(PDF/ePub) Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine - Mike Michalowicz
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Detail Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Author : Mike Michalowicz
Pages : 224 pages
Publisher : Portfolio
Language :
ISBN-10 : 073521414X
ISBN-13 : 9780735214149
Synopsis Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
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