#203

Mentioned in 92 episodes

Profit First

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

Book • 2017

Mike Michalowicz

In 'Profit First', Mike Michalowicz introduces a behavioral approach to accounting that flips the conventional formula from 'Sales - Expenses = Profit' to 'Sales - Profit = Expenses'.

This system involves taking a predetermined percentage of sales as profit first and then allocating the remainder for expenses.

The book provides practical, step-by-step advice and case studies to help entrepreneurs manage their businesses more effectively, ensuring early and sustained profitability and long-term growth.

Mentioned by

Andrew Wilkinson

Mike Michalowicz

Mike Michalowicz

Tyler Gillespie

Mentioned in 92 episodes

Mentioned by

Robin Waite

during a discussion about managing business finances.

How To Build A Business In 2023 (The Easy Way) - Robin Waite

Mentioned by

Shaan Puri

, sharing Andrew Wilkinson’s concept of allocating profits before expenses.

How I Bought a $3.4M Business For $200K

Mentioned by

Shaan Puri

and

Sam Parr

in discussion with

Andrew Wilkinson

about business strategies.

Andrew Wilkinson's $20,000 to $260,000,000 story

Mentioned by

Andrew Wilkinson

as a book that promotes a profit-first approach to business management.

Why Is Andrew Wilkinson Monetizing His Twitter Followers?

Mentioned by

Andrew Wilkinson

as a resource for understanding financial success.

How I Built a $180M/Year Business Without Making Myself Miserable

Mentioned by

Jesse Cole

, referencing a chapter on the importance of saving money during tough times.

Building the Savannah Bananas (with Jesse Cole, Founder and Owner)

Mentioned by

Andrew Wilkinson

as a resource for improving financial management.

How Andrew Wilkinson Runs a $180M Company Working 4 Hours a Day

Mentioned by

Matt Gartland

as another example of a proven operating system.

SPI 879: Are Online Courses Dead? with Matt Gartland

Mentioned by

Joana Galvao

as another book by the same author of "Run Like Clockwork".

202 - Making a marketing strategy from scratch — with Joana Galvao

Mentioned by

Codie Sanchez

as the book written by

Mike Michalowicz

on profiting first.

#96 Business Expert: The BEST Way To Make Millions In Profit | Mike Michalowicz

Mentioned by

Jay Clouse

as a book used by hundreds of thousands of companies to drive profit.

#236: Mike Michalowicz – How the author of Profit First stays lean by licensing his ideas

Mentioned by

Jay Clouse

as a book used by many companies, including Creator Science, to drive profit.

#236: Mike Michalowicz – How the author of Profit First stays lean by licensing his ideas [Greatest Hits]

Mentioned by

Tyler Gillespie

as an accounting system that helped him prepare his business for sale.

Built to Sell: Design a Business to Run Without You (Greatest Hits)

Mentioned by

Phil Risher

as a book that helped him structure his business around profit.

7-Figure Consulting Business With 1 Product with Phil Risher

Recommended by

Nick Urbani

as a great book that changed the way he does his personal books and accounting.

The Michael Saylor of ETH!? + Golden Handcuffs & Lifestyle Creep | Ep. 242

Recommended by Braden Drake, highlighting its core ethos of paying yourself first.

LLC vs. S-Corp: The $10K Decision Every Entrepreneur Faces

Recommended by

Brian Luebben

as a book that changed his life by altering how he viewed profit.

Bought the Business? Here’s How to Run It (and Avoid Failure) w/ Gideon Spencer

Recommended by

Steve Stewart

as a method for managing money in small businesses by prioritizing profit.

Running Your Podcast As a Business with Steve Stewart

Mentioned by

Mike Michalowicz

as one of his books with strategies on leadership or profit that are inevitably contrarian.

Elevate Classics: Mike Michalowicz Makes Business Simple

Mentioned when discussing an accountant who wrote a version of Profit First for therapists.

184 How I Sell Online Courses (With Literally No Audience)

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