AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
4min chapter
The Profit First System with Mike Michalowicz
Business Processes Simplified Podcast
The Four Steps to a Profit-First System
Every 90 days, as money comes into the income account, we allocate money to our profit. We then invoke the transfer over to the second bank. The reason behind this is it prevents the reactionary mentality. Many businesses operate on when a deposit comes in, they get relieved and say, how can I spend this and blow it away? That's a problem because it causes what's called peaks and valleys.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode