business finances. He argues that many businesses are actually “cash-eating monsters” because they’re not organized in a way that allows them to make money.Michalowicz shows how adopting the profit first philosophy can help you turn your business around and start making real profits. The basic idea behind Profit First is that you should divide your business finances into five distinct accounts:.
For who is this book for ?
The book is for business owners who want to make more money and are willing to change the way they manage their finances. Michalowicz provides a step-by-step guide for setting up your profit first accounts, and he offers advice on how to use those accounts to improve your business’s profitability.
Pros :
- The book offers a fresh perspective on how to manage your business finances.
- It provides practical advice that can help you improve your bottom line.
- The author is an experienced businessman who knows what he’s talking about.
Cons :
- The book can be a bit daunting for those who are not familiar with accounting and financial terms.
- It may require some effort to change the way you currently run your business finances.
- Some of the concepts presented in the book may be challenging for small business owners to implement on their own.
Learn more about the author
Mike Michalowicz is the author of Profit First and The Pumpkin Plan. He’s a former small business columnist for USA Today, and his work has been featured in The New York Times,The Wall Street Journal,and other publications.Michalowicz is an advocate of thinking big and starting small, which he did with both his first two businesses (one was sold to Staples).He currently resides outside Boston with his wife and three children.
Reader Reviews
“Mike Michalowicz has done it again! With Profit First he provides a commonsense guide to transforming any business into a money-making machine. Implementing these simple principles will help you get ahead and stay there.”
“Michalowicz has successfully challenged the fundamental assumptions of traditional corporate finance and provided entrepreneurs with a valuable new option for creating wealth.”
“A must read for business owners”
“If you’re looking to take your business finances up a notch, Profit First is the book for you. Michalowicz provides an easy-to-follow guide that will help you create and stick to a budget – improving your bottom line in the process.”
