Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
- Downloads：4459
- Type：Epub+TxT+PDF+Mobi
- Create Date：2021-05-16 10:54:56
- Update Date：2025-09-06
- Status：finish
- Author：Mike Michalowicz
- ISBN：073521414X
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
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， readers 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 money they always dreamed of。
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， readers 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 money they always dreamed of。
Reviews
Roman Nemish
，
Very simple and at times almost boring and childish explanations of financials， but it does get the point across how to run the company from early days。 Could have been much shorter。 Overall good。
Krisohn
，
This is good。 Definitely going to need a re-read or two。
Dung Bui
，
A simple financial framework that is easy to use for business owners， especially SME businesses。 It really helps in term of making decisions on how to balance costs。
Karla Osorno
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Rating 4 stars。This book is for entrepreneurs and business owners who want to make a profit （from day one） while doing something purposeful and good。 The Profit First system is outlined and examples of real businesses are given to illustrate the principles and systems。 Profit First works with human nature and behaviors instead of against them。 Mike Michalowicz （and his writing partner） deliver the content in an organized and logical manner with a conversational and humorous style。 It was effecti Rating 4 stars。This book is for entrepreneurs and business owners who want to make a profit （from day one） while doing something purposeful and good。 The Profit First system is outlined and examples of real businesses are given to illustrate the principles and systems。 Profit First works with human nature and behaviors instead of against them。 Mike Michalowicz （and his writing partner） deliver the content in an organized and logical manner with a conversational and humorous style。 It was effective for me and made the material more engaging。 Based on a recommendation from a friend， I picked up this book。 My skepticism at the beginning changed into this makes sense and I am going to do it。 I will have more to say as I implement the Profit First system。 I have already shared the concepts with two clients and recommend this read。 If more small businesses were profitable from day one， our economy would benefit greatly。 。。。more
Peter Fuller
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Most business books are repetitive and brash。 This one is slightly less repetitive and brash， but still mostly fits the mold of "business book written by a small business influencer who likes to talk about how many entrepreneurs he meets when giving all his little speeches"。 However， it gets 5 stars because I have actually started applying Mike's advice in my business， and it's a pretty good idea overall。 So thanks Mike！ Most business books are repetitive and brash。 This one is slightly less repetitive and brash， but still mostly fits the mold of "business book written by a small business influencer who likes to talk about how many entrepreneurs he meets when giving all his little speeches"。 However， it gets 5 stars because I have actually started applying Mike's advice in my business， and it's a pretty good idea overall。 So thanks Mike！ 。。。more
Asher Kennedy
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Very happy I read this book。 It’s applicable to both small business and personal life matters。
David
，
Excellent book！ Changed the way we do our bookkeeping in our business and changed the way we manage all of our finances。 It is a book you'll want to keep on the shelf to refer to as your company finances evolve。 Highly recommended！ Excellent book！ Changed the way we do our bookkeeping in our business and changed the way we manage all of our finances。 It is a book you'll want to keep on the shelf to refer to as your company finances evolve。 Highly recommended！ 。。。more
Melissa
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If you own your business this is a must read。 This has changed entrepreneurship for me。
Caleb Thorne
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I already use the envelope system for personal finances and this book presents a good way to apply it as a business owner。
Richard Marshall
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An extremely simplistic system。 I can see how it can work for a lot of business owners who run their businesses based purely on cash-flow accounting/bank balance management。 The principle of paying yourself first is sound， but I don't think this will add too much value to any business owners with a good understanding of accounts and money management。 An extremely simplistic system。 I can see how it can work for a lot of business owners who run their businesses based purely on cash-flow accounting/bank balance management。 The principle of paying yourself first is sound， but I don't think this will add too much value to any business owners with a good understanding of accounts and money management。 。。。more
Noushin Nuri
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Take out your profit from the revenue and run you business with the leftovers。Take out your savings from the profits and run your life with the leftovers。Keep saving and saving until you reach financial freedom。 When you finally reach financial freedom， you're either too old or dead。 Take out your profit from the revenue and run you business with the leftovers。Take out your savings from the profits and run your life with the leftovers。Keep saving and saving until you reach financial freedom。 When you finally reach financial freedom， you're either too old or dead。 。。。more
Marci Lambert
