"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."
Struggling with reading? Want to read more but don't have the time? Learn how to listen to Audiobooks in this video!
I'll provide you with a brief summary of what it is, why it can be useful, and how you can start listening. I'll also show you the best apps to use and give some tips on how to make your commute or workout more productive.
#audiobook #audiobooksummary
Audiobooks Summarized is a series on my channel where I read the first chapter of an audiobook and give my thoughts on it. This video will show you how to get started with Audible, the benefits of listening to audiobooks, why they're better than reading, and will make you want to get started reading them today!
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