Profit First University
Included in Productivity On Demand Membership
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.
*Profit First University is typically available only to clients of Profit First Professionals. Productive Environment Institute works one-on-one with Profit First Professional Shannon Simmons, Netbooks Accounting, who has generously granted us permission to share this Course with Productivity On Demand Members!
PreviewProfit First is Better for Entrepreneurs Than Generally Accepted Accounting Principles.-Mike Michalowicz TEDx
StartProfit First Overview
StartModule 1-Getting Started (3:53)
StartModule 2-Understanding Profit First (5:51)
StartModule 3-Implement the Core Four (6:45)
StartModule 4-Use Small Plates (8:07)
StartModule 5-Take Your Profit First (2:45)
StartModule 6-Removing Temptation (4:06)
StartModule 7-Establishing a Rhythm (8:09)
StartModule 8-Destroy Your Debt (10:42)
StartModule 9-Holding Yourself Accountable (4:37)
StartModule 10-Understanding the Numbers (10:23)
By his 35th birthday MIKE MICHALOWICZ (pronounced mi-‘kal-o-wits) had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor…and proceeded to lose his entire fortune.
Then he started all over again, driven to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the “Profit First Formula”, a way for businesses to ensure profitability from their very next deposit forward.
Mike is now running his third million dollar venture, is a former small business columnist for The Wall Street Journal; is the former MSNBC business make-over expert; is a popular keynote speaker on innovative entrepreneurial topics; and is the author of Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed “the entrepreneur’s cult classic.”