How To Transform Your Business From A Cash-Eating MONSTER To A Money-Making MACHINE w/ Mike Michalowicz
Podcast: Action Academy | Replace The Job You Hate With A Life You LovePublished On: Tue May 23 2023
Description: Mike Michalowicz is the Best Selling Author of "Profit First" Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that:· Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances.· A small, profitable business can be worth much more than a large business surviving on its top line.· Businesses that attain early and sustained profitability have a better shot at achieving long-term growth.https://mikemotorbike.comWant To Quit Your Job In The Next 6-18 Months Through Buying Commercial Real Estate & Small Businesses? 👔🏝️ Check Out Our Action Academy CommunitySchedule A Free 15 Minute Coaching Call With Our Team Here To Get "Unstuck"! Check Out Our Bestselling Book : From Passive To Passionate: How To Quit Your Job - Grow Your Wealth - And Turn Your Passions Into Profits Want A Free $100k+ Side Hustle Guide? Follow Me As I Travel & Build:IG @brianluebbenActionAcademy.com
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