Profit First
Managing a real estate media business means juggling creative work, client expectations, and the complexities of running a profitable operation. Profit First by Mike Michalowicz is a game-changer for anyone struggling to balance these demands while still trying to turn a consistent profit. The book introduces a simple yet transformative cash management system that ensures profitability from the start. It flips the traditional “revenue - expenses = profit” formula on its head, teaching you to prioritize profit first while keeping your business running smoothly.
For real estate media companies, where margins can be tight and work can be feast or famine, this system provides clarity and structure. It forces you to think intentionally about every dollar, ensuring you’re paying yourself, preparing for taxes, and reinvesting wisely. Whether you’re navigating seasonal slowdowns, expanding your team, or scaling your offerings, Profit First gives you a financial blueprint to make sure your business isn’t just surviving but thriving.
This isn’t just a book about numbers—it’s about peace of mind. By following Michalowicz’s methods, you can focus more on creating great work and less on worrying about whether you’ll have enough cash to cover expenses. For those of us in a fast-paced industry like real estate media, that kind of freedom is priceless.
Profit First
BY MIKE MICHALOWICZ
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, readers will learn that:
· Following 4 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 roadmap for any entrepreneur to make money they always dreamed of.
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