I was skeptical. There is a lot of hype about this book and some of the sales stuff made me feel like I might get a free set of steak knives with my purchase.
But wow, really glad I took the time to read this. Totally changed my thinking about how I think about my businesses finances and how I price my services! Looking forward to seeing the system at work in my business, it makes complete sense.
Dear Struggling Entrepreneurs, I have been 8 years at my startup, and it is just a grind, I have basically done the opposite of what Mike has discovered is the path to financial freedom and sustainable profitable growth, so I am about to start the journey of Profit First. It rings very true to me, I have tested the Profit Last approach and that is 100% a bust, so I am looking forward to Profit First Journey.. Wish me luck... PS get the bloomin book if you are struggling with Product, and Marketing prioritisation, it bloomin helps out of site.
This book has changed the way I look at and manage my business finances and, as a consequence, my business is doing better than ever. I set up the five bank accounts recommended in the book and started applying the Profit First principles just a few chapters in. I instantly noticed a greater sense of control and discipline over my finances. It’s not as if I don’t have a bookkeeping system and accountant, but for some reason, visually managing my money has more powerful effects and setting aside profit first generates a psychological sense of success and reward for effort. If you’re in business for yourself, read this book!
It doesn't matter how experienced you think you are when it comes to managing your business finances. If you're still struggling to make ends meet or aren't paying yourself a salary or don't have a lot to show for all your efforts, you need to read Profit First. It brings together a whole lot of sensible practical things and wraps it up into a doable process for both making a profit and working out how to live within your means.
Had this sitting on my kindle for a while and just happened to pick it up a few days ago. The result... I couldn’t put it down. Wow! What a way of completely changing the game plan. I put the teachings into effect as I was reading it and really excited to see the results!
A great read with immediate applications. Open your first Profit Bank account regardless of what you think. Do it! Mike Michalowicz lessons are from real life experience. The simplicity of starting a business "piggy bank" is mind bending in its overall impact.
Inspired and motivated to try this system. Other than an extremely informative read Mikes style of writing is very personable and even funny. Loved it and will use it as my new profit and financial management bible.