Description

Profit First Book: Following 4 simple principles can simplify accounting and make it easier to manage a business by looking at bank account balances. This book offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral.

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 demonstrates how entrepreneurs can transform their businesses from cash-eating monsters to profitable cash cows by prioritizing profit and allocating only what remains for expenses.

By looking at bank account balances, you can simplify accounting and make it easier to manage a profitable business by following four simple principles.

A small, profitable business can be worth much more than a large company that relies solely on its top line.

Companies that achieve early and sustained profitability have a better chance of achieving long-term growth.

If you need help with your Profit First journey, please feel free to contact us.