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Publisher's Summary

The 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, listeners will learn that:

  • Following four 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 road map for any entrepreneur to make money they always dreamed of.

©2014, 2017 Mike Michalowitz (P)2017 Gildan Media LLC

What members say

Average Customer Ratings

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Update Version put Profit First on STEROIDS!

What did you love best about Profit First?

It's a real system that I can use to transform my life and my business!

What was one of the most memorable moments of Profit First?

Mike had me in tears when he shared his piggy bank moment with his daughter

What about Mike Michalowicz’s performance did you like?

He's hysterically funny guy and he made a rather boring subject (money and the accounting of said pennies) entertaining.

7 of 7 people found this review helpful

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Changed the way I do business accounting

What did you love best about Profit First?

When I first listened to profit first, I really felt as though the author was talking about me. I have struggled over the past ten years as a small business owner and Profit First talked about all the issues that I was having and better yet, Profit First shows you how to remedy issues that plague all small business owners.

Who was your favorite character and why?

N/A

What does Mike Michalowicz bring to the story that you wouldn’t experience if you just read the book?

Mike is a very good narrator. He keeps you entertained and you can tell he is passionate about eradicating entrepreneurial poverty

Was there a moment in the book that particularly moved you?

No one moment. The entire book has changed the way I do my business accounting. I must say, the book is real, the message is real and if you own your own business you really need to read this one!

Any additional comments?

I never do reviews on anything, ever. I had to let other small business owners know about this one. I have never been the accountant type. I am good at what I do and my business shows it. We are up every year for 10 years but I never seem to take any more money home. That has all changed since I listened to Profit First (I also bought the paperback too). I have followed the processes in the book which are very simple and easy to follow and now I take my money first. No matter how much money the business has to pay for expenses we make it work. The book makes so much sense that you may get mad at yourself that you didn't think of this yourself. Do yourself a favor and listen to this one!

3 of 3 people found this review helpful

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Profit First

This book provides some good fundamental strategies to help small businesses manage money by transferring it to small accounts.

3 of 3 people found this review helpful

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Gotta listen to change your life

For 20 years I struggled from paycheck to paycheck. July 1st I will get my first profit check. Do what Mike says and you will win.

3 of 3 people found this review helpful

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Truthful and helpful

This book is very important. We need more entrepreneurs to read this and learn these business principles.

3 of 3 people found this review helpful

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R E A D T H I S B O O K ! !

If you're in business it's simple, you need this book and teachings of Profit First. We just adopted this two daya ago and are all in starting small but will be working progressively towards our goals (TAP's - PS: you'll know what that means when your read the book)...

Must read! This is the future of business. A friend of mine recommended this book to me three days ago and believe me I'll be reading it again just because it's that good.

3 of 3 people found this review helpful

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Best business book I've ever read

I have been using the Profit First system for almost a year. Things aren't perfect by any means, but I am seeing that my business is getting healthier, little by little. I sometimes listen to this book just to get a lift from Mike's infectious enthusiasm. And I love the Profit First accountant Mike hooked me up with. Thanks, Mike, for figuring this all out. I am grateful.

By the way, I use Smarty Pig for all the separate accounts. It works well for me--but I do know it's more accessible and therefore more dangerous! I am so tired of being broke, however, that it's really not tempting to steal my own money.

Perfer et obdura, dolar hic tibi proderit olim.
Persist and endure; one day, this pain will be useful to you. --Ovid

6 of 7 people found this review helpful

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GAME CHANGER

If you could sum up Profit First in three words, what would they be?

GAME CHANGER

Who was your favorite character and why?

Mike

What does Mike Michalowicz bring to the story that you wouldn’t experience if you just read the book?

Mike reads the book in a very conversational way. Super fun to listen too.

If you were to make a film of this book, what would the tag line be?

This book with change your business and change your life!

Any additional comments?

Profit First is a GAME CHANGER! Very practical and it will turn your business around! I am a new business owner and this book may have saved my life!

2 of 2 people found this review helpful

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Keeping it real!

The author gives an honest picture of an entrepreneur's life and challenges, and how to overcome them with this detailed system, including keeping people accountable. Delivered in an entertaining way to keep you engaged. Great concept.

1 of 1 people found this review helpful

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This was an awesome book!

I am a bookkeeper and I found this book gave great practical advice that I will be applying in business and in my personal life.

