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Profit First

Profit First
Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

by Mike Michalowicz

  • Publisher : Penguin
  • Release : 2017-01-18
  • Pages : 224
  • ISBN : 0735214166
  • Language : En, Es, Fr & De
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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.

Summary: Profit First

Summary: Profit First
Review and Analysis of Michalowicz's Book

by BusinessNews Publishing

  • Publisher : Must Read Summaries
  • Release : 2015-07-01
  • Pages : 9
  • ISBN : 2511035901
  • Language : En, Es, Fr & De
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The must-read summary of Michael Michalowicz's book: "Profit First: A Simple System to Transform Any Business from a Cash Eating Monster to a Money-Making Machine". This complete summary of the ideas from Michael Michalowicz's book "Profit First" introduces the Profit First Approach. According to Michalowicz, this approach means prioritising profit, instead of leaving it as an afterthought. By following this approach, you can secure your profits and run your business on the remaining cash. There are four steps to install the Profit First Approach: 1. Draw a line in the sand 2. Set up your Profit First system 3. Use Profit First to destroy debt and optimise your business 4. Integrate some advanced techniques into your Profit First system Added-value of this summary: • Save time • Prioritise your company’s profits • Make your company permanently profitable To learn more, read “Profit First” and get your business profit-ready!

Summary of Profit First

Summary of Profit First
by Mike Michalowicz- Transform Your Business from a Cash-Eating Monster to a Money-Making Machine - A Comprehensive Summary

by Alexander Cooper

  • Publisher : BookSummaryGr
  • Release : 2021-04-19
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Summary of Profit First The GAAP (Generally Accepted Accounting Principles) formula for determining a business's profit since time immemorial has always been: Sales - Expenses = Profits While that formula is logically accurate, it doesn't really take human nature into account. Specifically, most small business owners do what can be termed "bank balance accounting" – they look at their bank balance and make decisions based on the balance they see. That relegates profit to an afterthought – something which will be left over at the end of the year with a bit of luck. The Profit First Accounting (PFA) approach is to flip the standard GAAP formula this way: Sales - Profit = Expenses You take a predetermined percentage of profit from every sale first and then use only the remainder to pay for your expenses. Or put another way, with PFA, you secure your profit first and then run your business on the remaining cash. PFA Take your profit first and then scale your expenses to match that goal “It comes down to this – do you want to treat your profitability like leftovers, knowing you may only find scraps or an empty plate? Or do you want to get your full, healthy share right up front? I don't know about you, but I want to get my due portion first. I have taught the Profit First system to small companies and big companies, to private companies and even public companies. It works for all of them. And it will work for you. My commitment to you is that, if you follow the Profit First system, your business will become permanently profitable from the moment of your next deposit." - Michael Michalowicz About the Author MICHAEL MICHALOWICZ is a serial entrepreneur and former small business columnist for The Wall Street Journal. By his 35th birthday, he had founded and sold two multi-million-dollar enterprises before losing everything by becoming an unsuccessful angel investor. He, therefore, started his third enterprise and worked to build it into a million-dollar venture. He formerly was a business make-over expert on MSNBC and is now a popular keynote speaker on entrepreneurship. He is the author of three books including The Pumpkin Plan and The Toilet Paper Entrepreneur. He is a graduate of Virginia Tech. Important Note About This Ebook This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints, and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book. Profit First offers readers another method of thinking about bookkeeping. Rather than calculating your profit based on the distinction between your Sales and expenses, Mike Michalowicz recommends calculating your costs from the difference between your sales and profit. Take your Profit First, at that point work out how to cut your costs. Mike built up this thought from the most effective weight loss methodology – limiting bits by using more modest plates. Mike Michalowicz's framework expects to turn businesses from feeling like money-eating beasts into feeling like profitable cash cows. Here is a Preview of What You Will Get: ⁃ A Full Book Summary ⁃ An Analysis ⁃ Fun quizzes ⁃ Quiz Answers ⁃ Etc. Get a copy of this summary and learn about the book.

Insights on Mike Michalowicz's Profit First

Insights on Mike Michalowicz's Profit First
A Book

by Swift Reads

  • Publisher : Swift Books LLC
  • Release : 2020-11-10
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Download now to get key insights from this book in 15 minutes. 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.

Profit First

Profit First
Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

by Mike Michalowicz

  • Publisher : Penguin
  • Release : 2017
  • Pages : 224
  • ISBN : 073521414X
  • Language : En, Es, Fr & De
GET BOOK

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.

