EPISODE · May 23, 2023 · 30 MIN
How To Transform Your Business From A Cash-Eating MONSTER To A Money-Making MACHINE w/ Mike Michalowicz
from Action Academy | Millionaire Mentorship For Your Life & Business · host Mike Michalowicz
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.comIf you want to leave corporate America in the next 6-18 months - you should check out our Action Academy Community 👔🏝️ with over $500M in deals done across small businesses and commercial real estate, and over 600 members - we help you SCALE to your freedom. Schedule A Free 40 Minute Coaching Call With Our Team Here To Get "Unstuck" and Learn More. Follow Me As I Travel & Build:IG @brianluebbenActionAcademy.com
What this episode covers
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...
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How To Transform Your Business From A Cash-Eating MONSTER To A Money-Making MACHINE w/ Mike Michalowicz
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