This chapter explores the importance of putting profit first in business finances and how it can positively impact both business and personal life. It discusses the concept of taking profit off the table before disclosing project budgets, and emphasizes the need for business leaders to be honest about their financial situation.
Sales minus expenses equals profit, right? Not exactly, according to Mike Michalowicz, our guest on today’s episode.
A lot of business leaders aren’t maximizing their profits because they’re thinking about them as what’s “left over.” He shares his system for structuring your business’ finances so you put the priority on profit. It’s remarkably simple and will help you reshape your entire mindset around how you look at profit and expenses.
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