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Podcast: The Real Estate Espresso Podcast
Episode: BOM - "Profit First" by Mike Michalowicz
Description: Ou book this month is “Profit First” by Michael Michalowicz. You’ve no doubt heard the advice from financial advisors called “Pay yourself first”.
This book sounds like the same advice, only it’s quite different. It breaks down the human behaviours that result in a money management cycles that ultimately can become a trap.
Most businesses focus on growing revenue to generate cash and stay ahead of expenses. The problem with this approach is that the additional revenue attracts hidden expenses which erode the benefit of the added revenue. Some businesses can grow themselves into the groun...