What is Profit First?
As a business owner, you know how important accounting for your business activities is. You dutifully produce for your accountant your financials for tax purposes. You get a whopper of a tax bill you didn’t expect and your tax preparer tells you how much their services will cost you.
Ouch, success hurts, right? But, you get a pat on the back as you leave the office, because you just joined the secret club of standard business management. You see over 80% of small businesses world wide run their businesses the same way. Year after year dutifully following this formula:
Sales – Expenses = Profit
In fact it is so common a myth that is just the way it is, that very nearly 100% of the accountants and advisors out there don’t focus on the one thing – no, actually the ONLY thing – you can do that will make your business profitable from your very next deposit.
That is until NY Times best selling author Mike Michalowicz realized that from a math stand point – changing the formula to this Sales – PROFIT = Expenses would have a profound impact on the success, profitability and STABILITY of business ownership.
Profit First is a Cash Based Behavior Modification system that will make your business profitable from the very next deposit! Thats a promise.