Fix This Next

Fix This Next
Make the Vital Change That Will Level Up Your Business

by Mike Michalowicz

  • Publisher : Penguin
  • Release : 2020-04-28
  • Pages : 272
  • ISBN : 059308442X
  • Language : En, Es, Fr & De
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From Mike Michalowicz, the author of PROFIT FIRST, CLOCKWORK, and THE PUMPKIN PLAN, comes the ultimate diagnostic tool for every entrepreneur. The biggest problem entrepreneurs have is that they don't know what their biggest problem is. If you find yourself trapped between stagnating sales, staff turnover, and unhappy customers, what do you fix first? Every issue seems urgent -- but there's no way to address all of them at once. The result? A business that continues to go in endless circles putting out urgent fires and prioritizing the wrong things. Fortunately, Mike Michalowicz has a simple system to help you eradicate these frustrations and get your business moving forward, fast. Mike himself has lived through the struggles and countless distractions of entrepreneurship, and devoted years to finding a simple way to pinpoint exactly where to direct attention for rapid growth. He figured out that every business has a hierarchy of needs, and if you can understand where you are in that hierarchy, you can identify what needs immediate attention. Simply fix that one thing next, and your business will naturally and effortlessly level-up. Over the past decade, Mike has developed an ardent following for his funny, honest, and actionable insights told through the stories of real entrepreneurs. Now, Fix This Next offers a simple, unique, and wildly powerful business compass that has already helped hundreds of companies get to the next level, and will do the same for you. Immediately.

Student Financing of Graduate and First-professional Education, 1992-93

Student Financing of Graduate and First-professional Education, 1992-93
With an Essay on Student Borrowing

by Susan P. Choy

  • Publisher : Unknown Publisher
  • Release : 1995-11
  • Pages : 118
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Profit First for Ecommerce Sellers

Profit First for Ecommerce Sellers
Transform Your Ecommerce Business from a Cash-Eating Monster to a Money-Making Machine

by Cyndi Thomason

  • Publisher : Unknown Publisher
  • Release : 2019-01-22
  • Pages : 160
  • ISBN : 9780960028313
  • Language : En, Es, Fr & De
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There are four critical areas that today's ecommerce sellers struggle with in growing their businesses - managing inventory relying on debt; understanding their financial data; and maintaining focus. Cyndi Thomason has taken the core concepts of the Profit First methodology created by Mike Michalowicz and customized them to ecommerce.

Profit First for Contractors

Profit First for Contractors
Transform Your Construction Business from a Cash-Eating Monster to a Money-Making Machine

by Shawn Van Dyke

  • Publisher : Unknown Publisher
  • Release : 2018-12-03
  • Pages : 218
  • ISBN : 9781790264506
  • Language : En, Es, Fr & De
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Construction industry business coach, speaker, and author, Shawn Van Dyke, has taken the core concepts of Mike Michalowicz's Profit First and customized them to address the specific needs of the construction industry. Profit First for Contractors addresses the major struggles contractors face and provides clear and actionable guidance on how to overcome them. Shawn shows contractors how to go from simply getting by to becoming permanently profitable. This book is for every construction business owner who dreams of prosperity. Using Van Dyke's Profit First for Contractors system, readers will learn how to break out of the "craftsman cycle" - the seemingly never-ending loop of urgent tasks and responsibilities that keep contractors from gaining traction toward their important goals. He guides construction business owners how to understand their financial statements and how to use them to determine the markup and margin that lead to profits. You will also learn hot to develop solid rules of thumb for the operation of your construction businesses, and how to implement an effective cash management plan that simplifies accounting and leverages normal human behavior. Using real-life stories from actual construction business owners, step-by-step advice, and his conversational twang, Van Dyke puts permanent profitability within reach of every construction business owner.

Japan

Japan
A Documentary History

by David John Lu

  • Publisher : M.E. Sharpe
  • Release : 1997
  • Pages : 668
  • ISBN : 9781563249068
  • Language : En, Es, Fr & De
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An updated and expanded edition of David Lu's acclaimed Sources of Japanese History, this compilation of primary documents presents in a clear and accessible format, with full annotation and incisive commentary by Dr. Lu, readings translated from the original Japanese that cover the full spectrum of political, economic, and diplomatic as well as cultural and intellectual history in a time span that ranges from Japan's mythological beginnings to the present. The past indeed is prologue: these documents - written by Japanese contemporaneous with the events described - provide insight not only into the past but also into Japan's contemporary civilization.

Multiple Criteria Decision Making in Supply Chain Management

Multiple Criteria Decision Making in Supply Chain Management
A Book

by A. Ravi Ravindran

  • Publisher : CRC Press
  • Release : 2017-07-12
  • Pages : 394
  • ISBN : 131535425X
  • Language : En, Es, Fr & De
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Supply chain management decisions are made under the conflicting criteria of maximizing profit and customer responsiveness while minimizing supply chain risk. Multiple Criteria Decision Making in Supply Chain Management provides a comprehensive overview of multi-criteria optimization models and methods that can be used in supply chain decision making. Presenting the contributions of internationally known authors, researchers, educators, and practitioners, this new book in the Operations Research Series provides readers with a single source guide to recent developments in this area. The focus of the book is on the design and operation of the supply chain system, which involves connecting many production and distribution systems, often across wide geographic distances, in such a way that the businesses involved can ultimately satisfy the consumer demand as efficiently as possible, resulting in maximum financial returns to those businesses connected to that supply chain system. The book includes several case studies on the design and operation of supply chain networks in manufacturing and healthcare.

