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Description - Profit First by Mike Michalowicz

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 achieiving 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.

Buy Profit First by Mike Michalowicz from Australia's Online Independent Bookstore, Boomerang Books.

Book Details

ISBN: 9780735214149
ISBN-10: 073521414X
Format: Hardback
(237mm x 160mm x 24mm)
Pages: 224
Imprint: Portfolio
Publisher: Penguin Putnam Inc
Publish Date: 21-Feb-2017
Country of Publication: United States

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Author Biography - Mike Michalowicz

MIKE MICHALOWICZ launched and sold two multi-million dollar companies and is co-founder of Profit First Professionals, a membership organization of accountants, bookkeepers and business coaches who teach the Profit First method. He is a former columnist for The Wall Street Journal, is a popular speaker and has shared his insights on business and entrepreneurship at TEDx, creativeLIVE, INCmty and others. He is the author of The Pumpkin Plan and The Toilet Paper Entrepreneur. His columns have appeared in Entrepreneur Magazine, Open Forum, and Harvard Business Review.

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