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15min chapter
#740 The Anti-Agency Agency + High ROI Customer Acquisition
Tropical MBA: Entrepreneurship & Founder Lifestyle
Profit First: A Different Approach to Business Finances
In this chapter, they discuss the Profit First approach to business finances and how it differs from the traditional method. They explain that most businesses operate by spending money first and considering profit only after expenses are covered, whereas with Profit First, a set percentage of profit is prioritized and allocated to a separate bank account. They also explore the idea of gradually increasing the percentage of profit allocated and discuss the application of the Profit First system for different stages of business growth.
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