Profit First by Mike Michalowicz | with guest Sabrina Chevannes

If you are tired of looking at your bank account and wondering where all that top-line revenue went, this episode is for you.

Mike Michalowicz built and sold multiple million-dollar companies before writing Profit First, a system now used by over 600,000 businesses to grow leaner and more profitable.

Joining me to unpack these principles is Sabrina Chevannes, founder of the award-winning No BS Agency and the n0bs.com community for ambitious entrepreneurs. As an international chess master and competitive poker player, Sabrina knows strategy, risk, and how to win.

Today, we discuss how to use human psychology to stop overspending, how to audit your business to find hidden cash bleeds, and the specific bank account structure Sabrina uses to guarantee a profit every single month.

Key Takeaways & Timestamps

00:00 – Introducing Profit First and why top-line revenue is a vanity metric.

02:09 – The Formula Flip: Why changing your accounting from (Revenue - Expenses = Profit) to (Revenue - Profit = Expenses) changes everything.

05:26 – The Software Audit: How Sabrina saved tens of thousands of pounds by cutting "essential" subscriptions and zombie software.

08:42 – Parkinson's Law of Money: Why your business expenses will always expand to consume the exact amount of cash sitting in your operating account.

12:09 – The "Pocket" System: The exact 4-account bank structure (Profit, Tax, Owner's Pay, Opex) to protect your money from yourself.

15:09 – Building the Habit: Why you need to schedule your financial transfers on the 10th and 25th of the month as a non-negotiable meeting.

18:04 – The 1% Rule: Why starting with just 1% allocated to profit builds the psychological momentum you need to scale.

20:33 – The No BS Community: Sabrina explains why she built a community for founders tired of transactional networking events.

24:47 – The Bryan Johnson Method: What the world's most regimented biohacker can teach you about removing financial temptation from your business.

Get the book here

📚 Profit First by Mike Michalowicz

Mentioned in the episode

1. n0bs.com: Sabrina’s members club for ambitious founders.
2. Starling and Revolut: The challenger banks used to easily set up financial "pockets."
3. Atomic Habits: The book by James Clear on building habits that stick.

Sabrina Chevannes, Founder of No BS Agency & Community

Follow Sam on LinkedIn

Want to get in touch? Whether you want to suggest a guest, sponsor the show, leave some feedback or just get in touch to tell me what you're working on, here's the link for you: https://forms.gle/NHGL9ftFRhu4cKFLA