1 of 1 people found this review helpful

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  • JK
  • 03-10-18

Cash is King

I have a busy pharmacy and have been struggling to get a grip of the financials. I know that cash flow is the most important thing. This book teaches you cash accounting to a new level. A level that is easy to understand and to put into practise. You dont have to have any accounting expertise to do this.
I will now go and put it into practise.

1 of 1 people found this review helpful

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  • Steve Parkinson
  • 02-13-18

The book that does what it says on the cover...

Profit First is a common-sense approach to managing any kind of business. Mike is a real natural, with an uncanny ability to make you very aware of the brutal reality of your company's true financial health, while at the same time showing you that he's on your side and even better, how to improve it. You'll laugh and want to cry at the same time.

Profit First is not pretending to replace anything either. There's no radical departure from what you already know. Mike delivers his ideas with entertaining narrative and profound insight, intertwined with anecdotes and stories which help underline his ideas. Profit First is an essential read. You'll wonder how you got this far without it.

1 of 1 people found this review helpful

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  • Amazon Customer
  • 04-12-18

nice book

i like this book. it makes alot of sense.. i recommend it to my friends and clients too..

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  • Anonymous User
  • 03-07-18

Business changing

downloaded this by chance and this will transform my business. As a business owner last person to get paid, if ever, is you. This book will change that.

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  • anon jon
  • 01-18-18

Very good

I happened onto this book by chance and I love it. Accounting, to me, seems like the 7th circle of hell but now I know that when I start up my new business I will be able to implement processes to make it simpler.
The side content in the audiobook is also really good.

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  • TLJ
  • 07-04-17

I listened to this on 1.5 speed, not enough hours in the day!!

Just finished this book after listening to it at every opportunity at 1.5 speed! Just absolutely brilliant so inspirational and yet so doable and real. Practical tips and best of all pitfalls with explanations as to why humans do or don't do what's advised. The best book I've read in years!

1 of 2 people found this review helpful

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  • JedHoll
  • 06-27-17

Interesting concepts

Reverse engineer your profit. Definitely worth a listen and some genuine 'outside the box' thinking

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  • Amathea
  • 05-30-17

Absolutely brilliant concept!

Brilliant concept. Also put through in a very funny way. Loved it and will listen again!

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  • Wesley Chow
  • 10-25-17

For amateur entrepreneurs

This book is for entrepreneurs who don't want to put any effort into understanding their numbers. Otherwise, follow their method and learn how to put your money away in a separate bank account to recognise your "profit". Waste of my time and a very annoying narrator.

0 of 1 people found this review helpful

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  • L Antonio
  • 10-18-17

Game changer

What an amazing book! Why isn't this taught in schools/universities etc as the new GAP. Great job Mike. Will be sharing this with my full network

0 of 1 people found this review helpful

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  • Edward S Morrisoin
  • 04-16-18

awesome

invaluable information for the beginner or the experienced business person or even just managing your personal finances.
I loved it and will be putting it into practice.

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  • Zlata K
  • 04-12-18

I wish I read this earlier!

What made the experience of listening to Profit First the most enjoyable?

It gives a step by step guide - easy to execute advice.

Any additional comments?

This started making a difference in my business already. I only wish we discovered this book and system earlier. Well better later then never :)

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  • Anonymous User
  • 03-26-18

Business game changer

Owning 2 businesses and relating to living from check to check for the period of 5 years I could relate to the problem so well.

Profit first is helping reshape my business and cash flow and it has made me far more innovative.

If you own a business this is a must read.

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  • thelifecreator
  • 02-12-18

If you run a business...This is a MUST Listen.

The strategy behind Profit First is a must for any/every business.

It’s also one of, if not the most enjoyable to listen to business book that I’ve gone through. Mike really keeps, what can be sometimes a heavy subject, light, flowing and surprising entertaining!

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  • Komal
  • 01-19-18

must read

Great book. gave me a system to work on. absolutely great narrator. when author reads himself, it is best thing about audiobooks.

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  • Alexandra
  • 11-23-17

Great content

Loved having the author read the book. A few too many rambles but the content is worth sharing with every entrepreneur. Definitely worth the read/listen!

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  • Amazon Customer
  • 10-15-17

Great book

The author / narrator was easy to listen to. The diagrams being explained were a bit tough to follow just verbally but otherwise 100% loved it and recommend all business owners to listen to it.

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  • Anonymous User
  • 10-15-17

Informative and easy to listen to.

Enjoyable with some good anecdotes to reinforce the useful takeaways regarding the changing of accounting principles in order to force yourself to become more deliberate with your spending, and innovative to reduce expenses.