Securities Activities of First Jersey Securities, Inc., and Robert Brennan, Owner and Former Chairman

Securities Activities of First Jersey Securities, Inc., and Robert Brennan, Owner and Former Chairman
A Staff Report

by Anonim

  • Publisher : Unknown Publisher
  • Release : 1987
  • Pages : 63
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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First-generation students undergraduates whose parents never enrolled in postsecondary education

First-generation students undergraduates whose parents never enrolled in postsecondary education
A Book

by Anonim

  • Publisher : DIANE Publishing
  • Release : 2021
  • Pages : 329
  • ISBN : 142892728X
  • Language : En, Es, Fr & De
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The Ignition Switch from Hell

The Ignition Switch from Hell
A Book

by Lawrence P. Sullivan

  • Publisher : Lulu.com
  • Release : 2015-04-26
  • Pages : 209
  • ISBN : 1312947853
  • Language : En, Es, Fr & De
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In 2014, automakers in the United States more than doubled their previous all-time record for automotive safety recalls. The most prominent recall was for a defective ignition switch in General Motors vehicles that caused cars to stall and airbags to fail in a crash, prompting a legal, financial and public relations nightmare for the company. "The Ignition Switch from Hell" examines the engineering, managerial and supplier relations problems that led to the defective part. The book provides suggestions on how GM management can improve vehicle quality assurance, including case studies of quality assurance systems from Japanese suppliers.

Entrepreneur to Author

Entrepreneur to Author
5 STEPS to Writing and Publishing a Nonfiction Book That Builds Your Authority and Grows Your Business

by Scott A. MacMillan

  • Publisher : Grammar Factory Publishing
  • Release : 2020-10-06
  • Pages : 384
  • ISBN : 1989737013
  • Language : En, Es, Fr & De
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Small business owners are struggling to stand out in authority-driven fields. They’re losing deals to the competition, getting ignored by the media, and missing out on partnerships that could change the trajectory of their business. Increasingly, entrepreneurs realize that authorship can help by building authority, generating quality leads, and providing IP that lets them efficiently scale their business. But most aren’t confident in their ability to become an author…until now. In Entrepreneur to Author, you’ll learn: The secret to a book strategy that’s in lock-step with your business strategy How to efficiently plan, write, test, and refine a high-quality manuscript so you can tend to your business, family, and personal priorities The ins and outs of getting your book published, including publishing models, costs, book formats, and distribution channels The foundational strategy for building authority and the three monetization strategies you can use to grow your business with your book Using analytical, business-minded concepts, you’ll gain confidence in your ability to become an outstanding first-time author, and in your book’s ability to build your authority and grow your business in a way that scales up without burning you out. If you're an ambitious entrepreneur, business leader, or subject-matter expert whose business success depends on your personal authority and professional credibility, then Entrepreneur to Author is your strategy guide to building authority and growing your business through writing and publishing.

Japan: A Documentary History: Vol 2: The Late Tokugawa Period to the Present

Japan: A Documentary History: Vol 2: The Late Tokugawa Period to the Present
A Documentary History

by David J. Lu

  • Publisher : Routledge
  • Release : 2015-03-04
  • Pages : 410
  • ISBN : 1317467094
  • Language : En, Es, Fr & De
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An updated edition of David Lu's acclaimed "Sources of Japanese History", this two volume book presents in a student-friendly format original Japanese documents from Japan's mythological beginnings through 1995. Covering the full spectrum of political, economic, diplomatic as well as cultural and intellectual history, this classroom resource offers insight not only into the past but also into Japan's contemporary civilisation. This volume covers from the late 18th century up to 1995. Three major criteria used in the document selection were that: the selection avoids duplication with other collections - 75% of the documents presented here are newly translated; a document accurately reflects the spirit of the times and the life-styles of the people; and emphasis is on the development of social, economic and political institutions.

The Ultimate Business Tune Up

The Ultimate Business Tune Up
A Simple Yet Powerful Business Model That Will Transform the Lives of Small Business Owners

by Allen Rich

  • Publisher : Morgan James Publishing
  • Release : 2017-01-24
  • Pages : 277
  • ISBN : 1683500598
  • Language : En, Es, Fr & De
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Business owners today are constantly faced with difficult challenges and eight of ten new businesses will not survive the first five years. Competition is difficult and building a sustainable, profitable business is arguably the most challenging sport in all of business today. In The Ultimate Business Tune Up Rich Allen combines the experiences of his father’s own small business, his personal experiences running and growing a business, and his learning from advising hundreds of small business owners into a powerful, step-by-step guide for small business owners everywhere. Rich introduces a model that is both easy to understand and powerful when used to make strategic business decisions.

