Profit First by Mike Michaelowicz

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My Rating: 5/10
Published or Updated On: 
November 12, 2022

Big Picture Thoughts

Mike's core idea here is dynamite. He does an admirable job of trying to create a guidebook for all businesses, but I think that's an impossible task. Still, some good benchmarks and great principles I still use today. Too wordy IMO.

The Main Ideas

  1. Build profit into your business by paying yourself first, as a shareholder (and as an employee).
  2. Cash in a business follows Parkinson's Law: if you don't pay yourself, you'll spend it.
  3. You can build profit into your business with Mike's cash flow system & some discipline.

Summary Notes

What is this?

A perspective framework and cash flow management system to growing a financially healthy business.


Expense control practices recommended by the author:

Recommended by Jeff:

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