Put Profit First and Create a Profitable Business that Actually Pays You First

Profit First: A Simple System to Transform any Business from a Cash-Eating Monster into a Money-Making Machine is the newest book by Mike Michalowicz, author of bestselling business books The Pumpkin Plan, and The Toilet Paper Entrepreneur.

If you haven’t had a chance to check out my recent interview with Mike in which we talk about Profit First among a few other things like successful entrepreneurship and balancing family with being an entrepreneur, you can check it out right here.

In the meantime, here is a quick and dirty breakdown of this game changing book (got my copy a couple weeks ago!) plus a FREE Download of the First Five Chapters of Profit First so you can try before you decide to buy:

If you are like most entrepreneurs–especially creative types like me and probably you too–you’re in business because you love what you do. It would be nice to get paid, but in business we have to make sacrifices right? At least we get to call our own shots (ahem)! So what if everyone gets paid except you, right? After all, you own the business, you have to go down with the ship… What if there’s a better way?

There is! It doesn’t have to be like that, and in Profit First, Mike explains exactly how to get out of the pay-everyone-but-yourself trap, and set yourself on the path to a profitable business (in which you actually get paid).

What I love more than anything about this book–and what I have appreciated about Mike Michalowicz’s style all along–is that he takes complex business topics (in this case business accounting), and makes them simple and doable for anyone. I also appreciate that in most cases–and definitely in this one–Mike doesn’t accept the status quo or popular opinion as the only way to accomplish goals–quite the opposite in fact.

In Profit First, Mike explains why GAAP Accounting (Generally Accepted Accounting Principles), the standard accounting process all large businesses are mandated by law to use, and that most small businesses also follow, is at the root of the profitability problem. The GAAP formula is: Sales – Expenses = Profit. That means your profit has to come out of whatever is left over, and in many cases, there’s nothing left!

With Profit First, Mike explains that we can flip the formula to Sales – Profit = Expenses. This way, although it’s similar to the familiar GAAP formula, we now have an accounting process that allows us to ensure our profit comes out first. The remainder is now left over to pay expenses. If the expenses exceed what’s left–guess what? It’s time to lower expenses–the business simply can’t afford them. It forces you (and me) to innovate. To find better and less expensive ways to run our businesses.

This is just the tip of the iceberg–Mike goes into so much fantastic detail in this compact, easy-to-digest book. It’s the new business accounting bible, if you ask me. My gift to you right now is a FREE Download of the First Five Chapters of Profit First so you can get a taste of the exciting and rewarding change that is possible in your business if you just reframe the way you approach your business money mindset and process. Set aside your Profit First. Simple, right?

Once you’ve read the first five chapters and you’re ready for your own copy of Profit First, hop on over to Mike’s page and check out his special incentives to buy more than one book (because you are going to want to share this book with your clients and friends) right here. You can also just buy it straight from Amazon right here if you prefer!

Hey there! Thanks for stopping by! I’d love to connect, so drop me a line here or shoot me an email at norma [at] connectinteractivellc [dot] com. If you like what you’re reading, be sure and subscribe or sign-up just below for email updates so you don’t miss a thing!

By the Way… If you like what you read today, you’ll love this post: How Profit First will Transform Your Business from a Cash-Eating Monster into a Money-Making Machine with Mike Michalowicz!

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