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Excellent！This is a quick read that will challenge your thoughts about running a business。 I am looking forward to implementing in my own business。
Santiago Angel
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Simple y poderoso。 Buen concepto， simple y poderoso。 Sine embargo un poco extenso en ejemplos y repetición de los mismos conceptos。 Considero que podría ser un libro con la mitad de hojas escritas y lograría el mismo impacto。
Li-Sun Goh
，
I really loved it， there are a few chucks in the book that didn't apply to me such as the "getting out of Debt" section。 But overall， if you own a business， you should read this book。 I struggled with how much is too much when it came to expenses and now I have an idea of what I should be spending and how much I'm profiting/paying myself。 I really loved it， there are a few chucks in the book that didn't apply to me such as the "getting out of Debt" section。 But overall， if you own a business， you should read this book。 I struggled with how much is too much when it came to expenses and now I have an idea of what I should be spending and how much I'm profiting/paying myself。 。。。more
Lilly
，
Entirely helpful and funny！ This book helped me get my business finances on track this year， and I’m just getting started。
Cait Farrow
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Super useful！
Alp
，
Could be summed up in 4 pages or so。 Dont waste your time
Nicole Bills
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READ。 Even if you are not an entrepreneur， this book has some interesting ideas on money management。 I bought this as a kindle but wished I had a print version from all the notes I've taken。 READ。 Even if you are not an entrepreneur， this book has some interesting ideas on money management。 I bought this as a kindle but wished I had a print version from all the notes I've taken。 。。。more
Celeste
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3。5 stars Interesting system of bookkeeping that I am going to try。 Worth reading-cheesy sometimes， but helpful。
Gloria
，
When you don't know about business or how to run a business， this book comes in handy， not what I needed but still it has good advice。 When you don't know about business or how to run a business， this book comes in handy， not what I needed but still it has good advice。 。。。more
Jan Brinkmann
，
This is probably the first and only book I read out of hundreds， which had such a big and instant impact on my business。 i cant stress how important it is to read this book。
Natalia Dołżycka
，
Lifechanging。
Morteza
，
Scroll down to read English translation。کتاب «اول سود» یه ایده کلی دارهاینکه باید قبل از هر هزینه ای، سود و مالیات رو کنار بذاریم。 وقتی بودجه مون برای هزینه ها کمتر میشه، باعث میشه اصولی تر هزینه کنیم。 قسمت های کم بازده کسب و کار رو حذف کنیم و به جاش به دنبال راه های افزایش بازدهی باشیم。 منابع （مثل کارمندان） کم بازده رو حذف کنیم و غیره。از طرفی هم استفاده از سود برای خودمون باعث میشه زودتر به سبک زندگی ایده آلمون برسیم و انگیزه بیشتری داشته باشیم برای ارتقا کسب و کار。برای این موارد اومده تا جای م Scroll down to read English translation。کتاب «اول سود» یه ایده کلی دارهاینکه باید قبل از هر هزینه ای، سود و مالیات رو کنار بذاریم。 وقتی بودجه مون برای هزینه ها کمتر میشه، باعث میشه اصولی تر هزینه کنیم。 قسمت های کم بازده کسب و کار رو حذف کنیم و به جاش به دنبال راه های افزایش بازدهی باشیم。 منابع （مثل کارمندان） کم بازده رو حذف کنیم و غیره。از طرفی هم استفاده از سود برای خودمون باعث میشه زودتر به سبک زندگی ایده آلمون برسیم و انگیزه بیشتری داشته باشیم برای ارتقا کسب و کار。برای این موارد اومده تا جای ممکن جزئیات ارائه داده تا نقطه مبهمی برای مخاطب باقی نمونه___The book "Profit First" has a general ideaThat we must set aside profits and taxes before any costs。 When our budget is reduced for expenses， it makes us spend more fundamentally。 Eliminate the low-yield parts of the business and look for ways to increase returns instead。 Eliminate inefficient resources （such as employees） and so on。On the other hand， using the profit for ourselves makes us reach our ideal lifestyle sooner and have more motivation to promote the business。For these cases， the author has provided as much detail as possible to the point of ambiguity for the rest of the sample audience 。。。more
Mari Luangrath Ullrick
，
3 stars for audiobook。 It’s hard to follow and a little too conversational / distracting。 I’m going to try again with the hard copy and re-review。
Alexey Averyanov
，
простой подход， обычный здравый смысл и немного практики :）） для начинающих предпринимателей， наверное， будет полезно。
Charlie Rogers
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A fresh perspective on money management in start-ups。 How to put Profit-first， manage expenses effectively with the aim to reward you， the owner。 Our finances have been solid so far， but it is useful to know how to maintain this while we scale the revenue coming into the business。
Jen
，
2。5 stars， maybe。The whole system seems overly complicated and yet really easy at the same time， iff that makes sense。 The book could've been condensed to half the length if he'd left out the bad jokes and pitches about his Profit First professional system。 I did appreciate the Matt Foley reference though - that's the additional 。5 stars :p 2。5 stars， maybe。The whole system seems overly complicated and yet really easy at the same time， iff that makes sense。 The book could've been condensed to half the length if he'd left out the bad jokes and pitches about his Profit First professional system。 I did appreciate the Matt Foley reference though - that's the additional 。5 stars :p 。。。more
Junior Stopa
，
Basic。 For beginners。The whole book would fit in a dozen of slides。 Funny stories that doesn’t add anything to business knowledge。 This book is recommended for those who has no idea of how to run a business。
Justinas Gecevičius
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Great book， everyone should read it
Heli Künnapas
，