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Podcast: Read & Repeat
Episode: EP62 Profit First by Mike Michalowicz
Description: Mike Michalowicz's book, Profit First, provides a simple yet foundational idea: take your profit first. His theory flips the traditional sales - expenses = profits formula on its head, by telling small business owners to take their profit before paying expenses. He shares how we are all hardwired to spend what's available to us, so we must put those profit dollars out of sight, out of mind. By using Michalowicz's Profit First framework, thousands of entrepreneurs have already turned their cash-eating monsters into money-making machines. Over time, these businesses will see their profits accumulate into hefty war chests, enabling them...