Addicted to Profit: Reclaiming Our Lives from the Free Market

Addicted to Profit: Reclaiming Our Lives from the Free Market
Reclaiming Our Lives from the Free Market

by Stuart Sim

  • Publisher : Edinburgh University Press
  • Release : 2012-04-17
  • Pages : 208
  • ISBN : 0748646728
  • Language : En, Es, Fr & De
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Will our addiction to profit destroy the world we live in? The profit motive now exercises an effective tyranny over our lives: in the private as well as the public sector, nowhere seems immune from its reach. International tycoons, economists and politicians are obsessed with economic growth. Yet, as Stuart Sim shows, the pursuit of excessive profit brought the world to the brink of economic chaos in the recent credit crisis and threatens us with environmental disaster as well. Despite this, neoliberalism still sets the agenda for economic policy in the West. Sim suggests various 'act up' strategies so that we might resist becoming slaves to personal gain and, in doing so, he demonstrates that life needn't be all about profit.

PROJECT APPRAISAL AND FINANCING

PROJECT APPRAISAL AND FINANCING

by AMBRISH GUPTA

  • Publisher : PHI Learning Pvt. Ltd.
  • Release : 2017-01-01
  • Pages : 620
  • ISBN : 8120352750
  • Language : En, Es, Fr & De
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The era of nineties has created a new breed of entrepreneurs whose quest for finance is unending. The lending institutions, on the other hand, have become choosy due to, among other reasons, mounting Non-performing Assets (NPAs). All this has led to increased pressure on the availability of finance to the entrepreneurs. In this setting, careful consideration of Project Appraisal and Financing holds the key to survival. Designed in this context, the book begins with explaining the project’s fundamentals—features, identification, and project life cycle. It goes on to explain and analyze project formulation, appraisal of promoters and management, market appraisal, technical appraisal, financial appraisal, project report, institutional risk assessment and financing decision. The book also focuses on the concepts of project management, overruns, post-completion performance evaluation and contemporary issues like infrastructural financing, and environmental impact assessment. All through the book, the emphasis is on critical analysis and decision-making. Primarily intended for the students of MBA/PGDM/PGDBM and other allied courses such as MFC and MBE, the book will also be of immense value to the students of CA, CWA, CS, CFA, CPA and CAIIB. Besides, it will be equally beneficial for the executive development and in-company training programmes on project appraisal and financing. Project finance executives in consulting firms and lending institutions and banks will also be benefited from the book due to its practical orientation. KEY FEATURES • Highlights the text from practitioner’s perspective. • Written in a lecture mode and conversational style; classroom simulative. • Large number of illustrations, exercises and case studies. • Systematic and organized coverage of a full-fledged manufacturing project, including 10 years’ financial projections integrated with the text throughout the book. Contemporary issues like infrastructure financing and environmental impact assessment. Unique pedagogical features, as explained in the ‘Visual Tour of the Book’ section. Chapter-wise PPTs and Solutions Manual available, on demand, for instructors adopting the book.

Profit

Profit
A Book

by Gary Levey

  • Publisher : iUniverse
  • Release : 2011-07
  • Pages : 352
  • ISBN : 1462033989
  • Language : En, Es, Fr & De
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Almost seventy years have passed since "1984, " the classic dystopian novel about a totalitarian future society, was published. Since then, the world has changed-and so has the future ... In this second novel of the Joad Cycle, teenager Gil Rose and his great-grandfather, Bernie Rosenthal, have taken revenge on the chairman, but not without a price. They are now fugitives. They flee to northern Maine, where Bernie tries to instruct Gil so he can lead the rebellion. But Gil prefers to hike the hills of Maine with his friends and make virtual love to his avatar girlfriend. Everything changes for Gil when HomeSec, the omnipresent homeland security watchdog group, discovers his whereabouts. When he learns that an assault team is on the way to capture him and destroy the town, Gil flees the destruction. He begins a new life on the road as a fugitive, always striving to stay even one a step ahead of HomeSec. But he soon learns that no one can be trusted. He's captured by former terrorists and held prisoner in the business town of Profit, a society based on the rampant greed of unbridled capitalism, autocratic government, and the new Christian religion, called Morgan. Gil's struggles expose how greed, ego, and the selfish appetite for power have impacted the country, but his adventures also show the power love can have too. His modern love story ultimately restores freedom to America but, more importantly, restores its goodness.