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4min chapter
The Profit First System with Mike Michalowicz
Business Processes Simplified Podcast
Introduction
Mike McAlliwitt is a small business author. He believes you should flip the formula of sales minus expenses equals profit and put profit first. The Profit First system sits on top of an accounting system to ensure profitability from the get-go. Mike: When we treat profit as something that comes last, it means it's insignificant. And all those terms mean profit can wait. So what I teach in profit first is a behavioral trick, but it's a behavioral mechanism that prioritizes profitability,. It makes your business adjust accordingly to ensure it's achieving sustained profitable growth.
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