Profit First by Mike Michalowicz – Book Club Pick

About Profit First

Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales – Profit = Expenses. 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. (Source: Amazon)

Sarah’s Favorite Quotes

“Growth is the battle cry of nearly every entrepreneur and business leader. Grow! Grow! Grow!… Growth is only half the equation… Most business owners try to grow their way out of their problems…but the result is simply a bigger monster.”

“Profit is not an event. Profit is not something that happened at the year end or at the end of your five-year plan or Sunday. Profit isn’t something that waits until tomorrow. Profit must happen now and always. Profit must be baked into your business. Every day, every transaction, every moment. Profit is not an event. Profit is a habit.”

“Give yourself more joy when you choose not to spend money than do you do when you choose to spend it…Celebrate every time you save – whether it’s 10 bucks or 10,000.”

Shaunae’s Favorite Quotes

“Money problems happen when: sales slow down, sales speed up (expenses go up too)”

“Bigger is NOT Always Better: more revenue does not mean you are more successful”

“Growth is only half the equation, Let the right size business find YOU!”

“Profit must happen now and always, profit is not an event, it’s a habit.”

“Revenue is vanity, profit is sanity, and cash is king”

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Podcast Script