If you're looking to boost your business's profitability, "Profit First!" is a must-read. This book flips traditional accounting on its head, showing you how to prioritize profit from day one. It walks you through actionable steps so you can take the guesswork out of finances. Whether you’re a startup or a seasoned business owner, the tips and strategies in this book easily fit into any routine and can help you keep more cash in your pocket.
The author, Mike Michalowicz, shares relatable stories and practical advice that make the concepts easy to grasp. You'll find yourself nodding along as he simplifies complex financial ideas and offers real-world solutions. With "Profit First," managing your money becomes less of a chore and more of a pathway to success. Get ready to transform your financial future and finally make your hard work pay off!
Owner's Note:
From personal experience, this book helped me figure out how to get my business operating profitably. Most business owners have a tendency to have their expenses expand to match, or in worst case scenarios exceed, their revenues. What this book helps you do is help you view profit as just another 'expense' your revenues need to cover, rather than being an afterthought. Once you start treating profits as another expense you need to account for, you start getting creative in how you compensate for that additional expense, sometimes by reworking current subscriptions, getting better pricing for materials, and/or switching suppliers. It might also let you reevaluate whether you even need to have that product or service, like having a water delivery service when everyone brings in their own drinks.
For a lot of businesses that are struggling to make ends meet, the act of treating profit as another expense might be all that's needed to make the business profitable again. I personally keep this book close to my desk, within easy reach, just to be able to flip through and remind myself of the principles contained within.
If you're looking to improve the profitability of your business, then in my opinion, this is a must-read.
